Description
Countries Covered: Argentina, Australia, Austria, Belgium, Brazil, Bulgaria, Canada, Chile, China, Colombia, Czech Republic, Denmark, Dominican Republic, Finland, France, Germany, India, Indonesia, Israel, Italy, Japan, Jordan, Kenya, Mexico, Netherlands, Norway, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Korea, Spain, Sweden, Switzerland, Taiwan, Thailand, UAE, UK, USA, Vietnam
Pages: 201
Publication Date: 24/08/2021
Questions Covered in the report:
- What were the top payment methods for fraud actions globally in 2020?
- What are the top QR code payment service providers used by the Japanese in 2021?
- How did COVID-19 impact payment behaviors when shopping in stores in select European countries?
- What are the typical mobile payment providers used in the US in 2021?
- How would the removal of social distancing and social isolation measures impact the use of shopping channels in the Middle East and Africa, as of 2020?
- What are the most common payment methods to be used in the next year in Saudi Arabia, as of 2021?
Key Findings:
The mobile wallet adoption rate was led by three Asian countries in 2020: Hong Kong, China and Singapore: new yStats.com report.
In 2021, China will have the highest proximity mobile payment penetration rate
Many countries worldwide witnessed an extensive acceleration of mobile payments. The increase in the number of mobile payments in 2020 manifested in mobile commerce value and penetration rate. The value of mobile commerce was projected to grow at 8% from 2020 to 2025 globally and account for almost 80% of overall E-Commerce transaction value in 2025. China was expected to be the market leader in the number of proximity mobile payment users, the share was expected to reach 87% of mobile Internet users in 2021, followed by South Korea and the US. The lagging behind countries despite the increase in the number of users over the year included Brazil, Germany and Mexico. Furthermore, 41% of adults worldwide expected mobile payments to be offered when shopping in-store in 2020, whereas even fewer of them looked forward to making payments with a mobile wallet. Popular mobile payment service providers varied in each country and region in 2020, and among the top ones were iD and Suica Mobile in Japan, Naver Pay and Kakao Pay in South Korea, and Paypal for a significant part of European countries.
Digital wallets gained momentum globally after the COVID-19 onset jumping by 70% between 2020 and 2025
Digital wallet payments globally were triggered by the COVID-19 health crisis in 2020. The number of digital wallet users globally accelerated significantly amid the pandemic in 2020 and is set to continue to grow over the next 5 years, which means that the number of unique digital wallets is predicted to surge by 70% between 2020 and 2025. This is because mobile payments spread fairly quickly around the world and in different markets, leading to the wider use of mobile wallets. When it comes to online wallet adoption, Hong Kong, China and Singapore dominated in 2020, with the rate of 85%, 84% and 71%, respectively, while mature markets as the UK and the US lagged. Furthermore, when it came to offering payment methods, payment decision-makers mostly opted for digital wallets for B2C operations, while for B2B business, the choice fell predominantly on bank wire transfers. QR Code payments that accounted for 47% of digital wallet transactions in 2020 are projected to decline and hold 40% of them in 2025.
