The total number of tokenised payment transactions is expected to exceed 1 trillion globally by 2026, according to a new study from Juniper Research, from 680 billion in 2022, a growth of 58% over the next 4 years.

The growth is attributed 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.

The research also identified IoT payments as offering the largest growth in the tokenisation market over the next 5 years, with tokenised IoT transactions expected to reach 19 billion by 2027, growing 400% from just 3.8 billion in 2022.