Bilder immer einfärben in:

Blue, Accent color 1

FinTech Report 2020 –

Digital Payments
Statista Digital Market Outlook – Segment Report

May 2020
Agenda

01 Segment Report 02 Appendix

▪ Overview ▪ User demographics
▪ Market sizes ▪ Market structure
▪ User numbers ▪ Product overview
▪ Average transaction value per ▪ Author
user
▪ Penetration rates

2
Digital Payments: products and services
Overview: market scope

Digital Commerce Mobile POS Payments

▪ All consumer transactions made via the Internet which are directly ▪ Transactions at point-of-sale that are processed via smartphone
related to online shopping for products and services applications (so-called "mobile wallets")

▪ Online transactions can be made via various payment methods ▪ The payments are made by a contactless interaction of the
(credit cards, direct debit, invoice, or online payment providers, such smartphone app with a suitable payment terminal belonging to the
as PayPal and AliPay) merchant.

▪ The data transfer can be made via wireless standard NFC (Near Field
Communication) or by scanning a QR code to initiate the payment.

Note: The following are not included in this segment: transactions between businesses (Business-to-Business payments), bank transfers initiated
online (that are not in connection with products and services purchased online), and payment transactions at the point-of-sale where mobile
card readers (terminals) are used.
3 Source: Statista Digital Market Outlook 2020
China is a global leader in Digital Payments
Overview: customer benefit and market development
Customer benefit
It is obvious that the way we pay for goods and services, online as well as
offline, is about to change radically due to emerging digital services.
Thanks to the continuous rise of smartphones and online (and mobile)
shopping, the FinTech revolution is already in full swing, especially in the
field of digital payments. Digitization has brought along a disruptive
change in checkout processes (online purchases) and payments at the
POS (offline purchases).
The key question in this context is: To what extent will digital payment
systems substitute cash transactions? The outcome depends on
customer behavior (in terms of the digital commerce development) and
customer benefits associated with using digital wallets at the POS.
Given the high internet coverage, the adoption of digital payment
services in developed countries is mainly a question of convenience and
added value to the existing infrastructure. The most important drivers
are the simplicity of use, especially for people that are not tech-savvy,
the broad or ubiquitous acceptance, the reasonable transaction speed,
the low cost and high security standards. The importance of each of the
criteria might differ between the payment categories and the cultural
mindset in different regions plays an important role in the adoption.
When it comes to user and shop/merchant adoption of a specific
FinTech solution, PayPal is probably the most successful player in the
Western world today. It offers easy application and payment processes
for consumers, which are widely accepted by merchants worldwide.
1: CAGR: Compound Annual Growth Rate / average growth rate per year
4 Source: Statista Digital Market Outlook 2020
Market size and future development
With a global transaction value of about US$3,858.6 billion in 2019, the
Digital Payments segment made up by far the biggest share of the total
FinTech market. The high transaction value in Digital Commerce is driven
by the vast amount of products and services purchased online and
includes all eCommerce, eServices and Digital Media transactions or
bookings in eTravel. This is why Digital Commerce accounted for 72% of
the total Digital Payment transaction value. Mobile POS payments
contributed about 28% or US$1,066.8 billion to the Digital Payments
value in 2019.
When it comes to regional proportions, the U.S. and China have
comparable transaction volumes, with Europe’s share staying
considerably smaller. The Chinese Digital Payment transaction value
amounted to US$1,595.5 billion in 2019, followed by the U.S. with
US$811.4 billion, and Europe with US$666.8 billion.
Although growth rates show high double-digit figures in the Western
world, relevant market growth in the next couple of years will be driven
by mobile-first countries, especially China. There are now about 2 billion
people worldwide who still live outside a financial system or without
permanent access to the internet. Global Digital Payments are expected
to double in transaction value by 2024 to reach US$8,266.9 billion.
Mobile Payments are expected to grow almost 4-fold between 2019 and
2024.
A seamless integration of payment processes is
relevant in all digital commerce activities
Overview: assumptions and trends
Assumptions
We observe that the payment industry is experiencing three major
trends with sustainable long-term impact: seamless commerce, mobile
payments & blockchain technology.
Seamless integration of payment processes has relevance in every
context, be it online shopping, in-store purchases or peer-to-peer
payments. Usability is the key to high conversion rates and consumer
adoption. High security standards throughout the payment process will
most likely be ensured by biometrical methods such as fingerprint
authentication.
Another important factor is the growing impact of mobile devices not
only for POS shopping but also for mobile checkout processes in the
eCommerce world, as well as the integration of P2P payments into
messengers and social networks. Especially in mobile-first countries,
high convenience and usability on mobile devices is inevitable.
A third dimension is blockchain technology, which is closely connected
to cryptocurrencies. Here we have a completely new technology without
any legacy players in the market. The technology promises to facilitate
secure direct transactions without intermediaries. However, the impact
of blockchain technology on financial regulation is not yet foreseeable.
The European Commission states that “existing regulation will still apply”,
but like in other areas of FinTech, regulation can have a drastic impact
on the future development of the markets.
5 Source: Statista Digital Market Outlook 2020
Trends
Large players such as PayPal, Apple, Amazon, and Facebook are
investing significant amounts of money into online and mobile payment
solutions. The ongoing development from separate online shops
towards integrated online shopping ecosystems, in particular the merger
of shopping and social media / messaging, opens up new business
models and opportunities for digital payment methods.
In this field, China, as a mobile-first country, sets the standards for
mCommerce shopping as well as mobile POS solutions very high. The
successful integration of payment solutions into social messaging
services gave birth to two huge payment systems with an enormous
user base, namely Alipay (Ant Financial) and WeChat Pay (Tencent).
These two payment providers cover almost the entire Chinese Mobile
Payment market. Paying the taxi driver, buying a coffee to go on the way
to work, ordering cinema tickets and splitting the bill between friends –
all this is covered by one single payment app. This development is
predestined to sooner or later reach Europe and the U.S. as well.
In Europe we observe an evolving FinTech start-up landscape, especially
in the field of online and mobile Banking. However, market dynamics
and pervasion of innovative FinTech solutions are not comparable to the
situation in China or the U.S.
The market's largest segment is Digital Commerce
with a transaction value of US$2,791.8 billion in 2019
Market sizes: global

