Global Digital Payment Forecasts Report 2022: Global Cashless Transactions are Projected to Grow at an Annualized Rate of about 18% from 2020 to 2025

DUBLIN, Feb. 22, 2022 /PRNewswire/ -- The "Global Digital Payment Forecasts 2022-2025" report has been added to ResearchAndMarkets.com's offering.

The report provides insights into the future trends of the global digital payment market. Among other findings, the publication reveals that by 2025, the value of online payments in Europe is forecasted to increase from 2021 to exceed the one trillion-euro mark by 2025.

By 2025 the volume of non-cash transactions in the global market is forecasted to surpass the one and a half trillion mark

The global online payments industry was profoundly shaped by the COVID-19 global health crisis in 2020, which has led to a major advancement in the market since then. The rate of adoption of cashless payments has accelerated dramatically and is projected to grow even more.

In fact, global cashless transactions are projected to grow at an annualized rate of about 18% from 2020 to 2025 and exceed the one and a half trillion mark in volume. The region adding the most value is expected to be Asia-Pacific. Asia-Pacific will be followed by Europe in 2025, and then North America.

Asia-Pacific is forecast to continue to be the world's leading regional market for mobile wallet payments

The COVID-19 pandemic has accelerated the use of mobile payments worldwide since 2020. This is attributed to the accelerated security and cross-channel payment features of mobile contactless payments. In 2021, China is expected to be the leading country in the share of contactless mobile payment users, accounting for more than 4 out of every 5 smartphone users, distantly followed by South Korea and the United States.

In addition, mobile wallets have become the primary way to make payments in a number of regions, as authorities attempt to reduce the use of cash. In Asia-Pacific, for example, the number of mobile wallets in use is projected to have more than doubled over the next few years from 2021 to 2025. Latin America is projected to follow the APAC region in the number of mobile wallets in use, reaching more than 600 million by 2025.

Questions Covered in the report:

• What is the projected value of cashless transactions worldwide in 2025?
• Which market is expected to lead in the proximity mobile payment user penetration rate in 2021?
• What country worldwide is predicted to reach the largest volume of proximity mobile wallets in use by 2025?
• How do the pre-COVID-19 projections of mobile payment value for 2025 in India differ from the post-COVID-19 ones?
• Which payment channel is forecasted to contribute the most to total gross transaction value in Southeast Asia by 2025?

Companies Mentioned

• Alipay
• Android Pay
• Apple Pay
• Paypal
• Samsung Pay

Key Topics Covered:

1. Management Summary

2. Global Developments

• Non-Cash Transaction Volume, by Regions, in billions, and Y-o-Y Change of Global, in %, 2020 - 2025f
• B2B Non-Cash Transaction Volume, by Regions, in billions, and Y-o-Y Change of Global, in %, 2019 - 2025f
• Number of Mobile Contactless Transactions, in billions, 2021e & 2023f
• Number of Cashless Transactions, in billions, CAGR, in %, 2020, 2025f & 2030f
• Proximity Mobile Payment Users in Select Countries, in % of Smartphone Users, 2021e

3. Asia-Pacific

4. Europe

5. North America

6. Latin America

7. Middle East & Africa

For more information about this report visit https://www.researchandmarkets.com/r/duky1a

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SOURCE Research and Markets