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Global Digital Payment Forecasts 2019-2022

Global Digital Payment Forecasts 2019-2022

Rapid growth expected for global digital payments by 2022

Digital payments growth led by Asia-Pacific
With a double-digit growth rate, the global digital payments market is expected to reach new heights by 2022. Asia-Pacific is the world’s leader when it comes to online and mobile payment volume, with North America ranking second. According to a forecast cited by yStats.com, remote E-Commerce will remain the largest digital payment segment through 2022, although in-store mobile payments are also projected to see major growth, driven by the proliferation of mobile wallets. Already this year, more than one in three smartphone owners worldwide are expected to use their devices to make payments at POS.

E-Wallets to account for the highest share of online payments in 2022
E-Wallets will reign in the E-Commerce payment space, overtaking credit cards, according to a prediction cited in the yStats.com report. In 2022, close to half of all E-Commerce transactions could be paid by digital wallets like Alipay, PayPal and WeChat Pay. At the same time, as an increasing share of purchases is made remotely, online payment fraud losses are climbing. As a result, mobile biometrics will gain popularity to give an extra protection to digital purchases.


1. Management Summary
2. Global Developments
Digital Payment Transaction Value, by Digital Commerce, Mobile POS Payments and Total, in USD billion, 2019f & 2023f, and CAGR, in %, 2019f-2023f
Breakdown of E-Commerce Transaction Value by Payment Methods, in %, 2018e-2022f
Breakdown of Card Payment Transactions by E-Commerce and POS Payments, in %, 2017 & 2023f
Online Payment Fraud Losses, in USD billion, 2018e & 2023f
Number of Remote Mobile Biometric Transactions, in billions, and Their Share of Total In-Store and Remote Transactions Authenticated via Mobile Biometrics, in %, 2018 & 2023f
Proximity Mobile Payment User Penetration, by Region, in % of Smartphone Users, 2017-2022f
Number of Mobile Wallet Users, in billions, 2017 & 2019f
Number of Mobile Wallet Users, by China, Rest of Asia and Rest of the World, in millions, 2019f
Breakdown of Mobile Wallet Spending by China and the Rest of the World, in % and in USD, 2019f
Number of Contactless Payment Users of Apple Pay, Samsung Pay, Google Pay and Other OEM Pay, in millions, 2018e & 2020f
Retail Spending at Frictionless Payment Stores, in USD million, 2018e & 2023f
Retail Payments Value, in USD trillion, 2018, 2020f & 2023f
Share of In-Store Payments Made by Cash, in %, 2018 & 2023f
Number of Non-Cash Payment Transactions, in billions, and CAGR, in %, by Region, 2016 - 2021f
IoT Payments, in USD billion, 2018e & 2023f
IoT Payments, in USD billion, by Connected Car and Connected Home Device Payments, 2021f
Payments Revenue, in USD trillion, by Region, 2017 & 2022f
Breakdown of Payments Revenue Growth by Region, in %, 2017-2022f
Breakdown of Payments Revenue Growth by Revenue Type, in %, 2017-2022f
Transaction-Based Revenue Share of Total Global Payments Revenue, in %, 2017 & 2022f
3. Asia-Pacific
3.1. Regional
Digital Payment Transaction Value, by Digital Commerce, Mobile POS Payments and Total, in USD billion, 2019f & 2023f, and CAGR, in %, 2019f-2023f
Breakdown of E-Commerce Transaction Value by Payment Methods, in %, 2018e-2022f
Proximity Mobile Payment User Penetration, by Selected Countries and Total, in % of Smartphone Users, 2017-2022f
Cashless Transactions Share of Total Payment Transactions, in %, by Selected Countries, 2022f
3.2. China
Third-Party Payment Transaction Value, in CNY trillion, 2016 - 2022f
Third-Party Mobile Payment Transaction Value, in CNY trillion, 2015 - 2020f
Mobile Payment Transaction Value, in USD trillion, 2017 & 2023f
Number of Mobile Payment Users, in millions, 2017 & 2023f
Proximity Mobile Payment Users, in millions, and Penetration, in % of Smartphone Users, 2017 - 2022f
3.3. Japan
Online Payment Services Market Revenues, in JPY billion, and Year-on-Year Change, in %, FY 2015 – FY 2022f
Proximity Mobile Payment Transaction Value, in JPY trillion, and Year-on-Year Change, in %, FY 2017 – 2023f
Proximity Mobile Payment User Penetration, in % of Smartphone Users, 2018e & 2022f
Mobile Payment Users, by E-Money and QR-based Smartphone Payments, in millions, FY 2016 - FY 2021f
