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Global Digital Payment Forecasts 2023-2027

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    Report

  • 94 Pages
  • September 2023
  • Region: Global
  • yStats GmbH & Co. KG
  • ID: 4775830

Real-time payment volume in Asia-Pacific is set to sevenfold from 2022 to 2027

This publication provides insights into the future trends of the global digital payment market. Among other findings, the publication reveals that real-time payments are experiencing a surge in popularity worldwide, with Egypt forecasted to experience one of the highest growth rates between 2022 and 2027.

By 2026, the volume of non-cash transactions worldwide is projected to nearly double

The global online payments industry has been significantly influenced by the COVID-19 global health crisis in recent years, resulting in substantial advancements in the market. The rate of adoption of cashless payments has accelerated dramatically and is expected to continue growing post-pandemic, as highlighted by the analyst. In fact, global cashless transactions are forecasted to grow at a Compound Annual Growth Rate (CAGR) of over 16% from 2023 to 2026, surpassing 2 trillion non-cash transactions. Asia-Pacific is expected to contribute the highest value, followed by Europe and North America by 2026.

Latin America and the Middle East are expected to experience the highest growth in real-time payments

The use of digital payments is continually on the rise worldwide, with more individuals choosing to move away from cash usage. Consequently, real-time payments are gaining popularity globally. In 2022, the Middle East, Africa, and Southeast Asia region recorded the highest volume of real-time payments, just below 100 billion transactions, followed by Asia-Pacific and Latin America, as indicated in the new publication. These three regions are projected to remain in the top three, with Asia-Pacific surpassing the Middle East, Africa, and South Asia by 2027. Egypt is expected to be one of the countries with the highest real-time payment transaction volume growth, displaying a triple-digit Compound Annual Growth Rate (CAGR) between 2022 and 2027, reaching close to one billion transactions. Furthermore, the share of real-time payments in total electronic payments is currently and is expected to remain the highest in Middle East, Africa, and South Asia, reaching almost 80% in 2027.

Countries Covered

  • Argentina
  • Brazil
  • Canada
  • Chile
  • China
  • Colombia
  • Egypt
  • France
  • Germany
  • India
  • Indonesia
  • Italy
  • Japan
  • Mexico
  • Nigeria
  • Philippines
  • Russia
  • Saudi Arabia
  • Singapore
  • South Korea
  • UAE
  • United Kingdom
  • USA

Key Questions Covered in the Report

  • What is the size of the global digital payments market in 2023 and how is it projected to grow through 2030?
  • How high is the non-cash transaction volume in different regions globally and how is it projected to change by 2026?
  • How many adults in China will use digital wallets daily in 2022?
  • By how much will the real-time payments volume grow by 2027 in different regions and countries worldwide?
  • How much will real-time payments make up of total electronic payments across the global regions by 2027?
Please note: For this report, the purchase of an Enterprise licence allows up to ten worldwide users of an organization access to the report.

