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 to ResearchAndMarkets.com’s offer.

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This report provides a summary of the latest trends and developments in the mobile payments market as well as forecasts of future developments. The publication also revealed that the number of mobile wallets is expected to reach the millions by 2025.

Digital wallets are growing in usage and adoption in the North American region

Witnessing a double-digit CAGR between 2022 and 2026, the value of digital wallet transactions globally is expected to reach a trillion Euros by 2026. Among the most used digital wallets in the US are PayPal, followed by Apple pay, and Venmo. Moreover, close to a third of Americans use this digital wallet to pay for almost all of their online purchases.

Furthermore, by 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 group, digital wallets and mobile payments have the highest frequency of use among Gen Z consumers compared to other age groups. February 2022.

More than half of online merchants at Canada also accepted digital wallet. In addition, more than a third of internet users are adults in Canada it is very or rather convenient to use a mobile or digital wallet as a means of payment.

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Competition is intense among mobile wallet players, with PayPal and Apple paying the rest at the top

As a consumer in North America lean more toward using mobile payments, especially mobile wallets, the competition among existing players strengthens.

The US market is also witnessing an increasing trend to use mobile payments imminently, with Apple pay becoming the most dominant player by 2026.

The number of close mobile payment users mainly using Apple pay is predicted to experience an increase in growth between 2019 and 2026, with the number reaching millions by 2026, this is followed by Starbucks mobile payments, and Google Pay.

Key Questions Answered

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

  • How many mobile wallets are predicted to be used North America by 2025?

  • What types of digital wallets are most commonly used in the US?

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

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

Key topics covered:

1. Management Summary

2. Global Development

  • Online & Mobile Payment Trends, July 2022

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

  • Mobile Payments Market Size, in trillions of USD, 2021 & 2028f

  • Number of B2C E-Commerce Transactions Paid by OEM Mobile Payment Apps, billions, 2022f & 2026f

  • The Most Used Payment Methods When Shopping Online During the Pandemic, in % of Online Shoppers, by Selected Countries, April 2021

  • Biometrically Authenticated Remote Mobile Payment Value, in USD billion, 2022e & 2027f

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

  • Number of Mobile Contactless Transactions, in billions, 2021e & 2023f

  • Proximity Mobile Payment Users Worldwide, millions, and Year-on-Year Change, in %, 2020-2025f

  • Proximity Mobile Payment User Penetration, in % of Smartphone Users, 2020-2025f

  • Number of Mobile Wallet Users, by Region, millions, 2020 & 2025f

  • Proximity Mobile Payments Users in Selected Countries, in % of Smartphone Users, 2021e

  • Payment Methods Accepted by Online Merchants, by Already Accepted and Planned, in % of Online Merchants, February 2022

  • Breaking Down Fraudulent Digital Banking Transactions, by Channel, incl. Mobile Apps, in %, Q3 2019 – Q2 2021

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3. North America

3.1. regional

  • Overview of Online & Mobile Payment Trends, July 2022

  • Number of Mobile Wallets in Use, millions, and YoY Change, in %, 2020-2025f

3.2. United States

  • Mobile P2P Payment Users, in millions, and in % Year-on-Year Change, 2020-2026f

  • Mobile P2P Payment Users, millions, and Penetration, in % of Smartphone Users, 2020-2026f

  • Value of Mobile P2P Payment Transactions, in billion USD, and Year-on-Year Change, in %, 2020-2025f

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

  • Mobile Proximity Payment Spending, per User, in USD, and YoY Change, in %, 2019-2026f

  • Mobile Proximity Payment Transaction Value, in USD billion, and Year-on-Year Change, in %, 2019 – 2026f

  • Breakdown of Digital Wallets Used, in % of Digital Wallet Users, February 2022

  • Use of Credit/Debit Card or Bank Account vs. Digital Wallet as an Online Payment Method, in % of Online Shoppers, January – February 2022

  • Payment Methods Offered at Online Checkout, in % of Online Merchants, October 2021

  • Breakdown of Frequently Used Payment Methods, by Age Group, in % of Adults, February 2022

  • Payment Methods Offered at Online Checkout, in % of Online Merchants, October 2021

  • Payment Methods Used on a Weekly Basis, in % of Customers, April 2020 & April 2021

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3.3. Canada

  • Attitudes Toward Using Digital Wallets & 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

Company Mentione

  • Apple Pay

  • Google Pay

  • PayPal

  • Samsung Pay

  • Starbucks

  • Venmo

For more information on this report visit https://www.researchandmarkets.com/r/2nkcz2

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