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Oct 7, 2021 · Payments revenue did indeed decline—to $1.9 trillion globally—but by less than we anticipated last fall. Indicators point to a nominal but geographically uneven rebound in 2021, bringing revenue back into the range of 2019’s record high. From there, McKinsey projects a return to historical mid-single-digit growth rates, generating 2025 ...
Dec 15, 2021 · The sea change to a digital commerce world is unlikely to turn back. Whereas safety and the need for necessities drove the dramatic spike in digital commerce during the pandemic, convenience and simplicity were the drivers of its evolution in 2021. Want to learn what 2022 will bring? Read our 2022 Commerce and Payment Trends Report now.
to payment flows. Following a brief review of 2020 results and preliminary snapshot of 2021’s projected outcome, we will explore these opportunities in greater detail. 2020–21: A period of transition The overall 5 percent decline in payment revenues is composed of divergent regional trends: Asia–Pacific, which has consistently outpaced
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- Solidifying Digital Gains, Amid Some Retrenchment
- BNPL Proving Effective; Crypto Growing Rapidly
- Digital Wallets Making Further Dents in Leather
The 82 percent of Americans using digital payments—defined to include browser-based or in-app online purchases, in-store checkout using a mobile phone and/or QR code, and person-to-person (P2P) payments—in 2021 exceeds last year’s 78 percent and the 72 percent of five years ago. Omnichannel use of digital payments continues to grow over time, altho...
For two of the most widely discussed industry innovations—BNPL and cryptocurrency—our research reveals favorable yet different usage patterns. Asked about BNPL, 30 percent of our survey respondents report having financed a purchase with this type of service (Exhibit 1). Although this share is only three percentage points higher than 2020’s, attitud...
Fifteen percent of digital-wallet users say they leave their residence regularly without their old-school version. Another 11 percent indicate they consider doing so only when they do not plan to purchase anything or know they can use a digital wallet. Following widespread promotional efforts designed to coax consumers to enter card credentials, mo...
Dec 15, 2021 · Integrate payment acceptance into your ERP with a cloud-based solution. Manage employees with cloud-based payroll and HR tools. Pay employees the way they prefer–quickly, simply and digitally. Whatever your sector, size or ambition, we deliver the technology, software and services you need.
Trend #3. The crypto boom of 2021 has staying power. In Q1, Visa credentials in crypto wallets had more than $2.5 billion in payments volume, which is already 70% of the payments volume for all fiscal 2021.4 Consumers are also intrigued by crypto: a recent Visa survey indicates 83% of consumers surveyed are interested in their bank offering a ...
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What are the key Commerce and payment trends for 2021?
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What are the key Commerce and payment trends?
Jan 13, 2021 · As the pandemic changed everything about daily life in the past year, merchants learned to pivot quickly. They developed and accelerated new ways to engage with consumers, who responded with enthusiasm. There are now more ways than ever to pay, a trend that will continue in 2021, as payments become increasingly seamless, embedded and contextual.
