Online payment methods in North America 2022

New York, June 30, 2022 (GLOBE NEWSWIRE) — announces the release of the “North America Online Payment Methods 2022” report –
S. and Canada still prefer to use credit cards for online purchases in 2022, according to data included in the report. Nonetheless, mobile wallets are growing in acceptance, already supported by around one in two e-commerce merchants in the US and one in three in Canada. In-store use of mobile payment solutions is also on the rise as competition between major vendors such as Apple and Google intensifies.

U.S. Consumer Adoption of BNPL Continues to Grow in Usage and Penetration

A payment solution that is gaining popularity with consumers in North America is the Buy Now Pay Later (BNPL) service. In the United States alone, the number of BNPL users is expected to more than triple by 2025. The younger generation saw the highest BNPL user penetration rates in 2021. Additionally, approximately one third of US online shoppers have used BNPL as a payment method, and nearly half of all BNPL users prefer using BNPL over credit cards. When it comes to BNPL platforms used, Afterpay and Klarna were in the lead in the US, according to a recent survey cited by the report.

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