Description
Countries Covered:Â Australia, Brazil, Canada, Chile, China, France, Germany, India, Japan, Russia, South Korea, UAE, UK, USA
Pages:Â 106
Publication Date:Â 08/09/2020
Questions Covered in the report:
- What are the top payment methods used by consumers in different countries at the point of sale (POS)?
- What is the share of cash vs. cashless payment methods in retail transactions and how does it vary by country?
- How did the outbreak of COVID-19 influence in-store payment behaviors in the top retail markets such as the USA, China, and Germany?
- How will the pandemic affect the volume of retail payments across different regions worldwide?
- Which POS payment trends are accelerating amid the pandemic?
Key Findings:
The coronavirus pandemic has sped a global movement away from cash
Shoppers prefer payment options other than cash
The payment preference of consumers at the point of sale is being transformed by the COVID-19 pandemic. Over three-quarters of shoppers queried in a wide June 2020 survey cited in the yStats.com report indicated that they have changed the way they pay during the health crisis. The main change is toward the reduced use of cash, as consumers in many markets worldwide report using paper and coin currency less for a variety of reasons, including concern that cash may spread the virus. Among the alternatives to cash, a significant share of consumers in multiple markets report a preference for contactless methods of payment.
Mobile payment is one of the alternatives seeing growth
Besides the traditional credit and debit card payments, one of the alternative payment methods seeing a spurt during the pandemic is proximity mobile payment. The acceptance of mobile wallets by merchants as well as consumers was already growing before COVID-19 hit the world and has been accelerated by the outbreak. The yStats.com report also tells of the growth of other alternative payment methods such as the use of QR codes through a smart device, and the contactless practice of select and pay online, pick up at store.
The trend away from cash is global
Though the move away from cash is a global phenomenon, there are some country and regional variations. China was a leader in mobile payments before the pandemic, and mobile wallets usage continued in the second quarter of 2020 as the country emerged from the peak of the crisis. Japan had been a bastion of cash transactions in-store before COVID, but QR or barcode payments have increased there. In the USA, more than three out of five surveyed consumers reported using cards more during the pandemic to avoid touching cash, according to the yStats.com report. The publication also includes data on the major economies of Europe that have seen the shift away from cash in payment preference during the health crisis.
1. Management Summary
2. Global Development
- COVID-19 Impact on POS Payment, August 2020
- Omnichannel Payment Trends, August 2020
- mPOS Payment Trends, August 2020
- Total Retail Sales Value Loss Worldwide, by Region incl. North America, in USD billion, 2020f Compared to 2019
- Total Retail Sales, in USD billion, and Breakdown by E-Commerce and Non-E-Commerce, in %, 2019 & 2020f
- Changes in Consumer Payment Behaviors Due to COVID-19, in % of Adults, June 2020
- Share of Consumers in Selected Countries Who Decreased Their Use of Cash for In-Person Payments During COVID-19, in %, by Selected Countries, June 2020
- Change in Usage of Selected Omnichannel and Contactless Shopping Methods Compared to Before COVID-19, in % of Consumers, July 2020
- Contactless Payment Limit Increase Due to COVID-19, by Selected Countries, May 2020
- Average Transaction Value of Contactless Payments at POS, in USD, 2019 & 2024f
- Changes in Use of Payment Methods by Consumers in Selected Countries During COVID-19, incl. Share of Consumers Who Increased and Who Decreased Their Use, in %, and Net Change, May 2020
