Global Digital Payment Forecasts 2022-2025
By 2025, the share of the Chinese population using proximity mobile payments is projected reach almost 70%: new yStats.com report.
The latest publication from Germany-based online research firm yStats.com, “Global Digital Payment Forecasts 2022-2025” provides insights into the future trends of the global digital payment market. Among other findings, the publication reveals that by 2025, the value of online payments in Europe is forecasted to increase from 2021 to exceed a one trillion-euro mark by 2025.
By 2025 the volume of non-cash transactions in the global market is forecasted to surpass the one and a half trillion mark
The global online payments industry was profoundly shaped by the COVID-19 global health crisis in 2020, which has led to a major advancement in the market since then. The rate of adoption of cashless payments has accelerated dramatically and is projected to grow even more. In fact, global cashless transactions are projected to grow at an annualized rate of about 18% from 2020 to 2025 and exceed the one and a half trillion mark in volume. The region adding the most value is expected to be Asia-Pacific. Asia-Pacific will be followed by Europe in 2025, and then North America.
Asia-Pacific is forecast to continue to be the world's leading regional market for mobile wallet payments
The COVID-19 pandemic has accelerated the use of mobile payments worldwide since 2020. This is attributed to the accelerated security and cross-channel payment features of mobile contactless payments. In 2021, China is expected to be the leading country in the share of contactless mobile payment users, accounting for more than 4 out of every 5 smartphone users, distantly followed by South Korea and the United States. In addition, mobile wallets have become the primary way to make payments in a number of regions, as authorities attempt to reduce the use of cash. In Asia-Pacific, for example, the number of mobile wallets in use is projected to have more than doubled over the next few years from 2021 to 2025. Latin America is projected to follow the APAC region in the number of mobile wallets in use, reaching more than 600 million by 2025.
- 1. Management Summary
- 2. Global Developments
- • Non-Cash Transaction Volume, by Regions, in billions, and Y-o-Y Change of Global, in %,
- • 2020 - 2025f
- • B2B Non-Cash Transaction Volume, by Regions, in billions, and Y-o-Y Change of Global, in %,
- • 2019 - 2025f
- • Number of Mobile Contactless Transactions, in billions, 2021e & 2023f
- • Number of Cashless Transactions, in billions, CAGR, in %, 2020, 2025f & 2030f
- • Proximity Mobile Payment Users in Select Countries, in % of Smartphone Users, 2021e
- 3. Asia-Pacific
- 3.1. Regional
- • Number of Mobile Wallet Users, in billions, 2020 & 2025f
- • Mobile Wallet Transaction Value, in USD trillion, and Volume, in billions, 2020 & 2025f
- • Number of Mobile Wallets in Use, in millions, and Year-on-Year Change, in %, 2020 - 2025f
- • Breakdown of Payment Channels, incl. Cash, Cards, A2A and E-Wallet, in % of Total Gross Transaction Value, 2019 - 2021e & 2025f
- • Number of Mobile Wallets in Use, in millions, and Year-on-Year Change, in %, 2020 - 2025f
- 3.2. China
- • Number of Proximity Mobile Payment Users, in millions, and Year-on-Year Change, in %, 2019 - 2025f
- • Number of Proximity Mobile Payment Users, in millions, and Share, in % of Population, 2019 - 2025f
- • Third-Party Payment Value, by Mobile & Online, in CNY trillion, 2018 - 2025f
- • Mobile Wallet Transaction Value, in USD trillion, and Volume, in billions, 2020 & 2025f
- • Mobile Wallet User Penetration, in % of Population, 2020 & 2025f
- 3.3. Japan
- • Smart Payment Transaction Value, by Credit/Debit/Prepaid Card & Electronic Money, in JPY trillion, 2019 - 2026f
- • QR Code Payment Value, in JPY billion, Year-on-Year Change, in %, FY 2019 - FY 2024f
- • Top Payment Methods, in % of Adults, September 2021
- 3.4. South Korea
- • Mobile Wallet Transaction Value, in USD billion, and Volume, in billions, 2020 & 2025f
- • Mobile Wallet User Penetration, in % of Population, 2020 & 2025f
- 3.5. India
- • Digital Transaction Value, in INR trillion, and Volume, in billions, and Y-o-Y Change, in %, 2018 - 2025f
