Insights into alternative online payment methods around the world

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Dublin, Sept. 23, 2022 (GLOBE NEWSWIRE) — The “Global Alternative Online Payment Methods 2022” report has been added to from ResearchAndMarkets.com offer.

After the spread of the COVID-19 pandemic, alternative payment methods have become more frequently used, especially digital wallets. The global value of digital wallets is now expected to increase from 2022 to reach a value of several trillions of euros in 2026.

Other alternative payment methods have also gained momentum, including prepaid cards, BNPL and bank transfers. The adoption of these alternative payment methods has a strong potential to be useful to online merchants. A survey cited in the report reveals that more than a third of consumers consider accepting digital payments to be a factor influencing their choice of in-store purchase.

Additionally, almost half of online merchants who do not yet accept payments via digital wallets are considering doing so, and almost a third of small businesses surveyed also revealed that their acceptance of new payment methods is an area of ​​growth. The acceptance of alternative payment methods, such as mobile and digital wallets, by online businesses in Bulgaria has proven beneficial, with more than half seeing an increase in sales share.

The use of BNPL is increasing

Apart from cryptocurrency and QR code payments, BNPL is another important payment method that continues to increase its presence globally. The number of BNPL users is expected to increase from 2021 to 2026 to reach a value of several billion euros.

BNPL’s share of B2C e-commerce payments made is also expected to more than double by 2026, compared to what it was in 2021. In addition, Klarna was the most used BNPL provider by major payment websites. e-commerce, holding a notable market share. BNPL services from March 2022. Klarna’s presence has been growing since 2019, reaching a significant number of users in 2021.

Main topics covered:

1. Management Summary

2. Global developments

  • Trends in online and mobile payments, July 2022
  • Most used payment methods when shopping online during the pandemic, as % of online shoppers, by selected countries, April 2021
  • Payment methods used more frequently compared to the pre-COVID-19 period when shopping online, in % of online shoppers, by selected countries, April 2021
  • Payment methods used more frequently compared to the pre-COVID-19 period when shopping online, in % of online shoppers, by selected countries, April 2021
  • Value of Digital Wallet Transactions, USD Trillion, 2022f & 2026f
  • Value of QR code payment transactions, in USD trillions, 2022e and 2025f
  • Value of cryptocurrency payments, USD billion, 2018-2023f
  • Number of B2C e-commerce transactions paid by OEM mobile payment apps, in billions, 2022f and 2026f
  • Number of BNPL users, in millions, 2021e & 2026f
  • BNPL’s share of B2C e-commerce payments, in %, 2021e & 2026f
  • BNPL services market share, % of top e-commerce websites supporting BNPL as a payment method, March 2022
  • Breakdown of e-commerce sites offering BNPL as a means of payment, by country, in %, October 2021
  • Number of Klarna users, in millions, 2019-2021
  • Factors influencing in-store shopping choice, excluding digital payments, % of consumers, December 2021
  • Growth areas according to small businesses, % of small businesses, December 2021
  • Payment methods accepted by online merchants, by already accepted and planned, in % of online merchants, February 2022
  • Share of consumers and small businesses planning to exclusively use digital payment methods in the next two years, in %, December 2021
  • Mobile proximity payment users in selected countries, as % of smartphone users, 2021
  • Value of B2C e-commerce losses due to online payment fraud, USD billion, 2020 and 2021e

3. Asia-Pacific
3.1. Regional

3.2. Advanced Markets
3.2.1. Japan

  • Payment methods used in B2C e-commerce, as % of online shoppers, 2021
  • General payment methods used, in % of respondents, January 2022
  • Distribution of attitude towards the future use of mobile payments, in % of smartphone users, February 2022
  • Distribution of the most used mobile payment services by QR code, in % of mobile payment users by QR code, January 2022

3.2.2. South Korea

  • Breakdown of payment methods used in B2C e-commerce, in %, 2021
  • Ownership and use of mobile wallet, % of adults, H1 2021

3.2.3. Australia

  • BNPL turnover, in billion AUD, financial year 2019 and financial year 2021
  • Awareness and use of Buy Now Pay Later payment methods, in % of respondents, September 2018 and June 2021
  • Awareness of certain Buy Now Pay Later services, in % of respondents, September 2018 / August 2020 and June 2021
  • Use of certain online payment platforms, as a % of respondents, January 2018 and June 2021