1. Management Summary
2. Global Developments
- Online & Mobile Payment Post COVID-19, August 2021
- Value of Payments, in USD trillion, by Region, and by Pre- and Post-COVID-19 Estimates, 2010, 2014, 2018, 2019 & 2020e
- Number of Cashless Transactions, in billions, CAGR, in %, 2020, 2025f & 2030f
- Top Online Payment Methods, in % of Respondents, August 2020
- Top Payment Methods Consumers Consider Using In the Next Year, in % of Consumers, March 2021
- Top Payment Methods Available, by B2C and B2B, in % of Payment Decision-Makers, 2020
- Value of Mobile Commerce Transactions, in USD trillion, 2020 & 2025f
- Share of Mobile Commerce Transaction Value, in % of Overall E-Commerce Transaction Value, 2021e & 2025f
- Mobile Wallet Adoption Rate, in % of Respondents, 2020
- Proximity Mobile Payment Users in Select Countries, in % of Smartphone Users, 2021e
- Number of Digital Wallet Users, in billions, 2020 & 2025f
- Value of Digital Wallet Spending, in USD trillion, 2020 & 2025f
- Number of QR Code Payment Users, in billions, 2020e & 2025f
- Share of QR Code Payment Users, in % of All Mobile Phone Users, 2025f
- Share of QR Code Payments, in % of All Digital Wallet Transactions, 2020 & 2025f
- Cash Usage in Mature Markets, by Countries, in % of Total Transactions Volume, 2010 & 2020e
- Cash Usage in Emerging Markets, by Countries, in % of Total Transactions Volume, 2010 & 2020e
- Value of Mobile Payment Transactions Authenticated via Biometrics, in USD trillion, 2020 & 2025f
- Share of Adults Who Expected Digital Payment Options being Offered When Shopping In-Person, in %, and Particular Digital Payment Options Expected, in % of Adults, November 2020
- Top Payments Methods For Fraud Actions, in % of Fraud & Payment Professionals, August 2020
3. Asia-Pacific
3.1. Regional
- Online & Mobile Payment Post COVID-19, August 2021
- Breakdown of Payment Methods, in % of Consumers, September 2020
3.2. Advanced Markets
3.2.1. Japan
- Proximity Mobile Payment Users, in millions, and Share, in % of Population, 2020 – 2025f
- Top Payment Methods, in % of Adults, July 2021
- Breakdown of Awareness and Usage of Contactless Payments via a Smartphone, in % of Adults, July 2021
- Breakdown of Top Payment Services via a Smartphone, in % of Adults, July 2021
- Top Used QR Code Payment Service Providers, in % of Adults, July 2021
3.2.2. South Korea
- Mobile Wallet Transaction Value, in KRW trillion, and Year-on-Year Change, in %, 2019 – 2024f
- Top Payment Service Providers, in % of Adults, December 2020
3.2.3. Singapore
- Breakdown of Payment Methods, in % of Consumers 18 – 25 Years Old, September 2020
- Payment Methods Used More Often Amid COVID-19, in % of Consumers, July 2020
3.2. Emerging Markets
3.2.1. China
- Number of Mobile Payment Users, in millions, and Penetration, in % of Mobile Internet Users, December 2016 – December 2018, March 2020 & December 2020
- Third-Party Mobile Payment Transactions, in CNY trillion, Year-on-Year Change, in %, Q1 2019 – Q4 2020
- Breakdown of Third-Party Mobile Payment, by Type, in %, Q1 2019 – Q4 2020e
- Breakdown of Third-Party Mobile Payment GMV by Players, in %, Q2 2020
- QR Code Payment Transaction Value, in CNY trillion, Quarter-on-Quarter Change, in %,Q1 2019 – Q4 2020
3.2.2. Taiwan
- Payment Methods in Physical Stores, in % of Consumers, 2019 & H1 2020
- Breakdown of Payment Methods Preferred to Make a Purchase, in % of Consumers, September 2020
- Mobile Payment Services Used, in % of Respondents, 2019 & 2020
3.2.3. India
- Mobile Wallet Transaction Value, in INR trillion, and Year-on-Year Change, in %, 2019 – 2024f
- Number of Unified Payments Interface Transactions, in billions, January – June 2021
3.2.4. Indonesia
- Breakdown of Payment Methods, in % of Consumers, September 2020
- Payment Methods Used in the Past Year, in % of Respondents, H1 2021
- Share of Proximity Mobile Payment Users, in % of Smartphone Users, 2021e
