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Global Online Payment Methods Analysis Report 2022-2025: Digital Payments Accelerated in Asia-Pacific, with China Being One of the Frontrunners Toward a Cashless Society

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The “Global Online Payment Methods 2022” report has been added to ResearchAndMarkets.com’s offering.

Cards and digital wallets are the most common payment instruments in most regions worldwide

Digital payments in the Asia-Pacific region accelerated, with China being one of the frontrunners toward a cashless society.

Consumers in the North American and Latin American regions still prefer to use credit cards for online shopping in 2022, as per data included in the report, and, in Europe, payments via debit card or credit card were the most preferred methods of payments in multiple countries; however, other European countries differed, exhibiting preferences towards payments via mobile app, Invoice, PayPal, or another form of a digital wallet, and direct bank payment.

In the Middle East and Africa, payment experts expect the transition to digital systems to be sustainable, with a high double-digit percentage of surveyed payment practitioners predicting that at least half of new digital payment users will continue the use of digital payments instead of using cash in the future.

BNPL adoption continues to grow in usage and penetration

The number of Buy Now Pay Later (BNPL) users globally is projected to more than quadruple from 2021 to 2026 and the share of BNPL used in B2C E-Commerce payments is forecasted to increase by 15 p.p. in the same time period, as spelled out in the report.

In North America the BNPL service is gaining momentum, with the number of BNPL users projected to more than triple by 2025 in the U.S. alone. Furthermore, in the APAC region, over three quarters of Australians were aware of the BNPL service and its main market players such as Afterpay and Zip.

Questions Covered in the report:

  • How many mobile wallet users are there in regions worldwide?
  • What are the leading payment methods used when making online purchases in Asia-Pacific?
  • How did online payment preferences differ across countries in Europe in 2021?
  • Which payment methods were most offered by online merchants during online checkout in the U.S. and Canada?
  • Which payment method is likely to be the market leader in the Middle East & Africa by 2025?

Key Topics Covered:

1. Management Summary

2. Global Developments

  • Overview of the Online and Mobile Payment Trends, May 2022
  • Payment Value, by B2C E-Commerce Payments and POS Payments, in USD trillion, 2021 & 2026f
  • Share of Cash Payments, in % of Total POS Transaction Value, by Region, 2021 & 2025f
  • Value of Contactless Card Transactions, in USD trillion, 2020 & 2021e
  • Share of Contactless Card Transactions, in % of Overall Contactless Transaction Value, 2021e
  • BNPL B2C E-Commerce Sales, in USD billion, 2021e & 2026f
  • Number of BNPL Users, in millions, 2021e & 2026f
  • BNPL Share of B2C E-Commerce Payments, in %, 2021e & 2026f
  • Value of Digital Wallet Transactions, in USD trillion, 2022f & 2026f
  • Number of B2C E-Commerce Transactions Paid by OEM Mobile Payment Apps, in billions, 2022f & 2026f
  • Number of Mobile Wallet Users, by Region, in millions, 2020 & 2025f
  • Proximity Mobile Payment Users Worldwide, in millions, and Year-on-Year Change, in %, 2020-2025f
  • Proximity Mobile Payment User Penetration, in % of Smartphone Users, 2020-2025f
  • Proximity Mobile Payment User Penetration, in % of Smartphone Users, 2021e
  • Payment Methods Accepted by Online Merchants, by Already Accepted and Planned, in % of Online Merchants, February 2022
  • Factors Influencing Store Purchasing Choice, Excluding Digital Payments, in % of Consumers, December 2021
  • Areas for Growth According to Small Businesses, in % of Small Businesses, December 2021
  • Share of Consumers and Small Businesses Planning to Use Digital Payment Methods Exclusively Within the Next Two Years, in %, December 2021
  • Cryptocurrency Payment Value, in USD billion, 2018-2023f

3. Asia-Pacific

3.1. Regional

  • Overview of the Online and Mobile Payment Trends, July 2022
  • Card Payment Value, in USD trillion, and Year-On-Year Change, in %, 2019-2025f
  • Breakdown of Payment Methods Used in B2C E-Commerce, in %, 2021