Table of Contents


1. Management Summary
2. Global Developments
  • Non-Cash Transaction Volume, by Regions, in billions, and Y-o-Y Change of Global, in %, 2020 - 2025f
  • B2B Non-Cash Transaction Volume, by Regions, in billions, and Y-o-Y Change of Global, in %, 2019 - 2025f
  • Number of Mobile Contactless Transactions, in billions, 2021e & 2023f
  • Number of Cashless Transactions, in billions, CAGR, in %, 2020, 2025f & 2030f
  • Proximity Mobile Payment Users in Select Countries, in % of Smartphone Users, 2021e
3. Asia-Pacific
3.1. Regional
  • Number of Mobile Wallet Users, in billions, 2020 & 2025f
  • Mobile Wallet Transaction Value, in USD trillion, and Volume, in billions, 2020 & 2025f
  • Number of Mobile Wallets in Use, in millions, and Year-on-Year Change, in %, 2020 - 2025f
  • Breakdown of Payment Channels, incl. Cash, Cards, A2A and E-Wallet, in % of Total Gross Transaction Value, 2019 - 2021e & 2025f
  • Number of Mobile Wallets in Use, in millions, and Year-on-Year Change, in %, 2020 - 2025f
3.2. China
  • Number of Proximity Mobile Payment Users, in millions, and Year-on-Year Change, in %, 2019 - 2025f
  • Number of Proximity Mobile Payment Users, in millions, and Share, in % of Population, 2019 - 2025f
  • Third-Party Payment Value, by Mobile & Online, in CNY trillion, 2018 - 2025f
  • Mobile Wallet Transaction Value, in USD trillion, and Volume, in billions, 2020 & 2025f
  • Mobile Wallet User Penetration, in % of Population, 2020 & 2025f
3.3. Japan
  • Smart Payment Transaction Value, by Credit/Debit/Prepaid Card & Electronic Money, in JPY trillion, 2019 - 2026f
  • QR Code Payment Value, in JPY billion, Year-on-Year Change, in %, FY 2019 - FY 2024f
  • Top Payment Methods, in % of Adults, September 2021
3.4. South Korea
  • Mobile Wallet Transaction Value, in USD billion, and Volume, in billions, 2020 & 2025f
  • Mobile Wallet User Penetration, in % of Population, 2020 & 2025f
3.5. India
  • Digital Transaction Value, in INR trillion, and Volume, in billions, and Y-o-Y Change, in %, 2018 - 2025f
  • Mobile Payments Value, in INR trillion, and CAGR, in%, by Pre- & Post-COVID-19 Scenario, FY 2015 & FY 2020 & FY 2025f
  • Mobile Wallet Transaction Value, in INR trillion, and Year-on-Year Change, in %, 2016 - 2024f
  • Mobile Wallet Transaction Value, in USD billion, and Volume, in billions, 2020 & 2025f
  • Mobile Wallet User Penetration, in % of Population, 2020 & 2025f
3.6. Indonesia
  • Value of Electronic Money Transactions, in USD billion, and Year-on-Year Change, in %, 2016 - 2021e
  • Mobile Wallet Transaction Value, in USD billion, and Volume, in billions, 2020 & 2025f
  • Mobile Wallet User Penetration, in % of Population, 2020 & 2025f
3.7. Singapore
  • Mobile Wallet Transaction Value, in USD billion, and Volume, in millions, 2020 & 2025f
  • Mobile Wallet User Penetration, in % of Population, 2020 & 2025f
3.8. Philippines
  • Card Payments Value, in PHP billion, and CAGR, in %, 2020 & 2024f
  • Mobile Wallet Transaction Value, in USD billion, and Volume, in millions, 2020 & 2025f
  • Mobile Wallet User Penetration, in % of Population, 2020 & 2025f
4. Europe
4.1. Regional
  • Online Payments Value, in USD trillion, 2020, 2021e & 2025f
  • Number of Mobile Wallets in Use, by Central & East Europe and West Europe, in millions, 2020 - 2025f
4.2. UK
  • Number of Proximity Mobile Payment Users, in millions, and Year-on-Year Change, in %, 2019 - 2025f
  • Number of Proximity Mobile Payment Users, in millions, and Year-on-Year Change, in %, 2019 - 2025f
4.3. Germany
  • Breakdown of E-Commerce Payment Methods, in % of E-Commerce Sales, 2020e
4.4. France
  • Number of E-Money Payments, and Year-on-Year Change, in %, in millions, 2016 - 2020
4.5. Italy
  • Contactless Transaction Value, in EUR billion, H1 2019, H1 2020 & H1 2021
4.6. Russia
  • Online Payment Transaction Value, in RUB billion, 2019 & 2020
5. North America
5.1. Regional
  • Number of Mobile Wallets in Use, in millions, and Y-o-Y Change, in %, 2020 - 2025f
5.2. USA
  • Number of Proximity Mobile Payment Users, in millions, Year-on-Year Change, in %, and Share, in % of Smartphone Users, 2020 - 2025f
  • Proximity Mobile Payment Average Annual Spending Value Per User, in USD, and Y-o-Y Change, in %, 2020 - 2025f
5.3. Canada
  • 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
6. Latin America
6.1. Regional
  • Number of Mobile Wallets in Use, in millions, and Year-on-Year Change, in %, 2020 - 2025f
  • Breakdown of Payment Methods, in %, 2020 & 2023f
6.2. Brazil
  • Mobile Wallet Transaction Value, in USD billion, and Volume, in billions, 2020 & 2025f
  • Mobile Wallet User Penetration, in % of Population, 2020 & 2025f
  • Breakdown of Payment Methods, in %, 2020 & 2023f
  • Number of Real-Time Payment Transactions, in billions, 2020 & 2025f
6.3. Mexico
  • Mobile Wallet Transaction Value, in USD billion, and Volume, in billions, 2020 & 2025f
  • Mobile Wallet User Penetration, in % of Population, 2020 & 2025f
  • Number of Real-Time Payment Transactions, in billions, 2020 & 2025f
6.4. Argentina
  • Number of Real-Time Payment Transactions, in millions, 2020 & 2025f
6.5. Colombia
  • Number of Real-Time Payment Transactions, in millions, 2020 & 2025f
6.6. Chile
  • Number of Real-Time Payment Transactions, in millions, 2020 & 2025f
7. Middle East & Africa
7.1. Regional
  • Number of Mobile Wallets in Use, in millions, and Year-on-Year Change, in %, 2020 - 2025f
7.2. UAE
  • Mobile Wallet Transaction Value, in USD billion, and Volume, in millions, 2020 & 2025f
  • Mobile Wallet User Penetration, in % of Population, 2020 & 2025f
7.3. Saudi Arabia
  • Mobile Wallet Transaction Value, in USD billion, and Volume, in billions, 2020 & 2025f
  • Mobile Wallet User Penetration, in % of Population, 2020 & 2025f
7.4. Egypt
  • Mobile Wallet Transaction Value, in USD billion, and Volume, in billions, 2020 & 2025f
  • Mobile Wallet User Penetration, in % of Population, 2020 & 2025f
7.5. Nigeria
  • Mobile Wallet Transaction Value, in USD billion, and Volume, in billions, 2020 & 2025f
  • Mobile Wallet User Penetration, in % of Population, 2020 & 2025f

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Companies Mentioned

A selection of companies mentioned in this report includes:

  • Alipay
  • Android Pay
  • Apple Pay
  • Paypal
  • Samsung Pay