- Proximity Mobile Payment User Penetration, in % of Smartphone Users, by Selected Countries, 2019e
- mPOS Transaction Value, in USD billion, 2019 & 2024f
3. Asia Pacific
3.1 China
- CAGR of Cash and Card Payment Transactions, by Pre-COVID-19 and Post-COVID-19 Forecasts, 2019-2023f
- Share of Consumers Who Plan to Increase Their Usage of Digital Payments In the Next 6-9 Months Due To COVID-19 Outbreak, in %, Compared to Global Average, April 2020
- Number of Mobile Payment Users, in millions, and Penetration, in % of Mobile Internet Users, December 2018, June 2019 & March 2020
- Third-Party Mobile Payment Transactions, in CNY trillion, Year-on-Year Change, in %, Q4 2019 – Q2 2020e
- Third-Party Mobile Payment Transaction Value, in CNY trillion, and Year-on-Year Change, 2018-2022f
- Breakdown of Third-Party Mobile Payment GMV by Players, in %, Q2 2019
3.2 Japan
- Breakdown of Household Consumption by Payment Method, in %, 2019
- Breakdown of Frequency of Usage of Selected Non-Cash Payment Methods, Nov. 2019 & May 2020
- Mobile Payment User Penetration, by QR Code Payment and Contactless Payment, in % of Internet Users, January 2020
- QR Code Mobile Payment Services, by All Used and Most Used, in % of QR Code Mobile Payment Users, January 2020
- Number of PayPay Users, in millions, August 2019, October 2019, December 2019, February 2020 & April 2020
3.3 South Korea
- Breakdown of Payment Transactions by Payment Methods, in %, 2019
- Card Payment Transaction Value, in KRW trillion, 2019 & 2024f
3.4 Australia
- Breakdown of Consumer Payments by Payment Method, in % of The Number of Payments, 2016 & 2019
- Contactless Share of Card Payments at POS, by Contactless Card and Mobile Devices, in %, 2019
- Non-Bank Contactless Mobile Payment Methods Used, in % of Consumers, March 2019 & March 2020
- Change in Usage of Selected Omnichannel and Contactless Shopping Methods Compared to Before COVID-19, in % of Consumers, July 2020
3.5 India
- Change in Usage of Selected Payment Methods Amid the COVID-19 Outbreak, by Usage in the Past Month and in the Next 6 Months, in % of Consumers, April 2020
4. North America
4.1. USA
- Ownership of Payment Accounts and Instruments, in % of Adults, 2018 & 2019
- Number of Consumer Payments for Purchases and P2P Payments per Month, by Payment Method and Type, 2018 & 2019
- Breakdown of Payment Methods Used, by Retailer Type, in % of Consumers, August 2019
- Precautions Taken by Consumers Due To COVID-19 When Shopping In-Store, in % of Consumers, March 2020
- Share of Consumers Who Prefer To Shop for Groceries In Stores With Touchless Self-Checkout Or Robust Self-Checkout Options or Frictionless Micro-Markets, in %, April 2020
- Change in Usage of Selected Omnichannel and Contactless Shopping Methods Compared to Before COVID-19, in % of Consumers, July 2020
- Share of Consumers Feeling Unsafe Due to COVID-19 When Shopping In-Store, by Type of Store, in %, and Measures That Would Make Consumers Feel Safer In-Store, in %, July 2020
- Consumers Who Tried Contactless Payments for the First Time During The Pandemic, in % of All Consumers, and Consumers Who Would Keep Using Contactless Payments After The Pandemic, in % of First-Time Users, March 2020
- Perceived Importance of the Contactless Feature in Credit Cards, in % of Consumers, by Pre COVID-19 and on March 3, 2020
- Number of Proximity Mobile Payment Users, in millions, and Penetration, in % of Smartphone Users, 2018- 2023f
- Number of Proximity Mobile Payment Users of Apple Pay, Google Pay and Samsung Pay, in millions, 2019e
- Top 3 Digital Wallets, by Payment Channel, in % of Digital Wallet Users, August 2019
- Contactless Payment Method Acceptance by Small Businesses, in % of Small Businesses With A Physical Location, 2019 & 2020
