Global POS Payment Methods 2023

Best Price Guarantee	Length	Publisher	Published Date	SKU
from $4,850	135 Pages	yStats.com	August, 2023	YST18117388

Best Price Guarantee
Price	from $4,850
Length	135 Pages
Publisher	yStats.com
Published Date	August, 2023
SKU	YST18117388

Global POS Payment Methods 2023

With shoppers leaning towards digital payments at POS, the transaction value of the proximity payment in the U.S. is set to go beyond EUR 900 billion by 2026: new yStats.com report

The declining use of cash has led to the emergence of innovative POS payment methods such as tap to pay, scan & go, and self-checkout, among others

Globally, consumers are reducing their dependence on cash and leaning towards digital payment methods, including contactless credit and debit cards, tap to pay, and QR code payments. Merchants are also shifting towards advanced models of smart and soft POS systems. According to a new report by yStats.com, the volume of soft POS transactions is predicted to surpass 400 billion by 2027. A majority of buyers worldwide have shown a preference for advanced in-store shopping technologies like scan and go and self-checkout, enabling them to pay in a contactless manner. Nearly half of the surveyed respondents in 2022 found the ability to use self-checkout and scan and go technology to be appealing attributes of in-store shopping. As consumer habits evolve, more than 50% expressed a desire to use less cash, while over one-third favored contactless payment methods and digital wallets at the point of sale (POS).

The POS payment landscape is expected to be dominated by mobile payments and contactless card payments, especially in the U.S., Germany, and China

In April 2023, the share of U.S. shoppers paying with a smartphone at a retail store exceeded 50%. In the UK, more than half of the surveyed consumers claimed to use the retailer's mobile app to pay via Apple Pay and Google Pay at the POS as of February 2023. In Germany, there was a growing use of contactless physical cards at the POS, followed by contact-based physical cards as of 2022. In China, over 75% of mobile phone users used mobile payment methods at the POS, with bank cards and biometric payment technologies also dominating the POS payment landscape as of 2022.

With the changing POS payment landscape, several shoppers have turned to using loyalty points for payment

As competition intensifies, retailers are exploring various possibilities to retain consumer loyalty, including rewards, loyalty programs, and discounts. Loyalty programs benefit consumers by providing protection against inflation and reducing the need for cash during times of unstable prices. For sellers, loyalty programs help track purchase history and buying preferences, enabling them to offer better-suited customized offers to customers. The use of loyalty points at the POS has shown varied growth patterns across regions, with nearly one-third of surveyed respondents in the U.S. using points for payment as of August 2022, according to the new yStats.com report.

