Digital Payments Statistics
Last updated: 2026-10-28 · 12 sourced statistics
Digital payments now carry almost all of the money that moves in the US. The Federal Reserve counted 236.6 billion noncash payments worth $140.01 trillion in 2024: cards made up 79% of the number, while ACH transfers carried $104.06 trillion of the value. Consumers still pay cash for about 1 in 7 payments, but the Federal Reserve's 2025 diary found that 23% of purchases and person-to-person payments were made remotely and that consumers made 11 payments a month with a mobile phone. Outside the US, the Bank for International Settlements (BIS) reports that cashless payments per person grew 21% in emerging market and developing economies in 2024, where fast payments are now 49% of cashless payments. For a business that sends invoices, these figures explain why clients expect a card or bank option on the invoice, and why the right option depends on who the client is and what they are paying. Each figure below links to the official report it comes from.
Key takeaways
- US noncash payments reached 236.6 billion worth $140.01 trillion in 2024; cards were 79% by number but only 8% by value (Federal Reserve Payments Study).
- ACH carried $104.06 trillion in 2024, about three quarters of noncash value, and grew 3.5% a year by value from 2021 (Federal Reserve).
- US consumers made 47 payments a month in 2025, two thirds by card and about 1 in 7 in cash (Federal Reserve Diary of Consumer Payment Choice).
- 23% of US consumer purchases and person-to-person payments were made remotely in 2024, and consumers made 11 payments a month by mobile phone (Federal Reserve).
- Fast payments made up 49% of cashless payments in emerging market and developing economies in 2024, against about 10% in advanced economies (BIS).
At a glance.
Every figure on this page in one table, each linked to its named source. Scroll down for the full context behind each number.
| Figure | What it measures | Source | Year |
|---|---|---|---|
| 236.6B | The total number of noncash payments in the US rose to 236.6 billion in 2024, with a total value of $140.01 trillion. The number grew 4.9% a year from 2021 to 2024 and the value 2.6% a year. | Federal Reserve Board, Federal Reserve Payments Study: National Payment Volumes, Top-Line Data (CY 2015-24), July 2026 | 2026 |
| 79% | Cards accounted for 79% of US noncash payments by number in 2024 but only 8% of their total value, because most card payments are small purchases. | Federal Reserve Board, Federal Reserve Payments Study: National Payment Volumes, Top-Line Data (CY 2015-24), July 2026 | 2026 |
| 120.6B | Debit card payments reached 120.6 billion in 2024, 64% of all card payments by number, and credit card payments rose to 67.1 billion, up 16.2 billion from 2021. | Federal Reserve Board, Federal Reserve Payments Study: National Payment Volumes, Top-Line Data (CY 2015-24), July 2026 | 2026 |
| $104.06T | ACH payments totalled $104.06 trillion in 2024, about three quarters of all US noncash payment value, growing 3.5% a year by value and 3.3% a year by number from 2021. | Federal Reserve Board, Federal Reserve Payments Study: National Payment Volumes, Top-Line Data (CY 2015-24), July 2026 | 2026 |
| 47/month | US consumers made an average of 47 payments a month in 2025. Credit and debit cards accounted for two thirds of all payments, and cash for about 1 in 7, a pattern that has held for three years. | Federal Reserve Financial Services, 2026 Diary of Consumer Payment Choice (survey conducted October 2025), May 11, 2026 | 2026 |
| 38% | 38% of US consumers said they prefer to pay in person by credit card, up from 24% in 2016, almost level with the 40% who prefer debit. | Federal Reserve Financial Services, 2026 Diary of Consumer Payment Choice (survey conducted October 2025), May 11, 2026 | 2026 |
| 23% | 23% of US consumer purchases and person-to-person payments were made remotely (online, by phone or by mail) in 2024, a share that has increased every year since 2021. | Federal Reserve Financial Services, 2025 Diary of Consumer Payment Choice (2024 data) | 2025 |
