Security measures are becoming more important worldwide with the acceleration of digital payments. In fact, the number of those who will be confirming transactions with voice recognition is forecasted to grow at a CAGR of nearly 45% between 2020 and 2025. Read more about the alternative payment market worldwide amid…
“Digital wallet” was the leading alternative online payment method in Indonesia, while “credit card” was the least popular, as of the first half of 2020. Read more about the alternative payment market worldwide amid and post-COVID-19 in the new yStats.com publication “Global Alternative Payment Methods 2021 Post COVID-19”. With…
The COVID-19 health crisis significantly transformed the payment world in 2020 and led to some major consequences that include changed consumer shopping behavior, the way businesses now operate and new governments’ regulations. Many countries worldwide witnessed an extensive acceleration of mobile payments. The increase in the number of mobile payments…
Digital payments accelerated considerably in the Asia-Pacific region in 2020 amid the COVID-19 health crisis. Among other contributors to that growth were the increased smartphone penetration, Internet access and high digital adoption rate. Asia-Pacific dominated in cashless transactions in 2020 and was forecasted to remain the global leader over…
The online payment market in Latin America was profoundly impacted by the COVID-19 health crisis in 2020. With the governmental restrictions imposed in 2020, businesses and consumers started adopting new ways of paying. Namely, mobile payments gained momentum in the region, with regional B2C E-Commerce leader Mercado Libre reporting…
During the COVID-19 pandemic, the global business-to-business industry, despite being more resistant to change than retail sales, has increasingly started moving towards E-Commerce. Between 2019 and 2020, the value of B2B digital sales grew by almost 20%, and in February 2021, E-Commerce accounted for more than half of business-to-business…
Unlike other regions of the world, the Middle East B2C E-Commerce market has developed slowly. Furthermore, the Internet penetration rate in the Middle East was in 2020 was estimated at 40%, far lower than the 80-90% penetration rate of the leading global regions. In a pre-COVID-19 assessment, the value…
The online payment industry in the Middle East and Africa continues to accelerate, especially after the onset of COVID-19 pandemic in 2020. After the lockdown, consumers adopted even more strongly the alternative ways of payments when shopping due to the fact that they were faster, more secure and did…
Amazon Business was expected to grow much faster than B2C Amazon, Alibaba is showing no signs of decreasing demand, and many B2B start-up marketplaces are raising substantial investment funding amid the COVID-19 pandemic. In 2020, furthermore, the Gross Merchandize Value of third-party marketplaces was expected to grow by about…
During COVID-19, bank wire transfers, bank debit and cheques continued to be the go-to payment choice for B2B companies worldwide. For B2B companies worldwide. Specifically for E-Commerce, however, businesses preferred credit cards, terms (30-60-90), and mobile wallets. The fact that the digitalization of business-to-business payments is important was understood…