3.2.5. Thailand
- Breakdown of Payment Methods, in % of Consumers, September 2020
- Payment Methods Used for Online Shopping, in % of Respondents, 2020
3.2.6. Vietnam
- Breakdown of Payment Methods, in % of Consumers, September 2020
- Top Payment Methods Preferred When Shopping Online, in % of Consumers, 2019 & 2020
- Top Payment Methods, in % of Websites/Mobile Apps, 2019 & 2020
- Top Mobile Payment Service Providers, by Hanoi City and Ho Chi Minh City, in % of Adults, September 2020
3.2.7. Malaysia
- Breakdown of Payment Methods, in % of Consumers, September 2020
3.3.8. Philippines
- Breakdown of Payment Methods, in % of Consumers, September 2020
4. Europe
4.1. Regional
- Online & Mobile Payment Post COVID-19, June 2021
- Overview of News About Payment Industry Players, June 2021
- Profile of Real-Time Payments, and Objectives of the European Commission for 2021, June 2021
- Top Payment Methods Preferred, in % of Respondents, September 2020
- Breakdown of Payment Methods Preferred When Shopping Online, in % of Consumers, by 12 Selected Countries, May 2020
- Breakdown of Select Payment Methods Offered by Merchants, by “Growth” and “Non-Growth” Mindsets of Merchants, in %, September 2020
- Consumers Who Shopped Online Via Mobile Phone/Tablet At Least Once, by 12 Selected Countries, in % of Consumers, May 2020
- Payment Behaviors When Shopping In Stores Impacted by COVID-19, in % of Respondents, September 2020
- Proximity Mobile Payment Users, in millions, and Year-on-Year Change, in %, 2019 – 2023f
4.2. Advanced Markets
4.2.1. UK
- Breakdown of Payment Methods Preferred When Shopping Online, in % of Consumers, May 2020
- Top Preferred Payment Methods, in % of Consumers, January 2021
- Breakdown of Credit and BNPL Providers Used, in % of Respondents, October 2020
4.2.2. Germany
- Breakdown of E-Commerce Payment Methods, in % of E-Commerce Sales, 2020e
- Breakdown of Payment Methods Preferred When Shopping Online, in % of Consumers, May 2020
- Breakdown of Preferred Payment Methods, in % of Internet Users, December 2020
- Top Preferred Payment Methods, by Age Groups, in % of Internet Users, December 2020
- Top Preferred Payment Methods, in % of Consumers, January 2021
- Breakdown of Preferred Payment Methods in Cross-Border B2C E-Commerce, incl., PayPal, Visa Credit Cards and MasterCard, in % of Online Retailers, Q1 2020
- Top Payment Methods Offered in Online Stores, in % of Online Retail Store Owners, February 2021
- Breakdown of Payment Methods Offered in Online Stores, by Size of Enterprises, in % of Online Retail Store Owners, February 2021
- Breakdown of Payment Methods That Will be More or Less Popular Among Customers in the Upcoming Years, by Decrease and Increase in Popularity, in % of Online Retail Store Owners, February 2021
- Top Innovative Contactless Payments Emerged During COVID-19, in % of Adults, June 2020
4.2.3. France
- Breakdown of Payment Methods Preferred When Shopping Online, in % of Consumers, May 2020
- Top Preferred Payment Methods, in % of Consumers, January 2021
- Top Innovative Contactless Payments Emerged During COVID-19, in % of Adults, June 2020
4.2.4. Spain
- Breakdown of Payment Methods Preferred When Shopping Online, in % of Consumers, May 2020
- Payment Methods Used For Online Purchases, in % of Respondents, 2019 & 2020
- Top Innovative Contactless Payments Emerged During COVID-19, in % of Adults, June 2020
- Share of Consumers Who Purchased and Did not Purchase Via a Mobile or a Tablet In the Last 12 Months, in %, 2019 & 2020
4.2.5. Italy
- Breakdown of Payment Methods Preferred When Shopping Online, in % of Consumers, May 2020
- Value of Mobile & Wearable Payment Transactions In Stores, in EUR billion, 2019 & 2020
- Value of Mobile Payment Transactions Outside the Store Transactions, in EUR billion, 2016 – 2020