Global transaction value forecast in billion US$

Digital Commerce Mobile POS Payments

8,266.9

7,314.6
+16.5%1
6,365.0
4,154.4
5,404.1 3,407.3
2,703.8
4,406.4
2,063.0
3,858.6
1,479.7
1,066.8

3,907.3 4,112.6
3,341.1 3,661.2
2,791.8 2,926.7

2019 2020 2021 2022 2023 2024

1: CAGR: Compound Annual Growth Rate / average growth rate per year
6 Source: Statista Digital Market Outlook 2020
Europe shows the highest growth in Digital Payments
Market sizes: regional comparison (1/2)

Transaction value forecast in billion US$

Digital Commerce Mobile POS Payments

China United States Europe

+17.2%1
3,529.6

1,898.0

+18.7%1
1,572.4
1,595.5 +13.1%1
1,502.6
581.4 798.4
777.9
811.4 666.8
1,631.6
257.1 96.3
1,014.2 774.1
554.3 724.7 570.5

2019 2024 2019 2024 2019 2024

1: CAGR: Compound Annual Growth Rate / average growth rate per year
7 Source: Statista Digital Market Outlook 2020
With a transaction value of US$154.9 billion, the UK is
now the biggest Digital Payments market in Europe
Market sizes: regional comparison (2/2)

Transaction value forecast in billion US$

Digital Commerce Mobile POS Payments

+18.8%1

366.4 +13.7%1
+21.5%1
196.1
188.1

58.6
210.8
102.0 +20.2%1
+15.0%1
103.2
154.9 3.2 96.5
84.6
31.0 71.0
137.5 6.0 32.0 50.6
100.0 42.1 38.4
155.6 86.1
123.9 4.7 4.6
65.0 52.6
37.4 33.8 45.9

2019 2024 2019 2024 2019 2024 2019 2024 2019 2024

1: CAGR: Compound Annual Growth Rate / average growth rate per year
8 Source: Statista Digital Market Outlook 2020
Most Digital Commerce users live in China
User numbers: regional comparison (1/2)

Number of users forecast in millions

Digital Commerce Mobile POS Payments

China United States Europe

1,676.2

1,231.3

1,093.0

832.9

554.2
454.6

246.9 278.3
583.1
398.4 167.5
41.8 74.7 71.4

2019 2024 2019 2024 2019 2024

9 Source: Statista Digital Market Outlook 2020

Germany has the highest user numbers in Digital
Commerce within Europe in 2019
User numbers: regional comparison (2/2)

Number of users forecast in millions

Digital Commerce Mobile POS Payments

68.2
61.0 60.0
55.2
51.3
44.6
40.3
35.4
31.7
27.3

18.1 19.7
13.0
10.0
7.1 8.1
3.6 4.7
2.6 1.9

2019 2024 2019 2024 2019 2024 2019 2024 2019 2024

10 Source: Statista Digital Market Outlook 2020

Out of the three major regions, U.S. users generate the
highest average transaction value in Digital Commerce
Average transaction value per user: regional comparison (1/2)

Average transaction value per user forecast in US$

Digital Commerce Mobile POS Payments

China United States Europe

1,459 6,158 1,348

2019 2019 2019
1,218 2,245 1,255

3,255 10,412 4,765

2024 2024 2024
1,493 2,604 1,397

11 Source: Statista Digital Market Outlook 2020

Average transaction values in the EU top 5 countries
are going to increase in the future
Average transaction value per user: regional comparison (2/2)

