North America POS Payment Methods 2020 and COVID-19's Impact

North America POS Payment Methods 2020 and COVID-19's Impact

COVID-19 increased the use of digital payment methods in North America

Digital payment trends for in-store shopping in North America have accelerated due to the COVID-19 Pandemic

Since the COVID-19 outbreak, North American shoppers have altered their payment preferences. Multiple sources cited in the publication indicate that a large share of consumers in this region have changed their POS payment practice because of the pandemic. One of the changes is the avoidance of cash, which is considered by some as a vector of the virus. Contactless payments are among the preferred alternative methods, also motivated by the pandemic. Furthermore, a significant share of consumers in the US preferred touchless self-checkout payment when doing groceries.

Consumers in North America have increased the use of contactless mobile payments during the COVID-19 pandemic

The use of contactless payments is increasing rapidly in North America, as the pandemic increased the acceptance of this practice. The use of contactless mobile payments in North America is one of the top payment trends detailed in the new publication. This report also reveals the notable percentage of consumers in Canada that used a contactless card or mobile payment during the health crisis.

Payments made via cash are decreasing in North America due to the COVID-19 pandemic

While there was a general trend of using cashless payments in North America before the coronavirus crisis, this event further accelerated this practice. The report provides details on the shift from cash to other alternatives in North America during the COVID-19 crisis. The report also indicates the significant percentage decline in the use of cash in North America, during the on-going COVID-19 outbreak.

1. Management Summary
2. Global Developments
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. North America
3.1. 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
3.2. 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

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook
Cookie Settings