3.2. Advanced Markets
3.2.1. Japan
3.2.2. South Korea
3.2.3. Australia
3.2.4. New Zealand
3.2.5. Singapore
3.3. Emerging Markets
3.3.1. China
3.3.2. Taiwan
3.3.3. Hong Kong
3.3.4. India
3.3.5. Indonesia
3.3.6. Thailand
3.3.7. Vietnam
3.3.8. Malaysia
3.3.9. Philippines

4. Europe

4.1. Regional

  • Online & Mobile Payment Trends, June 2022
  • Breakdown of Payment Methods Preferred in B2C E-Commerce, in % of Online Shoppers, by Selected Countries, November 2021
  • Share of Payment Methods Used In-store in the Past 12 Months, in % of Consumers, July 2021
  • Breakdown of Preferred Electronic Payment Methods for In-store Purchases, in % of Consumers, July 2021
  • Breakdown of Preferred Electronic Payment Methods for In-store Purchases, in % of Consumers, by Generation, July 2021
  • Share of Consumers Who Would Support the Mandatory Acceptance of Digital Payments, in %, July 2021
  • Share of Merchants Who Prefer Accepting Electronic Payments Over Cash, in %, July 2021
  • Attitudes Towards Saving Card Details in Online Stores, in % of Internet Users, by Selected Countries, 2021
  • Breakdown of Intention of B2C and B2B Marketplaces to Launch Embedded Payment Services, in % of Decision Makers, July 2021
  • Perceived Advantages of Embedded Payment Services, by Very Appealing and Appealing, in % of Decision-Makers from B2C and B2B Marketplaces, July 2021

4.2. Advanced Markets
4.2.1. UK
4.2.2. Germany
4.2.3. France
4.2.4. Spain
4.2.5. Italy
4.2.6. Netherlands
4.2.7. Switzerland
4.2.8. Sweden
4.2.9. Belgium
4.2.10Norway
4.2.11Denmark
4.2.12Finland
4.2.13Austria
4.3. Emerging Markets
4.3.1. Russia
4.3.2. Poland
4.3.3. Turkey
4.3.4. Czech Republic
4.3.5. Portugal
4.3.6. Romania
4.3.7. Hungary
4.3.8. Ukraine
4.3.9. Bulgaria
4.3.10Croatia

5. North America

5.1. Regional
5.2. USA
5.3. Canada

6. Latin America

6.1. Regional

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  • Online & Mobile Payment Trends, May 2022
  • Breakdown of Total E-Commerce Sales by Payment Methods, in %, 2021e
  • E-Commerce Payment Volume, by Payment Method, in USD billion, and Year-on-Year E-Commerce Payment Method Growth, in %, 2021e
  • Card Ownership in Select Countries, by Card Type, in % of Banked Internet User Population, 2020 & 2021
  • Number of Digital-Only Banks, 2012 – 2021e
  • Number of Neobank Customers, in millions, 2016 – 2021e

6.2. Brazil
6.3. Mexico
6.4. Argentina
6.5. Colombia
6.6. Chile
6.7. Peru
6.8. Dominican Republic

7. Middle East & Africa

7.1. Regional

  • Online & Mobile Payment Trends, June 2022
  • Most Preferred Payment Methods by 2025, in % of Respondents, 2020
  • Payment Method Likely To Be Market Leader by 2025, in % of Respondents, 2020
  • Banks’ Innovation Methods, in % of Banking Executives, March 2021
  • Banks’ Priorities by 2026, in % of Banking Executives, March 2021
  • How Banks View Their Digital Business Evolvement by 2023, in % of Banking Executives, March 2021
  • Trends To Have The Biggest Impact on Banks by 2025, in % of Banking Executives, March 2021
  • Overview of Selected Leading FinTech Startups in the Payments Sector, incl. Company Name, Solution, Funding, Country and Year Established, December 2021
  • Overview of Mobile Money Statistics in Africa, incl. Number of Live Services, Registered Accounts, in millions, Active Accounts, in millions, Transaction Volume in millions, and Transaction Value, in USD billion, and Year-on-Year Growth, in %, by Sub-Region, 2021
  • Total Investment Raised by African FinTechs, in USD million, 2020 & 2021
  • Overview of Selected Major FinTech Funding Rounds in Africa, by Country, 2021

