Report Overview

Juniper Research’s Payment Tokenisation report provides detailed analysis of the evolution of this dynamic market. The report considers the current status of the tokenisation market, how it is has been shaped by EMVCo standards, and changes that network tokenisation will bring with it. In addition, the research evaluates the tokenisation market through the lens of different payment methods; considering card-present transactions, eCommerce, mobile payments and IoT payments.
It further covers current market opportunities, key recommendations, future prospects and the role of 15 leading vendors across the payment tokenisation market via the Juniper Research competitor Leaderboard. The research also presents detailed market forecasts; delivering insights into the total number of tokenised transactions and segmenting payment tokenisation revenue by revenue stream:
  • Token provisioning revenue
  • Token management revenue
This research suite comprises: 
  • Strategy and Forecasts (pdf) 
  • 5-year Market Sizing & Forecast Spreadsheet (Excel) 
  • 12 Months’ Access to harvest Online Data Platform 
Key Market Statistics
Market size in 2022: $43.0bn
Market size in 2027: $62.0bn
2022 to 2027 CAGR: 8%

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Key Features

  • Market Dynamics: Provides extensive insight into the market landscape; highlighting the various forms of tokenisation and analysing trends in the payment tokenisation market.
  • Segment Analysis: Introduction to the current status of, and future outlook for, the payment tokenisation market in regard to four key payment types:
    • Card-Present Transactions
    • eCommerce Transactions
    • Mobile Payments
    • IoT Payments
  • Juniper Research Competitor Leaderboard: Key player capabilities and capacity assessment for 15 payment tokenisation vendors: 
    • Adyen
    • American Express
    • Braintree
    • Carta Worldwide
    • Edgeverve
    • Fiserv
    • G+D
    • IDEMIA
    • Mastercard
    • Micro Focus
    • Protegrity
    • Shift4
    • Spreedly
    • Thales
    • Visa
  • Industry Forecasts: Forecasts for payment tokenisation, including the total volume and total value of payments tokenised, split by card present, contactless, remote and IoT payments. The forecast runs to 2027 and is also split by our key regions and the 60 countries listed below: 
    • Algeria 
    • Argentina 
    • Australia 
    • Austria 
    • Bangladesh 
    • Belgium 
    • Brazil 
    • Canada 
    • Chile 
    • China 
    • Colombia 
    • Croatia 
    • Czech Republic 
    • Denmark 
    • Ecuador 
    • Egypt 
    • Finland 
    • France 
    • Germany 
    • Greece 
    • Hong Kong 
    • Hungary 
    • India 
    • Indonesia 
    • Ireland 
    • Israel 
    • Italy 
    • Japan 
    • Kenya 
    • Kuwait 
    • Malaysia 
    • Mexico 
    • Nepal 
    • Netherlands 
    • New Zealand 
    • Nigeria 
    • Norway 
    • Pakistan 
    • Peru 
    • Philippines 
    • Poland 
    • Portugal 
    • Qatar 
    • Romania 
    • Russia 
    • Saudi Arabia 
    • Singapore 
    • South Africa 
    • South Korea 
    • Spain 
    • Sweden 
    • Switzerland 
    • Thailand 
    • Turkey 
    • UK 
    • Ukraine 
    • United Arab Emirates 
    • Uruguay 
    • US 
    • Vietnam 

Key Questions Answered

  1. What are the current trends in the payment tokenisation market?
  2. What is driving growth in the tokenisation market?
  3. Who are the leading vendors in the tokenisation market?
  4. What are the future prospects for the payment tokenisation market?
  5. Which markets will see the strongest payment tokenisation growth?

