Global Online Payment Methods Analysis Report 2022-2025

DUBLIN –

Cards and digital wallets are the most common payment instruments in most regions worldwide

Digital payments in the Asia-Pacific region accelerated, with China being one of the frontrunners toward a cashless society.

Consumers in the North American and Latin American regions still prefer to use credit cards for online shopping in 2022, as per data included in the report, and, in Europe, payments via debit card or credit card were the most preferred methods of payments in multiple countries; however, other European countries differed, exhibiting preferences towards payments via mobile app, Invoice, PayPal, or another form of a digital wallet, and direct bank payment.

In the Middle East and Africa, payment experts expect the transition to digital systems to be sustainable, with a high double-digit percentage of surveyed payment practitioners predicting that at least half of new digital payment users will continue the use of digital payments instead of using cash in the future.

BNPL adoption continues to grow in usage and penetration

The number of Buy Now Pay Later (BNPL) users globally is projected to more than quadruple from 2021 to 2026 and the share of BNPL used in B2C E-Commerce payments is forecasted to increase by 15 p.p. in the same time period, as spelled out in the report.

In North America the BNPL service is gaining momentum, with the number of BNPL users projected to more than triple by 2025 in the U.S. alone. Furthermore, in the APAC region, over three quarters of Australians were aware of the BNPL service and its main market players such as Afterpay and Zip.

Questions Covered in the report:

• How many mobile wallet users are there in regions worldwide?
• What are the leading payment methods used when making online purchases in Asia-Pacific?
• How did online payment preferences differ across countries in Europe in 2021?
• Which payment methods were most offered by online merchants during online checkout in the U.S. and Canada?
• Which payment method is likely to be the market leader in the Middle East & Africa by 2025?

Key Topics Covered:

1. Management Summary

2. Global Developments

• Overview of the Online and Mobile Payment Trends, May 2022
• Payment Value, by B2C E-Commerce Payments and POS Payments, in USD trillion, 2021 & 2026f
• Share of Cash Payments, in % of Total POS Transaction Value, by Region, 2021 & 2025f
• Value of Contactless Card Transactions, in USD trillion, 2020 & 2021e
• Share of Contactless Card Transactions, in % of Overall Contactless Transaction Value, 2021e
• BNPL B2C E-Commerce Sales, in USD billion, 2021e & 2026f
• Number of BNPL Users, in millions, 2021e & 2026f
• BNPL Share of B2C E-Commerce Payments, in %, 2021e & 2026f
• Value of Digital Wallet Transactions, in USD trillion, 2022f & 2026f
• Number of B2C E-Commerce Transactions Paid by OEM Mobile Payment Apps, in billions, 2022f & 2026f
• Number of Mobile Wallet Users, by Region, in millions, 2020 & 2025f
• Proximity Mobile Payment Users Worldwide, in millions, and Year-on-Year Change, in %, 2020-2025f
• Proximity Mobile Payment User Penetration, in % of Smartphone Users, 2020-2025f
• Proximity Mobile Payment User Penetration, in % of Smartphone Users, 2021e
• Payment Methods Accepted by Online Merchants, by Already Accepted and Planned, in % of Online Merchants, February 2022
• Factors Influencing Store Purchasing Choice, Excluding Digital Payments, in % of Consumers, December 2021
• Areas for Growth According to Small Businesses, in % of Small Businesses, December 2021
• Share of Consumers and Small Businesses Planning to Use Digital Payment Methods Exclusively Within the Next Two Years, in %, December 2021
• Cryptocurrency Payment Value, in USD billion, 2018-2023f

3. Asia-Pacific

3.1. Regional

• Overview of the Online and Mobile Payment Trends, July 2022
• Card Payment Value, in USD trillion, and Year-On-Year Change, in %, 2019-2025f
• Breakdown of Payment Methods Used in B2C E-Commerce, in %, 2021

3.2. Advanced Markets
3.2.1. Japan
3.2.2. South Korea
3.2.3. Australia
3.2.4. New Zealand
3.2.5. Singapore
3.3. Emerging Markets
3.3.1. China
3.3.2. Taiwan
3.3.3. Hong Kong
3.3.4. India
3.3.5. Indonesia
3.3.6. Thailand
3.3.7. Vietnam
3.3.8. Malaysia
3.3.9. Philippines

