HCLTech, a global technology company, has released the findings of its most recent research on the payments industry. The study emphasizes that the sector is rapidly evolving toward an AI-powered, autonomous future, while simultaneously grappling with major challenges related to trust, regulatory readiness, and the limitations imposed by legacy systems and infrastructure.

The report underscores a paradox: although AI is regarded as crucial for delivering seamless customer experiences while ensuring fraud protection, many organizations lack the governance and infrastructure to implement it responsibly.

Almost half (49%) operate without formal AI policies, and concerns around hallucinations, synthetic fraud, and data leakage are widespread. The situation is particularly acute in continental Europe, where just 19% of executives feel fully prepared for the future of payments.

Key findings reveal a mixed landscape in payments: AI adoption is nearly universal (99%), yet 91% of executives worry about its risks, and 60% find fraud detection tools ineffective. While 52% of organizations aim for autonomous operations within 18–24 months, only 17% are fully operational.

Innovation is prioritized over modernization, yet only 20% have cloud-native, real-time data systems. Customer expectations add pressure, with 87% fearing losses without instant payments. In Europe, caution prevails: 12% of executives doubt Agentic AI’s long-term value, and 57% favor iterating on existing products over adopting new solutions.

“Payments leaders are embracing innovation, but the gap between ambition and readiness is stark,”

said Srinivasan Seshadri, Chief Growth Officer and Global Head, Financial Services at HCLTech.

“This research underscores the need for Responsible AI governance, infrastructure modernization and strategic clarity to thrive in the evolving payments landscape.”