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North American Online Payments Market Insight 2020 - COVID-19 Drives a Shift to Contactless Payments
Tuesday, May 19, 2020
DUBLIN, May 11, 2020 /PRNewswire/ -- The "North America Online Payment Methods 2020 & COVID-19's Impact" report has been added to ResearchAndMarkets.com's offering.
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COVID-19 Drives a Shift to Contactless Payments in North America
North American Consumers adopt contactless payments amid the COVID-19 pandemic
Contactless cards and mobile payments are growing in the USA and Canada as the coronavirus pandemic continues, according to findings in this report. A recent survey cited by the analyst shows that nearly one-third of consumers in the USA became first-time users of contactless payments during the pandemic, and the majority planned to continue paying contactless post-COVID-19. Contactless card payments in the U.S. are projected to increase eight-fold between 2020 and 2024, and mobile proximity payments are also rising rapidly.
Credit cards and alternative payment methods battle in North America's online retail
In e-Commerce, plastic remains the leading payment method by market share both in Canada and the USA, according to statistics cited in the report. The top alternative payment methods include digital wallets in the USA and bank transfers in Canada. Digital wallets are projected to see rapid growth in the U.S. and overtake credit cards by share of e-Commerce sales within the next two years. Mobile wallet solutions are gaining popularity not only for remote shopping but also for in-store purchases and P2P transfers. The top mobile payment apps in the USA include Apple Pay, Samsung Pay, and Google Pay, while in Canada mobile banking apps outrank digital wallets such as PayPal, Apple Pay, and Starbucks payment app
Key Topics Covered
1. Management Summary
2. Global Developments
-- The Impact of COVID-19 on Payments Revenues, incl. Payments Revenues in
2019, Pre-COVID-19 Forecast, and Payments Revenues Forecast Under The
Impact of COVID-19, in USD billion, 2020
-- Online & Mobile Payment Platform Revenues, in USD billion, 2019e & 2024f
-- Mobile & Online Remote Payment Value, in USD billion, by Selected
Regions, 2024f
-- Mobile & Online Remote Payment Value, in USD billion, by Digital and
Physical Goods, 2024f
-- Payment Methods Preferred in E-Commerce, in % of Online Shoppers, by
Selected Regions, January 2019
-- Share of Online Shoppers Who Had Abandoned a Shopping Cart Due to Their
Preferred Payment Method Not Being Offered, in %, January 2019
-- Share of Mobile Shoppers Who Had Abandoned a Shopping Cart Due to Their
Preferred Payment Method Not Being Offered, in %, August 2019
-- Online Payment Fraud Losses, in USD million, by Segment, 2023f
-- Online Payment Fraud Prevention Software Spending, in USD billion, 2020f
& 2024f
-- Number of Digital Wallet Users, in billions, 2019e & 2024f
-- Breakdown of Digital Wallets by Provider's Main Industry, in %, 2019
-- Proximity Mobile Payment Users, in billions, and Penetration, in % of
Smartphone Users, 2018 - 2023f
-- Proximity Mobile Payment User Penetration, in % of Smartphone Users, by
Selected Countries, 2019e
-- Value of Mobile Payment Transactions Authenticated via Biometrics, in
USD billion, 2019e & 2024f
3. Regional
3.1. North America
-- Online & Mobile Payment Trends and News About Players, March 2020
3.2. USA
-- The Impact of COVID-19 on Digital Payments, April 2020
-- Share of Consumers Shopping Online More Frequently as A Result of The
Coronavirus Outbreak, in %, March 2020
-- Precautions Taken by Consumers Due To COVID-19 When Shopping In-Store,
in % of Consumers, March 2020
-- Perceived Importance of the Contactless Feature in Credit Cards, in % of
Consumers, by Pre COVID-19 and on March 3, 2020
-- Contactless Card Payment Transaction Value, in USD billion, 2020f &
2024f
-- Consumers Who Tried Contactless Payments for the First Time During The
Pandemic, in % of All Consumers, and Consumers Who Would Keep Using
Contactless Payments After The Pandemic, in % of First-Time Users, March
2020
-- Breakdown of Payment Methods Used, by Retailer Type, in % of Consumers,
