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A new whitepaper titled The Future of Global Payments & Fourth Generation Payment Networks (4GPN) has been jointly released by the Thunderbird School of Global Management and fintech firm Wiseasy.
The paper outlines how emerging technologies such as IoT, blockchain, cryptocurrency, and cloud computing are converging to transform the digital payments industry, with Fourth Generation Payment Networks (4GPN) playing a central role.
The global digital payments market is expected to grow from US$10.18 trillion in 2024 to US$32.07 trillion by 2033, according to industry estimates.
This projected compound annual growth rate of 13.6% reflects a significant move toward cashless economies, influenced by fintech developments, financial inclusion policies, and new payment infrastructure models like 4GPN.
The whitepaper provides a detailed look at the factors driving this evolution, including the rise of digital wallets, buy now pay later (BNPL) services, central bank digital currencies (CBDCs), and stablecoins.
It positions 4GPN as a flexible and scalable infrastructure designed to integrate both traditional payment methods such as EMV cards and newer options like biometrics and digital currencies.
The paper emphasises that 4GPN can address the needs of both banked and unbanked populations, across both emerging and mature markets.
Citing World Bank data, the paper notes that 1.7 billion adults remain unbanked globally, despite 1.1 billion of them owning mobile phones.
It argues that mobile-first 4GPN systems could bridge this gap by enabling secure and real-time payments that work across platforms.
The whitepaper also covers regional trends, such as the dominance of super apps in Asia-Pacific and mobile-driven financial inclusion in Latin America.
It explores the role of artificial intelligence in fraud prevention, the potential of account-to-account (A2A) transactions, and the need for clear regulatory frameworks to support innovation.
Developed with input from industry professionals and drawing on data from McKinsey, Statista, and the World Bank, the report serves as a reference for policymakers, payment providers, and financial institutions examining developments in the global payments landscape.
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