- Top Innovative Contactless Payments Emerged During COVID-19, in % of Adults, June 2020
4.2.6. Netherlands
- Breakdown of Payment Methods Preferred When Shopping Online, in % of Consumers, May 2020
4.2.7. Switzerland
- Breakdown of Preferred Payment Methods, in % of Internet Users, December 2020
- Top Preferred Payment Methods, by Age Groups, in % of Internet Users, December 2020
- Breakdown of Payment Methods Used for Online Purchases, in % of Respondents, December 2020
- Breakdown of Reasons to Choose an Online Payment Methods, in % of Respondents, December 2020
4.2.8. Sweden
- Breakdown of Payment Methods Preferred When Shopping Online, in % of Consumers, May 2020
4.2.9. Belgium
- Breakdown of Payment Methods Preferred When Shopping Online, in % of Consumers, May 2020
- Top Payment Methods When Shopping Online, in %, H1 2020
- Share of Respondents Who Paid Via Smartphone At Least Once, in %, 2020 & 2021
- Share of Respondents Who Purchased Online Via a Mobile Device In the Last 12 Months, in %, 2019 & 2020
- Breakdown of Shopping Channels To Be Considered In the Future When Purchasing New Products/Services Online, in % of Respondents, April 2020
4.2.10. Norway
- Breakdown of Payment Methods Preferred When Shopping Online, in % of Consumers, May 2020
- Breakdown of Preferred Payment Methods, in % of Internet Users, December 2020
- Top Preferred Payment Methods, by Age Groups, in % of Internet Users, December 2020
4.2.10. Denmark
- Breakdown of Preferred Payment Methods, in % of Internet Users, December 2020
- Top Preferred Payment Methods, by Age Groups, in % of Internet Users, December 2020
- Breakdown of Payment Methods Preferred for Online Shopping, in % of Consumers, May 2020
4.2.11. Finland
- Breakdown of Preferred Payment Methods, in % of Internet Users, December 2020
- Breakdown of Payment Methods Preferred for Online Shopping, in % of Consumers, May 2020
4.2.12. Austria
- Breakdown of Preferred Payment Methods, in % of Internet Users, December 2020
- Top Preferred Payment Methods, by Age Groups, in % of Internet Users, December 2020
- Breakdown of Payment Methods Used for Online Purchases, in % of Respondents, December 2020
- Breakdown of Reasons to Choose an Online Payment Method, in % of Respondents, December 2020
4.3. Emerging Markets
4.3.1. Russia
- Online Payment Platforms Used, in % of Respondents, 2019 & 2020
4.3.2. Poland
- Breakdown of Preferred Payment Methods, in % of Internet Users, December 2020
- Top Preferred Payment Methods, by Age Groups, in % of Internet Users, December 2020
- Breakdown of Payment Methods Offered, in % of Online Retailers, October 2020
- Breakdown of Fast Transfer Services Used in E-Commerce, in % of Online Shoppers Paying by Fast Transfer Services, March 2020
- Problems Encountered by Online Shoppers When Making Purchases Via Mobile, incl. Payment-Related, in % of Mobile Shoppers, March 2020
- Devices Used For Online Purchases, in % of Online Shoppers, March 2020
- Digital Payment Methods Owned, in % of Internet Users, November 2020
- Payment Methods Used in M-Commerce, in % of Mobile Shoppers, 2019 & 2020
4.3.3. Czech Republic
- E-Banking Actions Made, by Web Browser & Mobile Application, in % of Respondents, June 2020
- Payment Methods Used To Pay, in % of Respondents, January 2020
4.3.4. Portugal
- Payment Methods Preferred in E-Commerce, in % of Online Shoppers, 2020
- Top Innovative Contactless Payments Emerged During COVID-19, in % of Adults, June 2020
4.3.5. Romania
- Share of Means Through Which Online Purchases Were Made, by Mobile Phone & Desktop, in %, 2019 & 2020
4.3.6. Bulgaria
- Payment Methods Used In the Past Month When Making Payments Online, in % of Consumers, April 2021
- Online Payment Methods Used More Frequently Now Than Before COVID-19, in % of Consumers, April 2021
5. North America
5.1. Regional
- Overview of Online & Mobile Payment Trends, June 2021