August 2019
-- Top 3 Payment Methods Used via Computer, by Average Purchase Value, in
USD, and Frequency of Purchase, by Times Purchased in The Previous 30
Days, 2019
-- Top 3 Payment Methods Used via Mobile, by Average Purchase Value, in
USD, and Frequency of Purchase, by Times Purchased in The Previous 30
Days, 2019
-- Payment Methods That Small Businesses Plan to Start Accepting In The
Next 12 Months, in % of Small Businesses That Not Do Not Currently
Accept That Payment Method, 2019
-- Awareness, Usage and Usage Intent of Interest-Free Online Payment
Programs, in % of Adults, Q1 2019 - Q4 2019
-- Top Reasons for Shopping Cart Abandonment During Checkout, in % of
Adults, September 2019
-- Share of Merchants Storing Customer Payment and Profile Data and
Planning to Start Doing So in The Next 12 Months, in %, September 2019
-- Average Share of Online Sales Attributed to Fraudulent Transactions
According to Merchants, in %, 2018 & 2019
-- Innovative Payment Security Measures Perceived by Merchants as Effective
in Combating Online Fraud, in % of Merchants, September 2019
-- Annual Payment Transaction Value per Digital Wallet, in USD, 2019e &
2024f
-- Mobile Wallet User Penetration, in % of Smartphone Users, May 2019
-- Share of Digital Wallet Users Who Change The Card They Use In Their
Digital Wallets to a Non-Default Card Every Couple of Weeks or More
Often, in %, by Usage Channel, August 2019
-- Top 3 Digital Wallets, by Payment Channel, in % of Digital Wallet Users,
August 2019
-- Mobile Payment Usage, in % of Smartphone Users, 2018 & 2019
-- Types of Payments Made via Mobile Payment Apps, in % of Mobile Payment
App Users, January 2020
-- Reasons for Not Using Mobile Payment Apps, in % of Internet Users Who Do
Not Use Mobile Payment Apps, January 2020
-- Breakdown of Payment Methods Used With Digital Wallets, by Credit Card,
Debit Card and Bank Account, in % of Users, August 2019
-- Breakdown of Payment Methods Used With Apple Pay, in % of Apple Pay
Users, by Generation, August 2019
-- Number of Proximity Mobile Payment Users of Apple Pay, Google Pay and
Samsung Pay, in millions, 2019e
-- Number of Proximity Mobile Payment Users, in millions, and Penetration,
in % of Smartphone Users, 2018- 2023f
-- Proximity Mobile Payment Transaction Value, in USD billion, and
Year-on-Year Change, in %, 2018- 2023f
-- P2P Mobile Payment Transaction Value, in USD billion, and Year-on-Year
Change, in %, 2018-2023f
-- Top 3 Digital Wallets Used for P2P Payments, in % of Users, August 2019
3.3. Canada
-- Breakdown of E-Commerce Sales by Payment Method, in %, 2018
-- Most Trusted Payment Methods, in % of Internet Users, April 2019
-- Breakdown of Main Reasons For Credit Card Use, in % of Credit Card
Holders, May 2019
-- Impact of An Easy Checkout and Payment Process On Purchase Behavior, in
% of Internet Users, April 2019
-- Selected Reasons for Shopping Cart Abandonment, in % of Online Shoppers,
January 2019
-- Share of SMBs Who Reported Having Lost Sales Due to Lack of Preferred
Payment Methods, in % of SMBs, September 2019
-- Payment Methods Preferred By Small Businesses, in % SMB Payment Decision
Makers, By Total Preferred and Primarily Preferred to Accept, September
2019
-- Share of Internet Users Comfortable With Mobile Or Digital Wallet
Payments, in %, 2016 & 2019
-- Number of Proximity Mobile Payment Users, in millions, and Penetration,
in % of Smartphone Users, 2018- 2023f
-- Mobile Payment Apps Used, in % of Smartphone Users, 2019
-- Purposes of Using P2P Payment Services, in % of Users, August 2019
-- Average Number of E-Transfers via Interac per Month, in millions, 2019 &
March 2020
Companies Mentioned
-- Afterpay Ltd.
-- Alphabet Inc.
-- Amazon Payments Inc.
-- American Express Co.
-- Apple Inc.
-- Google Pay
-- Holdings Inc.
-- Klarna AB
-- PayPal
-- Samsung Co. Ltd.
-- Square Inc.
-- Starbucks Corp.
-- Venmo LLC
-- Visa Inc.
-- Zelle LLP
For more information about this report visit https://www.researchandmarkets.com/r/phqci4
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
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SOURCE Research and Markets
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