Digital payments have become an increasingly popular way to make purchases and transfer money around the world. According to recent statistics, digital payments are predicted to hit 726 billion transactions worldwide by 2020, up from 433 billion in 2015. Digital payment services are expected to make up for 23.5% of all global transactions by 2025 and mobile wallet transactions reached a value of $6.1 trillion in 2019 alone. The digital payments market is projected to grow at a CAGR of 13.7% between 2021-2028, with approximately 75% of internet users making purchases via mobile devices last year as well as 100 million new consumers adopting digital payments annually until 2023 according to estimates made by BCG consultants .
The COVID-19 pandemic has also had an impact on the use of digital wallets; during this period India saw 115 million new users while North America represents 30% of the total global market share for these services today – Europe reaching 706 billion transaction values in 2020 too. In Asia 48%, China 890 million people used them last year whilst Latin American surpassed 200 billions dollars worths’of transaction value that same time frame – 69 % preferring it over cash due its safety features against Covid 19 fears.. Africa experienced growth rates surpassing 700 percent since 2012 when looking into their own figures regarding usage levels within this sector.. Finally ,the Global Market size is estimated at 221 Billion Dollars come 2026 with Millennials (25-34) representing 27 percent out off all newly acquired customers back in 2019 where 3 point 4 Billion Smartphones were enabled with Mobile Payment Features
This statistic is a testament to the rapid growth of digital payments, highlighting the immense potential of this technology. It shows that digital payments are becoming increasingly popular, with more and more people turning to them as a convenient and secure way to make payments. This statistic is a clear indication that digital payments are here to stay and will continue to grow in the coming years.
Digital payments are expected to make up for 23.5% of worldwide transactions by 2025.
This statistic is a powerful indicator of the growing importance of digital payments in the global economy. By 2025, digital payments are projected to account for nearly a quarter of all transactions worldwide, demonstrating the increasing prevalence of digital payment methods in our lives. This statistic is a crucial piece of information for anyone interested in the digital payment landscape, as it provides a glimpse into the future of digital payments and the potential opportunities they present.
Digital Payment Statistics Overview
In 2019, mobile wallet transactions reached a value of $6.1 trillion.
This statistic is a testament to the growing popularity of mobile wallets as a payment method. It shows that more and more people are turning to digital payments, and that the value of these transactions is increasing. This is an important indicator of the changing landscape of digital payments, and it is a trend that is likely to continue in the future.
The digital payments market is expected to grow at a CAGR of 13.7% from 2021 to 2028.
This statistic is a testament to the potential of the digital payments market, indicating that it is set to experience a significant growth in the coming years. This is an important point to consider when discussing digital payment statistics, as it provides insight into the future of the industry and the opportunities it presents.
Approximately 75% of internet users worldwide made a purchase via mobile devices in 2019.
This statistic is a powerful indicator of the growing trend of mobile commerce. It demonstrates that the majority of internet users are now comfortable with making purchases via their mobile devices, which is a testament to the convenience and security of digital payments. This statistic is especially relevant to a blog post about digital payment statistics, as it highlights the importance of mobile payments in the modern digital economy.
During the COVID-19 pandemic, the number of new digital wallet users in India increased by 115 million in 2020.
This statistic is a testament to the power of digital payments in India during the COVID-19 pandemic. It shows that despite the economic downturn, people have embraced digital payments as a safe and convenient way to make payments. This is a clear indication that digital payments are here to stay and will continue to grow in the future. It is also a sign that digital payments are becoming increasingly popular in India, which is a positive development for the country’s economy.
The global digital remittance market is expected to be valued at $168 billion by 2025.
This statistic is a testament to the immense potential of digital remittance in the global market. It highlights the fact that digital payments are becoming increasingly popular and are expected to be a major source of revenue in the near future. This is an important statistic to consider when discussing digital payment statistics, as it provides insight into the growth of this sector and the potential for further expansion.
The number of non-cash transactions is expected to exceed 1 trillion by 2022, with digital payments playing a significant role.
This statistic is a testament to the growing importance of digital payments in our lives. It highlights the fact that digital payments are becoming increasingly popular and are set to become the primary form of payment in the near future. This is a trend that is likely to have a major impact on the way we conduct business and make payments, and it is something that should be taken seriously.
An estimated 100 million new consumers will adopt digital payments annually between 2020 and 2023.
