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Virtual Payments
The number of non-cash transactions in the United States has increased from 152.5 billion in 2015 to 190 billion in 2019.
VIRTUAL PAYMENTS IN THE US/NORTH AMERICA
- Number of non-cash transactions in 2015: 152.5 billion
- Number of non-cash transactions in 2016: 161.1 billion
- Number of non-cash transactions in 2017: 170.2 billion
- Number of non-cash transactions in 2018: 180 billion
- Number of non-cash transactions in 2019: 190 billion
- Total transaction value for digital payment in 2019: $962.027 billion
- The annual growth rate of the transaction value for digital payment from 2019 to 2023: 8.6%
MOBILE PHONE INITIATED PAYMENTS IN THE US
- Number of people that use mobile payments in 2015: 23.2 million
- Number of people that use mobile payments in 2016: 38.4 million
- Number of people that use mobile payments in 2017: 48.1 million
- Number of people that use mobile payments in 2018: 55.0 million
- Number of people that use mobile payments in 2019: 61.6 million
DIFFERENCE BETWEEN MOBILE PHONE INITIATED PAYMENTS AND ONLINE PAYMENTS
- E-commerce mobile orders increased from 29% in 2015 to 31% in 2016.
- In 2017, 30% of all digital commerce transactions was made from mobile apps while 70% is from desktop and web browsers.
- In 2017, mobile commerce accounted for 48% of all digital commerce sales and forecasted to reach 70% by 2022.
- Mobile payments are expected to rise from 17% in 2018 to 28% in 2022.
- In the US, almost 90% of consumers prefer to pay by cash, credit card or debit card over mobile alternatives.
ADDITIONAL GLOBAL INSIGHTS
- Debit cards accounted for 46.7% of non-cash payments while credit cards accounted for 19.1%.
- Non-cash transactions rose by 11.2% from 2014 to 2015.
- WeChat has over 1 billion daily active users in 2019, making it the world’s biggest mobile payment platform.
- Global transaction volume of mobile payment in 2015: $450 billion
- Global transaction volume of mobile payment in 2016: $620 billion
- Global transaction volume of mobile payment in 2017: $780 billion
- Global transaction volume of mobile payment in 2018: $930 billion
- Global transaction volume of mobile payment in 2019: $1,080 billion