The global banking and payments industry experienced a 27% rise in new job postings related to online payments in Q2 2023 compared with the previous quarter, according to GlobalData’s Job Analytics. This compares to a 50% decrease versus Q2 2022. An overview of the impact of instant payment technology on the payments industry is included in GlobalData’s Instant Payments Market Analysis report along with information on key countries and companies in the sector and instant payment-associated risks and solutions. Buy the report here.

Notably, Computer and Mathematical Occupations jobs accounted for a 38% share of the global banking and payments industry’s online payments-related total new job postings in Q2 2023, up 107% over the prior quarter.

Computer and Mathematical Occupations drive online payments-related hiring activity

Computer and Mathematical Occupations, with a share of 38%, emerged as the top online payments-related job roles within the banking and payments industry in Q2 2023, with new job postings rising by 107% quarter-on-quarter. Management Occupations came in second with a share of 21% in Q2 2023, with new job postings dropping by 6% over the previous quarter.

The other prominent online payments roles include Business and Financial Operations Occupations with a 6% share in Q2 2023, Office and Administrative Support Occupations with a 3% share of new job postings.

Top five companies in banking and payments industry accounted for 80% of hiring activity

The top companies, in terms of number of new job postings tracked by GlobalData, as of Q2 2023 were PayPal, PayU, National Australia Bank, Nets, and Kotak Mahindra Bank. Together they accounted for a combined share of 80% of all online payments-related new jobs in the banking and payments industry.

PayPal posted 956 online payments-related new jobs in Q2 2023, PayU 222 jobs, National Australia Bank 134 jobs, Nets 100 jobs, and Kotak Mahindra Bank 47 jobs, according to GlobalData’s Job Analytics.

Hiring activity was driven by the US with a 35.02% share of total new job postings, Q2 2023

The largest share of online payments-related new job postings in the banking and payments industry in Q2 2023 was in the US with 35.02% followed by India (31.56%) and Australia (7.75%). The share represented by the US was one percentage point lower than the 36.16% share it accounted for in Q1 2023.

For further understanding of GlobalData's Instant Payments Market Analysis, Key Trends, Strategies, and Future Implications, 2022 buy the report here.

This content was updated on 24 July 2023

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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

GlobalData’s Jobs Analytics uses machine learning to uncover key insights from tracking daily job postings for thousands of companies globally. Proprietary analysis is used to group jobs into key thematic areas and granular sectors across the world’s largest industries. classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.