Global Online Payment Methods Outlook 2024-2029: Real-time Payments are Witnessing a Surge in Popularity Globally, Serving as a Digital Alternative to Cash

News provided by

Feb 14, 2024, 14:00 ET

DUBLIN, Feb. 14, 2024 /PRNewswire/ -- The "Global Online Payment Methods 2024" report has been added to ResearchAndMarkets.com's offering.

B2C E-Commerce payment value globally is expected to grow steadily through 2027

Global online shopping remains strong despite the return of in-person shopping. B2C E-Commerce payment value is expected to maintain steady growth through 2027, with contactless card transactions set to nearly double by then.

Credit cards remain the top choice for online payments, but digital wallets are gaining popularity. Virtual card transactions and BNPL sales are expected to rise significantly by 2027, showcasing the shift towards alternative payment methods. Asia-Pacific leads in digital payment adoption, while Latin America still favors credit cards but shows potential for growth in digital wallets and BNPL.

Real-time payments to witness significant growth globally by 2027

Real-time payments are witnessing a surge in popularity globally, serving as a digital alternative to cash. Latin America is anticipated to see a nearly fourfold increase in the volume of real-time payments by 2027, indicating a rising preference for this form of online payment. Similarly, the UAE is expected to experience a nearly fourfold increase in real-time payment transactions during the same period, while Egypt is forecasted to undergo triple-digit growth in this area, reflecting significant expansion.

In more advanced online payment markets such as Asia-Pacific, the projected CAGR for real-time payment volume in South Korea and China is expected to remain at single-digit and low double-digit percentages by 2027, illustrating a slower yet consistent adoption of real-time payments in these regions.

Key Questions Answered

What were the top online payment methods preferred by shoppers globally?
How does e-wallet use vary in different countries worldwide?
How is BNPL adoption projected to develop globally by 2027?
What share of adults has made a digital payment in 2022 across various countries?
How is the number of real-time payment transactions projected to develop in different countries globally by 2027?

Company Coverage

Affirm
Afterpay
Apple
Bancontact
CliQ
Fawry
Google
iDEAL
JoMoPay
Klarna
MACH
Mobile Suica
Payconiq
PayPal
Pix
QIWI
Samsung
Sofort
StatisPay
Venmo
Yape
Yoo Money
Zelle

Key Topics Covered:

1. Key Takeaways

2. Management Summary

3. Global Developments

Overview of the Online and Mobile Payment Trends, September 2023
B2C E-Commerce Payment Value, in USD trillion, 2023e & 2027f
Preferred Online Payment Methods For B2C E-Commerce Purchases, in % of Adults, June 2022
Preferred Payment Method When Shopping Online, in % of Respondents, October 2022
Value of Contactless Card Transactions, in USD trillion, 2022e & 2027f
Virtual Card Transaction Value, in USD trillion, 2022e & 2027f
BNPL B2C E-Commerce Sales, in USD billion, 2022e & 2027f
Number of BNPL Users, in millions, 2022e & 2027f
Value of Digital Wallet Transactions, in USD trillion, 2023e & 2028f
Total Number of OEM Pay E-Commerce Transactions, in USD billion, Growth in Transactions, in %, & Average Transaction Volume Per OEM Pay User, in USD, 2026f
Share of OEM Pay E-Commerce Transactions Stemming From Purchases of Digital Goods, in %, 2026f
Top Reasons Why Respondents Are Likely to Abandon Checkout, in % of Adults, June 2022
Most Accessible vs Most Preferred Online Payment Method, in % of Adults, June 2022
Share of Consumers Agreeing With the Following Statements Related to Security of Online Payments, in %, April 2023
Share of Consumers Agreeing With the Following Statements Related to Digital and Mobile Wallets, in %, April 2023
Top Consumer Expectations at Checkout When Making Online Purchases, incl. "Payment Methods", in % of Respondents, October 2022
QR Code Payment Transaction Value, in USD billion, 2023e & 2028f
Cryptocurrency Payment Value, in USD billion, 2020-2025f
Mobile Money Statistics, 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 Region, 2022

4. Asia-Pacific

4.1. Regional

Overview of the Online and Mobile Payment Trends, September 2023
B2C E-Commerce Payment Value, in USD trillion, 2023e & 2027f
BNPL Payment Value, in USD billion, 2023e & 2028f

4.2. Advanced Markets

Japan
South Korea
Australia
New Zealand
Singapore

4.3. Emerging Markets

China
Taiwan
Hong Kong
India
Indonesia
Thailand
Vietnam
Malaysia
Philippines

5. North America

Online Payment Methods Overview and Trends, July 2023
Share of Consumers Agreeing With the Following Statements Related to Digital and Mobile Wallets, in %, April 2023
Share of Payment Methods Used at Least 5 Times Per Month, in % of Consumers, September 2022
Breakdown of Primary Payment Methods For Online and In-Person Purchase of Large Products And Services, in % of Respondents, September 2022
Breakdown of Primary Payment Methods For Online and In-Person Purchases of Small Items, in % of Respondents, September 2022

6. Europe

Overview of Online Payment Market & Trends, July 2023
Payment Methods That Were Used at Least 5 Times a Month, in % of Respondents, September 2022
Breakdown of Digital Wallet Attributes That Respondents Value the Most, in % of Respondents, September 2022
Breakdown of Primary Payment Methods For Online and In-Person Purchase of Large Products and Services, in % of Respondents, September 2022
Breakdown of Primary Payment Methods For Online and In-Person Purchases of Small Items, in % of Respondents, September 2022
Importance of Having the Preferred Payment Method During Domestic or International Online Shopping, in % of Online Shoppers, August 2022
Reasons For Cart Abandonment During Online Shopping, in % of Online Shoppers, August 2022
Breakdown of Number and Value of Online Payments, by Payment Instrument, in % of All Online Payments, June 2022
Breakdown of Online Payments, by Value of Purchase and Payment Instrument, in % of All Online Payments, June 2022
Breakdown of Payment Instruments Used For Online Payments in Terms of Number of Payments, by Countries, in % All Online Payments, June 2022

For more information about this report visit https://www.researchandmarkets.com/r/tvau0b

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo - https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets