Online Payment Methods in North America 2022: BNPL Users Expected to More Than Triple by 2025 – ResearchAndMarkets.com

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DUBLIN–(BUSINESS WIRE)–The “Online payment methods in North America 2022” report has been added to from ResearchAndMarkets.com offer.

Cards continue to dominate the online payments landscape in North America

While mobile wallets have seen a surge in usage and popularity during and after the pandemic, most consumers in the United States and Canada still prefer to use credit cards for online purchases in 2022. according to the data included in the report.

Nonetheless, mobile wallets are growing in acceptance, already supported by around one in two e-commerce merchants in the US and one in three in Canada. In-store use of mobile payment solutions is also on the rise as competition between major vendors such as Apple and Google intensifies.

U.S. Consumer Adoption of BNPL Continues to Grow in Usage and Penetration

A payment solution that is gaining popularity with consumers in North America is the Buy Now Pay Later (BNPL) service. In the United States alone, the number of BNPL users is expected to more than triple by 2025. The younger generation saw the highest BNPL user penetration rates in 2021.

Additionally, about one-third of US online shoppers used BNPL as a payment method, and nearly half of all BNPL users preferred using BNPL over credit cards. When it comes to BNPL platforms used, Afterpay and Klarna were in the lead in the US, according to a recent survey cited by the analyst.

Questions covered in the report:

  • What are the most popular payment methods used by US online shoppers in 2022?

  • What payment methods are currently offered by North American online merchants and how should acceptance change in the future?

  • What role do mobile payment methods play for post-pandemic in-store payments in the United States?

  • How does the US share of BNPL usage for B2C e-commerce purchases compare to the global average?

  • Which payment methods were the most offered for online payment in Canada in 2021?

Main topics covered:

1. Management Summary

2. Global developments

  • Trends in online and mobile payments, May 2022

  • Value of payments, by e-commerce payments and POS payments, in USD trillion, 2021 and 2026f

  • Share of cash payments, as % of total value of POS transactions, by region, 2021 and 2025f

  • Value of contactless card transactions, in USD trillion, 2020 and 2021e

  • Share of contactless card transactions, in % of the total value of contactless transactions, 2021e

  • BNPL B2C e-commerce sales, in billion USD, 2021e & 2026p

  • Number of BNPL users, in millions, 2021e & 2026f

  • BNPL’s share of B2C e-commerce payments, in %, 2021e & 2026f

  • Value of Digital Wallet Transactions, USD Trillion, 2022f & 2026f

  • Number of B2C e-commerce transactions paid by OEM mobile payment apps, in billions, 2022f and 2026f

  • Number of mobile wallet users, by region, in millions, 2020 and 2025f

  • Mobile proximity payment users worldwide, in millions, and annual change, in %, 2020-2025f

  • Penetration of mobile proximity payment users, as % of smartphone users, 2020-2025f

  • Penetration of local mobile payment users, in % of smartphone users, 2021e

  • Payment methods accepted by online merchants, by already accepted and planned, in % of online merchants, February 2022

  • Factors influencing in-store shopping choice, excluding digital payments, % of consumers, December 2021

  • Growth areas according to small businesses, % of small businesses, December 2021

  • Share of consumers and small businesses planning to exclusively use digital payment methods in the next two years, in %, December 2021

  • Value of cryptocurrency payments, USD billion, 2018-2023f

3. North America

3.1. Regional

  • Overview of online and mobile payment trends, May 2022

3.2. United States

3.3. Canada

Companies cited

  • To affirm

  • After-payment

  • Klarna

  • PayPal

  • paysafe

  • Perpay

  • Quadruple payment

  • Sizzle

  • Starbucks

  • Venmo

  • WearOS

For more information on this report, visit https://www.researchandmarkets.com/r/obqbj9

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