7.2. UAE
7.3. Saudi Arabia
7.4. Israel
7.5. Jordan
7.6. Oman
7.7. South Africa
7.8. Egypt
7.9. Nigeria
7.10. Morocco
7.11. Kenya
7.12. Tunisia

Companies Mentioned

  • Affirm
  • Afterpay
  • AliPay
  • American Express
  • Apple Pay
  • Argos Store Card
  • BitOasis
  • Capital one
  • Chipper Chash
  • Clearpay
  • D Pay
  • Dana
  • FamiPay
  • Flutterwave
  • GoPay
  • Jumo
  • Klarna
  • Laybuy
  • Legal and general
  • LINE Pay
  • Lucky
  • Maestro
  • Mastercard
  • Merpay
  • MTN-Halan
  • Openpay
  • OVO
  • Palmpay
  • Payl8r
  • Paypal
  • Paysafe
  • PayTabs
  • Perpay
  • PIX
  • Postpay
  • Quadpay
  • QuicPay
  • Rakuten pay
  • ServiPag
  • Similar
  • Sizzle
  • Starbucks
  • Tabby
  • Tala
  • Tamara
  • Tymebank
  • Venmo
  • Visa
  • Wave
  • WearOS
  • WeChat pay
  • Yucho Pay
  • Zip
  • Zlich

For more information about this report visit https://www.researchandmarkets.com/r/cnbdc0

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Fintech Pulse: Daily Industry Brief – A Dive into Today’s Emerging Trends and Innovations

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The fintech landscape continues to redefine itself, driven by innovation, partnerships, and groundbreaking strategies. Today’s roundup focuses on the latest digital wallet offerings, evolving payment trends, strategic collaborations, and notable funding achievements. This editorial explores the broader implications of these developments, casting light on how they shape the future of fintech and beyond.


Beacon’s Digital Wallet for Immigrants: A Gateway to Financial Inclusion

Beacon Financial, a leading player in financial technology, recently launched a digital wallet tailored to meet the unique needs of immigrants moving to Canada. This offering bridges a critical gap, enabling seamless financial integration for newcomers navigating a foreign system.

By combining intuitive technology with user-centric features, Beacon aims to empower immigrants with tools for payments, savings, and remittances. This aligns with the growing demand for tailored financial products that resonate with specific demographics.

Op-Ed Insight:
Financial inclusion is more than just a buzzword; it’s a moral imperative in the fintech space. Products like Beacon’s digital wallet highlight the industry’s potential to create tangible change. As global migration trends increase, such offerings could inspire similar initiatives worldwide.

Source: Fintech Futures.


Juniper Research Highlights 2025’s Payment Trends

Juniper Research’s latest report unveils pivotal payment trends poised to dominate in 2025. Central themes include the adoption of instant payment networks, a surge in embedded finance solutions, and the rise of crypto-backed financial products.

The research underscores the rapid adoption of real-time payment systems, fueled by increasing consumer demand for speed and efficiency. Meanwhile, embedded finance promises to blur the lines between traditional banking and non-financial services, delivering personalized and context-specific solutions.

Op-Ed Insight:
As the lines between financial services and technology continue to blur, these trends emphasize the industry’s shift toward convenience and personalization. The growing role of crypto-based solutions reflects an evolving consumer mindset, where decentralization and digital-first experiences gain precedence.

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Source: Juniper Research.


MeaWallet and Integrated Finance Partner to Revolutionize Digital Wallets

MeaWallet, a prominent fintech solutions provider, has partnered with Integrated Finance to advance digital wallet capabilities and secure card data access for fintech companies. This collaboration focuses on empowering fintechs to deliver better, safer digital payment experiences.

