United States Digital Payments Market Report 2018-2020: Digital Purchasing, Payment Preferences, Wallets and P2P

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Digital Payments in the U.S.: Consumer Usage, Wallets, and P2P gives industry participants the insight they need to stay abreast of digital payments trends, including digital purchasing, digital payment preferences, digital wallets, and digital P2P.

Driven by mobile app purchases, mobile P2P, and mobile bill payment, digital payments are increasingly mobile in nature. But while mobile purchases are speeding forward, in-store and remote payments trends tell different stories. This research estimates that in 2018, some 67% of mobile wallet purchases will be made remotely versus in person.

Less than a quarter of adults express interest in a service allowing them to use their cell phones to make purchases in a store. And yet, among in-store mobile purchasers, mobile apps reign, thanks in part to PayPal's industry-leading digital wallet, which is not only now a mainstream product but one many consumers turn to most when navigating mobile payment choices.

The report does the following:

  • Provides a market size and forecast through 2020 for electronic payments, remote payments and mobile wallet purchases
  • Trends online and mobile purchasing behavior, as well as in-store purchasing by retail category, over time
  • Trends and forecasts smartphone and non-smartphone ownership and digital commerce through 2020
  • Tends consumer mobile usage preference, mobile access, mobile payments, and interest in in-store mobile payments over time
  • Analyzes mobile behaviors via custom segmentation groups
  • Analyzes online payment method preferences, online and mobile checkout preferences, bill payment trends,
  • Assesses mobile payment usage by type and by channel (i.e. in-store vs. remote)
  • Assesses mobile wallet usage and funding method, as well as why consumers do not use mobile wallets
  • Assesses P2P and money transfer usage and methods in aggregate, online and mobile

Key Topics Covered:

1. Executive Summary:

  • Report Scope
  • Report Summary
  • Market size and forecast
  • Digital purchasing trends
  • Digital payment preference trends
  • Mobile wallets and payment apps
  • P2P and money transfer

2. Market Size and Forecast:

  • Electronic payments
  • Table Consumer Payments Value: Paper vs. Electronic, 2012-2020
  • Remote payments
  • P2P and money transfer
  • Mobile wallets

3. Digital Purchasing Trends:

  • Smartphone Ownership Trends
  • Driving mobile payments growth
  • Digital commerce trends
  • E-commerce sales forecast
  • M-commerce sales forecast
  • Online purchasing trends
  • More consumers purchasing online and making more purchases online
  • Mobile purchasing catching on
  • Tendency to purchase in the store declines
  • In-store category declines vary; recent trends suggest in-store retail resilience
  • Online category growth driven by food, cosmetics, pet, office supplies, & home furnishings

4. Digital Payment Preference Trends:

  • Mobile Payments Conundrum
  • Mobile payment not keeping pace with mobile access
  • Online and mobile banking and purchasing trends
  • Online vs. mobile banking, shopping and purchasing trends
  • Demographic Analysis
  • Age Patterns
  • HH income
  • Mobile user segmentation
  • Online payment method preferences
  • Credit cards the online payment method of choice, but PayPal firmly established
  • Online and Mobile Checkout Preferences
  • Seamless online checkout
  • Checkout button usage by brand
  • Bill Payment Trends
  • Trends over time
  • Form of payment used to pay bills
  • Mobile payment and purchase preferences
  • Mobile payment methods used
  • In-store mobile purchases
  • Remote mobile purchases

5. Mobile Wallets and Payment Apps:

  • Mobile wallet used
  • Mobile wallet funding method
  • PayPal: funding method disruptor
  • Mobile wallets also potential funding method disruptors
  • Mobile wallet payment entry method
  • Why consumers do not use mobile wallets

6. P2P and Money Transfer:

  • P2P and Money Transfer Usage Methods
  • Trends over time
  • Bank-driven P2P usage and interest
  • Instant P2P payment usage and interest
  • P2P Methods
  • Cash remains king, but overthrow is assured
  • Online vs. mobile: online P2P remains more prevalent
  • Mobile money sending methods: PayPal leads but banks catching up

7. Appendix:

Companies Mentioned

  • Amazon
  • Paypal

For more information about this report visit https://www.researchandmarkets.com/research/b49fz2/united_states?w=5

Media Contact:

Laura Wood, Senior Manager
[email protected]  

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SOURCE Research and Markets

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Maria Burns

Maria Burns

Maria is a Viral News Editor who graduated from the University Of California. She likes social media trends, being semi-healthy, Buffalo Wild Wings and vodka with lime. When she isn’t writing, Maria loves to travel. She last went to Thailand to play with elephants and is planning a trip to Bali.
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