According to the data gathered by BuyShares, the digital payments segment includes payments for products and services made over the Internet and mobile (POS) payments via smartphone applications.
As the world’s largest digital payments industry, China is expected to generate USD 1.9 trillion worth transactions, or nearly 45% of all digital payments in 2020, while the US will account USD 895.7 billion in transaction value and a 20% market share in 2020. Japan, the UK, and South Korea follow with USD 165.2 billion, USD 164.4 billion, and USD 113.5 billion worth transactions, respectively.
Moreover, the China-based digital payments market is expected to surge by 84%, with the combined value of transactions reaching USD 3.5 trillion by 2024, while the US is forecast to reach USD 1.5 trillion transaction value by 2024, a 67% jump in four years.
The Paypers is the Netherlands-based leading independent source of news and intelligence for professional in the global payment community.
The Paypers provides a wide range of news and analysis products aimed at keeping the ecommerce, fintech, and payment professionals informed about the latest developments in the industry.
Current themes
No part of this site can be reproduced without explicit permission of The Paypers (v2.7).
Privacy Policy / Cookie Statement
Copyright