Key Insights from TGM Global Cryptocurrency Insights 2024

The Future of Mobile Payments: What’s Next Beyond Tap and Pay?

February 17, 2025

(Updated June 28, 2026)

Explore the latest mobile payment trends, from the rise of virtual cards to growing crypto adoption, and what they mean for the future of finance.

Written by

TGM Marketing Team

We're a team of storytellers, here to give you the strategic clarity you need to stay ahead in a constantly changing global market.

Financial transactions are entering a new phase, with mobile payments leading the way. Beyond simple tap and pay, the technology has developed into a smart ecosystem, where digital wallets, virtual cards, and online currencies are centered and connected. As a result, we do not see much use of cash and physical cards throughout the payment process.

According to TGM Global Cryptocurrency Insights 2024, 33% of respondents report that they no longer feel the need to carry cash when leaving home (N=19691). Digital-first finance is trending worldwide. Understanding the driving forces behind these movements and the innovations is essential for businesses, financial industry, and consumers alike.

The Expansion of Digital Payment Methods

The mainstream adoption of smartphones has changed how consumers make payments. Many choose to store their payment credentials directly on their smartphone or through an app, which is way more convenient than physical wallets and cards. Based on the latest report of TGM Research, 23% of respondents prefer using stored cards on mobile devices (N=16796), making this the second most used payment method after cash

23% of respondents prefer using stored cards on mobile devices

Digital payment apps are also seeing a broader acceptance, with 21% of respondents using them for transactions (TGM Global Cryptocurrency Insights 2024, N=19691).

The apps are not only popular mobile wallets like Apple Pay and Google Pay, but also banking apps, merchant platforms, and super apps that provide financial services. Everyday needs like shopping, transportation, and peer-to-peer payments are getting easier and faster with these solutions. Hence, smart digital ecosystems have made payments more efficient and reduced friction across different purchasing experiences.

Another major development is embedded finance, where payment capabilities are unified into non-financial platforms. E-commerce sites, ride-hailing apps, and social media platforms now allow users to make full transactions without leaving the application. Businesses have sharp eyes who have caught the trends, quickly adapt and update features can drive more engagement and loyalty.

Virtual Cards and the Shift to Digital-Only Finance

Financial transactions are at the forefront of the digital shift. We’re seeing a new generation of users, people who aren't just tech-savvy, but also security-conscious. While mobile payments have already established themselves as a convenient solution, virtual cards are the preferred choice for many individuals and businesses.

For users looking for greater control and security in their financial dealings, virtual cards meet that expectation. Our data highlights this behavior: 32% of respondents have used virtual payment cards (TGM Global Cryptocurrency Insights 2024, N=19690) as an alternative that offers protection against fraud and unauthorized transactions.

TGM Global Cryptocurrency Insights 2024 finds that 32% of respondents have used virtual payment cards

Virtual cards are beneficial for online purchases, cross-border payments, and managing subscription services. Unlike physical cards, the virtual ones can reduce the risk of data breaches by generating single-use or limited-use card numbers. The demand for such solutions is rising as cybersecurity threats increase. Many businesses are enhancing encryption, tokenization, and AI-driven fraud detection to protect transactions.

The rise of digital-only banks, or neobanks, further supports the trend toward virtual finance. These banks operate entirely online, offering lower costs but better innovative features such as real-time expense tracking, automated savings, and instant cross-border payments. Since traditional banking models are part of daily life, the synergy between mobile payments and digital-only finance will become even more pronounced.

The Cryptocurrency Factor: The Next Disruptor?

Looking further ahead, the decentralized and borderless features of cryptocurrency can be the future of mobile payments. Even in the initial stages, cryptocurrency's influence is undeniable. TGM data shows that 19% of respondents are already express interest in using it for purchases (N=19690). The number reflects a rising curiosity and a gradual acceptance among consumers, making digital currencies a standard part of how we pay.

Several factors are contributing to this trend. First, more investor involvement is helping to establish a more stable foundation for the sector. Additionally, clearer regulatory developments are providing better guidelines for cryptocurrency use. These changes are fostering a more supportive environment for the mass adoption of digital assets.

19% of respondents already expressing interest in using it for purchases

Conclusion

TGM Research’s Cryptocurrency Insights 2024 highlights the rapid expansion of mobile payments and the adoption of digital solutions. We’re moving away from cash and settling more with mobile wallets, virtual cards, and embedded finance.

The future of mobile payments will be continuous innovation, regulatory alignment, and shifting consumer behavior. Businesses, financial institutions, and policymakers must remain agile, adapting to new technologies to provide secure and accessible financial services. The growth of mobile payments will play an even greater role in building up the future economy.

Beyond mobile payments, cryptocurrency is driving financial innovation on a global scale. See how crypto plays a role in the cashless society movement.

For a detailed local perspective, purchase the country report to explore market-specific insights and consumer behaviors.

Uncover Global Trends in Digital Finance

Gain deep insights into the next era of payments and crypto with TGM Global Cryptocurrency Insights 2024.

Get the Report