Payment methods

Global Alternative Payment Methods 2021 After COVID-19 – ResearchAndMarkets.com

DUBLIN – (COMMERCIAL THREAD)–The “Global Alternative Payment Methods 2021 After COVID-19” report was added to ResearchAndMarkets.com offer.

“Global Alternative Payment Methods 2021 Post COVID-19” provides an overview of the current state and future trends of the alternative payments market around the world. Among other findings, the publication reveals that the main reason for using the BNPL service in the United States is to make purchases that cannot be funded in the current budget, starting in 2021.

The BNPL solution, which accelerated in 2020, was mainly used online

Credit and debit cards are clearly the most common payment methods around the world, and they gained momentum even further after the onset of COVID-19. However, as consumers adjust to the ‘new normal’ in 2020, their interest in alternative payments has also grown. One of the most common was Buy Now Pay Later, which was used by 30% of people in 2020 when making online payments, according to an August 2020 survey cited in the report.

Some of the major BNPL service providers around the world include Afterpay, Zip Co, Klarna, PayPal Credit, Tabby and Tamara which have seen acceleration and also received high investment funding amounts in 2020. In addition, the BNPL solution was primarily preferred for use online, for example. , in Germany, around 60% of respondents said they had used BNPL online and 56% of them intended to continue using it digitally.

One of the reasons cited by users of BNPL services in the US is to be able to make purchases that would otherwise not be possible within their current budget.

Although cryptocurrency was used to make payments before COVID-19, in 2020 usage accelerated in many countries around the world.

The payments industry has changed dramatically amid COVID-19 in 2020, with businesses and consumers quickly adopting new payment methods. About 70% of consumers globally were open to using cryptocurrency more than they were a year ago, according to a March 2021 survey. Additionally, in the United States, the rate of The cryptocurrency uptake of 11% was significantly higher than the global average of 3%, in December 2020.

The share of those who owned cryptocurrency in Turkey reached a slightly higher share of 16% in the first quarter of 2020. Additionally, the most common product categories purchased with cryptocurrency in the United States were ” grocery shopping “and” online gambling or gambling, “according to sources cited in this report.

Cover of the report

  • This report covers the Asia-Pacific online payment market. It takes into account a broad definition of online payment, including payment methods used in online shopping and mobile payment, such as distance and proximity payments.

  • Major countries in the region are covered, while data availability varies by market.

  • The report includes data released mostly within the past 12 months. The exact date of publication of the source is indicated on each map. The time period to which the data refer differs depending on the source.

Structure of the report

  • The Global Chapter opens the report, providing an overview of global developments in online and mobile payments.

  • Then information on regional development is included.

  • The rest of the report contains country specific information. The countries are grouped by advanced and emerging markets. Within each group, countries are presented in descending order of B2C E-Commerce sales.

  • Depending on data availability, the following types of market information are included: payment methods most used by online shoppers, distribution of e-commerce sales by payment method, number and value of payment transactions in line / mobile, mobile payment user penetration and consumer awareness of medium innovative payments. Not all of the types of information mentioned are available for each of the countries covered.

Global developments

  • Online and mobile payment Post COVID-19, August 2021

  • Value of payments, in trillions of dollars, by region and by estimates before and after COVID-19, 2010, 2014, 2018, 2019 and 2020e

  • Main online payment methods, in% of respondents, August 2020

  • Use of cash in mature markets, by country, incl. Japan, Singapore, South Korea and United States, as% of total transaction volume, 2010 and 2020e

  • Use of cash in emerging markets, by country, incl. Indonesia, India, Mexico and China, as% of total transaction volume, 2010 & 2020e

  • Number of cashless transactions, billions, CAGR,%, 2020, 2025f & 2030f

  • Proximity mobile payment users in selected countries, as a% of smartphone users, 2021st

  • Mobile wallet adoption rate,% of respondents, 2020

  • Share of QR code payments,% of all digital wallet transactions, 2020 and 2025f

  • Number of real-time payment transactions in some countries, incl. India, China and South Korea, in billions, 2020

  • Perception of cryptocurrency,% of millennial consumers, March 2021

  • Number of users making online payments with facial recognition, in billions, 2020 and 2025f

  • Number of users who will confirm transactions with speech recognition, in millions, 2020 and 2025f

  • Top payment methods consumers plan to use next year,% of consumers, March 2021

  • Main payment methods available, by B2C and B2B, in% of payment decision makers, 2020

Companies mentioned

  • Adyen

  • To affirm

  • After payment

  • Alipay

  • American Express

  • Blik

  • Boleto Bancario

  • Coinbase

  • European Central Bank

  • Faberge

  • Food

  • HMSHost International

  • username

  • JPMorgan Chase

  • Jumia

  • Kakao Pay

  • Klarna

  • LINE Pay

  • MasterCard

  • MoMo

  • Naver Pay

  • Noon

  • Pay Pal

  • Pay

  • PayU

  • Przelewy24

  • Quadpay

  • Rakuten Edy

  • Samsung Pay

  • Bandaged

  • Suica Mobile

  • Tenpay

  • ViettelPay

  • VIPPS

  • Visa

  • Zipper

For more information on this report, visit https://www.researchandmarkets.com/r/2r319

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