North America Mobile Payment Methods Analysis Report 2022: Competition Intensifies Among Mobile Wallet Players, with PayPal and Apple Pay Remaining at the Top

DUBLIN, November 18, 2022 /PRNewswire/ — The “North America Mobile Payment Methods 2022” report has been added ResearchAndMarkets.com gift

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This report provides an overview of the latest trends and developments in the mobile payments market, as well as a forecast of future developments. The publication also predicts that the number of mobile wallets will reach millions by 2025.

Digital wallets are expanding in use and adoption across North America

Witnessing a double-digit CAGR between 2022 and 2026, the value of digital wallet transactions worldwide will reach trillions of euros by 2026. Among the most used digital wallets in the US were PayPal, followed by Apple Pay and Venmo. Moreover, nearly one-third of Americans use these digital wallets to pay for almost all of their online purchases.

Furthermore, in 2021, more than half of online merchants will offer mobile payments and more than two-thirds will allow 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. February 2022.

More than half of online merchants in the Canada Digital wallets are also accepted. In addition, more than one-third of adult Internet users in Canada were very or somewhat comfortable using mobile or digital wallets as means of payment.

Competition among mobile wallet players is intensifying, with PayPal and Apple Pay remaining on top

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As consumers in North America rely more on the use of mobile payments, especially mobile wallets, the competition between the already existing players will strengthen.

The US market is also witnessing a growing trend in the use of nearby mobile payments, with Apple Pay set to be the dominant player by 2026.

The number of users of nearby mobile payments, mainly using Apple Pay, is expected to see the highest growth between 2019 and 2026, reaching millions by 2026, followed by Starbucks and Google Pay mobile payments.

Basic questions answered

  • Which payment methods are offered by online merchants the most North America?

  • It is predicted to be used in several mobile wallets North America until 2025?

  • What are the types of digital wallets in the US?

  • What types of payment methods do online merchants most often offer at checkout in the US?

  • Few P2P mobile payment users are expected Canada until 2025?

Main topics covered:

1. Summary of management

2. Global development

  • Online and mobile payment trends, July 2022

  • Value of digital wallet transactions, in trillions of US dollars, 2022f and 2026f

  • Mobile payment market size, in trillions of US dollars, 2021 and 2028f

  • Number of B2C eCommerce Transactions Paid by Mobile Payment Apps, in Billions, 2022f & 2026f

  • The most used payment methods during online shopping during the pandemic, with the percentage of online shoppers, by selected countries, April 2021

  • Biometric Remote Mobile Payments Value, in USD Billion, 2022e & 2027f

  • Biometric Remote Mobile Payments Volume, in Billions, 2022e & 2027f

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

  • Proximity mobile payment users worldwide, in millions and Annual change, in percent, 2020-2025f

  • Penetration of nearby mobile payment users, as a percentage of smartphone users, 2020-2025f

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

  • Proximity mobile payment users in selected countries, by percentage of smartphone users, 2021e

  • Payment methods accepted by online merchants, by already accepted and planned, with percentage of online merchants, February 2022

  • Breakdown of digital banking fraud operations, by channel, incl. Mobile application, with interest, quarter 3 2019 – Q2 2021

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3. North America

3.1. regional

  • Review of online and mobile payment trends, July 2022

  • Number of Mobile Wallets in Use, in Millions and Annual Change, in Percentage, 2020-2025f

3.2. USA

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

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

  • P2P mobile payment transaction value, in billion US dollars and annual change, in percent, 2020-2025f

  • Proximity Mobile Payment Users, by Platform, in Millions, 2019-2026f

  • Proximity mobile payment spending, per user, in US dollars and annual change, in percent, 2019-2026f

  • Near-field mobile payment transaction value in billion US dollars and year-over-year change, in percent, 2019 – 2026f

  • Distribution of digital wallets in use, with percentage of digital wallet users, February 2022

  • Use of credit/debit card or bank account versus digital wallet as online payment methods, by percentage of online shoppers, Jan – February 2022

  • Payment methods offered at the online cashier, with the percentage of online merchants, October 2021

  • Distribution of the most frequently used payment methods by age group, with a percentage of adults, February 2022

  • Payment methods offered at the online cashier, with the percentage of online merchants, October 2021

  • Payment methods used weekly, with percentage of consumers, April 2020 & April 2021

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3.3. Canada

  • Attitude towards using digital wallets and mobile payment services, in percentage of adult internet users, March 2021

  • Number of P2P Mobile Payment Users, in Millions and Annual Change, in Percentage, 2019-2025f

  • Number of P2P Mobile Payment Users, in Millions and Share, as a Percentage of Population, 2019-2025f

The mentioned companies

  • Apple Pay

  • Google Pay

  • PayPal

  • Samsung Pay

  • Starbucks

  • Venmo

To learn more about this report, visit https://www.researchandmarkets.com/r/2nkcz2

Media contact:

Laura WoodSenior manager
[email protected]

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