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Global Alternative Online Payment Methods Analysis 2024: Digital Wallets, BNPL, QR Codes, and Instant Payments Drive Online Purchasing Surge Worldwide

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DUBLIN, Feb. 28, 2024 /PRNewswire/ — The “Global Alternative Online Payment Methods 2024” report has been added to  ResearchAndMarkets.com’s offering.

Accelerated by the pandemic’s impact on cash usage, the global transition to digital means of payment has become a post-pandemic norm. Digital wallets, a frontrunner in this shift, are projected to witness substantial growth, with a transaction value set to surpass EUR 10 trillion by 2028, nearly doubling from 2023.

Notably, countries in the Asia-Pacific region lead the charge in digital payment adoption, with China boasting almost half of adults using digital wallets daily in May 2022 and India’s mobile wallet payment value projected to reach more than EUR 5 billion by 2027.

Real-time payments to witness significant growth globally by 2027

Real-time payments are gaining global popularity as a digital cash replacement. Across the world, the volume of real-time payments in Latin America is expected to almost quadruple by 2027, showcasing a growing preference for this online payment type.

The report also highlights the emergence of innovative payment options such as account-to-account (A2A) payments and BNPL services. A2A payments, utilizing open banking technology, remain in a nascent stage, with a little over 5% of surveyed Europeans claiming regular usage as of September 2022. Meanwhile, globally, around one quarter of respondents favor BNPL as their preferred online payment method, particularly among Gen Z and millennials in North America.

Although new players like Apple have entered the BNPL market with services like Apple Pay Later, mass adoption is anticipated to take time. As online purchasing trends continue to rise globally, consumers increasingly seek frictionless and secure payment options, leading to the expansion of digital wallets, BNPL services, QR code payments, and instant payments.

Questions Covered in the Report:

What is the forecasted transaction value of digital wallets globally by 2028?How does e-wallet use vary in different countries worldwide?How is BNPL adoption projected to develop globally by 2027?How is the number of real-time payment transactions projected to develop in different countries globally by 2027?

Company Coverage:

AffirmAfterpayAppleBancontactCliQFawryGoogleiDEALJoMoPayKlarnaMACHMobile SuicaPayconiqPayPalPixQIWISamsungSofortStatisPayVenmoYapeYoo MoneyZelle

Key Topics Covered:

1. Key Takeaways

2. Global Developments

Preferred Online Payment Methods For E-Commerce Purchases, in % of Adults, June 2022Preferred Payment Method When Shopping Online, in % of Respondents, October 2022Use of Credit Card Stored in a Mobile Wallet For Online Purchases, by Product Category, in % of Online Shoppers, April 2023Use of Digital Wallet For Online Purchases, by Product Category, in % of Online Shoppers, April 2023Use of eCash For Online Purchases, by Product Category, in % of Online Shoppers, April 2023Use of Cryptocurrency For Online Purchases, by Product Category, in % of Online Shoppers, April 2023Use of Pay-By-Instalments Plan For Online Purchases, by Product Category, in % of Online Shoppers, April 2023Breakdown of Online Shoppers’ Feelings Towards Select Alternative Payment Methods At Online Checkout, in % of Online Shoppers, April 2023Value of Contactless Card Transactions, in USD trillion, 2022e & 2027fVirtual Card Transaction Value, in USD trillion, 2022e & 2027fBNPL B2C E-Commerce Sales, in USD billion, 2022e & 2027fNumber of BNPL Users, in millions, 2022e & 2027fValue of Digital Wallet Transactions, in USD trillion, 2023e & 2028fTotal Number of OEM Pay E-Commerce Transactions, in USD billion, Growth in Transactions, in %, & Average Transaction Volume Per OEM Pay User, in USD, 2026fShare of OEM Pay E-Commerce Transactions Stemming From Purchases of Digital Goods, in %, 2026fMost Accessible vs Most Preferred Online Payment Method, in % of Adults, June 2022Share of Consumers Agreeing With the Following Statements Related to Security of Online Payment, in %, April 2023Share of Consumers Agreeing With the Following Statements Related to Digital and Mobile Wallets, in %, April 2023QR Code Payment Transaction Value, in USD billion, 2023e & 2028fCryptocurrency Payment Value, in USD billion, 2020-2025f