MeaWallet’s role as a technology enabler aligns seamlessly with Integrated Finance’s goal of simplifying complex financial infrastructures. Together, they aim to create scalable, robust platforms for secure payment solutions.

Op-Ed Insight:
Partnerships like this underscore the importance of collaboration in driving innovation. As security concerns grow in tandem with digital payment adoption, solutions addressing these challenges are essential for maintaining consumer trust. The fintech ecosystem thrives when synergy and innovation coalesce.

Source: MeaWallet News.


Nucleus Security Among Deloitte’s Fastest-Growing Companies

Nucleus Security has achieved a remarkable milestone, ranking 85th on Deloitte’s 2024 Technology Fast 500 list. This achievement is attributed to its robust cybersecurity solutions, which cater to the increasingly digital fintech environment.

With cyberattacks becoming more sophisticated, fintech companies are under immense pressure to safeguard their platforms. Nucleus Security’s growth reflects the rising demand for comprehensive, scalable security solutions that protect sensitive financial data.

Op-Ed Insight:
In a digital-first world, robust cybersecurity isn’t optional—it’s fundamental. The recognition of companies like Nucleus Security signals the growing importance of protecting fintech infrastructure as the industry scales globally.

Source: PR Newswire.


OpenYield Secures Funding to Transform the Bond Market

OpenYield has announced a successful funding round, aiming to revolutionize the bond market through innovative technology. The platform promises greater transparency, efficiency, and accessibility in fixed-income investments.

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This funding underscores the growing appetite for digitizing traditionally opaque financial markets. By leveraging cutting-edge technology, OpenYield seeks to democratize bond investments, making them accessible to a broader audience.

Op-Ed Insight:
The bond market, long viewed as complex and inaccessible, is ripe for disruption. OpenYield’s efforts to modernize this space highlight fintech’s transformative potential to democratize finance and empower individual investors.

Source: PR Newswire.


Key Takeaways: Shaping the Future of Fintech

Today’s developments underscore several critical themes in the fintech landscape:

  1. Personalization and Inclusion: Products like Beacon’s wallet highlight the importance of understanding and addressing specific user needs.
  2. Collaborative Ecosystems: Partnerships, like that of MeaWallet and Integrated Finance, emphasize the power of collaboration in solving industry challenges.
  3. Emerging Technologies: Juniper Research’s predictions affirm the continued influence of blockchain, embedded finance, and instant payment networks.
  4. Security at the Core: The recognition of Nucleus Security underscores the essential role of cybersecurity in fintech.
  5. Market Transformation: OpenYield’s funding signifies the ongoing disruption of traditional financial markets, paving the way for broader accessibility.

 

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Fintech Pulse: Industry Updates, Innovations, and Strategic Moves

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As fintech continues to reshape the global financial landscape, today’s briefing highlights pivotal developments, strategic expansions, and innovative launches across the industry. This op-ed explores the latest advancements with commentary on their potential impacts and challenges.


Finastra Data Breach: A Wake-Up Call for Fintech Security

Source: KrebsOnSecurity

The cybersecurity landscape is buzzing after Finastra, one of the largest financial technology providers globally, confirmed an investigation into a potential data breach. Reports suggest unauthorized access to its systems, raising concerns about data security across its client base, which includes thousands of banks and financial institutions worldwide.

Implications and Challenges

While the details of the breach remain sparse, this incident underscores a glaring vulnerability in the fintech sector—cybersecurity. As financial services increasingly rely on interconnected ecosystems, breaches like these threaten not only individual institutions but also the trust customers place in fintech platforms.

The key takeaway for the fintech industry is clear: proactive cybersecurity strategies must go beyond compliance. Real-time threat detection, robust encryption standards, and regular audits are no longer optional but essential for maintaining operational integrity.

Future Considerations

This breach could trigger a domino effect, prompting regulators to tighten security standards and requiring fintech companies to double down on investments in data protection. Startups and mid-tier players, often lacking extensive cybersecurity budgets, may face significant pressure to keep pace.


