Market Research Report
North America Online Payment Methods 2020 & COVID-19's Impact
|Published by||yStats.com GmbH & Co. KG||Product code||933633|
|Published||Content info||74 Pages/Charts
Delivery time: 1-2 business days
|North America Online Payment Methods 2020 & COVID-19's Impact|
|Published: April 17, 2020||Content info: 74 Pages/Charts||
"COVID-19 drives a shift to contactless payments in North America."
Contactless cards and mobile payments are growing in the USA and Canada as the coronavirus pandemic continues, according to findings in the April 2020 report by yStats.com. A recent survey cited by yStats.com shows that nearly one-third of consumers in the USA became first-time users of contactless payments during the pandemic, and the majority planned to continue paying contactless post-COVID-19. Contactless card payments in the U.S. are projected to increase eight-fold between 2020 and 2024, and mobile proximity payments are also rising rapidly.
In E-Commerce, plastic remains the leading payment method by market share both in Canada and the USA, according to statistics cited in the yStats.com report. The top alternative payment methods include digital wallets in the USA and bank transfers in Canada. Digital wallets are projected to see rapid growth in the U.S. and overtake credit cards by share of E-Commerce sales within the next two years. Mobile wallet solutions are gaining popularity not only for remote shopping, but also for in-store purchases and P2P transfers. The top mobile payment apps in the USA include Apple Pay, Samsung Pay and Google Pay, while in Canada mobile banking apps outrank digital wallets such as PayPal, Apple Pay and Starbucks payment app.
Afterpay Ltd, Alphabet Inc, Amazon Payments Inc, American Express Co, Apple Inc, Klarna AB, PayPal Holdings Inc, Samsung Co. Ltd., Square Inc, Starbucks Corp, Venmo LLC, Visa Inc, Zelle LLP.