92% of the households
Category Intelligence on Digital Payment Services covers the following
Impact of COVID-19:
It has been observed that digital payments’ volume declines globally are seen in airlines, tourism, hotels, entertainment, e-commerce (non-essentials) and restaurants among other sectors
Cross border payments, be they B2B or C2B, have significantly declined owning to temporary shutting down of borders Outlook further, resulting in restricted movement of goods. International remittances have been affected and have reduced
Proximity mobile payment services: As of 2020, about 15.85 percent of smartphone users in the US were actively using proximity mobile payment services.
Awareness: 55 percent of North Americans are “extremely aware” of mobile payments but only 22 percent use them on a regular basis.
Largest Adopters: Millennials and higher-income households lead the pack, with 28 percent and 42 percent using contactless payments at least once a week, respectively.
Usage: Nearly 33 percent shoppers are already using a mobile wallet and 66 percent of those who don’t say, expect to start using one within a year.
Credit Card Networks: All of the major credit card networks in the US participate in at least one mobile wallet solution.
Most Common Method: The most common mobile in-store mobile payment method was barcode or QR code scanning and a further 15 percent had waved or tapped their mobile phone to pay at check out.
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COVID-19: Assess impact on your suppliers and ensure business continuity with Beroe’s WIRE
(World Instant Risk Exposure)