PayPal Resurrects Money Pooling Feature

Source: TechCrunch

In a bid to stay ahead of the competition, PayPal is reintroducing its Money Pooling feature, a popular tool that was discontinued in 2021. The feature allows users to pool funds collectively, catering to families, small businesses, and social groups.

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Strategic Revival

This move reflects PayPal’s commitment to customer-centric innovation. By reinstating a feature beloved by its user base, the company seeks to reclaim market share lost to emerging competitors offering similar functionalities.

Broader Industry Impacts

Money pooling represents a broader trend in fintech—customized solutions that cater to niche needs. This reintroduction may inspire competitors like Venmo and CashApp to refine their collaborative payment offerings.

While this move strengthens PayPal’s ecosystem, its success will depend on seamless integration with existing services and robust fraud prevention mechanisms to avoid abuse of the feature.


Santander Expands Fintech Reach in Mexico

Source: Yahoo Finance

Santander is making waves in the Latin American fintech space with the launch of a dedicated fintech unit in Mexico. The initiative aims to capitalize on Mexico’s growing fintech adoption and digital payments market, valued at billions of dollars annually.

Strategic Significance

Santander’s expansion into Mexico highlights the region’s untapped potential. Latin America is a burgeoning market for fintech, driven by increasing smartphone penetration, a youthful demographic, and demand for accessible financial services.

Challenges on the Horizon

While Mexico offers immense opportunities, regulatory complexities and market competition from local players like Clip and Konfío pose significant challenges. Santander will need to blend its global expertise with local adaptability to succeed in this dynamic market.


2024 Global Fintech Awards: Spotlighting Excellence

Source: PRNewswire

Benzinga has announced the winners of the 2024 Global Fintech Awards, honoring companies and individuals driving innovation in financial technology. This year’s winners spanned categories like blockchain, artificial intelligence, and payment solutions.

Recognizing Industry Leaders

Awards like these highlight the collaborative spirit and entrepreneurial drive fueling fintech growth. Recognizing trailblazers not only motivates incumbents but also inspires startups to push the boundaries of innovation.

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What It Means for the Ecosystem

The awards also bring attention to emerging technologies. Categories such as blockchain and AI signal the industry’s continued focus on leveraging cutting-edge tech for efficiency and scalability.


Commonwealth Central Credit Union Partners with Jack Henry

Source: FinTech Futures

Commonwealth Central Credit Union (CCCU) has announced a partnership with Jack Henry, a leading financial technology provider, for a comprehensive tech upgrade. The collaboration focuses on enhancing member experience through improved digital services.

Modernizing Member Experiences

Credit unions have often lagged behind major banks in adopting advanced digital solutions. By partnering with Jack Henry, CCCU aims to bridge this gap, offering members streamlined services such as mobile banking, automated lending, and personalized financial tools.

A Growing Trend

This partnership reflects a broader trend in the financial industry—credit unions and smaller banks embracing fintech to remain competitive. As customer expectations evolve, partnerships like this may become the norm rather than the exception.


Key Takeaways for the Fintech Industry

  1. Cybersecurity is Critical: The Finastra breach underscores the need for robust security measures.
  2. Innovation Drives Loyalty: PayPal’s revival of its Money Pooling feature highlights the importance of listening to customers.
  3. Regional Opportunities: Santander’s expansion into Mexico showcases the untapped potential of emerging markets.
  4. Recognition Matters: Awards like Benzinga’s provide valuable visibility for companies and individuals shaping the industry.
  5. Partnerships Foster Growth: Collaborations between credit unions and fintech companies signify a trend towards modernized financial solutions.

 

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Fintech Pulse: Milestones, Partnerships, and Transformations in Fintech

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The fintech sector continues its relentless drive toward innovation and market dominance. Today’s highlights include a record-breaking customer milestone for Revolut, groundbreaking fintech solutions for women in the EU, open entries for the PayTech Awards 2025, implications of political shifts on funding, and notable recognition at the US FinTech Awards.