- Top Priorities for Retail POS Technology at the Start of 2020, in % of Retailers, July 2020
- The Impact of COVID-19 on POS Technology Investment Plans, in % of Retailers, July 2020
4.2. Canada
- Most Trusted Payment Methods, in % of Internet Users, 2019
- Share of Consumers Using Cash Less Due To COVID-19, in %, April 2020
- Attitudes to Contactless Payments During COVID-19, in % of Consumers, April 2020
- Mobile Payment Apps Used, in % of Smartphone Users, 2019
- 5. Europe
5. Europe
- Breakdown of Preferred Payment Methods, by In-Store and Online, in % of Consumers, September 2019
- Share of Consumers in Selected Countries Who Decreased Their Use of Cash for In-Person Payments During COVID-19, in %, by Selected Countries, June 2020
- POS Card Transaction Value, in EUR billion, 2018, 2019 & 2020f
- Payment Revenues Breakdown, by Segment, in %, 2019e, and Expected Impact of COVID-19, 2020f
5.1. Germany
- Breakdown of Retail Payment Transaction Value at POS by Payment Method, in %, 2019
- Breakdown of Retail Payment Transaction Number at POS by Payment Method, in %, 2019
- Average Transaction Value at POS, by Payment Method, 2019
- Share of Consumers Who Changed Their Payment Behavior at POS During COVID-19, in %, April 2020
- Year-on-Year Change in Number and Value of Cashless Transactions, in %, May 2020
- Card Payments Share of POS Payment Value, in %, 2022f
- Contactless Card Payment Share of Giro Card Payments at POS, in %, Full Year 2019, End of 2019, and During COVID-19 Outbreak/March 2020
- Consumer Attitudes to Using Cash and Contactless Payments During COVID-19 Outbreak, in %, April 2020
5.2. France
- Payment Methods Used to Pay for Purchases, in % of Adults, November 2019
- Innovative Payment Methods Used by Internet Users, in % of Internet Users, January 2020
- Perception of Innovative Payment Methods, in % of Internet Users, January 2020
- Change in Usage of Selected Omnichannel and Contactless Shopping Methods Compared to Before COVID-19, in % of Consumers, July 2020
5.3. UK
- Breakdown of Total Number of Payment Transactions by Payment Method, in %, 2019
- Contactless Payment User Penetration for Payments Under GBP 30, in % of Consumers, by Contactless Cards and Mobile Payment, in %, 2017 & 2019
- Contactless Payment Share of Payment Transactions, by Total Transactions, Debit Card Transactions and Debit Card Transactions, in %, 2019
- Change in Usage of Selected Omnichannel and Contactless Shopping Methods Compared to Before COVID-19, in % of Consumers, July 2020
5.4. Russia
- Changes in Payment Behavior Due to COVID-19, By Consumers Who Used Cash and Cashless Payments Before COVID-19 and Who Used Cash Payments Only, in %, April 2020
- Contactless Mobile Payment User Penetration, in % of Digital Payment Users, July 2019 & June 2020
- Selected Contactless Mobile Payment Apps Used, in % of Digital Payment Users, July 2019 & June 2020
6. Latin America
6.1 Brazil
- Change in Usage of Selected Omnichannel and Contactless Shopping Methods Compared to Before COVID-19, in % of Consumers, July 2020
- Value of Contactless Payments, in BRL million, March 2019 & March 2020
- Proximity Mobile Payment User Penetration, in % of Smartphone Owners, August 2019
6.2 Chile
- Share of Consumers in Selected Countries Who Decreased Their Use of Cash for In-Person Payments During COVID-19, in %, June 2020
- Year-on-Year Change in Card Payment Transactions, by Online and in-Store, in %, Week 1 – Week 4 of March 2020
7. Middle East & Africa
7.1. Middle East & Africa
- Attitudes to Contactless Payments During COVID-19 Outbreak, in % of Consumers, April 2020
7.2 UAE
- Share of Consumers Using Digital Payment Methods When Shopping In-Store During The COVID-19 Outbreak, in %, June 2020
- Share of Consumers Who Made Purchases In-Store Using Mobile Payment, in %, September 2019
- Attitudes to Contactless Payments During COVID-19 Outbreak, in %, April 2020
