North America Online Payment Methods: Full Year 2017 code:1379

North America Online Payment Methods: Full Year 2017
OVERVIEW
TABLE OF CONTENTS
COMPANIES MENTIONED
Countries Covered: Canada, USA
Pages: 78
Publication Date: 11/07/2018
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Questions Covered in the report:
  • What are the top payment methods used by online shoppers in Canada and the USA?
  • How does the concern over payment security influence the behavior of online shoppers in the USA?
  • How do mobile payments fare in North America compared to other regions worldwide?
  • What are the main drivers of mobile payment adoption for consumers in Canada?
  • Who is winning the battle of the mobile wallets in the USA?

Key Findings:

Digital wallets on the rise in North America

Credit card remains the leading payment choice of digital buyers in the USA and Canada, according to recent surveys cited in the yStats.com’s report. However, in line with the global trend, these countries see a growing use of digital wallet solutions such as PayPal and mobile payment methods including Apple Pay, Android Pay, Google Pay and others.

The key factors driving the adoption of these innovative payment methods by North American consumers include convenience of their use along with reservations about the safety of traditional card payments on the Internet. One-third of U.S. consumers surveyed in 2017 admitted never saving their credit card details on shopping sites due to the fear of this information being hacked. At the same time, concerns over the security of mobile payments also persist. Another survey cited by yStats.com revealed that respondents in Canada value the availability of reward programs above all when paying with their phones.

Given the consumers’ rising interest in innovative payment means, competition between mobile wallet providers in North America is intensifying. Mobile payment apps by merchants such as Walmart Pay and Starbucks Pay especially grew in adoption between 2016 and 2017, although third-party solutions like Apple Pay top the ranking of individual services used by digital consumers in the U.S.

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1. Management Summary

2. Global Development

  • Payment Methods Preferred in E-Commerce, in % of Online Shoppers, Q1 2017
  • Card Spending, in USD trillion, and Breakdown by POS and E-Commerce, in %, 2015 & 2021f
  • Breakdown of E-Commerce Sales by Payment Methods, in %, 2021f
  • Top Two Payment Methods Preferred in Cross-Border Online Shopping, in % of Cross-Border Online Shoppers, 2016 & 2017
  • Reasons For Not Shopping Online, incl. Payment-Related, in % of Internet Users Who Do Not Shop Online, Q1 2017
  • FinTech Adoption Rate, in % of Internet Users, by Selected Countries, 2017
  • Most Used FinTech Services According to Internet Users, in %, 2017
  • Most Relevant Emerging Technologies for Large FinTech and Financial Companies to Invest In, in % of Respondents in Each Group, April 2017
  • Entities Expected to Be The Most Disruptive in FinTech in the Next Five Years According to Financial Services and FinTech Executives, in %, 2017
  • Top 10 VC-Backed FinTech Unicorns by Valuation, in USD billion, Q3 2017
  • Expected Annual ROI According to Financial Services and FinTech Executives, in %, 2017
  • Mobile Payment User Penetration, in % of Internet Users, by Regions, Q4 2015 & Q2 2017
  • Share of Internet Users Who Are Likely To Use Mobile Payment Next Year, in % of Internet Users, by Selected Countries, Q1 2017
  • Penetration of Bank Account Holders Willing to Share Personal Financial Data with Third-Party Providers to Use Their Services, in %, by Selected Countries, August 2017
  • Breakdown of the Number of Transactions/Purchases by Payment Methods, in %, as Perceived by Businesses and by Consumers, 2016
  • Factors Most Important to Consumers in Deciding to Use Mobile Payments, in %, 2016
  • Share of Internet Users Who Believe That Mobile Payment is Not Secure, in %, October 2016
  • Mobile Payment Security Features Demanded by Consumers and Implemented by Businesses, in %, 2016
  • Attitudes Towards Mobile Payment and Mobile Money, in % of Consumers, by Developed and Developing Markets, 2016
  • Contactless Payment Transaction Value, in USD billion, 2017e & 2019f
  • Number of Contactless Payment Users of Apple Pay, Samsung Pay and Android Pay, in millions, 2015 – 2017e
  • Apple Pay User Penetration Compared to Overall Mobile Payment User Penetration, in % of Internet Users, by Penetrated Markets, Q2 2017

3. North America

3.1. Regional

  • Share of Consumers Using Mobile Payment Apps at Least Weekly, by Apps from Retailers and Other Apps, 2016 & 2017
  • Breakdown of Current and Planned Mobile Payment Solutions Acceptance, in % of Retailers, February 2017

