Network tokenisation is on the rise, and according to the new findings from the fintech and payments researcher, Juniper Research, its revenue will reach $8.9billion by 2029 – a 117 per cent increase from 2025 ($4.1billion).
The research was published in Juniper Research‘s Global Network Tokenisation Market: 2025-2029 report, and predicts that the growth of network tokens will mean they are better placed to fight fraud, lower processing costs and streamline checkout experiences for users in the future.
Network tokens are virtual representations that replace card details with tokens issued by card networks, protecting sensitive payment information during transactions. These tokens help facilitate one-click payment checkouts eliminating the need for manual card entry, which consumers have now come to expect every time they want to purchase something.
To meet this consumer demand, payment processors are rapidly developing their token networks. For example, Juniper Research highlights Mastercard‘s efforts as the payment processor has seen its token network grow by 50 per cent, with adoption taking place across mobile, e-commerce, and internet-of-things (IoT) device channels. Looking specifically at European e-commerce, Mastercard aims to tokenise 100 per cent of its transactions by 2030.
Combatting fraud
There are a variety of ways in which the fraud landscape will be impacted by the adoption of network tokens. From a merchant’s perspective, Juniper Research finds that using network tokens means the responsibility of verifying the cardholder’s account and the financial liability for chargebacks are shifted from the merchant to the issuing bank. Consequently, this is estimated to reduce a merchant’s fraud risk by 26 per cent.
Click to Pay growth
The study anticipates the introduction of Click to Pay will enable cards to better compete with digital wallets by providing a one-click payment option at checkout, thus driving growth.
Research author Lorien Carter, commented: “Consumers can already make payments through a single click, with established services like Apple Pay. Card networks must increase the usage of Click to Pay through e-commerce services, and we anticipate the biggest challenge to be overcoming users’ familiarity with other convenient services.
“We expect that the growth of Click to Pay will be most evident in browser-based purchasing, given how well aligned it is to this e-commerce channel.”
The report found that while Click to Pay will thrive in US and European markets, where card ownership is high, emerging markets like Brazil and Southeast Asia present a stronger challenge. To gain traction in these regions, card networks must leverage their established reputation for fraud protection; positioning Click to Pay as a preferred payment method for security-conscious consumers and merchants.
