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Global Digital Payment Forecasts 2022-2025

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Description

Countries Covered: Argentina, Brazil, Canada, Chile, China, Colombia, Egypt, France, Germany, India, Indonesia, Italy, Japan, Mexico, Nigeria, Philippines, Russia, Saudi Arabia, Singapore, South Korea, UAE, United Kingdom, USA

Pages: 91

Publication Date: 01/02/2022

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?

Key Findings:

The number of mobile wallets in use in Asia-Pacific is projected to exceed half a billion by 2025: new yStats.com report.

Global cashless transaction volume is forecasted to exceed one and a half trillion by 2025

The global digital payment industry was dramatically affected by the health crisis COVID-19 in 2020 and this resulted in major shifts in the development of the market. Although non-cash transactions were already commonly used in many regions before 2020, the adoption rate of such payments accelerated significantly and is projected to increase. Global cashless transactions are projected to grow at about 18% CAGR between 2020 and 2025 and exceed a one and a half trillion mark in volume. The region with the highest numbers is expected to be Asia-Pacific. This area already had a mature non-cash payment market in 2020, however, during the next 5 years, the figures are projected to progressively increase. The region following Asia-Pacific is poised to be Europe and then North America in 2025.

Asia-Pacific is forecasted to remain the biggest regional market for mobile wallet payments in the world

Although before the COVID-19 pandemic, mobile payment usage was extensive in some regions, the health crisis accelerated the trend globally in 2020. This is due to the accelerated security and cross-channel payment features of mobile contactless payments. In 2021, the leading country in the share of proximity mobile payment users is expected to be China, making up 87.3% of smartphone users, distantly followed by South Korea and the United States In China, the share of proximity mobile payment users in the entire population is projected to exceed 67% by 2025. Furthermore, in several regions, mobile wallets have been a crucial way to make payments, as authorities in some markets intend to reduce the usage of cash. In Asia-Pacific, for example, the number of mobile wallets in use is projected to more than double from 2021 to 2025. Although the Asia-Pacific is predicted to be the dominant region in the usage of the mobile wallet, other regions are also forecasted to experience acceleration, such as Latin America, Europe, Africa, and the Middle East. Latin America is forecasted to follow the APAC region in the number of mobile wallets in use, reaching over 600 million by 2025. Even in the emerging markets, where mobile wallets were not commonly adopted in 2020, the forecasts for 2025 show the increased adoption rate. For instance, in Singapore, the penetration rate of mobile wallet payments is projected to surge from about a third to almost 100%, the same goes for Brazil and Mexico.

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

3.1. Regional

  • Number of Mobile Wallet Users, in billions, 2020 & 2025f
  • Mobile Wallet Transaction Value, in USD trillion, and Volume, in billions, 2020 & 2025f
  • Number of Mobile Wallets in Use, in millions, and Year-on-Year Change, in %, 2020 – 2025f
  • Breakdown of Payment Channels, incl. Cash, Cards, A2A and E-Wallet, in % of Total Gross Transaction Value, 2019 – 2021e & 2025f
  • Number of Mobile Wallets in Use, in millions, and Year-on-Year Change, in %, 2020 – 2025f

3.2. China

  • Number of Proximity Mobile Payment Users, in millions, and Year-on-Year Change, in %, 2019 – 2025f
  • Number of Proximity Mobile Payment Users, in millions, and Share, in % of Population, 2019 – 2025f
  • Third-Party Payment Value, by Mobile & Online, in CNY trillion, 2018 – 2025f
  • Mobile Wallet Transaction Value, in USD trillion, and Volume, in billions, 2020 & 2025f
  • Mobile Wallet User Penetration, in % of Population, 2020 & 2025f

3.3. Japan

  • Smart Payment Transaction Value, by Credit/Debit/Prepaid Card & Electronic Money, in JPY trillion, 2019 – 2026f
  • QR Code Payment Value, in JPY billion, Year-on-Year Change, in %, FY 2019 – FY 2024f
  • Top Payment Methods, in % of Adults, September 2021

3.4. South Korea

  • Mobile Wallet Transaction Value, in USD billion, and Volume, in billions, 2020 & 2025f
  • Mobile Wallet User Penetration, in % of Population, 2020 & 2025f

3.5. India

  • Digital Transaction Value, in INR trillion, and Volume, in billions, and Y-o-Y Change, in %, 2018 – 2025f
  • Mobile Payments Value, in INR trillion, and CAGR, in%, by Pre- & Post-COVID-19 Scenario, FY 2015 & FY 2020 & FY 2025f
  • Mobile Wallet Transaction Value, in INR trillion, and Year-on-Year Change, in %, 2016 – 2024f
  • Mobile Wallet Transaction Value, in USD billion, and Volume, in billions, 2020 & 2025f
  • Mobile Wallet User Penetration, in % of Population, 2020 & 2025f