1. Key Takeaways: Key Takeaways of POS Payment Method Market and Trends, June 2023 (1 of 2); Key Takeaways of POS Payment Method Market and Trends, June 2023 (2 of 2)
1. Management Summary
2. Global: POS Methods Overview and Trends, June 2023 (1 of 4); POS Methods Overview and Trends, June 2023 (2 of 4); POS Methods Overview and Trends, June 2023 (3 of 4); POS Methods Overview and Trends, June 2023 (4 of 4); Overview of Sustainability Initiatives by Payment Providers, June 2023 (1 of 2); Overview of Sustainability Initiatives by Payment Providers, June 2023 (2 of 2); Overview of Enhanced Security Measures at POS, June 2023 (1 of 2); Overview of Enhanced Security Measures at POS, June 2023 (2 of 2); Share of Retail Sales Growth vs Retail E-Commerce Sales Growth, in % Change, 2022-2026f; In-Store Shopping Attributes That Respondents Find Appealing, in % of Respondents, 2022; Top Changes in Payment Habits, in % of Respondents, April 2022; Preferred Payment Methods For In-Person Transactions, in % of Respondents, April 2022; Share of Shoppers Using Self-Checkouts During In-Store Purchases, in % of Respondents, July 2022; Share of Shoppers Using Mobile Cashless Payments During In-Store Purchases, in % of Respondents, July 2022; Top Technology That Decision Makers Are Likely to Implement In-Store Shopping, in % of Decision Makers, 2023e & 2027f; Top In-Store Activities For Which Consumers Use Retailer’s Mobile App, in % of Respondents, 2022 vs 2023; Total Volume of Soft POS, in billions, 2022 & 2027f; Top In-Store Shopping Features Consumers Expect to See, in % of Retail Executives, June 2022; Share of Consumers Using Mobile Wallets For Payments, in %, August 2022; Share of Retailers That Intend to Implement the Select Payment Strategies Through Third-Party Providers, in %, June 2022
4. North America: 4.1. Regional; POS Methods Overview and Trends, June 2023; 4.2. USA; Share of Retailers Innovating New Payment Methods For In-Store Customers, in %, June 2022; Number of Proximity Mobile Payment Users, in millions, and Penetration, in % of Smartphone Users, 2022-2026f; Proximity Mobile Payment Transaction Value, in USD billion, 2022-2026f; Preferred Payment Methods For In-Person Transactions, in % of Respondents, October 2022; Average Number of Monthly Cash and Non-Cash Payments, by Merchant Type, in Absolute Value, October 2022; Breakdown of In-Person Purchases and P2P Transactions Made vs Those That Were Made Online, in % of All Payments, 2021 & 2022; Breakdown of Adults Using Peer-to-Peer Services, & Breakdown of Adults Using Peer-to-Peer Service, by Age, in % of Adults, March 2022; Top Peer-to-Peer Payment Apps Used at Least Once a Month, in % of Adults, March 2022; Share of Shoppers Willing to Shop More at a Store Offering Scan and Go Option, in %, 2022e; Share of Shoppers Who Used or Are Willing to Use Self-Checkout via Smartphone, in %, April 2023; Benefits and Challenges of Self-Checkout, in % of Shoppers, April 2023; Preferred Ways in Which Respondents Paid For Transactions Both Online and In-Store, in % of Respondents, August 2022; Preferred Ways in Which Respondents Could Collect and Earn Benefits From a Loyalty Program in the Future, in % of Respondents, August 2022; Likelihood of Using Select Redemption Methods in Case of Their Availability, in % of Respondents, August 2022; Select Payment Methods That Retailers Will Add or Improve in the Next 3 Years, in % of Retailers, June 2022; Breakdown of Shoppers Who Used a Smartphone (Apple Pay or Google Pay) to Pay at a Retail Store, in %, April 2023; Share of Retailers That Accept or Plan to Accept the Select Payment Methods In-Store, in %, 2022; Number of Smartphone QR Code Scanners, in millions, and Penetration, in % of Smartphone Users, 2022-2026f; 4.3. Canada; Share of Food & Retail Transaction Volume, by Payment Type, in %, 2022-2024f; Share of Customers Who Showed Willingness to Use Loyalty Program if it Was Automatically Linked With Their Payment Card, in %, 2022e
5. Europe: 5.1. Regional; POS Methods Overview and Trends, June 2023 (1 of 2); POS Methods Overview and Trends, June 2023 (2 of 2); Top Payment Methods Used at Point of Sale, in % of Transactions, June 2022; Frequency of Using Cash at Physical Point of Sales, in % of Respondents, June 2022; Share of Payment Instruments Used at POS In Terms of Value, by Country, in % of Value of Transaction, June 2022 (1 of 2); Share of Payment Instruments Used at POS In Terms of Value, by Country, in % of Value of Transaction, June 2022 (2 of 2); Preferred Payment Instrument at Point of Sale, by Country, June 2022 (1 of 2); Preferred Payment Instrument at Point of Sale, by Country, June 2022 (2 of 2); 5.2. UK; Type of POS Payment Methods Used in the Past Month vs Those That Were Preferred, in % of Shoppers, April 2022; Share of Respondents Who Have Several Loyalty Cards vs Those Who Have One Loyalty Card, in %, May 2022; Number of Proximity Mobile Payment Users, in millions, and Penetration, in % of Smartphone Users, 2022-2026f; Top Activities For Which Consumers Use Retailer’s Mobile App, in % of Respondents, February 2023; 5.3. Germany; Breakdown of Transactions Made via Physical, Contactless and Mobile Payments, in %, 2022; Breakdown of Payment Methods Used in Store-Based Retail Sales, in %, 2022; Share of Cards Used Within