Global Online Payment Methods Report 2024: Virtual Card Transactions and BNPL Sales are Expected to Rise Significantly by 2027, Showcasing the Shift Towards Alternative Payment Methods
Dublin, Feb. 15, 2024 (GLOBE NEWSWIRE) — 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
- 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/cwp0gn
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