Market Research Report
North America Online Payment Methods 2022
|North America Online Payment Methods 2022|
Published: June 8, 2022
yStats.com GmbH & Co. KG
Content info: 71 Pages
Delivery time: 1-2 business days
Digital payment methods are here to stay: new yStats.com report.
While mobile wallets experienced a strong increase in use and popularity during and post-pandemic, most consumers in both the U.S. and Canada still prefer to use credit cards for online shopping in 2022, as per data included in the yStats.com report. Nevertheless, mobile wallets are gaining acceptance, already supported by around one in two E-Commerce merchants in the U.S. and one in three in Canada. Also in-store usage of mobile payment solutions is on the rise, with competition among top providers such as Apple and Google intensifying.
A payment solution gaining popularity among consumers in North America is the Buy Now Pay Later (BNPL) service. In the U.S. alone, the number of BNPL users is projected to more than triple by 2025. The younger generation had the highest BNPL user penetration rates in 2021. Furthermore, around one third of U.S. online shoppers used BNPL as a payment method, and almost half of all BNPL users preferred using BNPL over credit cards. When it comes to BNPL platforms used, Afterpay and Klarna were in the lead in the U.S., according to a recent survey cited by yStats.com.
Affirm, Afterpay, Klarna, Paypal, Paysafe, Perpay, Quadpay, Sizzle, Starbucks, Venmo, WearOS.