3.4. South Korea
Proximity Mobile Payment User Penetration, in % of Smartphone Users, 2017-2022f
3.5. India
Proximity Mobile Payment Users, in millions, and Penetration, in % of Smartphone Users, 2017 - 2022f
Digital Payments, in USD billion, FY 2018e & FY 2023
Mobile Payments, in USD billion, FY 2018e & FY 2023f
Mobile Wallets Transaction Value, in INR trillion, and Year-on-Year Growth Rate, in %, 2016 - 2021f
3.6. Indonesia
Mobile Payment Transaction Value, in IDR trillion, 2016 – 2020f
3.7. Singapore
Mobile Payment Transaction Value, in USD billion, 2016 & 2021f
3.8. Philippines
Digital Wallet Transaction Value, in USD million, 2018e & 2021f
4. Europe
4.1. Regional
Digital Payment Transaction Value, by Digital Commerce, Mobile POS Payments and Total, in USD billion, 2019f & 2023f, and CAGR, in %, 2019f-2023f
Breakdown of E-Commerce Transaction Value by Payment Methods, in %, 2018e-2022f
Breakdown of E-Commerce Spending in the EU by Payment Methods Considering PSD2 and Instant Payment Introduction, in %, 2012, 2017e, 2020f, 2022f, 2027f
Mobile Payment Transaction Value in the EU-7, in EUR billion, and Year-on-Year Change, in %, 2016-2022f
Breakdown of Mobile Payment Transaction Value in the EU-7 by Payment Types, in %, 2022f
4.2. UK
Number of Payment Transactions, in millions, by Payment Instrument, 2017 & 2027f
Number of Proximity Mobile Payment Users, in millions, 2017-2019f
4.3. Germany
Proximity Mobile Payment Users Number, in millions, and Penetration, in % of Population, 2017 - 2022f
Breakdown of Importance of Payment Topics in Merchants’ Payment Strategy Until 2020, in % of E-Commerce Merchants, 2018
4.4. France
Proximity Mobile Payment Users, in millions, and Penetration, in % of Smartphone Users, 2018e - 2021f
4.5. Italy
Payment Transaction Value of New Digital Payment Methods, in EUR billion, 2017, 2018 & 2021f
Contactless Card Payments and Mobile Proximity Payments at POS, in EUR billion, 2018 & 2021f
4.6. Sweden
Breakdown of Payment Transactions Value by Cash and Non-Cash Payments, in %, 2020f
Breakdown of Merchants’ Expectations of The Time When They Will Stop Accepting Cash, in %, April 2017
4.7. Russia
Online Payment Transaction Value, in RUB billion, 2015-2019f
5. North America
5.1. Regional
Digital Payment Transaction Value, by Digital Commerce, Mobile POS Payments and Total, in USD billion, 2019f & 2023f, and CAGR, in %, 2019f-2023f
Breakdown of E-Commerce Transaction Value by Payment Methods, in %, 2018e-2022f
Proximity Mobile Payment User Penetration, in % of Smartphone Users, in %, 2017 – 2022f
5.2. USA
Digital Commerce Payments and Proximity Mobile Payments, in USD billion, 2022f, and CAGR, in %, 2018-2022f
Number of Proximity Mobile Payment Users, in millions, and Penetration, in % of Smartphone Users, 2018- 2022f
Number of Proximity Mobile Payment Users, by Selected Platforms, in millions, 2017 - 2022f
Mobile Payment User Penetration, by Selected Platforms, in % of Proximity Payment Users, 2017 - 2022f
P2P Mobile Payment Transaction Value, in USD billion, and Year-on-Year Change, in %, 2017 - 2022f
Mobile P2P Payment Users, by Selected Platforms, in millions, 2017 - 2022f
Contactless Card Penetration, in % of Active Cards, 2018-2022f
Voice Payment Users, in millions, and Penetration, in % of Adults, 2017e-2022f
6. Latin America
6.1. Regional
Digital Payment Transaction Value, by Digital Commerce, Mobile POS Payments and Total, in USD billion, 2019f & 2023f, and CAGR, in %, 2019f-2023f
Breakdown of E-Commerce Transaction Value by Payment Methods, in %, 2018e-2022f
6.2. Brazil
Proximity Mobile Payment User Penetration, in % of Smartphone Users, 2017-2022f
6.3. Mexico
Proximity Mobile Payment User Penetration, in % of Smartphone Users, 2017-2022f
6.4. Argentina
Proximity Mobile Payment User Penetration, in % of Smartphone Users, 2017-2022f
7. Middle East & Africa
7.1. Regional
Proximity Mobile Payment User Penetration, in % of Smartphone Users, 2017-2022f
Digital Payment Transaction Value, by Digital Commerce, Mobile POS Payments and Total, in USD billion, 2019f & 2023f, and CAGR, in %, 2019f-2023f
Digital Payment Transaction Value, by Digital Commerce, Mobile POS Payments and Total, in USD billion, 2019f & 2023f, and CAGR, in %, 2019f-2023f
7.2. UAE
Mobile Wallet Market Size, in USD million, 2016 & 2022f

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