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

DUBLIN, Nov. 18, 2022 /PRNewswire/ — The “North America Mobile Payment Methods 2022” report has been added to ResearchAndMarkets.com’s to give.

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This report provides an overview of current and recent trends in the mobile payments market and future forecasts. The book also shows that the number of mobile wallets is expected to reach millions by 2025.

Digital wallets are increasingly being used and adopted across North America

Witnessing a double-digit CAGR between 2022 and 2026, the value of digital money transactions worldwide is expected to reach billions of Euros by 2026. Some of the most used digital wallets in the US were PayPal, followed by Apple pay, and Venmo. Also, nearly a third of Americans have used these digital wallets to pay for almost all of their online purchases.

In addition, in 2021, more than half of online retailers will offer mobile payments and two-thirds of digital wallet payments at checkout. In terms of age groups, digital wallets and mobile payments were the most used among Gen Z consumers compared to other generation groups February 2022.

More than half of online retailers Canada they also received digital wallets. In addition, more than one-third of Internet users are adults Canada they were comfortable using mobile or digital wallets as a payment method.

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Competition is intensifying among mobile wallet players, with PayPal and Apple charging the upper hand

As consumers in North America leaning more towards the use of mobile payments especially mobile wallets, competition among existing players is intensifying.

The US market is also witnessing an increase in the use of mobile payments, with Apple Pay the dominant player by 2026.

The number of mobile payers using Apple pay is expected to increase between 2019 and 2026, reaching several million by 2026, followed by Starbucks mobile payments, and Google Pay.

Answering Important Questions

  • The most common payment methods offered by online retailers North America?

  • How many wallets are expected to be used North America in 2025?

  • What are the most commonly used digital technologies in the US?

  • What payment methods did online merchants offer the most for exiting the US?

  • How many P2P mobile phone providers have been predicted Canada in 2025?

Key Topics Covered:

1. Management Summary

2. International Events

  • Online & Mobile Payment Methods, July 2022

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

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

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

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

  • Value of Remote Biometrically Authenticated Payments, in USD billion, 2022e & 2027f

  • Volume of Biometrically Authenticated Remote Payments, billions, 2022e & 2027f

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

  • Global Payphone Users, millions, and Year-on-Year Change, in %, 2020-2025f

  • Penetration of Proximity Mobile Users, in % of Current Mobile Users, 2020-2025f

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

  • Users of Local Mobile Payments in Selected Countries, in % of Current Mobile Users, 2021e

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

  • Damage to Digital Banking Fraudulent Transactions, by Channel, incl. Mobile App, in %, Q3 2019 – Q2 2021

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3. North America

3.1. Regional

  • Overview of Online & Mobile Payment Methods, July 2022

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

3.2. USA

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

  • P2P Payment Users, Millions, and Penetration, in % of Current Mobile Users, 2020-2026f

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

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

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

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

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

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

  • Payment Methods Offered in Online Outbound, in % of Online Sellers, October 2021

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

  • Payment Methods Offered in Online Outbound, in % of Online Sellers, October 2021

  • Payment Methods Used Weekly, in % of Buyers, April 2020 & April 2021

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3.3. Canada

  • Opinions on the Use of Digital Wallets & Payment Services, in % of Major Internet Users, March 2021

  • Number of P2P Payment Users, millions, and Year-on-Year Change, in %, 2019-2025f

  • Number of P2P Payment Users, millions, and Share, in % of Population, 2019-2025f

Companies Named

  • 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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