4. Europe

4.1. Regional

• Online & Mobile Payment Trends, June 2022
• Breakdown of Payment Methods Preferred in B2C E-Commerce, in % of Online Shoppers, by Selected Countries, November 2021
• Share of Payment Methods Used In-store in the Past 12 Months, in % of Consumers, July 2021
• Breakdown of Preferred Electronic Payment Methods for In-store Purchases, in % of Consumers, July 2021
• Breakdown of Preferred Electronic Payment Methods for In-store Purchases, in % of Consumers, by Generation, July 2021
• Share of Consumers Who Would Support the Mandatory Acceptance of Digital Payments, in %, July 2021
• Share of Merchants Who Prefer Accepting Electronic Payments Over Cash, in %, July 2021
• Attitudes Towards Saving Card Details in Online Stores, in % of Internet Users, by Selected Countries, 2021
• Breakdown of Intention of B2C and B2B Marketplaces to Launch Embedded Payment Services, in % of Decision Makers, July 2021
• Perceived Advantages of Embedded Payment Services, by Very Appealing and Appealing, in % of Decision-Makers from B2C and B2B Marketplaces, July 2021

4.2. Advanced Markets
4.2.1. UK
4.2.2. Germany
4.2.3. France
4.2.4. Spain
4.2.5. Italy
4.2.6. Netherlands
4.2.7. Switzerland
4.2.8. Sweden
4.2.9. Belgium
4.2.10. Norway
4.2.11. Denmark
4.2.12. Finland
4.2.13. Austria
4.3. Emerging Markets
4.3.1. Russia
4.3.2. Poland
4.3.3. Turkey
4.3.4. Czech Republic
4.3.5. Portugal
4.3.6. Romania
4.3.7. Hungary
4.3.8. Ukraine
4.3.9. Bulgaria
4.3.10. Croatia

5. North America

5.1. Regional
5.2. USA
5.3. Canada

6. Latin America

6.1. Regional

• Online & Mobile Payment Trends, May 2022
• Breakdown of Total E-Commerce Sales by Payment Methods, in %, 2021e
• E-Commerce Payment Volume, by Payment Method, in USD billion, and Year-on-Year E-Commerce Payment Method Growth, in %, 2021e
• Card Ownership in Select Countries, by Card Type, in % of Banked Internet User Population, 2020 & 2021
• Number of Digital-Only Banks, 2012 – 2021e
• Number of Neobank Customers, in millions, 2016 – 2021e

6.2. Brazil
6.3. Mexico
6.4. Argentina
6.5. Colombia
6.6. Chile
6.7. Peru
6.8. Dominican Republic

7. Middle East & Africa

7.1. Regional

• Online & Mobile Payment Trends, June 2022
• Most Preferred Payment Methods by 2025, in % of Respondents, 2020
• Payment Method Likely To Be Market Leader by 2025, in % of Respondents, 2020
• Banks’ Innovation Methods, in % of Banking Executives, March 2021
• Banks’ Priorities by 2026, in % of Banking Executives, March 2021
• How Banks View Their Digital Business Evolvement by 2023, in % of Banking Executives, March 2021
• Trends To Have The Biggest Impact on Banks by 2025, in % of Banking Executives, March 2021
• Overview of Selected Leading FinTech Startups in the Payments Sector, incl. Company Name, Solution, Funding, Country and Year Established, December 2021
• Overview of Mobile Money Statistics in Africa, incl. Number of Live Services, Registered Accounts, in millions, Active Accounts, in millions, Transaction Volume in millions, and Transaction Value, in USD billion, and Year-on-Year Growth, in %, by Sub-Region, 2021
• Total Investment Raised by African FinTechs, in USD million, 2020 & 2021
• Overview of Selected Major FinTech Funding Rounds in Africa, by Country, 2021

7.2. UAE
7.3. Saudi Arabia
7.4. Israel
7.5. Jordan
7.6. Oman
7.7. South Africa
7.8. Egypt
7.9. Nigeria
7.10. Morocco
7.11. Kenya
7.12. Tunisia

Companies Mentioned

• Affirm
• Afterpay
• AliPay
• American Express
• Apple Pay
• Argos Store Card
• BitOasis
• Capital one
• Chipper Chash
• Clearpay
• D Pay
• Dana
• FamiPay
• Flutterwave
• GoPay
• Jumo
• Klarna
• Laybuy
• Legal and general
• LINE Pay
• Lucky
• Maestro
• Mastercard
• Merpay
• MTN-Halan
• Openpay
• OVO
• Palmpay
• Payl8r
• Paypal
• Paysafe
• PayTabs
• Perpay
• PIX
• Postpay
• Quadpay
• QuicPay
• Rakuten pay
• ServiPag
• Similar
• Sizzle
• Starbucks
• Tabby
• Tala
• Tamara
• Tymebank
• Venmo
• Visa
• Wave
• WearOS
• WeChat pay
• Yucho Pay
• Zip
• Zlich

Source: Research and Markets