3.2. USA

  • Online and Mobile Payment Trends, February 2018
  • Online and Mobile Payment Trends and News About Players, August 2017
  • Breakdown of Payment Methods Preferred in E-Commerce, in % of Online Shoppers, February 2017
  • Ways in Which Fear of Hacking Has Influenced Online Shopping Behavior, in % of Online Shoppers, January 2017
  • E-Commerce Website Types Most Trusted with Financial Information When Shopping Online, in % of Online Shoppers, January 2017
  • Share of Consumers Who Are Worried About Their Personal Information When Using a Mobile Payment App, in %, 2015 – 2017
  • Number of Adults Who Have Their Payment Card Information Stored on at Least One Website or Mobile App for Future Purchases, and Who Always Save Their Card Information Online, in millions, May 2017
  • Awareness and Usage of Emerging Technologies in Shopping, incl. Mobile Payment, in % of Consumers, July 2017
  • Mobile Payment Transactions, in USD billion, 2011, 2016 & 2021f
  • Proximity Mobile Payment Transaction Value, in USD billion, 2016 – 2021f
  • Mobile Payment Apps Used for Making Payments In-Store, in % of In-Store Mobile Payment Users, February 2017
  • Mobile Payment Apps Used for Preordering Food or Coffee, in % of Users, February 2017
  • Mobile Wallets Used, in % of Internet Users, July 2017
  • Digital and Mobile Payment Methods Used, in % of Online Shoppers, by Generation Y and Generation Z, March 2017
  • Breakdown of Preferred Mobile Wallet Providers, in % of Current Mobile Wallet Users, Interested Non-Users and Total, January 2017
  • Issuer Mobile Wallet Ownership, in % of Banked Smartphone Users, and Issuer Mobile Wallet Apps Used, in % of Issuer Wallet App Users, January 2017
  • Merchant Mobile Wallet Ownership, in % of Banked Smartphone Users, and Merchant Mobile Wallet Apps Used, in % of Merchant Wallet App Users, January 2017
  • Share of Banked Smartphone Users Who Own Apple Pay, Samsung Pay or Android Pay Wallets, and Breakdown of the “Pays” Owned, in % of “Pays” Owners, January 2017
  • Penetration of Apple Pay, Android Pay and Samsung Pay, by Enrolled, Have Used and Frequent Users, in % of Compatible Device Owners, January 2017
  • Types of Mobile Payments Made, in % of Banked Smartphone Users, January 2017
  • Most Important Features in Money Transfer or Payment Applications and Services, in % of Adults, July 2017
  • P2P Mobile Payment Users, in millions, and Penetration, in % of Smartphone Users, 2016 -2021f
  • Share of Adults Who Used Online or Mobile P2P Payment in the Previous 12 Months, 2013 – 2021f
  • P2P Payment Services Used, in % of Users, 2017
  • Voice Payment Users, in millions, and Penetration, in % of Adults, 2017 – 2022f
  • Breakdown of Voice Assistants Trusted to Securely Make a Payment, in % of Adults, April 2017

3.3. Canada

  • Top 3 Payment Methods Preferred in E-Commerce, in % of Respondents, March 2017
  • Breakdown of E-Commerce Sales by Payment Systems, in %, 2015 & 2016
  • Breakdown of Total Payment Volume, in millions, and Value, in CAD million, by Payment Methods, incl. Online Transfers, 2015 & 2016
  • Share of Online Shoppers Who Have Used Mobile Payment or Digital Wallet Service to Make a Purchase, in %, 2016 & 2017
  • Share of Internet Users Who Store Personal Credit Card Information with a Mobile App or E-Commerce Site, in %, by Age Group, April 2017
  • Share of Cardholders Who Loaded Credit/Debit Card Information on Their Mobile Phone/Wallet, in %, 2017
  • Awareness of Contactless Payment Methods, in % of Credit/Debit Cardholders, H1 2017
  • Breakdown of Contactless Card Payment Users and Apple Pay Users by Age Group, in %, Q2 2017
  • Share of Internet Users Who Installed an E-Wallet Mobile App, in %, by Age Group, April 2017
  • Share of Smartphone Users Indicating Security Concerns as a Hindrance to Making Mobile Payments, in %, by Age Group, May 2017
  • Motives to Use Mobile Wallet as a Primary Payment Method, in % of Mobile Payment Users, September 2016
Read More
  • Android Inc.
  • Apple Inc
  • Google LLC
  • MasterCard Inc.
  • Paypal Inc
  • Venmo Inc.
  • Visa Inc.
  • Wal-Mart Stores Inc.
  • Zelle LLP
Read More

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