3.2.4. New Zealand

  • BNPL and credit card usage, by generation, % of respondents, January 2021

3.2.5. Singapore

  • Preferred payment methods in B2C e-commerce, % of online shoppers, 2021
  • Changes in consumer behavior following COVID-19 according to online merchants, incl. Payment-related, % of SMEs online, September 2021
  • Share of adults who would prefer to use BNPL to purchase an item they could not immediately afford, in %, December 2021

3.3. Emerging Markets
3.3.1. China

  • Preferred payment methods in B2C e-commerce, % of online shoppers, 2021
  • Most used means of payment, in % of Internet users, February 2022
  • Penetration of online payment users, in % of Internet users, June 2021
  • Number of online payment users, in millions, and penetration, in % of Internet users, 2017-2021
  • Number of real-time payment transactions, in billions, 2020 and 2025f
  • Mobile Wallet Market Breakdown, % of Total Value, July 2021
  • Value of third-party, mobile and online payments, in trillion CNY, 2018-2025f
  • Factors taken into account before choosing a mobile payment platform, in % of Internet users, February 2022

3.3.2. Taiwan

  • Distribution of the most preferred online payment methods, in % of Internet users, August 2021
  • Mobile payment and card user penetration, by age group, in % of Internet users, August 2021

3.3.3. hong kong

  • Distribution of the most used online payment methods, in %, 2023f

3.3.4. India

  • Breakdown of total transaction volume, by type of payment method, in %, 2021
  • Breakdown of total transaction volume, by type of payment method, in %, 2026f
  • Breakdown of total transaction value, by type of payment method, in %, 2021
  • Breakdown of total transaction value, by type of payment method, in %, 2026f
  • Preferred payment methods in B2C e-commerce, % of online shoppers, 2021
  • Overview of selected functions available in the main mobile wallet applications, July 2021

3.3.5. Indonesia

  • Preferred payment methods in B2C e-commerce, % of online shoppers, 2021
  • Use of digital wallet and mobile banking, by generation, in % of mobile payment users, H2 2021
  • Most used digital wallet platforms, as % of mobile payment users, by socio-economic status, H2 2021

3.3.6. Thailand

  • Preferred payment methods in B2C e-commerce, % of online shoppers, 2021
  • Preferred payment methods in B2C e-commerce, % of online shoppers, 2021
  • Breakdown of daily payment transactions by means of payment, in %, 2021

3.3.7. Vietnam

  • Preferred payment methods in B2C e-commerce, % of online shoppers, 2021

3.3.8. Malaysia

  • Preferred payment methods in B2C e-commerce, % of online shoppers, 2021

3.3.9. Philippines

  • Breakdown of means of payment in B2C e-commerce, in %, 2021

4.Europe
4.1. Regional
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. Sweden
4.2.8. Belgium
4.2.9. Norway
4.2.10. Denmark
4.2.11. Finland
4.2.12. 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. Bulgaria
4.3.9. Croatia

5. North America
5.1. Regional
5.2. UNITED STATES
5.3. Canada

6. Latin America
6.1. Regional
6.2. Brazil
6.3. Mexico
6.4. Argentina
6.5. Colombia
6.6. Chile
6.7. Peru

7. Middle East and Africa
7.1. Regional
7.2. United Arab Emirates
7.3. Saudi Arabia
7.4. South Africa
7.5. Egypt
7.6. Nigeria

Companies cited

  • To affirm
  • After-payment
  • Alipay
  • Pay Apple
  • At Pay
  • Clearpay
  • to pay
  • Dana
  • Google Pay
  • ideal
  • Klarna
  • LINE pay
  • MasterCard
  • merpay
  • Payconiq
  • PayPal
  • Payment
  • PayU
  • Przelewy24
  • Quadruple payment
  • Rakuten payment
  • Sezzle
  • Rustling
  • Visa
  • Pay Yucho
  • zipPay

For more information on this report, visit https://www.researchandmarkets.com/r/vqewn7


        
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