Average transaction value per user forecast in US$

Digital Commerce Mobile POS Payments

4,374 887 2,350

2019 2019 2019
2,244 1,668 1,457

11,666 2,977 7,872

2024 2024 2024
2,551 2,018 1,678

1,011 2,469
2019 2019
1,371 1,064

3,188 6,256
2024 2024
1,489 1,139

12 Source: Statista Digital Market Outlook 2020

The adoption of Mobile POS Payments is already quite
high but the market is still growing
Penetration rates: innovation diffusion

Innovation diffusion curve for 2019

27.6% Diffusion
(accumulated users)

12.7%
10.5%
10.0%
3.1% 3.9% 4.3%

Innovators 2.5% Early adopters 16.0% Early majority 50.0% Late majority 84.0% Laggards 100.0%

The diffusion of innovations graph shows successive groups of consumers adopting Mobile POS Payments (the graph above shows the penetration rate
of selected countries). Innovations in general are not adopted by all individuals at the same time. Instead, they tend to adopt in a time sequence, and
can be classified into adopter categories based on how long it takes until they begin using the service. Diffusion is considered to be the rate and volume
at which innovations spread among their users (an adoption rate of 100% is theoretically possible but not realistic). Considering the convenience of
mobile payment technologies, the Mobile POS Payments market is likely to experience further growth in the next years.

13 Source: Statista Digital Market Outlook 2020

 APPENDIX
Detailed consumer information is one key
factor for describing market developments
precisely. In this appendix, we give detailed
information on three different user
characteristics: age, income, and gender
distribution of users. The data is based on
Statista's Global Consumer Survey.
Furthermore, we provide an overview of the
market structure presented in this report.

14
Over 34% of U.S.-Americans using Mobile POS
Payments are between 25 and 34 years old
User demographics: users of mobile POS payments in the U.S.

Users by gender Users by income

Medium income

35.7%
Low income
40.8%
High income
Female 23.5%

45.5%
Users by age
54.5% Male
34.6%

27.2%

17.5%
14.7%

6.0%

18 -24 years 25-34 years 35-44 years 45-54 years 55-64 years

"How have you conducted payments online in the past 12 months?"; Multi pick; n=4,120
15 Source: Statista Global Consumer Survey, as at October 2019
Usage of Mobile POS Payments in China is equally
spread among genders
User demographics: users of mobile POS payments in China

Users by gender Users by income

Medium income
33.3%

Low income High income

33.3% 33.3%

Female

48.0%
Users by age
52.0% Male
36.4%

23.2%
21.2%
16.2%

3.0%

18 -24 years 25-34 years 35-44 years 45-54 years 55-64 years

"How have you conducted payments online in the past 12 months?"; Multi pick; n=2,092
16 Source: Statista Global Consumer Survey, as at October 2019
A higher share of people with high incomes use
Mobile POS Payments in the UK
User demographics: users of mobile POS payments in the UK

Users by gender Users by income

Medium income

Low income 26.7%

50.0%
Female High income
23.3%

41.7%

Users by age

58.3% 28.4%
Male 26.9%
22.8%

16.4%

5.6%

18 -24 years 25-34 years 35-44 years 45-54 years 55-64 years

"How have you conducted payments online in the past 12 months?"; Multi pick; n=2,038
17 Source: Statista Global Consumer Survey, as at October 2019
Users of Mobile POS Payments in Germany are
predominantly male
User demographics: users of mobile POS payments in Germany

Users by gender Users by income

Medium income

Female 32.9%
Low income
45.9%
28.1% High income
21.2%

Users by age

37.5%

27.1%

71.9% 18.8%
Male
10.4%
6.3%

18 -24 years 25-34 years 35-44 years 45-54 years 55-64 years

"How have you conducted payments online in the past 12 months?"; Multi pick; n=2,078
18 Source: Statista Global Consumer Survey, as at October 2019
People with a high income are most likely to use
Mobile POS Payments in France
User demographics: users of mobile POS payments in France

Users by gender Users by income

Medium income
Low income
19.3%
Female
54.5%
High income
26.1%
31.4%

Users by age

33.3%

68.6% 21.9%
20.0%
Male 16.2%

8.6%

18 -24 years 25-34 years 35-44 years 45-54 years 55-64 years

"How have you conducted payments online in the past 12 months?"; Multi pick; n=2,050
19 Source: Statista Global Consumer Survey, as at October 2019
Users of Mobile POS Payments in Spain are
predominantly male
User demographics: users of mobile POS payments in Spain

