Rapid growth expected for global digital payments by 2022

HAMBURG, Germany - July 17, 2019 - PRLog -- The publication cites key predictions for the online and mobile payments market in five global regions through 2022 and beyond.

Digital payments growth led by Asia-Pacific
With a double-digit growth rate, the global digital payments market is expected to reach new heights by 2022. Asia-Pacific is the world's leader when it comes to online and mobile payment volume, with North America ranking second. According to a forecast cited by yStats.com, remote E-Commerce will remain the largest digital payment segment through 2022, although in-store mobile payments are also projected to see major growth, driven by the proliferation of mobile wallets. Already this year, more than one in three smartphone owners worldwide are expected to use their devices to make payments at POS.

E-Wallets to account for the highest share of online payments in 2022
E-Wallets will reign in the E-Commerce payment space, overtaking credit cards, according to a prediction cited in the yStats.com report. In 2022, close to half of all E-Commerce transactions could be paid by digital wallets like Alipay, PayPal and WeChat Pay. At the same time, as an increasing share of purchases is made remotely, online payment fraud losses are climbing. As a result, mobile biometrics will gain popularity to give an extra protection to digital purchases.

For further information, see: https://www.ystats.com/wp-content/uploads/2019/05/2019.05...

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