Summary:
Consumer payments continue to evolve at a rapid pace, leaving many financial institutions across the U.S. wondering where to place their focus while managing limited budgets and human capital. From the rise of instant payments and buy now, pay later to regulatory headwinds and the “all things digital” movement, there’s no shortage of topics to cover when it comes to the future of consumer payments. This is the first in a series of SRM Perspectives papers to delve into what the future could have in store. To kick off the series we chose two topics – credit cards and digital wallets. Let’s explore.
Report Highlights
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Credit cards remain a dominant revenue engine in U.S. consumer payments, capturing over half of total payment revenue and continuing modest growth, especially among affluent segments.
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Digital wallets are expanding rapidly, with usage rising across online and in-store channels and reshaping how consumers access and use payment instruments beyond traditional plastic.
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Strategic innovation and integration matter, as issuers pursue ecosystem personalization, digital wallet partnerships, and seamless experiences to stay relevant in an evolving payments landscape.
Leanne Lange
Managing Director
About The Author
Leanne Lange is Managing Director for SRM’s Payments Advisory Practice. She brings 20+ years of experience in the banking industry, advising leading financial institutions on their strategic initiatives. She was also a panelist at the 2025 Bank Director Acquire or Be Acquired Conference.
Bob Rohr
Managing Director
About The Author
Bob has nearly 20 years of payments and strategic advisory experience within the financial services industry. He works in SRM’s Payment Advisory Practice assisting financial institutions with growth strategies and modernization initiatives.
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