3. Asia-Pacific

3.1. Regional

3.2. Advanced Markets
3.2.1. Japan
3.2.2. South Korea
3.2.3. Australia
3.2.4. New Zealand
3.2.5. Singapore

3.3. Emerging Markets
3.3.1. China
3.3.2. Taiwan
3.3.3. Hong Kong
3.3.4. India
3.3.5. Indonesia
3.3.6. Vietnam
3.3.7. Malaysia

4. North America

4.1. Regional
4.2. USA
4.3. Canada

5. Europe

5.1. Regional

Payment Methods That Were Used at Least 5 Times a Month, in % of Respondents, September 2022Breakdown of Number and Value of Online Payments, by Payment Instrument, in % of All Online Payments, June 2022Share of Shoppers Who Use PayPal For Online Payments, by Select Countries, in %, 2022

5.2. UK
5.3. Germany
5.4. France
5.5. Spain
5.6. Italy
5.7. Netherlands
5.8. Sweden
5.9. Belgium
5.10. Austria
5.11. Poland
5.12. Portugal

6. Latin America

6.1. Regional

Share of Alternative Payment Methods Making Up Total B2C E-Commerce Volume, in %, 2022eReal-Time Payments Volume, in billions, 2022 & 2027fReal-Time Payments Share of Total Electronic Payments, in %, 2022 & 2027f

6.2. Brazil
6.3. Mexico
6.4. Argentina
6.5. Colombia
6.6. Chile
6.7. Dominican Republic
6.8. Peru

7. Middle East & Africa

7.1. Regional

Share of Digital Wallets Making Up Total Online Spending, in %, 2023eReal-Time Payments Volume, in billions, 2022 & 2027fReal-Time Payments Share of Total Electronic Payments, in %, 2022 & 2027fBreakdown of Payment Methods Used in B2C E-Commerce, in %, 2025fCAGR of Electronic Payment Methods, in %, 2020-2025f

7.2. UAE
7.3. Saudi Arabia
7.4. Jordan
7.5. South Africa
7.6. Egypt
7.7. Nigeria

For more information about this report visit https://www.researchandmarkets.com/r/72o06t

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

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Research and Markets
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SOURCE Research and Markets

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Waters Corporation to Host Investor Day on March 5, 2025

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MILFORD, Mass., Jan. 10, 2025 /PRNewswire/ — Waters Corporation (NYSE:WAT) announced that it will host an Investor Day on Wednesday, March 5th, 2025, in New York City, starting at 8:30 AM ET.

The event will feature presentations by members of the senior management team, who will discuss business initiative achievements, new strategic priorities, and our vision for future shareholder value creation. A Q&A session will follow.

In-Person Attendance
To request in-person attendance at this event, please click here or visit the Waters Investor Relations website at https://ir.waters.com, under ‘Events’.

Webcast
A live webcast will be available the day of the event. To register for the webcast, please click here or visit the Waters Investor Relations website at https://ir.waters.com, under ‘Events’. A replay of the webcast will be available shortly after the event concludes.

About Waters Corporation
Waters Corporation (NYSE:WAT), a global leader in analytical instruments and software, has pioneered chromatography, mass spectrometry, and thermal analysis innovations serving the life, materials, food, and environmental sciences for more than 65 years. With approximately 7,500 employees worldwide, Waters operates directly in 35 countries, including 15 manufacturing facilities, and with products available in more than 100 countries.

Caspar Tudor, Head of Investor Relations
investor_relations@waters.com

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SOURCE Waters Corporation

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As Retail Cybercrime Surges, Plank Road Ventures To Present Technology Solutions At NRF 2025 Big Show

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HOBOKEN, N.J., Jan. 10, 2025 /PRNewswire/ — Credit cards and other non-cash payment methods now account for some 80% of purchasing activity, according to some reports. It’s convenient for consumers, but each retail transaction may expose vital shopper information to nation-state and other cybercriminals. Consumers are inconvenienced, while retailers may suffer reputational and financial damage.

