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Online Payment Methods 2020 and the Impact of COVID-19 - e-Commerce Payment Choices Amid the Pandemic Differ by Country
Thursday, July 9, 2020
DUBLIN, July 1, 2020 /PRNewswire/ -- The "Global Online Payment Methods 2020 and COVID-19's Impact" report has been added to ResearchAndMarkets.com's offering.
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Digital payment method adoption grows during the COVID-19 outbreak
Consumers' payment behavior is changing as a result of the coronavirus outbreak, according to the report. Nearly 50% of global shoppers were using digital payments more than before the pandemic, and the majority plan continues doing so after the virus is contained. E-Wallets and contactless cards are the top payment methods benefitting from this change, as consumers use less cash and make more purchases online. In an international survey cited in the report, close to three-quarters of respondents found that contactless was a cleaner way to pay.
E-Commerce payment choices amid the pandemic differ by country
When purchasing on E-Commerce websites during the pandemic, global consumers mainly use credit cards and digital wallets, although there is also a strong variation in the way shoppers in different countries pay online. For example, more than two-thirds of digital buyers in Canada chose to pay by credit card when shopping online during the outbreak, while UK buyers preferred debit cards and those in Italy opted for digital wallets like PayPal. Payment security was the top criterion applied by online shoppers when selecting their top payment method, according to an April 2020 survey.
Report Coverage
-- This report covers the global online payment market. It takes into
account a wide definition of online payment, including payment methods
used in online shopping and mobile payment, such as remote and proximity
payments. In addition, information related to the impact of the
coronavirus (COVID-19) on digital payments worldwide is included in this
report.
-- The report includes data mostly published in the previous 12 months. The
exact date of publication of the source is stated on each chart. The
time period which the data refers to differs by source.
Report Structure
-- The global chapter opens the report, featuring an overview of global
online and mobile payment developments.
-- The rest of the report is divided by regions presented in the descending
order of B2C E-Commerce sales. Within each region, the countries are
grouped by advanced and emerging markets, where applicable, and ranked
by online sales. Furthermore, text charts summarizing the impact of
COVID-19 on digital payments in each of the regions are included.
-- Depending on data availability, the following types of market
information are included: payment methods most used by online and mobile
shoppers, breakdown of E-Commerce orders by payment methods, number and
value of online/mobile payment transactions, mobile payment user
penetration, and consumer and merchant attitudes to online and mobile
payments. Not all the mentioned types of information are available for
each of the covered countries.
Key Topics Covered
1. Management Summary
2. Global Developments
-- COVID-19 Impact on Online & Mobile Payment, May 2020
-- COVID-19 Impact on Payment Providers, June 2020
-- 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
-- Post-COVID-19 Forecast for Digital Commerce & Payments Spending, in USD
trillion, 2020f & 2021f Compared to 2019
-- Share of Consumers Who Plan to Increase Their Usage of Digital Payments
Due To COVID-19, in %, by During COVID-19 and In The Next 6-9 Months,
April 2020
-- Digital Transactions Share of Total Payment Transaction Value, 2025f, by
Estimate Before COVID-19 and After
-- Payment Methods Most Used When Shopping Online During The Pandemic, in %
of Online Shoppers, by Selected Countries, April 2020
-- Payment Methods Used For the First Time When Shopping Online During The
Pandemic, in % of Online Shoppers, by Selected Countries, April 2020
-- Criteria for Choosing a Payment Method in Online Shopping Which Became
More Important Since The Pandemic Outbreak, in % of Online Shoppers, by
Selected Countries, April 2020
-- Share of Online Shoppers Who Had Abandoned a Shopping Cart Due to Their
Preferred Payment Method Not Being Offered, in %, January 2019
-- Share of Respondents Who View Contactless as a Cleaner Way to Pay, in %,
April 2020
-- Proximity Mobile Payment User Penetration, in % of Smartphone Users, by
Selected Countries, 2019e
-- Overview of Mobile Money Statistics, incl. Number of Live Services,
Registered Accounts, in millions, Active Accounts, in millions,
Transaction Volume in millions, and Transaction Value, in USD billion,
and Year-on-Year Growth, in %, by Region, 2019
3. Asia-Pacific
3.1. Regional
3.2. Advanced Markets
3.2.1. Japan
3.2.2. South Korea
3.2.3. Australia
3.2.4. Singapore
3.3. Emerging Markets
3.3.1. China
3.3.2. India
3.3.3. Indonesia
3.3.4. Thailand
3.3.5. Malaysia
4. Europe
4.1. Regional4.2. Advanced Markets4.2.1. UK4.2.2. Germany4.2.3. France4.2.4. Spain4.2.5. Italy4.3. Emerging Markets4.3.1. Russia4.3.2. Poland4.3.3. Turkey4.3.4. Czech Republic
5. North America
5.1. Regional
5.2. USA
5.3. Canada
6. Latin America
6.1. Regional6.2. Brazil6.3. Mexico6.4. Argentina6.5. Colombia6.6. Chile
7. Middle East & Africa
7.1. Regional
7.2. UAE
7.3. Saudi Arabia
7.4. Israel
7.5. South Africa
7.6. Egypt
7.7. Kenya
Companies Mentioned
-- Alphabet Inc.
-- Amazon.com Inc.
-- Ant Financial Services
-- Apple Pay Inc.
-- Facebook Inc.
-- Go-Jek
-- Grab Holdings Inc.
-- Kakao Corp.
-- LINE Corp.
-- Mastercard Inc.
-- MercadoLibre Inc.
-- Naver Corp.
-- PS Yandex Money LLC
-- PayPal Holdings Inc.
-- PayPay Corp.
-- Paytm E-Commerce Pvt. Ltd.
-- Rakuten Inc.
-- Samsung Electronics Co. Ltd.
-- Tencent Holdings Ltd.
-- Visa Inc.
For more information about this report visit https://www.researchandmarkets.com/r/l4e9lt
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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