3.6. Indonesia

  • Value of Electronic Money Transactions, in USD billion, and Year-on-Year Change, in %, 2016 – 2021e
  • Mobile Wallet Transaction Value, in USD billion, and Volume, in billions, 2020 & 2025f
  • Mobile Wallet User Penetration, in % of Population, 2020 & 2025f

3.7. Singapore

  • Mobile Wallet Transaction Value, in USD billion, and Volume, in millions, 2020 & 2025f
  • Mobile Wallet User Penetration, in % of Population, 2020 & 2025f

3.8. Philippines

  • Card Payments Value, in PHP billion, and CAGR, in %, 2020 & 2024f
  • Mobile Wallet Transaction Value, in USD billion, and Volume, in millions, 2020 & 2025f
  • Mobile Wallet User Penetration, in % of Population, 2020 & 2025f

4. Europe

4.1. Regional

  • Online Payments Value, in USD trillion, 2020, 2021e & 2025f
  • Number of Mobile Wallets in Use, by Central & East Europe and West Europe, in millions, 2020 – 2025f

4.2. UK

  • Number of Proximity Mobile Payment Users, in millions, and Year-on-Year Change, in %, 2019 – 2025f
  • Number of Proximity Mobile Payment Users, in millions, and Year-on-Year Change, in %, 2019 – 2025f

4.3. Germany

  • Breakdown of E-Commerce Payment Methods, in % of E-Commerce Sales, 2020e

4.4. France

  • Number of E-Money Payments, and Year-on-Year Change, in %, in millions, 2016 – 2020

4.5. Italy

  • Contactless Transaction Value, in EUR billion, H1 2019, H1 2020 & H1 2021

4.6. Russia

  • Online Payment Transaction Value, in RUB billion, 2019 & 2020

5. North America

5.1. Regional

  • Number of Mobile Wallets in Use, in millions, and Y-o-Y Change, in %, 2020 – 2025f

5.2. USA

  • Number of Proximity Mobile Payment Users, in millions, Year-on-Year Change, in %, and Share, in % of Smartphone Users, 2020 – 2025f
  • Proximity Mobile Payment Average Annual Spending Value Per User, in USD, and Y-o-Y Change, in %, 2020 – 2025f

5.3. Canada

  • Number of P2P Mobile Payment Users, in millions, and Year-on-Year Change, in %, 2019 – 2025f
  • Number of P2P Mobile Payment Users, in millions, and Share, in % of Population, 2019 – 2025f

6. Latin America

6.1. Regional

  • Number of Mobile Wallets in Use, in millions, and Year-on-Year Change, in %, 2020 – 2025f
  • Breakdown of Payment Methods, in %, 2020 & 2023f

6.2. Brazil

  • Mobile Wallet Transaction Value, in USD billion, and Volume, in billions, 2020 & 2025f
  • Mobile Wallet User Penetration, in % of Population, 2020 & 2025f
  • Breakdown of Payment Methods, in %, 2020 & 2023f
  • Number of Real-Time Payment Transactions, in billions, 2020 & 2025f

6.3. Mexico

  • Mobile Wallet Transaction Value, in USD billion, and Volume, in billions, 2020 & 2025f
  • Mobile Wallet User Penetration, in % of Population, 2020 & 2025f
  • Number of Real-Time Payment Transactions, in billions, 2020 & 2025f

6.4. Argentina

  • Number of Real-Time Payment Transactions, in millions, 2020 & 2025f

6.5. Colombia

  • Number of Real-Time Payment Transactions, in millions, 2020 & 2025f

6.6. Chile

  • Number of Real-Time Payment Transactions, in millions, 2020 & 2025f

7. Middle East & Africa

7.1. Regional

  • Number of Mobile Wallets in Use, in millions, and Year-on-Year Change, in %, 2020 – 2025f

7.2. UAE

  • Mobile Wallet Transaction Value, in USD billion, and Volume, in millions, 2020 & 2025f
  • Mobile Wallet User Penetration, in % of Population, 2020 & 2025f

7.3. Saudi Arabia

  • Mobile Wallet Transaction Value, in USD billion, and Volume, in billions, 2020 & 2025f
  • Mobile Wallet User Penetration, in % of Population, 2020 & 2025f

7.4. Egypt

  • Mobile Wallet Transaction Value, in USD billion, and Volume, in billions, 2020 & 2025f
  • Mobile Wallet User Penetration, in % of Population, 2020 & 2025f

7.5. Nigeria

  • Mobile Wallet Transaction Value, in USD billion, and Volume, in billions, 2020 & 2025f
  • Mobile Wallet User Penetration, in % of Population, 2020 & 2025f
  • Alipay
  • Android Pay
  • Apple Pay
  • PayPal Holdings Inc.
  • Samsung Pay

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