$5.2 trillion – the global transaction value of digital payments in 2020.Transaction Values of Digital Payments Worldwide in 2020 Only 25% of US consumers used direct debit for their online transactions.27% of US consumers used online gateways like Amazon Pay and PayPal.52% of US consumers used a debit card in the last 12 months.55% of US consumers used a credit card for online payments in the past year.21% ordered health products online because of the pandemic.(Statista COVID-19 Barometer, 2020).24% ordered food and drink delivery from the supermarket online because of the pandemic. ![]() ![]() The same percentage goes for household cleaning products. 26% deliberately ordered clothing online because of the pandemic.27% of US customers deliberately ordered hygiene products online because of the pandemic.31% of US customers have deliberately ordered restaurant delivery/takeout online because of the COVID-19 pandemic.US consumers deliberately ordered online because of the pandemic However, because of social distancing regulations, Digital Commerce and Mobile POS Payment became even more popular around the world. Online payment has been popular during the pre-pandemic era. The outbreak of the pandemic has challenged the resolution of economies and the way the world went about its business. Similarly, if you’re a vendor, having these online payment data at your fingertips will help you configure your system better to match customer needs. To help you stay abreast of the industry, we have compiled the following online payment statistics and industry insights. Like most business processes, online payments are constantly changing, and companies must adjust to the latest development to remain competitive. The digital disruptions in the payment industry have led to the advent of the best payment gateway software, which helps streamline online transactions. Indeed, cashless payments are becoming an option, impelled by tech innovations from both newcomers and dominant FinTech firms. And, because of the COVID situation, we have witnessed a great surge in the popularity of online payments worldwide. Technology has driven change in the payment space, sweeping past cards, cheques, and cash, into a new era dominated by cryptocurrencies, e-wallets, and one-click online payments. The industry has evolved so fast that the projection into its future is purely enthralling. The sector for online payments is arguably one of the most dynamic markets in the financial industry. Check out our report on Key Online Payment Software Statistics for 2022. A new version of this article, featuring the latest data and statistics is available.
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