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In North American alone, non-cash transactions are expected to hit 281 billion transactions by 2026. When you consider 2026 transaction projections for Europe (467 billion) and Asia-Pacific (1,232 billion) too, this adds up to a lot of credit and debit card, digital wallet, direct debit and credit transfers that businesses need to be able to accept.1

Each geography has its own nuances and preferences related to the most popular digital payment methods. BlueSnap is continually monitoring the trends and changes in the digital payments industry so that we can provide the most relevant, timely options to our clients, helping them to increase their revenue and reduce cart abandonment by letting customers pay the way they want to.

We’ve gathered 15 essential payment statistics that, when taken together, hint at the future of global payments, preferred payment methods, and how merchants can take advantage of the growing digital payments market.

Global Payment Method Statistics

1. By 2026, the most popular eCommerce payment methods globally are expected to be digital wallets (54%), credit cards (16%) and debit cards (10%).2

2. Almost half (48%) of respondents to a BlueSnap survey estimate they’ve lost up to 10% of their international revenue because their payment processing vendors do not offer suitable payment options.3

3. Nearly 80% of business leaders reported in the same survey that they had a payment authorization rate of less than 90% or didn’t know their authorization rate.4

4. Cards and digital wallets are the most common payment methods in most regions of the world.5

5. The number of Buy Now Pay Later (BNPL) users globally is projected to more than quadruple from 2021 to 2026.6

6. The value of global mobile payments are expected to grow at a Compound Annual Growth Rate (CAGR) of 36.2% from 2023 to 2030.7

North America Payment Method Statistics

7. 42% of consumers in the US have used digital wallets.8

8. While mobile wallets have grown in popularity, consumers in the US and Canada still overwhelmingly prefer to use credit cards for online shopping.9

9. In the US, the top digital wallets are Paypal (36%), Apple Pay (20%) and Venmo (16%).10

10. 23% of consumers in the US have made purchases directly through social media.11

11. 70% of US merchants experience customers requesting contactless payment options.12

12. 19% of consumers purchased something through a video game or other virtual space.13

Contactless Payment Method Statistics

13. 41% of consumers said they would not shop at a store that didn’t offer contactless payments.14

14. In January 2022, Visa reported that nearly 1 in 5 transactions were contactless.15

15. Contactless payments have even reached the B2B space, with 53% of businesses wanting to accept more electronic payment methods; however, 42% of businesses still describe their AR process as “mostly manual.”16

These statistics show that digital payments are expected to continue changing and growing at for the foreseeable future. If you’re looking for a partner that can help you keep up with trends in digital payments and help you get the most from your cross-border, invoicing and billing, or embedded payments, get in touch with us today.

Related Resources: 

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1 Statista
2 Statista
3, 4 BlueSnap
5, 9 Research and Markets
6 ReportLinker
7 Grand View Research
8, 11, 13 PYMNTS
10 CivicScience
12 American Express
14 Visa
15 Bankrate
16 BlueSnap

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