Users by gender Users by income

Medium income
34.1%

High income
Female Low income 38.4%
27.4%

38.8%

Users by age

27.9% 29.2%
61.2%
Male
18.5%
14.3%
10.1%

18 -24 years 25-34 years 35-44 years 45-54 years 55-64 years

"How have you conducted payments online in the past 12 months?"; Multi pick; n=2,055
20 Source: Statista Global Consumer Survey, as at October 2019
The highest share of Mobile POS Payments users in
Italy are between 35 and 44 years old
User demographics: users of mobile POS payments in Italy

Users by gender Users by income

Medium income

Low income
32.2%
Female 50.7%

High income
33.3% 17.1%

Users by age

30.6%

66.7% 20.6%
18.9% 18.3%
Male
11.7%

18 -24 years 25-34 years 35-44 years 45-54 years 55-64 years

"How have you conducted payments online in the past 12 months?"; Multi pick; n=2,069
21 Source: Statista Global Consumer Survey, as at October 2019
Digital Payments market structure

Segment Sub-segments Out of scope

Consumer transactions made via the Internet which Traditional Bank Transfers
are directly related to online shopping for products
and services. Online transactions can be made via
Digital Commerce various payment methods (credit cards, direct debit,
invoice, or online payment providers, such as PayPal
and Alipay).

Business-to-Business
Payments
Digital Payments

Includes transactions at Point-of-Sale that are

processed via smartphone applications (so-called
“mobile wallets”). Well-known providers of mobile
Mobile POS
wallets are ApplePay and Samsung Pay. The payment Point-of-Sale card
Payments in this case is made by a contactless interaction of payments at mobile card
the smartphone app with a suitable payment
terminal belonging to the merchant.
readers (mPOS terminals)

22
About the Statista Digital Market Outlook

80+ 150+ 7 30,000+

markets locations years (2017–2023) interactive statistics

The Digital Market Outlook presents up-to-date figures on markets of the

digital economy. The comparable key figures are based on extensive analyses
of relevant indicators from the areas of society, economy, and technology.
What is the size of the eCommerce fashion market in Spain?
How much is spent on social media advertising in India?

The answers to these and many more questions can be found in the Statista
Digital Market Outlook. It provides forecasts, detailed market insights, and key
indicators for the digital economy.

Seven digital verticals: eCommerce, Smart Home, Digital Media,

eServices, FinTech, Digital Advertising, eHealth

Direct access & downloads, fully integrated into the Statista database

Market insights, forecasts, and key performance indicators

Outlook reports with segment-specific topics (top companies, trends,

deep dives)

Find out more on www.statista.com/outlook/digital-markets

About the Statista Global Consumer Survey 2020

50+ 55 6,500+ 700,000+

topics & industries countries int. brands interviews
Marketing & Finance & insurance
The Statista Global Consumer Survey offers a global perspective
social media
on consumption and media usage, covering the offline and online
world of the consumer. It is designed to help marketers, planners,
and product managers understand consumer behavior and
consumer interactions with brands. eCommerce & Health
retail
▪ Cross-tabulation
▪ Customized target groups
Food & nutrition Housing & household
▪ Trend and country comparisons equipment
▪ Export in Excel (CSV) or PowerPoint format

Internet & devices Travel

Media & digital media Services & eServices

Mobility Characteristics &

demographics

Find out more on www.statista.com/customercloud/global-consumer-survey

24
About the ecommerceDB
The toolbox for all eCommerce-relevant questions

ecommerceDB.com offers direct access to URL-related revenue

information together with forecasts, customizable top, country,
region and category rankings, KPI analyses, and extensive
eCommerce-relevant contact information to over 10,000 online
stores.

In-depth analysis for over 10,000 online store URLs

Adjustable top, category, country & region

rankings

Download shop profiles for seamless processing

CONTACT US
Direct contact to our eCommerce analysts TEL +49 40 28 48 41 409
E-MAIL sukhdip.mann@statista.com

Find out more on ecommercedb.com

25
About Statista Research & Analysis
Market research – Market Analysis – Data Modeling

Statista Research & Analysis is a provider of comprehensive services in the

fields of market intelligence. Building upon our experience as one of the
world's leading statistics portals, our analyst team can support you in the
collection and evaluation of market, client and competitive information –
tailored to your individual needs. Our team consists of former top tier
management consultants, accomplished market researchers and business
analysts.

Consumer surveys and expert interviews

Market and competitive intelligence

Market sizing and forecasts

CONTACT US
TEL +49 40 282441 805
E-MAIL ra-request@statista.com

Find out more on www.statista-research.com

26
Author

Sofia Zavialova
Analyst Digital Markets

sofia.zavialova@statista.com

Sofia Zavialova graduated from Turku School of Economics at University of

Turku (Finland) with a focus on strategy and international business. She gained
a vast experience in market research and analysis from her work in several
Research institutes in Finland and Denmark, working as a Project Researcher. At
Statista she works on projects related to the digital economy.

www.statista.com