| 11/month | US consumers made an average of 11 payments a month with a mobile phone in 2024, up from four in 2018. Adults aged 18 to 24 used their phones for 45% of all their payments. | Federal Reserve Financial Services, 2025 Diary of Consumer Payment Choice (2024 data) | 2025 |
| 40% | 40% of adults in Sub-Saharan Africa had a mobile money account in 2024, up from 27% in 2021, and 37% of adults in Latin America and the Caribbean, up from 22%. | World Bank, Global Findex Database 2025, All About Finance blog: Digital technology is unlocking financial inclusion | 2025 |
| +21% | In emerging market and developing economies (EMDEs), the number of cashless payments per person per year rose 21% to 242 in 2024. Advanced economies were far higher at 579 per person but grew only 6%. | Bank for International Settlements, CPMI Brief No 12: Tap a card, pay by phone, but cash still holds its own (2024 Red Book statistics), April 2026 | 2026 |
| 49% | Fast payments rose to 49% of all cashless payments in EMDEs in 2024, from 43%, while in advanced economies they stayed at around 10%. | Bank for International Settlements, CPMI Brief No 12: Tap a card, pay by phone, but cash still holds its own (2024 Red Book statistics), April 2026 | 2026 |
| $46 | In advanced economies, the average card payment fell 13% to $46 between 2018 and 2024, as cards are used for ever smaller purchases. Credit transfers still made up 86% of cashless payment value in advanced economies and 94% in EMDEs. | Bank for International Settlements, CPMI Brief No 12: Tap a card, pay by phone, but cash still holds its own (2024 Red Book statistics), April 2026 | 2026 |
The statistics
The total number of noncash payments in the US rose to 236.6 billion in 2024, with a total value of $140.01 trillion. The number grew 4.9% a year from 2021 to 2024 and the value 2.6% a year.
Cards accounted for 79% of US noncash payments by number in 2024 but only 8% of their total value, because most card payments are small purchases.
Debit card payments reached 120.6 billion in 2024, 64% of all card payments by number, and credit card payments rose to 67.1 billion, up 16.2 billion from 2021.
ACH payments totalled $104.06 trillion in 2024, about three quarters of all US noncash payment value, growing 3.5% a year by value and 3.3% a year by number from 2021.
US consumers made an average of 47 payments a month in 2025. Credit and debit cards accounted for two thirds of all payments, and cash for about 1 in 7, a pattern that has held for three years.
38% of US consumers said they prefer to pay in person by credit card, up from 24% in 2016, almost level with the 40% who prefer debit.
23% of US consumer purchases and person-to-person payments were made remotely (online, by phone or by mail) in 2024, a share that has increased every year since 2021.
Source:Federal Reserve Financial Services, 2025 Diary of Consumer Payment Choice (2024 data)2025
US consumers made an average of 11 payments a month with a mobile phone in 2024, up from four in 2018. Adults aged 18 to 24 used their phones for 45% of all their payments.
Source:Federal Reserve Financial Services, 2025 Diary of Consumer Payment Choice (2024 data)2025
40% of adults in Sub-Saharan Africa had a mobile money account in 2024, up from 27% in 2021, and 37% of adults in Latin America and the Caribbean, up from 22%.
In emerging market and developing economies (EMDEs), the number of cashless payments per person per year rose 21% to 242 in 2024. Advanced economies were far higher at 579 per person but grew only 6%.
Fast payments rose to 49% of all cashless payments in EMDEs in 2024, from 43%, while in advanced economies they stayed at around 10%.
In advanced economies, the average card payment fell 13% to $46 between 2018 and 2024, as cards are used for ever smaller purchases. Credit transfers still made up 86% of cashless payment value in advanced economies and 94% in EMDEs.
When these numbers don't apply
Aggregate statistics hide a lot. Read these caveats before quoting a figure as if it describes your specific situation.
- Number and value tell different stories. Cards make up most US noncash payments by count, but ACH transfers, used for payroll, bills and business payments, carry most of the money. Quote the measure that fits your question.
