Digital Payment Services Market Intelligence

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Subscription Benefits:

  • PRO access to New Beroe LiVE*
  • Unlimited updates on the Report*
  • Supplier Watchlist for 3 suppliers*
  • Supplier Shortlisting Tool*

With this purchase you will be subscribed for a 12-month PRO membership to the upcoming all new Beroe LiVE (launching in Q3, 2020)

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*These features will be unlocked on the new Beroe LiVE when it launches (Q3, 2020)

Are you looking for answers on Digital Payment Services category?

Are you looking for answers on Digital Payment Services category?

  • What are the key trends in Digital Payment Services category?
  • Am I paying the right price?
  • Am I working with the right supplier?
  • What are the major challenges and risks in Digital Payment Services industry?
  • How is Digital Payment Services industry performing?

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Report Coverage

  1. Market Analysis
  2. Mobile Wallets Market Information
  3. Case Studies
  4. Procurement Best Practices

Production Size

Expected Banks and Fintech partnerships Growth

82 percent

Mobile Payments Usage

92% of the households

US in-person mobile wallet payments 2020

$9.82 billion

M-Commerce Sales in 2020

$101 billion

Table of Contents

  1. Executive Summary
  2. Executive Summary
  1. Covid 19 update
  2. Covid 19 update
  1. Category Overview
  2. Category Overview
  1. Market Analysis
  2. Mobile Wallets Market Information
  1. Case Studies
  2. Case Studies
  1. Procurement Best Practices
  2. Procurement Best Practices

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Digital Payment Services Global Market Outlook:

  • It has been observed that 82 percent of the banking executives expect to increase their fintech partnerships in the next 3-4 years
  • It is expected that fintech will offer banks a speedy way to test and launch innovative services without having to completely their costly IT systems, while banks offer financial capital, an expanded customer base and an imprimatur of greater legitimacy

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

Market Trends:

  • The North American region is projected to be dominant regional market due to the availability of highly advanced infrastructure presence and presence of established market players.

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.

With this purchase you will be subscribed for a 12-month PRO membership to the upcoming all new Beroe LiVE (launching in Q3, 2020)

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Complimentary 12-month access to Beroe LiVE

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