The Checkout Revolution: consumer payment behavior online and in-store

The world of payments is changing. By 2027, 61% of online payments will be made using digital wallets, which will also become the leading payment method in physical stores. Meanwhile, the use of cards will gradually decline.

In our latest Insight Report, we analyzed the key changes shaping payment methods at both global and local levels and outlined guidelines to help businesses adapt their digital strategy and maximize conversions.

Key takeaways from the report: 

• Digital wallets are on the rise and continue to dominate ecommerce globally. In APAC, they already account for 70% of transaction value.
• Europe shows significant diversity in payment methods: while digital wallets are growing, payment preferences vary based on cultural context. For example, in Germany, BNPL (Buy Now Pay Later) is more popular than in other countries.
• Payment methods are crucial for conversion: 13% of users abandon their cart if they don’t find their preferred payment option.

What you’ll find in the report:

• A comprehensive overview of the most widely used payment methods globally and locally, with a focus on Europe, the US, and APAC.
• An in-depth look at the key players in the digital wallet and BNPL market, both established and emerging.
• Insights into consumer behaviors and preferences related to different payment methods.
• 4 key actions for brands to optimize the user experience (UX) and boost conversions.