- Online & Mobile Payment News About Players, June 2021
- Share of Mobile Transactions, in % of Overall Online Transactions, Q2 2019 & Q2 2020
- Top Drivers of Using Mobile Apps to Interact With Companies, in % of Adult Consumers, 2020 & 2021
5.2. USA
- Number of Proximity Mobile Payment Users, in millions, and Year-on-Year Change, in %, 2020 – 2025f
- Number of Proximity Mobile Payment Users, in millions, and Its Share in Total Smartphone Users Number, in %, 2020 – 2025f
- Number of Proximity Mobile Payment Users, by Payment Platforms, in millions, 2021e
- Proximity Mobile Payment Average Annual Spending Value Per User, in USD, and Year-on-Year Change, in %, 2020 – 2025f
- Value of Mobile P2P Payment Transactions, in USD billion, and Year-on-Year Change, in %, 2020e – 2024f
- Mobile Payment Providers Methods Typically Used, in % of US Adults, April 2021
- Payment Methods Preferred When Shopping Online, in % of US Adults, April 2021
- Payment Methods Preferred When Purchasing In-Store, in % of US Adults, April 2021
- Breakdown of Digital Payment Platforms Primarily Used, in % of Adults, April 2021
- Payment Methods Used When Paying Online in the Past Month, in % of Consumers, March 2021
- Payment Methods Used More Frequently After COVID-19 than Before, in % of Consumers, March 2021
5.3. Canada
- Payment Methods Used When Paying Online in the Past Month, in % of Consumers, March-April 2021
- Payment Methods Used More Frequently After COVID-19 than Before, in % of Consumers, March 2021
- Value of B2C E-Commerce and M-Commerce Sales, by November 2019 & November 2020 Forecasts, in CAD billion, 2020e
- Payment Methods When Making Purchases Online in the Last 12 Months, in % of Adult Online Shoppers, March 2020
- Awareness of Digital Wallets & Mobile Payment Services, by Province, in % of Adult Internet Users, March 2020
6. Latin America
6.1. Regional
- Post-COVID-19 Online Payment Market, August 2021
- Breakdown of Mercado Libre B2C E-Commerce Sales, by Select Countries, by Mobile & Non-Mobile, in % of Total B2C E-Commerce Sales, 2020e
6.2. Brazil
- Number of WhatsApp Users, in millions, Y-o-Y Change, in %, 2019 – 2024f
- Value of Online Purchases Made by a Mobile Phone, in BRL billion, 2019 & 2020
- Top Devices Used to Purchase a Product/Service Online, in % of Brazilian IBA Adults, 2019 & 2020
- Top Payment Methods Used When Shopping Online via a Mobile, in % of Consumers, June 2021
- Top Reasons Not to Use Mobile Payment App, in % of Consumers, June 2021
6.4. Mexico
- Top Payment Methods Preferred For Online Shopping on International Websites, in % of Cross-Border Consumers, 2020
- Top Devices Used to Purchase a Product/Service Online, in % of Mexico IBA Adults, 2019 & 2020
6.5. Argentina
- Breakdown of Top Payment Methods, in % Total Sales Made in a Year, 2019 & 2020
6.6. Colombia
- Top Payment Methods Preferred For Online Shopping on International Websites, in % of Cross-Border Consumers, 2020
6.7. Chile
- Top Payment Methods Preferred For Online Shopping on International Websites, in % of Cross-Border Consumers, 2020
- Top Devices Used to Purchase a Product/Service Online, in % of Chilean IBA Adults, 2019 & 2020
6.8. Dominican Republic
- Number of Mobile Payment Users, in millions, 2015 – 2020 & H1 2021
7. Middle East and Africa
7.1.Regional
- COVID-19 Impact on Online & Mobile Payment, July 2021
- Change in Usage of Shopping Channels When Social Distancing/Social Isolation Measures Are Removed, in % of Respondents, 2020
- Overview of Mobile Money Statistics, incl. Number of Live Services, Registered Accounts, in millions, Active Accounts, in millions, Transaction Volume, in millions, & Y-o-Y Growth, in %, by Sub-Region, 2020
7.2. United Arab Emirates
- Share of Consumers Who Use Cards or Digital Wallets to Pay Online, in %, 2020
7.3. Saudi Arabia
- Top Emerging Payment Methods To Be Used in the Next Year, in % of Adults, March 2021