This statistic is a testament to the growing popularity of digital payments, indicating that an impressive number of people are expected to join the digital payments revolution in the next few years. It is a clear indication that digital payments are becoming increasingly commonplace, and that the trend is only set to continue. This is an important statistic to consider when discussing digital payment statistics, as it shows the potential for digital payments to become a major part of the global economy.
In 2020, about 47% of people used digital payments in the USA.
This statistic is a telling indication of the growing prevalence of digital payments in the USA. It demonstrates that digital payments are becoming increasingly popular, and that more and more people are turning to digital payment methods for their transactions. This is an important trend to note in a blog post about digital payment statistics, as it provides insight into the current state of digital payments in the USA.
North America represents 30% of the world’s total digital payments market.
This statistic is significant in the context of digital payment statistics as it highlights the importance of North America in the global digital payments market. It demonstrates that North America is a major player in the digital payments industry, and that its influence is far-reaching. This statistic is a reminder that North America is a key market for digital payments, and that businesses should be aware of the opportunities and challenges that come with operating in this region.
In Asia, around 48% of people used digital payment services in 2020.
This statistic is a telling indication of the growing prevalence of digital payment services in Asia. It demonstrates that digital payment services are becoming increasingly popular in the region, and that more and more people are turning to them as a convenient and secure way to make payments. This is an important trend to note, as it has the potential to revolutionize the way people make payments in the region.
Digital payments in Europe reached 706 billion transactions in 2020.
This statistic is a testament to the growing prevalence of digital payments in Europe. It highlights the increasing demand for digital payment solutions, and the potential for further growth in the industry. It also serves as a reminder of the importance of staying up-to-date with the latest digital payment trends and technologies in order to remain competitive.
Mobile wallet users in China reached 890 million in 2020.
This statistic is a testament to the immense growth of digital payments in China, highlighting the fact that mobile wallet users have more than doubled in the past few years. It is a clear indication that digital payments are becoming increasingly popular in the country, and this trend is likely to continue in the future. This statistic is an important one to consider when discussing digital payment statistics, as it provides a valuable insight into the current state of the industry in China.
In 2020, digital payments in Latin America surpassed $200 billion in transaction value.
This statistic is a testament to the incredible growth of digital payments in Latin America, demonstrating the region’s commitment to embracing digital payment technology. It is a clear indication that digital payments are becoming increasingly popular in Latin America, and this trend is likely to continue in the future. This statistic is an important one to consider when discussing digital payment statistics, as it provides insight into the current state of digital payments in the region.
Around 69% of consumers prefer to use digital payments over cash due to COVID-19 fears.
This statistic is a powerful indicator of the impact that COVID-19 has had on consumer behavior. It demonstrates that the pandemic has caused a dramatic shift in the way people are choosing to pay for goods and services, with a clear preference for digital payments over cash. This statistic is an important piece of information for anyone looking to understand the current state of digital payments and the potential for further growth in the industry.
Digital payments in Africa grew by 739% between 2012 and 2020.
This statistic is a testament to the incredible growth of digital payments in Africa over the past eight years. It highlights the potential of digital payments to revolutionize the way people in Africa access and use money, and the potential for digital payments to drive economic growth and development in the region. It is a powerful reminder of the importance of digital payments in Africa and the need to continue to invest in and promote digital payment solutions.
The global digital payments market is expected to reach $221 billion by 2026.
This statistic is a testament to the growing importance of digital payments in the global economy. As the digital payments market continues to expand, it is clear that digital payments are becoming increasingly integral to the way we conduct business and make purchases. This statistic serves as a reminder of the potential of digital payments and the need to stay informed about the latest developments in the industry.
Conclusion
The statistics presented in this blog post demonstrate the rapid growth of digital payments worldwide. From 2015 to 2020, global transactions are predicted to increase from 433 billion to 726 billion and mobile wallet transactions have already reached a value of $6.1 trillion in 2019. Furthermore, it is estimated that 100 million new consumers will adopt digital payments annually between 2020 and 2023 while 69% of consumers prefer using them over cash due to COVID-19 fears. The market for digital payment services is expected to grow at a CAGR of 13.7%, reaching an estimated value of $221 billion by 2026 with North America representing 30% and Asia 48%. It’s clear that the future lies in digital payments as they become increasingly popular across all regions around the world – making our lives easier than ever before.
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