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Digital payments are already altering the way we shop, dine and go about our daily business.

Gen Z is proving to be an eager adopter of new payment technologies. A 2025 report found that up to 91% of zoomers in the US use smartphone apps like Apple Pay, Google Pay, Venmo or PayPal.

Gen Z comprises 27% of the global workforce — and their digital habits are already influencing the way businesses operate.

“This trend signals a permanent shift toward digital payment methods that will only accelerate as Gen Z assumes more decision-making roles in business,” said the report by Billtrust, a fintech company that has studied usage trends over the last decade. As much as Gen Z and other consumers may think they don’t need traditional banks anymore, banks are capitalizing heavily on the digital payment revolution. Many are partnering with fintech giants to stay relevant; other banks continue to evolve.

“In a time when many consumers are embracing digital banking, some banks are redefining their branches, rather than being in a hurry to close them,” said Karen Bennett, a banking analyst with Bankrate.

In fact, Bennett said, the US bank branch network has now “posted three consecutive quarters of net growth, which is the first stretch like that since 2009,” meaning they have added a net gain of 120 branches during that time. Traditional banks, she said, are catering to all needs, across generations, “by keeping branches around and also enhancing their digital apps.”

“Consumers are now more likely to turn to apps than branches for routine banking tasks like deposits, transfers and balance checks,” Bennett said. “In turn, branches are often being repositioned around the transactions or conversations that still benefit from human contact.”That includes things like mortgages, advice on big financial decisions, opening a first savings account, and working through fraud issues on an account.

Two big shifts are driving innovation, especially in the Middle East, said Gaurang Shah, an executive vice president of Mastercard who is focused on expanding and driving digital payment innovations and strategies.

“Digital payment innovation is at its frenzy,” he said, “and the consumer demands and expectation has gone off the roof, especially after the pandemic. So, the consumer wants or expects a seamless digital first journey with embedded payments that they can trust inherently.”Shah made his comments earlier this year at the Web Summit Qatar that brought together more than 30,000 people from over 120 countries, including tech leaders, innovators and investors to discuss the Middle East’s digital ecosystem.

Shah predicted that by 2030, consumers would be able to go to their favorite coffee shop — and instead of placing their order, their eyes and face would get scanned through biometrics authentication. “That’s the world we are going to be moving into,” he said.

The pace of change in digital banking is evident around the Mideast and Asia where financial institutions are asking questions like: Why can’t every phone be a commerce device? What more can be done to help vendors to improve sales through digital transactions? And how can we improve the customer experience by shaving off a few more seconds at checkout?

At the same Qatar conference, Ali Abulhasan, the co-founder and CEO of Tap Payments, said his contactless payment company is already processing about $200 billion in digital transactions a year in the wider Gulf Cooperation Council (GCC) region. “We believe in the next five years,” he said, “that’s going to be at least doubling to reach over $400 billion.”The change is seemingly everywhere in urban areas: QR codes at restaurants, tap payments at vendors and retail stores alike.

Jassim Althani, a senior corporate banking relationship manager with Ahli Bank Qatar, said one of the big reasons why many Mideast and Asian countries are adapting quicker than the West is that digital finance is seen as key to growing their economies.

“In the Gulf, we have strong regulation, but there’s also flexibility to support innovation,” Althani told CNN. “In parts of Europe, regulatory complexity and higher costs can make change more difficult. But it also comes down to convenience — people adopt something quickly when it makes their daily lives easier.”

And the bottom line, he said, is consumers increasingly want everything done directly on their phones. “The challenge,” he said, “is making everything simple without compromising security or customer support.”

The Covid-19 pandemic accelerated the pace and acceptance of ditching cash for digital payments — to the point where “people are comfortable with doing things on the go.”

“In five years, I expect more everyday financial services to happen through our phones, with faster transfers and easier payments across borders,” he said. “Cash will still be around, but we’ll rely on it less.”People might visit bank branches less frequently these days, he said, but banks remain more relevant than ever, for our salaries, payments, savings and financing.

“Even when someone pays through a [digital] wallet, there’s often a bank supporting the transaction behind the scenes,” Althani said. “Banking is becoming less visible, but it’s still central to our daily lives.”