Revolut Hits 50 Million Customers: A Global Fintech Giant’s Milestone

Source: Revolut

Revolut, the UK-based financial super app, has achieved a monumental feat: surpassing 50 million customers worldwide. This milestone underscores its position as a leader in the global fintech landscape, furthering its ambition to create the world’s first truly global bank.

Key to this success has been Revolut’s strategy of expanding its offerings, from banking to travel and crypto services, all within a seamless user experience. The company’s recent ventures into emerging markets such as Latin America and Asia demonstrate its intent to bridge financial services gaps while retaining competitive differentiation through technology.

This milestone is not just a triumph for Revolut but a signal of fintech’s capacity to redefine traditional banking. It reinforces the narrative that digital-first strategies, customer-centric innovation, and international scalability can challenge long-standing financial institutions.

PayTech Awards 2025: Celebrating Excellence in Innovation

Source: FinTech Futures

The PayTech Awards 2025 are officially open for entries, promising to spotlight the brightest minds and most innovative projects in the payment technology sector. These awards are a testament to the industry’s commitment to advancing secure, seamless, and scalable payment systems.

This year, the focus is on emerging technologies that redefine how businesses and consumers interact financially. Categories will recognize achievements across multiple domains, including sustainability in payments, AI-driven solutions, and partnerships that push boundaries.

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As fintech companies prepare their entries, the awards provide a timely reminder of the sector’s ongoing evolution and the collaborative efforts required to achieve meaningful breakthroughs.

U.S. Politics and the Fintech Sector: A New Era of Funding?

Source: American Banker

The U.S. fintech sector might witness an infusion of optimism as speculation about a second Trump presidency gains momentum. The Trump-era policies of deregulation and venture capital encouragement are remembered as catalysts for unprecedented fintech growth during his first term.

While it remains uncertain how regulatory landscapes will shift, the possibility of a more relaxed approach toward fintech compliance could rejuvenate funding inflows. Investors and startups alike are watching closely, weighing the potential benefits against long-term risks tied to reduced oversight.

A politically charged backdrop often spells volatility, but for fintech, it may also spell opportunity. Preparing to adapt quickly will be crucial for startups and established players in the face of any regulatory pivot.

Klara AI and Unlimit: Addressing the €1.3 Trillion Female Economy

Source: FF News

Klara AI has teamed up with Unlimit to launch a fintech solution aimed at empowering women across the EU. This collaboration targets the €1.3 trillion female economy by addressing the unique financial needs of women entrepreneurs and consumers.

The solution promises to integrate AI-powered tools with streamlined financial management services, enabling users to access credit, manage investments, and scale businesses effectively. By tailoring services to the underserved female demographic, the partnership hopes to drive financial inclusion and support economic growth.

This initiative stands as a blueprint for fintechs exploring niche markets, proving that innovation tailored to specific segments can yield transformative results.

Autire: Accounting Tech of the Year at US FinTech Awards

Source: Business Wire

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Autire, a rising star in financial technology, has been crowned ‘Accounting Tech of the Year’ at the US FinTech Awards 2024. The award recognizes Autire’s ability to blend cutting-edge AI with intuitive user interfaces, delivering unparalleled accounting solutions for businesses of all sizes.

Autire’s platform has gained traction for automating complex accounting tasks, ensuring compliance, and delivering actionable insights through real-time analytics. Its emphasis on reducing administrative burdens for SMEs has been particularly impactful, enabling entrepreneurs to focus on growth rather than bookkeeping.

The recognition not only cements Autire’s reputation but also highlights the role of AI-driven accounting solutions in reshaping business operations globally.

Final Thoughts: A Fintech Revolution in Full Swing

From customer milestones to policy-driven opportunities, the fintech ecosystem is in constant evolution. Revolut’s ascent to 50 million users signals growing consumer trust in digital platforms. The PayTech Awards continue to inspire innovation, while political shifts could redefine the regulatory landscape. Initiatives like Klara AI and Unlimit emphasize the power of targeted solutions, and companies like Autire show how niche technologies can achieve broad impact.

The next phase of fintech growth will likely hinge on inclusivity, adaptability, and innovation—pillars that today’s news stories exemplify.

 

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