Global Digital Payment Forecast 2023-2027
Real-time payments are experiencing a surge in popularity worldwide, with Egypt forecasted to experience one of the highest growth rates between 2022 and 2027: new yStats.com report.
By 2026, the volume of non-cash transactions worldwide is projected to nearly double
The global online payments industry has been significantly influenced by the COVID-19 global health crisis in recent years, resulting in substantial advancements in the market. The rate of adoption of cashless payments has accelerated dramatically and is expected to continue growing post-pandemic, as highlighted by yStats.com. In fact, global cashless transactions are forecasted to grow at a Compound Annual Growth Rate (CAGR) of over 16% from 2023 to 2026, surpassing 2 trillion non-cash transactions. Asia-Pacific is expected to contribute the highest value, followed by Europe and North America by 2026.
Latin America and the Middle East are expected to experience the highest growth in real-time payments
The use of digital payments is continually on the rise worldwide, with more individuals choosing to move away from cash usage. Consequently, real-time payments are gaining popularity globally. In 2022, the Middle East, Africa, and Southeast Asia region recorded the highest volume of real-time payments, just below 100 billion transactions, followed by Asia-Pacific and Latin America, as indicated in the new yStats.com publication. These three regions are projected to remain in the top three, with Asia-Pacific surpassing the Middle East, Africa, and South Asia by 2027. Egypt is expected to be one of the countries with the highest growth in real-time payment transaction volume, displaying a triple-digit Compound Annual Growth Rate (CAGR) between 2022 and 2027, reaching close to one billion transactions. Furthermore, the share of real-time payments in total electronic payments is currently and is expected to remain the highest in Middle East, Africa and South Asia, reaching almost 80% in 2027.
- 1. Key Takeaways
- 2. Management Summary
- 3. Global Developments
- Digital Payments Market Size, in USD trillion, 2023e & 2030f
- Non-Cash Transaction Volume, by Regions, in billions, and Y-o-Y Change of Global Value, in %,
- 2021e-2026f
- B2B Non-Cash Transaction Volume, by Regions, in billions, and Y-o-Y Change of Global Value, in %, 2020-2026f
- Number of Contactless Transactions, in trillions, 2022e & 2027f
- Number of Contactless Mobile Payment Users, in billions, 2022e & 2024f
- Digital Wallet Transaction Value, in USD trillion, 2023e & 2028f
- Share of Shoppers Who Paid For Their Most Recent Physical Purchase With a Mobile Payment, in % of Shoppers, Q1 2022, Q2 2022 & Q3 2022
- Share of Online Shoppers Who Paid For Their Most Recent Online Purchase With a Mobile Wallet, in % of Online Shoppers, Q1 2022, Q2 2022 & Q3 2022
- 4. Asia-Pacific
- 4.1. Regional
- Real-Time Payments Volume, in billions, 2022 & 2027f
- Real-Time Payments Share of Total Electronic Payments, in %, 2022 & 2027f
- Proximity Mobile Payment Users, by Country, in millions, 2022e-2026f
- 4.2. China
- Breakdown of Digital Wallet Use Frequency Among Adults, in %, May 2022
- Number of Real-Time Payment Transactions, in billions, 2022 & 2027f
- 4.3. Japan
- Breakdown of Digital Wallet Use Frequency Among Adults, in %, May 2022
- Cashless Payment Market Size, in USD trillion, 2021-2025f
- Share of Shoppers Who Paid For Their Most Recent Physical Purchase With a Mobile Payment, in % of Shoppers, Q1 2022, Q2 2022 & Q3 2022
- Share of Online Shoppers Who Paid For Their Most Recent Online Purchase With a Mobile Wallet, in % of Online Shoppers, Q1 2022, Q2 2022 & Q3 2022
- 4.4. South Korea
- Number of Real-Time Payment Transactions, in billions, 2022 & 2027f
- 4.5. India
- Mobile Wallet Payments Value, in USD billion, 2023e & 2027f
- Breakdown of Digital Wallet Use Frequency Among Adults, in %, May 2022
- Number of Real-Time Payment Transactions, in billions, 2022 & 2027f
- 4.6. Indonesia
- Digital Banking Transaction Value, in USD billion, January 2022 & January 2023
- Proximity Mobile Payment User Growth, in % of Y-o-Y Change, 2022e-2026f
- 4.7. Singapore
- Share of Shoppers Who Paid For Their Most Recent Physical Purchase With a Mobile Payment, in % of Shoppers, Q1 2022, Q2 2022 & Q3 2022
