Global Online Payment Methods Analysis Report 2021


Dublin, Nov. 02, 2021 (GLOBE NEWSWIRE) — The “Global Online Payment Methods 2021: After COVID-19” report has been added to from offer.

This report provides an overview of the current status and future trends of the online and mobile payment market globally. Among other findings, the publication reveals that globally, blockchain is expected to be used primarily for cross-border payments and settlements in 2021.

Due to poor card infrastructure in many countries, QR code payments are expected to accelerate significantly globally by 2025

The online payments industry globally accelerated in 2020, leading merchants and customers to embrace digital payments in the wake of the COVID-19 outbreak, leading to increased use of digital wallets , and the number of accounts is expected to increase between 2020 and 2025 with a CAGR of more than 10%, and the overall value of spending on digital wallets is expected to almost double by 2025. Contactless and e-commerce payments are expected to account for half of total wallet spending by 2025. Additionally, QR code payments are also expected to improve and be used by nearly 3 in 10 smartphone owners globally by 2025, and it is believed to be more strong due to poor card infrastructure in emerging markets.

Biometrics, including fingerprint, iris, voice and facial recognition, were crucial in online payments for consumers and payment service providers in 2020

As online payments accelerated, the risk of becoming a victim of fraud and the demand for security measures also increased. Features such as fingerprint, iris, voice recognition and facial recognition are essential for consumers and payment service providers to make online payments more secure, increasing consumer confidence in 2020. The value of biometric-authenticated mobile payments is expected to dramatically increase globally from 2020 to 2025 to over three trillion US dollars.

Despite the rise of the BNPL solution in 2020, credit cards still accounted for the significant share of purchases in the UK

The BNPL solution was also another means of payment in full development in the world. In the United States, the most popular providers of the following services are PayPal, Afterpay, Klarna, Affirm and Quadpay. Common reasons among consumers surveyed for using the following service are purchases that otherwise don’t fit in the budget, avoiding credit card interest, borrowing money without a credit check and others. PayPal Credit and Klarna were also commonly used in the UK in 2020, but credit cards still held the bulk of purchases.

Report cover

  • This report covers the global online payment market. It takes into account a broad definition of online payment, including payment methods used in online shopping and mobile payment, such as remote and proximity payments. Additionally, information related to the impact of the coronavirus (COVID-19) on digital payments around the world is included in this report.
  • The report includes data mostly released within the previous 12 months. The exact publication date of the source is indicated on each map. The period to which the data refer differs depending on the source.

Report Structure

  • The global chapter opens the report, presenting an overview of global developments in online and mobile payments.
  • The rest of the report is divided by region. Within each region, countries are grouped by advanced and emerging markets, where applicable. Additionally, text tables summarizing the impact of COVID-19 on digital payments in each of the regions are included.
  • Depending on data availability, the following types of market information are included: payment methods most used by online and mobile shoppers, breakdown of e-commerce orders by payment methods, number and value of online/mobile/alternative payment, online/mobile transactions/alternative payment user penetration and consumer and merchant attitudes towards online and mobile payments. Not all types of information mentioned are available for each of the countries covered.

Global developments

  • Online and mobile payment Post COVID-19, August 2021
  • Value of payments, in USD trillions, by region and by estimates before and after COVID-19, 2010, 2014, 2018, 2019 and 2020e
  • Top online payment methods, % of respondents, August 2020
  • Use of cash in mature markets, by country, incl. Japan, Singapore, South Korea and the United States, in % of total transaction volume, 2010 and 2020e
  • Use of cash in emerging markets, by country, incl. Indonesia, India, Mexico and China, as % of total transaction volume, 2010 and 2020e
  • Number of cashless transactions, in billions, CAGR, in %, 2020, 2025f & 2030f
  • Mobile proximity payment users in selected countries, as % of smartphone users, 2021e
  • Mobile wallet adoption rate, % of respondents, 2020
  • Share of QR code payments, as % of all digital wallet transactions, 2020 and 2025f
  • Number of real-time payment transactions in selected countries, incl. India, China and South Korea, in billions, 2020
  • Perception of cryptocurrency, % of millennial consumers, March 2021
  • Number of users making online payments with facial recognition, in billions, 2020 and 2025f
  • Number of users who will confirm transactions with voice recognition, in millions, 2020 and 2025f
  • Top payment methods consumers plan to use in the next year, % of consumers, March 2021
  • Top payment methods available, by B2C and B2B, as % of payment decision makers, 2020

Companies cited

  • ACI in the world
  • Adyen
  • To affirm
  • After-payment
  • Alfa Bank
  • Alipay, Tenpay
  • American Express
  • Pay Apple
  • Bancontact
  • Blick
  • BlockFi
  • Boleto Bancario
  • Bread
  • Central Bank of Brazil
  • Civics
  • Coinbase
  • Coinmama
  • Crossinx GmbH
  • Danske bank
  • Ethereum
  • eToro
  • FitBit payment
  • FuturePay
  • Pay Germin
  • Google Pay
  • Handelsbanken
  • Hmm
  • identifier
  • Ingenico
  • Pay JKO
  • Pay Kakao
  • Klarna
  • latitude salary
  • LINE Pay
  • MasterCard
  • MasterPass
  • Free market
  • momo
  • MTS Money
  • N26
  • Not paying
  • Nordea
  • nuapay
  • OP Financial Group
  • openpay
  • PayBright
  • PayPal
  • PayPay
  • paysafe
  • PayU
  • Przelewy24
  • QIWI
  • Quadruple payment
  • Raiffeisen Bank
  • Rakuten Edy
  • Robin Hood
  • Robinhood Markets Inc.
  • rocket bank
  • russian standard
  • Pay Samsung
  • Sberbank
  • Seb
  • Sezzle
  • SimplePayMe
  • Sky Cash
  • Separate it
  • Square Inc.
  • Starbucks
  • Bandaged
  • Suica-Mobile
  • Swedbank
  • Tinkoff
  • unifiedpost
  • Venmo
  • ViettelPay
  • Visa
  • VK payment
  • VTB
  • WhatsApp
  • Yandex.Money
  • ZaloPay
  • Zelle
  • zipper

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