- The Federal Reserve Payments Study counts payments made by businesses, governments and consumers. The Diary of Consumer Payment Choice covers only consumers' own purchases and person-to-person payments, so their shares are not comparable.
- Diary figures are survey estimates from a sample of US adults who record their payments for a few days each October. 'Remote' means made online, by phone or by mail, not necessarily by mobile app.
- BIS figures cover CPMI member jurisdictions (59% of the world's population and 85% of global GDP). 'Advanced economies' and 'EMDEs' are averages across very different countries, and some jurisdictions report only some years.
- World Bank Findex figures come from surveys of adults in 2024. A 'digital merchant payment' is a payment by a customer to a business in a store or online using a card, phone or account; it says nothing about how businesses pay each other.
- None of these sources measures business-to-business invoice payments directly. They show how payers in general are moving away from cash and checks, not how your own clients will choose to pay.
How we compiled this data
Reviewed on 2026-10-28. We opened each source on that date and kept only figures stated in it. US payment volumes come from the Federal Reserve Payments Study top-line release of July 2026, which covers calendar year 2024. Consumer behaviour comes from Federal Reserve Financial Services' Diary of Consumer Payment Choice: the 2026 edition (survey run in October 2025, published May 11, 2026) and the 2025 edition (2024 data) for remote and mobile payments, which the 2026 summary does not repeat. International figures come from the World Bank's Global Findex 2025 (survey year 2024) and the BIS CPMI Brief No 12 of April 27, 2026, which analyses 2024 Red Book statistics. We removed the earlier Worldpay figures (they linked to a homepage), the Findex 2021 account and digital payment figures (superseded; the 2025 account figure is on our fintech page), an ACI Worldwide real-time payment count (it belongs on our real-time payments page) and a McKinsey revenue estimate we could not match to the linked page. On 2026-10-28 the check and ATM withdrawal figure (9.2 billion checks worth $24.45 trillion in 2024) was removed here so check volumes appear only on the check payment statistics page.
We hand-collected each figure from its original publisher rather than recycling secondary round-ups, cross-checked the headline numbers against the source documents in 2026-10-28, and link every statistic to the report it came from so you can verify it yourself. Where a publisher issues annual updates, we cite the report edition and flag the year inline.
Frequently asked questions
How many digital payments are made in the US each year?
The Federal Reserve counted 236.6 billion noncash payments in 2024, worth $140.01 trillion. Debit cards made up 120.6 billion of them and credit cards 67.1 billion. Check volumes are covered on the check payment statistics page.
Are cards or bank transfers more popular?
It depends on the measure. Cards were 79% of US noncash payments by number in 2024 but 8% by value. ACH bank transfers carried $104.06 trillion, about three quarters of the value, because payroll, bills and business payments are large.
Do people still use cash?
Yes, for small in-person purchases. US consumers paid cash for about 1 in 7 payments in 2025 (Federal Reserve Diary).
How common are mobile and online payments?
In 2024, 23% of US consumer purchases and person-to-person payments were made remotely, and consumers made 11 payments a month with a mobile phone, up from four in 2018. Adults aged 18 to 24 used their phones for 45% of payments.
What are fast payments?
Fast payments are account-to-account transfers where the money reaches the payee within seconds, at any time of day. BIS data show they made up 49% of cashless payments in emerging market and developing economies in 2024, but about 10% in advanced economies.
What do these numbers mean for a small business that sends invoices?
Consumers mostly pay by card, while larger business payments mostly move by bank transfer. A freelancer billing individuals may get paid sooner with a card option on the invoice. A supplier billing companies should make bank transfer details easy to find, because ACH carries about three quarters of US payment value.
Put these figures to use
- Getting paid: terms, reminders, late fees and payment links: Guides on making invoices easy to pay, from payment terms to online payment links.
- Stripe vs PayPal invoicing: fees and features compared: Worked US fees for card and bank payments on invoices of $250, $1,500 and $10,000.
- Square vs Stripe invoicing: fees, plans and features: Where card and bank fees differ when clients pay invoices online.
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