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Worldwide Alternative Online Payment Methods Industry 2022 - Players Include Dana, Google Pay, iDeal, Klarna and LINE Pay
Wednesday, October 12, 2022
DUBLIN, Oct. 4, 2022 /PRNewswire/ -- The "Global Alternative Online Payment Methods 2022" report has been added to ResearchAndMarkets.com's offering.
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After the spread of the COVID-19 pandemic, alternative payment methods have come to be more frequently used, specifically digital wallets. The global value of digital wallets is now forecasted to increase from 2022 to reach a value in the trillions of Euros in 2026.
Other alternative payment methods have also gained momentum including prepaid cards, BNPL, and bank transfers. The adoption of such alternative payment methods has a high potential of being useful to online merchants. A survey cited in the report reveals that more than one-third of consumers found the acceptance of digital payments to be a factor influencing their store purchasing choice.
Moreover, nearly half of online merchants who are not already accepting payments via digital wallets, plan to do so, and almost one third of surveyed small businesses also revealed that their acceptance of new payment methods is an area for growth. The acceptance of alternative methods of payment, such as mobile and digital wallets, by online businesses in Bulgaria has proven to be beneficial with more than one-half experiencing increases in sales share.
BNPL use increases
Aside from cryptocurrency and QR code payments, BNPL is another significant method of payment that continues to increase in presence on a global scale. The number of BNPL users is forecasted to increase from 2021 to 2026 to reach a value in the billions of Euros.
The share of BNPL in B2C E-Commerce payments made is also projected to more than double by 2026, compared to what it was in 2021. Furthermore, Klarna was the BNPL provider most used by top E-Commerce websites, holding a notable market share of BNPL services as of March 2022. Klarna's presence has been growing since 2019, reaching a significant number of users in 2021.
Key Topics Covered:
1. Management Summary
2. Global Developments
-- Online & Mobile Payment Trends, July 2022
-- Most Used Payment Methods When Shopping Online During The Pandemic, in %
of Online Shoppers, by Selected Countries, April 2021
-- Payment Methods Used More Frequently Compared To Pre-COVID-19 When
Shopping Online, in % of Online Shoppers, by Selected Countries, April
2021
-- Payment Methods Used More Frequently Compared To Pre-COVID-19 When
Shopping Online, in % of Online Shoppers, by Selected Countries, April
2021
-- Value of Digital Wallet Transactions, in USD trillion, 2022f & 2026f
-- QR Code Payment Transaction Value, in USD trillion, 2022e & 2025f
-- Cryptocurrency Payment Value, in USD billion, 2018-2023f
-- Number of B2C E-Commerce Transactions Paid by OEM Mobile Payment Apps,
in billions, 2022f & 2026f
-- Number of BNPL Users, in millions, 2021e & 2026f
-- BNPL Share of B2C E-Commerce Payments, in %, 2021e & 2026f
-- Market Shares of BNPL Services, in % of Top E-Commerce Websites
Supporting BNPL as a Payment Method, March 2022
-- Breakdown of E-Commerce Websites Offering BNPL as a Payment Method, by
Countries, in %, October 2021
-- Number of Klarna's Users, in millions, 2019-2021
-- Factors Influencing Store Purchasing Choice, Excluding Digital Payments,
in % of Consumers, December 2021
-- Areas for Growth According to Small Businesses, in % of Small
Businesses, December 2021
-- Payment Methods Accepted by Online Merchants, by Already Accepted and
Planned, in % of Online Merchants, February 2022
-- Share of Consumers and Small Businesses Planning to Use Digital Payment
Methods Exclusively Within the Next Two Years, in %, December 2021
-- Proximity Mobile Payment Users in Select Countries, in % of Smartphone
Users, 2021
-- Value of B2C E-Commerce Losses to Online Payment Fraud, in USD billion,
2020 & 2021e
3. Asia-Pacific
3.1. Regional
3.2. Advanced Markets
3.2.1. Japan
-- Payment Methods Used in B2C E-Commerce, in % of Online Shoppers, 2021
-- General Payment Methods Used, in % of Respondents, January 2022
-- Breakdown of Attitude Towards Future Use of Mobile Payments, in % of
Smartphone Users, February 2022
-- Breakdown of Most Used QR Code Mobile Payment Services, in % of QR Code
