The share of cash payments is expected to decline in parts of the world by 2025, a new report reveals. Cards and digital wallets are the most common payment instruments in most parts of the world.
New York, Aug. 12, 2022 (GLOBE NEWSWIRE) — Reportlinker.com Announces Release of “Global Online Payment Methods 2022” Report – https://www.reportlinker.com/p05750482/?utm_source=GNW
Digital payments in the Asia-Pacific region have accelerated, with China being one of the pioneers towards a cashless society. Consumers in North America and Latin America regions still prefer to use credit cards for online purchases in 2022, according to data included in the report, and, in Europe, debit or card payments credit were the most preferred payment methods in several of the countries; however, other European countries differed, showing preferences for payments via mobile app, invoice, PayPal or another form of digital wallet, and direct bank payment. In the Middle East and Africa, payment experts expect the transition to digital systems to be sustainable, with a high double-digit percentage of payment practitioners surveyed predicting that at least half of new users of digital payment will continue to use digital payments instead of using cash in the future.
BNPL adoption continues to grow in usage and penetration
The number of Buy Now Pay Later (BNPL) users globally is expected to more than quadruple from 2021 to 2026 and the share of BNPL used in B2C e-commerce payments is expected to grow by 15pp over the same period, as shown. in the report. In North America, the BNPL service is gaining momentum, the number of BNPL users is expected to more than triple by 2025 in the United States alone. Additionally, in the APAC region, more than three-quarters of Australians were aware of the BNPL service and its key market players such as Afterpay and Zip.
For individual market report purchases:
1. A “single user license” means that only one (1) individually named user from an organization will have the right to access the report
2. A “Site License” means that up to ten (10) users in a given geographic location (i.e. country) of an organization will be entitled to access the report
3. A “Global Site License” means that up to ten (10) global users from one organization will be entitled to access the report.
In all cases, the term “organization” refers only to Buyer’s specific company and excludes any third parties, including affiliates.
Read the full report: https://www.reportlinker.com/p05750482/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.
CONTACT: Clare: [email protected] US: (339)-368-6001 Intl: +1 339-368-6001