North America Mobile Payment Methods Analysis Report 2022-2025 with Apple Pay, Google Pay, PayPal, Samsung Pay, Starbucks and Venmo – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Mobile payment methods in North America 2022” report has been added to from ResearchAndMarkets.com offer.

This report provides a summary of trends and latest developments in the mobile payment market along with forecasts of future developments. The publication also reveals that the number of mobile wallets is expected to reach millions by 2025.

The use and adoption of digital wallets is growing across the North American region

Witnessing a double-digit CAGR between 2022 and 2026, the value of digital wallet transactions worldwide is expected to reach trillions of euros by 2026. Among the most used digital wallets in the United States are PayPal, followed by Apple Pay and Venmo. Additionally, nearly a third of Americans have used these digital wallets to pay for nearly all of their online purchases.

Additionally, in 2021, more than half of online merchants offered mobile payment and more than two-thirds allowed digital wallet payments at checkout. In terms of age groups, digital wallets and mobile payments had the highest frequency of use among Gen Z consumers compared to other age groups in February 2022.

More than half of online merchants in Canada have also accepted digital wallets. Additionally, more than a third of adult Internet users in Canada were very or somewhat comfortable using mobile or digital wallets as a means of payment.

Competition intensifies between mobile wallet players, with PayPal and Apple Pay remaining in the lead

As North American consumers increasingly turn to mobile payments, especially mobile wallets, competition among existing players is growing.

The US market is also seeing a growing trend of using proximity mobile payments, with Apple Pay being the most dominant player by 2026.

The number of local mobile payment users primarily using Apple Pay is expected to grow strongly between 2019 and 2026, with numbers reaching the mid-millions by 2026, followed by Starbucks mobile payment and Google Pay.

Answers to key questions

  • What are the most popular payment methods offered by online merchants in North America?

  • How many mobile wallets are expected to be in use in North America by 2025?

  • What are the most used types of digital wallets in the United States?

  • What types of payment methods were most offered by online merchants when paying in the United States?

  • How many P2P mobile payment users are expected in Canada by 2025?

Main topics covered:

1. Management Summary

2. Global developments

  • Trends in online and mobile payments, July 2022

  • Value of Digital Wallet Transactions, USD Trillion, 2022f & 2026f

  • Mobile payment market size, in USD trillion, 2021 and 2028f

  • Number of B2C e-commerce transactions paid by OEM mobile payment apps, in billions, 2022f and 2026f

  • Most used payment methods when shopping online during the pandemic, as % of online shoppers, by selected countries, April 2021

  • Value of biometrically authenticated remote mobile payments, USD billion, 2022e & 2027f

  • Volume of biometrically authenticated remote mobile payments, in billions, 2022e & 2027f

  • Number of contactless mobile transactions, in billions, 2021e & 2023f

  • Mobile proximity payment users worldwide, in millions, and annual change, in %, 2020-2025f

  • Penetration of mobile proximity payment users, as % of smartphone users, 2020-2025f

  • Number of mobile wallet users, by region, in millions, 2020 and 2025f

  • Mobile proximity payment users in selected countries, as % of smartphone users, 2021e

  • Payment methods accepted by online merchants, by already accepted and planned, in % of online merchants, February 2022

  • Breakdown of Fraudulent Digital Banking Transactions, by Channel, incl. Mobile app, in %, Q3 2019 – Q2 2021

3. North America

3.1. Regional

  • Overview of online and mobile payment trends, July 2022

  • Number of mobile wallets used, in millions, and annual change, in %, 2020-2025f

3.2. UNITED STATES

  • P2P mobile payment users, in millions and % Annual change, 2020-2026f

  • P2P mobile payment users, in millions, and penetration, in % of smartphone users, 2020-2026f

  • Value of P2P mobile payment transactions, USD billion, and annual change, in %, 2020-2025f

  • Mobile proximity payment users, by platform, in millions, 2019-2026f

  • Mobile proximity payment expenditure, per user, in USD, and annual change, in %, 2019-2026f

  • Value of mobile proximity payment transactions, in billion USD, and annual change, in %, 2019 – 2026f

  • Distribution of digital wallets used, in % of digital wallet users, February 2022

  • Use of credit/debit card or bank account vs. digital wallet as online payment methods, % of online shoppers, January – February 2022

  • Means of payment offered when paying online, as a % of online merchants, October 2021

  • Breakdown of payment methods used most often, by age group, as a % of adults, February 2022

  • Means of payment offered when paying online, as a % of online merchants, October 2021

  • Means of payment used on a weekly basis, in % of consumers, April 2020 and April 2021

3.3. Canada

  • Attitude towards the use of digital wallets and mobile payment services, in % of adult Internet users, March 2021

  • Number of P2P mobile payment users, in millions, and year-on-year change, in %, 2019-2025f

  • Number of P2P mobile payment users, in millions, and share, in % of population, 2019-2025f

Companies Mentioned

  • Pay Apple

  • Google Pay

  • PayPal

  • Pay Samsung

  • Starbucks

  • Venmo

For more information about this report visit https://www.researchandmarkets.com/r/127z2v

Comments are closed.