- • Mobile Payments Value, in INR trillion, and CAGR, in%, by Pre- & Post-COVID-19 Scenario, FY 2015 & FY 2020 & FY 2025f
- • Mobile Wallet Transaction Value, in INR trillion, and Year-on-Year Change, in %, 2016 - 2024f
- • Mobile Wallet Transaction Value, in USD billion, and Volume, in billions, 2020 & 2025f
- • Mobile Wallet User Penetration, in % of Population, 2020 & 2025f
- 3.6. Indonesia
- • Value of Electronic Money Transactions, in USD billion, and Year-on-Year Change, in %, 2016 - 2021e
- • Mobile Wallet Transaction Value, in USD billion, and Volume, in billions, 2020 & 2025f
- • Mobile Wallet User Penetration, in % of Population, 2020 & 2025f
- 3.7. Singapore
- • Mobile Wallet Transaction Value, in USD billion, and Volume, in millions, 2020 & 2025f
- • Mobile Wallet User Penetration, in % of Population, 2020 & 2025f
- 3.8. Philippines
- • Card Payments Value, in PHP billion, and CAGR, in %, 2020 & 2024f
- • Mobile Wallet Transaction Value, in USD billion, and Volume, in millions, 2020 & 2025f
- • Mobile Wallet User Penetration, in % of Population, 2020 & 2025f
- 4. Europe
- 4.1. Regional
- • Online Payments Value, in USD trillion, 2020, 2021e & 2025f
- • Number of Mobile Wallets in Use, by Central & East Europe and West Europe, in millions, 2020 - 2025f
- 4.2. UK
- • Number of Proximity Mobile Payment Users, in millions, and Year-on-Year Change, in %, 2019 - 2025f
- • Number of Proximity Mobile Payment Users, in millions, and Year-on-Year Change, in %, 2019 - 2025f
- 4.3. Germany
- • Breakdown of E-Commerce Payment Methods, in % of E-Commerce Sales, 2020e
- 4.4. France
- • Number of E-Money Payments, and Year-on-Year Change, in %, in millions, 2016 - 2020
- 4.5. Italy
- • Contactless Transaction Value, in EUR billion, H1 2019, H1 2020 & H1 2021
- 4.6. Russia
- • Online Payment Transaction Value, in RUB billion, 2019 & 2020
- 5. North America
- 5.1. Regional
- • Number of Mobile Wallets in Use, in millions, and Y-o-Y Change, in %, 2020 - 2025f
- 5.2. USA
- • Number of Proximity Mobile Payment Users, in millions, Year-on-Year Change, in %, and Share, in % of Smartphone Users, 2020 - 2025f
- • Proximity Mobile Payment Average Annual Spending Value Per User, in USD, and Y-o-Y Change, in %, 2020 - 2025f
- 5.3. Canada
- • 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
- 6. Latin America
- 6.1. Regional
- • Number of Mobile Wallets in Use, in millions, and Year-on-Year Change, in %, 2020 - 2025f
- • Breakdown of Payment Methods, in %, 2020 & 2023f
- 6.2. Brazil
- • Mobile Wallet Transaction Value, in USD billion, and Volume, in billions, 2020 & 2025f
- • Mobile Wallet User Penetration, in % of Population, 2020 & 2025f
- • Breakdown of Payment Methods, in %, 2020 & 2023f
- • Number of Real-Time Payment Transactions, in billions, 2020 & 2025f
- 6.3. Mexico
- • Mobile Wallet Transaction Value, in USD billion, and Volume, in billions, 2020 & 2025f
- • Mobile Wallet User Penetration, in % of Population, 2020 & 2025f
- • Number of Real-Time Payment Transactions, in billions, 2020 & 2025f
- 6.4. Argentina
- • Number of Real-Time Payment Transactions, in millions, 2020 & 2025f
- 6.5. Colombia
- • Number of Real-Time Payment Transactions, in millions, 2020 & 2025f
- 6.6. Chile
- • Number of Real-Time Payment Transactions, in millions, 2020 & 2025f
- 7. Middle East & Africa
- 7.1. Regional
- • Number of Mobile Wallets in Use, in millions, and Year-on-Year Change, in %, 2020 - 2025f
- 7.2. UAE
- • Mobile Wallet Transaction Value, in USD billion, and Volume, in millions, 2020 & 2025f
- • Mobile Wallet User Penetration, in % of Population, 2020 & 2025f
- 7.3. Saudi Arabia
- • Mobile Wallet Transaction Value, in USD billion, and Volume, in billions, 2020 & 2025f
- • Mobile Wallet User Penetration, in % of Population, 2020 & 2025f
- 7.4. Egypt
- • Mobile Wallet Transaction Value, in USD billion, and Volume, in billions, 2020 & 2025f
- • Mobile Wallet User Penetration, in % of Population, 2020 & 2025f
- 7.5. Nigeria
- • Mobile Wallet Transaction Value, in USD billion, and Volume, in billions, 2020 & 2025f
- • Mobile Wallet User Penetration, in % of Population, 2020 & 2025f
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