Domestic payments identified as most significant opportunity for utilization of emerging digital payments among financial professionals, according to the 2025 AFP Digital Payments Survey
Approximately one-third of organizations are now familiar with tokenized purchases within emerging digital payments, according to the 2025 AFP Digital Payments Survey. About 30% of survey respondents reported being familiar with cryptocurrencies, blockchain technology, stablecoins or the role of central bank digital currencies within emerging digital payments. Respondents believe that the most significant opportunity for the utilization of emerging digital payments is for domestic payments.
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In light of this rising awareness, over the next three years, 76% of organizations expect to update their payments strategy according to the survey. The top three updates anticipated by these organizations include exploring new payment formats/channels with expanded technology capabilities (72%), updating/migrating payment file formats (40%) and developing a comprehensive strategy for baseline payment type usage/need (38%).
Additional key findings from the survey include:
— Eighty-seven percent of organizations report engaging in cross-border payments, an increase of 9 percentage points from 2022. Greater shares of publicly owned organizations and organizations with annual revenue of at least $1 billion report cross-border payments than do privately held and smaller firms.
— Among survey respondents, checks are currently being used to make 26% of B2B payments, a drop of 7 percentage points from 2022.
— Over 30% of survey respondents report that faster payments are having a positive impact on their organizations. Twenty-eight percent of organizations report using faster payments for B2B transactions.
— Only 5% of organizations acknowledge that the March 2025 Executive Order 14247, Modernizing Payments to and From America's Bank Account, has prompted them to convert the majority of their B2B payments to digital payment methods. Close to one in five organizations shifting a majority of their payments to digital payments indicate that their shift is partly influenced by the executive order.
“Between new technological capabilities and the promise of faster payments, this year's survey reveals a clear sense of urgency for organizations to focus on upgrading their payment strategies. AFP is committed to connecting financial professionals with the insights they need to navigate their digital payments transformation successfully,” said Pat Culkin, President & CEO of AFP.
Martha Beard, Managing Director, Global Head of Industry Advocacy, J.P. Morgan Payments, said, “The results of this year's survey confirm the permanent trend towards digital payments. We are committed to supporting organizations as they continue their digital transformation and remain steadfast in serving as a trusted leader and innovator to help move money, information and assets safely around the world.”
The 2025 AFP Digital Payments Survey was conducted in May 2025, underwritten by J.P. Morgan and received 223 responses from corporate practitioners based in the U.S. and Canada with the following job titles: Vice President & Treasurer, Treasurer, Assistant Treasurer, Director Treasury, Manager Treasury, Cash Manager and Treasury Analyst.
Please direct all press inquiries to Joe Hodanich, Senior Director, Digital Strategy & Content, at jhodanich@financialprofessionals.org.
About AFP®Headquartered outside of Washington, D.C., and located regionally in Singapore, the Association for Financial Professionals (AFP) is the professional society committed to advancing the success of treasury and finance members and their organizations. Established and administered by AFP, the Certified Treasury Professional and Certified Corporate FP&A Professional credentials set standards of excellence in treasury and finance. Each year, AFP hosts the largest networking conference worldwide for about 7,000 corporate financial professionals.
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SOURCE Association for Financial Professionals
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