Card Payments in Store-based Retail Sales, in % of Card Payments, 2022; Preferred Payment Method at POS, by Generation, in % of Respondents, June 2022; Top 5 Criteria That Respondents Consider to Select the Right Payment Method at Checkout, in % of Respondents, June 2022; Preferred Payment Methods in Retail Shops in the Next 5 Years, in % of Respondents, 2022; Top Functionalities That a POS Payment Method Should Have, in % of Respondents, 2022; Share of Respondents Willing Direct Credit of Bonus Points at Retailer’s vs Those Who Use Loyalty Points as Payment at POS, in %, 2022; 5.4. France; Number of P2P Mobile Payment Users, in millions, and Share of Population Using P2P Payment, in % of Population, 2022-2026f; Type of POS Payment Methods Used in the Past Month vs Those That Were Preferred, in % of Shoppers, April 2022; Share of POS Transactions Made in Cash vs Those That Were Made by Cards, in %, 2022; Share of Respondents Who Were Willing to Use Contactless Payment Method vs Merchants Who Offered Contactless Payments, in %, September 2022; Banking Services That Respondents Are Aware vs Confident About, incl. ”POS Payment Methods”, in % of Respondents, December 2022; 5.5. Netherlands; Preferred Payment Method Among Respondents Who Prefer Cash vs Those Who Prefer Debit Card at POS, in % of Purchases, December 2022; Share of Preferred POS Payment Method, by Place of Purchase, in %, December 2022; Share of Preferred Payment Methods at POS, by Gender, in %, December 2022; Share of Preferred Payment Methods at POS, by Generation, in %, December 2022; 5.6. Russia; Share of Cash vs Cashless Payments For Goods and Services in Retail Turnover, in %, 2020-2022
6. Asia-Pacific: 6.1. Regional; POS Methods Overview and Trends, June 2023; 6.2. Japan; Change in Cash Usage Frequency Compared to a Year Ago as of August-September 2022, in % of Respondents, March 2023; Use of Alternative Payment Methods Other Than Cash at POS, in % of Respondents, March 2023 (1 of 2); Use of Alternative Payment Methods Other Than Cash at POS, in % of Respondents, March 2023 (2 of 2); Breakdown of Respondents Using Smartphone Payment Services, by Payment Method, in %, January 2023; Top Places Where Smartphone Payments Are Used, in % Smartphone Payment Service Users, January 2023; Top Used Smartphone Payment Service, by Type of Payment, in % of Respondents, January 2023; Most Used Smartphone Payment Service, by Type of Payment, in % of Respondents, January 2023; Most Used QR Code Payment Service, in % of Respondents, January 2023; Most Used Contactless Payment Service, in % of Respondents, January 2023; Top Reasons For Using QR Code Payment Services at POS, in % of Smartphone Payment Service Users, January 2023; Usage Frequency of QR Code Payment Services at Convenience Store, in % of Smartphone Payment Service Users, January 2023; Top Reasons For Using Smartphone Contactless Payments at POS, in % of Smartphone Payment Service Users, January 2023; 6.3. South Korea; Total Payment Value, by Current Card Payment Method, in KRW billion, 2021 & 2022; 6.4. Australia; Mobile Wallet Payment With Credit and Debit Card, by Volume, in % of All Card Transactions, 2022e; Breakdown of Non-Cash Retail Payment Methods, in % of Number of Payments, 2022e; Types of Digital Wallets That Respondents Used as Their Primary Means of Payment, in % of Respondents, October 2022; Share of Respondents Willing to Shop More With a Retailer If the Loyalty Program was Automatically Linked to the Payment Card, in %, 2022e; 6.5. China; Third-Party Integrated Payment Transactions, in CNY trillion, Year-on-Year Change, in %, 2022e-2026f; Share of Mobile Phone Users Using Mobile Payments Everyday, in %, 2022; Preferred Mobile Payment Method Among Mobile Payment Users in Offline Scenario, in % of Mobile Payment Users, 2022; 6.6. India; Total Volume of Select Payment Method at POS, in millions & Value of Payment Method at POS, in INR trillion, Q3 2022; Share of Preferred Payment Methods, by Value and Volume, in %, Q3 2022
7. Latin America: 7.1. Regional; POS Methods Overview and Trends, June 2023; 7.2. Brazil; Share of Respondents Using NFC Payments via Credit and Debit Cards, in %, Q1 2022 & Q1 2023; Most Used Payment Methods, in % of Respondents, September 2022; Most Desired Payment Method Respondents Intend to Use in the Next 12 Months, in % of Respondents, September 2022; 7.3. Mexico; Most Used Payment Method For Purchases or Face-to-Face Payments in the Past week, in % of Internet Users, August 2022; Favorite Payment Method Among Respondents When it Comes to Face-to-Face Payments, in % of Internet Users, August 2022; 7.4. Chile; Most Used Payment Method For Purchases or Face-to-Face Payments in the Past week, in % of Internet Users, August 2022; Preferred Payment Method Used For In-Store Purchases, in % of Respondents, August 2022
8. Middle East and Africa: 8.1. Regional; POS Methods Overview and Trends, June 2023 (1 of 2); POS Methods Overview and Trends, June 2023 (2 of 2); 8.2. UAE; Share of Respondents Using Contactless Credit and Debit Cards at POS, in %, October 2022; Share of Respondents Using Digital Wallets For In-Store Payments, in %, 2021 vs 2022; Top Factors That Respondents Consider When Choosing Digital Payment Method to Pay for Goods and Services In-Sore, in % of Respondents, 2022e