Dublin, Nov. 09, 2022 (GLOBE NEWSWIRE) -- The "North America Mobile Payment Methods 2022" report has been added to ResearchAndMarkets.com's offering.
This report provides a summary of the trends and latest developments in the mobile payment market as well as forecasts future developments. The publication also reveals that the number of mobile wallets is forecasted to reach a number in the millions by 2025.
Digital wallets are expanding is usage and adoption across the North American region
Witnessing a double-digit CAGR between 2022 and 2026, the value of digital wallet transactions globally is forecasted to reach trillions of Euros by 2026. Among the most used digital wallets in the U.S. were PayPal, followed by Apple pay, and Venmo. Moreover, close to one-third of Americans used these digital wallets to pay for almost all of their online purchases.
Furthermore, in 2021, over half of online merchants offered mobile payment and more than two-thirds of allowed digital wallet payment at checkout. In terms of age groups, digital wallets and mobile payments had the highest frequency of usage among Gen Z consumers as compared to other age groups in February 2022.
More than half of online merchants in Canada also accepted digital wallets. Additionally, more than one-third adult internet users in Canada were very or somewhat comfortable using mobile or digital wallets as means of payment.
Competition intensifies among mobile wallet players, with PayPal and Apple pay remaining at the top
As consumers in North America lean more towards using mobile payments especially mobile wallets, the competition among already existing players strengthens.
The U.S. market also witnesses an increasing trend towards using proximity mobile payments, with Apple pay being the most dominant player by 2026.
The number of proximity mobile payment users mainly using Apple pay are forecasted to experience a surge in growth between 2019 and 2026, with the numbers reaching certain millions by 2026, this is followed by Starbucks mobile payment, and Google Pay.
Key Questions Answered
- Which payment methods were most offered by online merchants in North America?
- How many mobile wallets are forecasted to be used in North America by 2025?
- What are the most used digital wallets types in the U.S.?
- What type of payment methods were most offered by online merchants at checkout in the U.S.?
- How many P2P mobile payment users are forecasted in Canada by 2025?
Key Topics Covered:
1. Management Summary
2. Global Developments
- Online & Mobile Payment Trends, July 2022
- Value of Digital Wallet Transactions, in USD trillion, 2022f & 2026f
- Mobile Payment Market Size, in USD trillion, 2021 & 2028f
- Number of B2C E-Commerce Transactions Paid by OEM Mobile Payment Apps, in billions, 2022f & 2026f
- Most Used Payment Methods When Shopping Online During The Pandemic, in % of Online Shoppers, by Selected Countries, April 2021
- Value of Biometrically Authenticated Remote Mobile Payments, in USD billion, 2022e & 2027f
- Volume of Biometrically Authenticated Remote Mobile Payments, in billions, 2022e & 2027f
- Number of Mobile Contactless Transactions, in billions, 2021e & 2023f
- Proximity Mobile Payment Users Worldwide, in millions, and Year-on-Year Change, in %, 2020-2025f
- Proximity Mobile Payment User Penetration, in % of Smartphone Users, 2020-2025f
- Number of Mobile Wallet Users, by Region, in millions, 2020 & 2025f
- Proximity Mobile Payment Users in Select Countries, in % of Smartphone Users, 2021e
- Payment Methods Accepted by Online Merchants, by Already Accepted and Planned, in % of Online Merchants, February 2022
- Breakdown of Digital Banking Fraudulent Transactions, by Channel, incl. Mobile App, in %, Q3 2019 - Q2 2021
3. North America
3.1. Regional
- Overview of Online & Mobile Payment Trends, July 2022
- Number of Mobile Wallets in Use, in millions, and Y-o-Y Change, in %, 2020-2025f
3.2. USA
- Mobile P2P Payment Users, in millions, and in % Year-on-Year Change, 2020-2026f
- Mobile P2P Payment Users, in millions, and Penetration, in % of Smartphone Users, 2020-2026f
- Mobile P2P Payment Transaction Value, in USD billion, and Year-on-Year Change, in %, 2020-2025f
- Proximity Mobile Payments Users, by Platform, in millions, 2019-2026f
- Proximity Mobile Payment Spending, per User, in USD, and Y-o-Y Change, in %, 2019-2026f
- Proximity Mobile Payment Transaction Value, in USD billion, and Year-on-Year Change, in %, 2019 - 2026f
- Breakdown of Digital Wallets Used, in % of Digital Wallet Users, February 2022
- Use of Credit/Debit Card or Bank Account vs. Digital Wallet as Online Payment Methods, in % of Online Shoppers, January - February 2022
- Payment Methods Offered in Online Checkout, in % of Online Merchants, October 2021
- Breakdown of Payment Methods Used Most Often, by Age Group, in % of Adults, February 2022
- Payment Methods Offered in Online Checkout, in % of Online Merchants, October 2021
- Payment Methods Used on a Weekly Basis, in % of Consumers, April 2020 & April 2021
3.3. Canada
- Attitude Towards Use of Digital Wallets & Mobile Payment Services, in % of Adult Internet Users, March 2021
- 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
Companies Mentione
- Apple Pay
- Google Pay
- PayPal
- Samsung Pay
- Starbucks
- Venmo
For more information about this report visit https://www.researchandmarkets.com/r/l7ikex