Companies Referenced

Interviewed: Giesecke+Devrient, IDEMIA, Spreedly, Thales, Visa.
Included in the Juniper Research Competitor Leaderboard: Adyen, American Express, Braintree, Carta Worldwide, EdgeVerve, Fiserv, Giesecke+Devrient, IDEMIA, Mastercard, Micro Focus, Protegrity, Shift4, Spreedly, Thales, Visa.
Mentioned: 3DCart, Acquired, Acrus, African Banking Corporation, Aiia, Aion, Airbnb, Allegacy Federal Credit Union, Amazon, Apple, Arc’teryx, Authasas, Axis Bank, Bancolombia, Bank Liberty, BCP (Banco de Crédito del Perú), BentoBox, BigCommerce, British Airways, CBDC (Central Bank Digital Currency), Central Bank, CipherTrace, Citi, Clover, CoPilot, Currencycloud, Cybersource, Delta Airlines, DiPocket, Discover Financial Services, DocuSign, Dropbox, Dynamic Yield, EasyJet, eBay, Elo, E-Merge, Emirates NBD, Equifax, Equity Bank, eServGlobal, Finacle, Finaro, Fitbit, FitPay, Garmin, Gemalto, ghd, GitHub, GM, Google, Groupon, Harold Mechelynck, HealthCare First Credit Union, Hilton, HomeSend, Horizon Investments, HPB, IBM, ICICI Bank, Infosys, ING, Ingenico, Inside Secure, ISO (International Organization for Standardization), JCB, JustPark, Kavado, Konsentus, Kotak Mahindra Bank, Kount, Levi’s, Lianlian DigiTech Co, Lighthouse Network, Magento, Marqeta, Masterpass, MatchMove, McDonalds, MODO, Modulr, Mogo, NBT Bank, Netcetera, Nets, New York Community Bank, NPCI (National Payments Corporation of India), NXP Semiconductors, OmniSecure, OpenCart, Oracle, PayCentral, PayPal, Pineapple Payments, Pizza Express, Portland Local 8 Federal Credit Union, PushPay, RakBank, Rambus, Rappi, RBI (Reserve Bank of India), RCBC, Royal Cyber, RuPay, Salesforce, Samsung, Santander, SAP, SeatGeek, Shopify, ShopWare, ShopWired, Sionic Mobile, Skyscanner, Smartlink, Sodexo, Soft Space, Spectrum Equity, Spotify, Staley Credit Union, Standard Bank, State Bank of India, STG (Summit Technology Group), Strawhecker Group, Stripe, Tappy Technologies, The Giving Block, TPP Finicity, Trust, Uber, UNCATD, Utilita, Venmo, Veracity Solutions, Verifi, Verizon, White Castle, White Label Alliance, WooCommerce, Worldline, WorldPay, Xcelera, Yellowbrick, Yodel, Zeta.

Data & Interactive Forecast

Juniper Research’s Payment Tokenisation forecast suite includes:  
  • Forecasts for payment tokenisation revenue, split by payment type and token provisioning revenue and token management revenue. 
  • Interactive scenario tool allowing users to manipulate Juniper Research’s data for four different metrics.  
  • Access to the full set of forecast data of 64 tables and more than 48,500 datapoints.  

Geographical splits: 60 countries

Harvest: Our online data platform, harvest, contains the very latest market data and is updated throughout the year. This is a fully featured platform enabling clients to better understand key data trends and manipulate charts and tables, overlaying different forecasts within the one chart - using the comparison tool. Empower your business with our market intelligence centre, and get alerted whenever your data is updated.

Interactive Excels (IFxl): Our IFxl tool enables clients to manipulate both forecast data and charts, within an Excel environment, to test their own assumptions using the Interactive Scenario Tool and compare selected markets side by side in customised charts and tables. IFxls greatly increase a clients’ ability to both understand a particular market and to integrate their own views into the model.

Forecast Summary

The total volume of tokenised payment transactions will surpass 1 trillion by 2026, rising from 680 million in 2022. This represents a growth of 58% over the next four years. It attributed this growth to the rise of ‘one-click’ solutions, such as Click-to-Pay, that use card-on-file tokenisation to store a customer’s payment credentials, enabling them to auto-fill their checkout details and complete transactions via a single click.
  • Tokenisation growth is being driven by increasing adoption of one-click solutions by merchants within eCommerce to reduce friction, and by card networks, who are encouraging mass adoption of tokenisation at the network level to improve payment approval rates.
  • The volume of tokenised online and mobile eCommerce transactions is anticipated to grow by 74% by 2026. This growth is driven by the increasing customer expectation of a frictionless checkout experience, which one-click solutions via tokenisation offer.
  • IoT payments offer the largest growth amongst the tokenisation market over the next five years, with tokenised IoT transactions expected to reach 19 billion by 2027; growing 400% from just 3.8 billion in 2022. Tokenisation is critical in facilitating IoT payments; enabling transactions to be made via new use cases and form factors, unlocking new revenue opportunities for payment providers.

Payment Tokenisation Reports


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  • Market trends, strategies and forecasts report (pdf)
  • Market data & forecasts - All topic data and interactivity (xls)
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Jul 2022




Research Details

Juniper Research
Jordan Rookes
Security & Identity
8 Key Regions - includes North America, Latin America, West Europe, Central & East Europe, Far East & China, Indian Subcontinent, Rest of Asia Pacific and Africa & Middle East
Algeria, Argentina, Australia, Austria, Bangladesh, Belgium, Brazil, Canada, Chile, China, Colombia, Croatia, Czech Republic, Denmark, Ecuador, Egypt, Finland, France, Germany, Greece, Hong Kong, Hungary, India, Indonesia, Ireland, Israel, Italy, Japan, Kenya, South Korea, Kuwait, Malaysia, Mexico, Nepal, Netherlands, New Zealand, Nigeria, Norway, Pakistan, Peru, Philippines, Poland, Portugal, Qatar, Romania, Russian Federation, Saudi Arabia, Singapore, South Africa, Spain, Sweden, Switzerland, Thailand, Turkey, Ukraine, United Arab Emirates, UK, Uruguay, USA, Vietnam

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