Mobile Payment Users, January 2022
3.2.2. South Korea
-- Breakdown of Payment Methods Used in B2C E-Commerce, in %, 2021
-- Mobile Wallet Ownership and Usage, in % of Adults, H1 2021
3.2.3. Australia
-- BNPL Sales, in AUD billion, FY 2019 & FY 2021
-- Awareness and Usage of Buy Now Pay Later Payment Methods, in % of
Respondents, September 2018 & June 2021
-- Awareness of Selected Buy Now Pay Later Services, in % of Respondents,
September 2018 / August 2020 & June 2021
-- Usage of Selected Online Payment Platforms, in % of Respondents, January
2018 & June 2021
3.2.4. New Zealand
-- BNPL and Credit Card Use, by Generation, in % of Respondents, January
2021
3.2.5. Singapore
-- Payment Methods Preferred in B2C E-Commerce, in % of Online Shoppers,
2021
-- Changes in Consumer Behavior Following COVID-19 According to Online
Merchants, incl. Payment-Related, in % of Online SMBs, September 2021
-- Share of Adults Who Would Prefer to Use BNPL to Buy An Item They Could
Not Afford Immediately, in %, December 2021
3.3. Emerging Markets
3.3.1. China
-- Payment Methods Preferred in B2C E-Commerce, in % of Online Shoppers,
2021
-- Most Used Payment Methods, in % of Internet Users, February 2022
-- Online Payment User Penetration, in % of Internet Users, June 2021
-- Number of Online Payment Users, in millions, and Penetration, in % of
Internet Users, 2017-2021
-- Number of Real-Time Payment Transactions, in billions, 2020 & 2025f
-- Breakdown of Mobile Wallet Market, in % of Total Value, July 2021
-- Third-Party Payment Value, by Mobile & Online, in CNY trillion,
2018-2025f
-- Factors Considered Before Choosing a Mobile Payment Platform, in % of
Internet Users, February 2022
3.3.2. Taiwan
-- Breakdown of Most Preferred Online Payment Methods, in % of Internet
Users, August 2021
-- Mobile Payment and Card User Penetration, by Age Group, in % of Internet
Users, August 2021
3.3.3. Hong Kong
-- Breakdown of Most Used Online Payment Methods, in %, 2023f
3.3.4. India
-- Breakdown of Total Transaction Volume, by Payment Method Type, in %,
2021
-- Breakdown of Total Transaction Volume, by Payment Method Type, in %,
2026f
-- Breakdown of Total Transaction Value, by Payment Method Type, in %, 2021
-- Breakdown of Total Transaction Value, by Payment Method Type, in %,
2026f
-- Payment Methods Preferred in B2C E-Commerce, in % of Online Shoppers,
2021
-- Overview of Selected Functions Available in Leading Mobile Wallet Apps,
July 2021
3.3.5. Indonesia
-- Payment Methods Preferred in B2C E-Commerce, in % of Online Shoppers,
2021
-- Digital Wallet and Mobile Banking Use, by Generation, in % of Mobile
Payment Users, H2 2021
-- Most Used Digital Wallet Platforms, in % of Mobile Payment Users, by
Socio-Economic Status, H2 2021
3.3.6. Thailand
-- Payment Methods Preferred in B2C E-Commerce, in % of Online Shoppers,
2021
-- Payment Methods Preferred in B2C E-Commerce, in % of Online Shoppers,
2021
-- Breakdown of Daily Payment Transactions by Payment Method, in %, 2021
3.3.7. Vietnam
-- Payment Methods Preferred in B2C E-Commerce, in % of Online Shoppers,
2021
3.3.8. Malaysia
-- Payment Methods Preferred in B2C E-Commerce, in % of Online Shoppers,
2021
3.3.9. Philippines
-- Breakdown of Payment Methods in B2C E-Commerce, in %, 2021
4. Europe
4.1. Regional
4.2. Advanced Markets
4.2.1. UK
4.2.2. Germany
4.2.3. France
4.2.4. Spain
4.2.5. Italy
4.2.6. Netherlands
4.2.7. Sweden
4.2.8. Belgium
4.2.9. Norway
4.2.10. Denmark
4.2.11. Finland
4.2.12. Austria
4.3. Emerging Markets
4.3.1. Russia
4.3.2. Poland
4.3.3. Turkey
4.3.4. Czech Republic
4.3.5. Portugal
4.3.6. Romania
4.3.7. Hungary
4.3.8. Bulgaria
4.3.9. Croatia
5. North America
5.1. Regional
5.2. USA
5.3. Canada
6. Latin America
6.1. Regional
6.2. Brazil
6.3. Mexico
6.4. Argentina
6.5. Colombia
6.6. Chile
6.7. Peru
7. Middle East & Africa
7.1. Regional
7.2. UAE
7.3. Saudi Arabia
7.4. South Africa
7.5. Egypt
7.6. Nigeria
Companies Mentioned
-- Affirm
-- Afterpay
-- Alipay
-- Apple Pay
-- Au Pay
-- Clearpay
-- D pay
-- Dana
-- Google Pay
-- iDeal
-- Klarna
-- LINE pay
-- Mastercard
-- Merpay
-- Payconiq
-- Paypal
-- Paypay
-- PayU
-- Przelewy24
-- Quadpay
-- Rakuten Pay
-- Sezzle
-- Swish
-- Visa
-- Yucho Pay
-- zipPay
For more information about this report visit https://www.researchandmarkets.com/r/d6gp7c
Media Contact:
Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
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