To combat the upsurge in digital incursions, Plank Road Ventures — an eMazzanti Technologies company — will present artificial intelligence, cybersecurity best-practice and other retail solutions at the NRF (National Retail Federation) 2025 Retail’s Big Show at Booth 2306, in the Startup Hub of New York City’s Jacob K. Javits Convention Center from January 12 through January 14, 2025.

“The rise in credit card, digital and other payment methods have made retailers a rich target for cyberthieves,” warns eMazzanti Technologies President Carl Mazzanti. “POS systems, for example, can store customer information and purchase history, enabling retailers to capture the information they need to inform targeted marking campaigns and personalized shopping experiences. But POS transactions also pose an attractive target for cybercriminals, and a successful data breach will have far-reaching consequences.”

Plank Road Ventures, a global managed services provider, partners with leading companies like Microsoft, Watchguard, HP, and I3 Communications to help retailers deploy technology that improve and secure their operations and store strategies, while enhancing customer experience and engagement. Retailers can meet with trained professionals from Plank Road Ventures at the NRF 2025 Retail’s Big Show, and learn about leading-edge POS and other solutions.

About eMazzanti Technologies
eMazzanti’s team of trained, certified IT experts deliver rapid response, increased revenue growth, data security, and productivity for organizations of all sizes. The firm offers cloud and mobile solutions, multi-site technology implementations, outsourced network management, 24 x 7 support, digital marketing services, and cyber security assessments and protection services.

About Plank Road Ventures
Our team of experienced retail experts works with clients to understand their specific requirements and recommend the best options. Specializing in store operations and support, the team is available 24x7x 365.

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SOURCE Plank Road Ventures

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Kevin Lanouette Named Senior Vice President and General Counsel

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BEDFORD, Mass., Jan. 10, 2025 /PRNewswire/ — iRobot Corp. (NASDAQ: IRBT), a leader in consumer robots, today announced that Kevin Lanouette has been named Senior Vice President and General Counsel, effective January 17, 2025. Tonya Drake, the Company’s Executive Vice President and General Counsel, will transition to an advisory role ending March 7, 2025.

“I’d like to thank Tonya for her many years of service to iRobot,” said Gary Cohen, iRobot CEO. “Her legacy of tenacity and rigor in protecting the iRobot Company and our brand has been exemplary.”

“Kevin is a seasoned and highly skilled attorney whose experience in advising on complex corporate and securities, commercial, M&A and IP protection matters will be invaluable as we execute our strategic initiatives and work toward a return to profitable growth,” said Cohen.

Formerly, Mr. Lanouette was a Partner at OutsideGC, a Boston-based law firm, where he specialized in providing strategic legal counsel to clients at all stages of development and across a broad range of industries, including technology development, software and services and healthcare. Previously, he served as Assistant General Counsel at Analog Devices, Inc., a leading global semiconductor manufacturer, from 2006 to 2020, where he had responsibility for several critical legal functions, including corporate, SEC and securities matters, IP licensing and technology transfers, M&A and investments, global commercial transactions, and governance and compliance issues.

He is a graduate of the University of Maine and Harvard Law School.

About iRobot Corp.
iRobot is a global consumer robot company that designs and builds thoughtful robots and intelligent home innovations that make life better. iRobot introduced the first Roomba robot vacuum in 2002. Today, iRobot is a global enterprise that has sold more than 50 million robots worldwide. iRobot’s product portfolio features technologies and advanced concepts in cleaning, mapping and navigation. Working from this portfolio, iRobot engineers are building robots and smart home devices to help consumers make their homes easier to maintain and healthier places to live. For more information about iRobot, please visit www.irobot.com

For iRobot Investors
Certain statements made in this press release that are not based on historical information are forward-looking statements which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. This press release contains express or implied forward-looking statements relating to iRobot Corporation’s expectations concerning executive transitions and execution of the company’s strategy. These statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. iRobot undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise. For additional disclosure regarding these and other risks faced by iRobot, see the disclosure contained in our public filings with the Securities and Exchange Commission including, without limitation, our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

 

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SOURCE iRobot Corporation

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