- Share of Online Shoppers Who Paid For Their Most Recent Online Purchase With a Mobile Wallet, in % of Online Shoppers, Q1 2022, Q2 2022 & Q3 2022
- Proximity Mobile Payment User Growth, in % of Y-o-Y Change, 2022e-2026f
- 4.8. Philippines
- Proximity Mobile Payment User Growth, in % of Y-o-Y Change, 2022e-2026f
- 5. Europe
- 5.1. Regional
- Real-Time Payments Volume, in billions, 2022 & 2027f
- Real-Time Payments Share of Total Electronic Payments, in %, 2022 & 2027f
- Online Share of Non-Recurring Payment Transactions, in %, 2022
- 5.2. UK
- Number of Proximity Mobile Payment Users, in millions, and Share of Total Smartphone Users, in %, 2020-2026f
- Share of Shoppers Who Paid For Their Most Recent Physical Purchase With a Mobile Payment, in % of Shoppers, Q1 2022, Q2 2022 & Q3 2022
- Share of Online Shoppers Who Paid For Their Most Recent Online Purchase With a Mobile Wallet, in % of Online Shoppers, Q1 2022, Q2 2022 & Q3 2022
- 5.3. Germany
- Breakdown of B2C E-Commerce Sales by Payment Methods, in %, 2022
- Share of Shoppers Who Paid For Their Most Recent Physical Purchase With a Mobile Payment, in % of Shoppers, Q1 2022, Q2 2022 & Q3 2022
- Share of Online Shoppers Who Paid For Their Most Recent Online Purchase With a Mobile Wallet, in % of Online Shoppers, Q1 2022, Q2 2022 & Q3 2022
- 5.4. France
- Share of Shoppers Who Paid For Their Most Recent Physical Purchase With a Mobile Payment, in % of Shoppers, Q1 2022, Q2 2022 & Q3 2022
- Share of Online Shoppers Who Paid For Their Most Recent Online Purchase With a Mobile Wallet, in % of Online Shoppers, Q1 2022, Q2 2022 & Q3 2022
- 5.5. Italy
- Contactless Payments Value, in EUR billion, 2020-2022
- Share of Shoppers Who Paid For Their Most Recent Physical Purchase With a Mobile Payment, in % of Shoppers, Q1 2022, Q2 2022 & Q3 2022
- Share of Online Shoppers Who Paid For Their Most Recent Online Purchase With a Mobile Wallet, in % of Online Shoppers, Q1 2022, Q2 2022 & Q3 2022
- 5.6. Russia
- Share of Population That Made a Digital Payment, in %, 2022
- 6. North America
- 6.1. Regional
- Real-Time Payments Volume, in billions, 2022 & 2027f
- Real-Time Payments Share of Total Electronic Payments, in %, 2022 & 2027f
- 6.2. USA
- Number of Proximity Mobile Payment Users, in millions, and Share of Total Smartphone Users, in %, 2021-2026f
- Average Annual Proximity Mobile Payment Spending Value Per User, in USD, 2021-2026f
- Share of Shoppers Who Paid For Their Most Recent Physical Purchase With a Mobile Payment, in % of Shoppers, Q1 2022, Q2 2022 & Q3 2022
- Share of Online Shoppers Who Paid For Their Most Recent Online Purchase With a Mobile Wallet, in % of Online Shoppers, Q1 2022, Q2 2022 & Q3 2022
- 6.3. Canada
- Number of Real-Time Payment Transactions, in billions, 2022 & 2027f
- Average Number of Monthly Real-Time Payment Transactions Per Person, in Total Value, 2022 & 2027f
- 7. Latin America
- 7.1. Regional
- Real-Time Payments Volume, in billions, 2022 & 2027f
- Real-Time Payments Share of Total Electronic Payments, in %, 2022 & 2027f
- 7.2. Brazil
- Breakdown of Digital Wallet Use Frequency Among Adults, in %, May 2022
- Number of Real-Time Payment Transactions, in billions, 2022 & 2027f
- Share of Shoppers Who Paid For Their Most Recent Physical Purchase With a Mobile Payment, in % of Shoppers, Q1 2022, Q2 2022 & Q3 2022
- Share of Online Shoppers Who Paid for Their Most Recent Online Purchase With a Mobile Wallet, in % of Online Shoppers, Q1 2022, Q2 2022 & Q3 2022
- 7.3. Mexico
- Number of Real-Time Payment Transactions, in billions, 2022 & 2027f
- 7.4. Argentina
- Breakdown of Digital Wallet Use Frequency Among Adults, in %, May 2022
- Number of Real-Time Payment Transactions, in millions, 2022 & 2027f
- 7.5. Colombia
- Number of Real-Time Payment Transactions, in millions, 2022 & 2027f
- 7.6. Chile
- Number of Real-Time Payment Transactions, in billions, 2022 & 2027f
- 8. Middle East & Africa
- 8.1. Regional
- Real-Time Payments Volume, in billions, 2022 & 2027f
- Real-Time Payments Share of Total Electronic Payments, in %, 2022 & 2027f
- 8.2. UAE
- Number of Real-Time Payment Transactions, in millions, 2022 & 2027f
- 8.3. Saudi Arabia
- Number of Real-Time Payment Transactions, in billions, 2022 & 2027f
- 8.4. Egypt
- Number of Real-Time Payment Transactions, in millions, 2022 & 2027f
- 8.5. Nigeria
- Number of Real-Time Payment Transactions, in billions, 2022 & 2027f
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