A new study from Juniper Research forecasts that global network tokenised transactions will double by 2029, rising from 283 billion in 2025 to an astonishing 574 billion.
Network tokenisation: Rising to 574 billion
This surge underscores the growing significance of network tokenisation in protecting sensitive cardholder information and combating rising fraud levels across the digital payments ecosystem.
Network Tokens
Network tokens – which replace card details with a secure, valueless digital equivalent issued by card networks – are playing an increasingly critical role.
By safeguarding payment data throughout the transaction lifecycle, tokenisation significantly reduces the risk of fraud, particularly in e-commerce environments where card-not-present transactions remain vulnerable.
With Visa poised to implement stricter global fraud thresholds from January 2026, merchants will face penalties for non-compliance, reinforcing the urgency for widespread token adoption.
Juniper’s Global Network Tokenisation Market 2025-2029 report highlights that tokenisation not only strengthens security but also enhances user experience.
Consumers are increasingly expecting seamless, one-click checkout experiences, which network tokens facilitate by removing the need for manual card entry.
As a result, new initiatives such as Click to Pay are positioned to challenge digital wallets, offering a frictionless alternative for browser-based purchases, particularly in mature card markets like the US and Europe.
Research author Lorien Carter notes that while Click to Pay presents significant promise, overcoming consumer loyalty to entrenched wallet services like Apple Pay will be a key challenge.
Nevertheless, the growing demand for secure, convenient online payments creates fertile ground for tokenisation to flourish.
Beyond Traditional Payments
Beyond traditional payments, the scope of tokenisation is expanding.
The concept now bifurcates into two streams: payment tokenisation, which secures card transactions, and real-world asset (RWA) tokenisation, which digitises assets such as stocks, bonds, and real estate for more efficient transfer.
McKinsey estimates that the tokenised asset market could reach $2 trillion by 2030, as financial institutions increasingly explore blockchain technologies to modernise capital markets.
Major players are already moving.
Visa recently introduced the Visa Tokenized Asset Platform (VTAP), allowing banking partners to create and test fiat-backed tokens within a secure environment.
Meanwhile, Tether’s Hadron platform and BlackRock’s blockchain-based fund initiatives demonstrate the broadening application of tokenisation in mainstream finance.
Mastercard and Visa report that more than 30% of their transaction volumes are now tokenised.
Mastercard claims its tokenisation efforts have helped reduce cart abandonment and increased approval rates by up to six percentage points – 78% of merchants have enabled tokenisation, with adoption rates highest among businesses with annual revenues exceeding $10 million.
As regulatory pressures and consumer expectations converge, the adoption of network tokenisation appears set to accelerate.
Token Service Providers (TSPs) must now innovate further, offering merchants advanced fraud analytics and seamless integration tools, particularly as Apple’s recent decision to open its NFC capabilities to third-party developers introduces new competitive dynamics within digital wallets.
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