Are you looking to add Payment Analytics to your arsenal of tools? Maybe for your business or personal use only, whatever it is – it’s always a good idea to know more about the most important Payment Analytics statistics of 2024.
My team and I scanned the entire web and collected all the most useful Payment Analytics stats on this page. You don’t need to check any other resource on the web for any Payment Analytics statistics. All are here only 🙂
How much of an impact will Payment Analytics have on your day-to-day? or the day-to-day of your business? Should you invest in Payment Analytics? We will answer all your Payment Analytics related questions here.
Please read the page carefully and don’t miss any word. 🙂
On this page, you’ll learn about the following:
Best Payment Analytics Statistics
☰ Use “CTRL+F” to quickly find statistics. There are total 83 Payment Analytics Statistics on this page 🙂Payment Analytics Market Statistics
- 24% ordered food and drink delivery from the supermarket online because of the pandemic. [0]
- According to online payment market share data by eMarketer, the number of mobile payment users will reach 150 million by 2020, and the total in store mobile payment volume will reach $503 billion in the same year. [0]
- Being an early adopter of P2P payment services, China’s total volume of mobile P2P transactions is predicted to reach a monstrous $6.3 trillion by 2020, dominating a lion share of the global payment gateway market share. [0]
- Putting some specific payment gateway market statistics to the omnichannel trends, 91% of consumers have plans to shop in store, while 84% plan to shop online. [0]
- The market size of these mobile wallet transactionsis predicted to double between 2020 and 2025 in North America, although the Asian market is forecast to be significantly bigger. [1]
Payment Analytics Software Statistics
- IDC estimates that by 2020, 50% of all business software will incorporate some cognitive computing functions. [2]
Payment Analytics Latest Statistics
- The projected percent change in employment from 2020 to 2030. [3]
- The average growth rate for all occupations is 8 percent. [3]
- The percent change of employment for each occupation from 2020 to 2030. [3]
- The projected percent change in employment from 2020 to 2030. [4]
- The average growth rate for all occupations is 8 percent. [4]
- The percent change of employment for each occupation from 2020 to 2030. [4]
- This was the first step towards monetization, as businesses were charged 1.5 percent per transaction, while users can send money to friends for free. [5]
- It has since become the leading source of revenue for Cash App, accounting for 76 percent of its revenue in 2020. [5]
- Cash App generated $12.3 billion revenue in 2021, 81% of that came from Bitcoin. [5]
- 76 percent of Cash App revenue comes from Bitcoin. [5]
- Further, while approximately 20% of all supply chain data is structured and can be easily analyzed, 80% of supply chain data is unstructured or dark data. [2]
- Lenovo uses IBM Sterling Supply Chain Insights with Watson Shrinks its average response time to supply chain disruptions from days to minutes up to 90% faster than before. [2]
- VA released Percent Change in Veteran Population by State from 2000 to 2020The Department of Veterans Affairs provides official estimates and projections of the Veteran population using the Veteran Population Projection Model. [6]
- The “Percent Change in Veteran Population” data table shows the change in the Veteran population from 2000 to 2020 by state. [6]
- During this period, the average decrease in the Veteran population is 25% at the state level. [6]
- 31% of US customers have deliberately ordered restaurant delivery/takeout online because of the COVID. [0]
- 27% of US customers deliberately ordered hygiene products online because of the pandemic. [0]
- 26% deliberately ordered clothing online because of the pandemic. [0]
- 21% ordered health products online because of the pandemic.US Online Payments by Type 2020. [0]
- 55% of US consumers used a credit card for online payments in the past year. [0]
- 52% of US consumers used a debit card in the last 12 months. [0]
- 27% of US consumers used online gateways like Amazon Pay and PayPal. [0]
- Only 25% of US consumers used direct debit for their online transactions. [0]
- 63% of the total digital payment transaction value came from Digital Commerce. [0]
- Mobile POS payments amount to $2 trillion which is around 30% of digital payments value. [0]
- Online Payment Transaction Value 2020 to 2025 From 2020 through 2025, transaction value will likely grow 16.3% in Europe, 15.2% in the US, and $11.2 in China. [0]
- By 2025, it is predicted that the average value per user in the US will be $11,755 for Digital Commerce. [0]
- The oldest members of this cohort are just young adults or teens, and the group was projected to represent 40% of total US consumers by 2020. [0]
- A third of Gen Z ers want to share their online payments on social media, compared to only 3% of baby boomers. [0]
- 69% of Gen Z ers use mobile banking apps daily or weekly, while only 17% of baby boomers are interested in using mobile banking apps. [0]
- Online payment statistics intimate that 82% of Generation Z consumers who own a smartphone shop online. [0]
- Also, studies have shown that while 33% of millennials use cash, but only 18% of Gen Z. [0]
- Moreover, 58% of Generation Z have made an impulsive mobile purchase. [0]
- Studies have also found that when it comes to online shopping, 80% of Generation Z are influenced by social media. [0]
- Only 3.6% of US consumers engaged in voice commerce for retail and grocery products in 2018. [0]
- Voice commerce became more popular in 2019 with a share of 6.2%. [0]
- In 2020, the figure rose to 6.7%. [0]
- Smart speakers owners use them for different purposes including play music (97%), weather and news (94%), general questions (90%), reminder (87%), creating shopping lists (71%), make a purchase (62%), enabling smart home devices (57%), and email/calls (55%). [0]
- A study by Transaction Network Services found that 26% of consumers that own smart voice assistant devices have used them to make a payment. [0]
- Also, it’s noted that 34% of consumers in the United States have already purchased food using a voice assistant, while 35% say that given an opportunity, they would use voice assistants to buy food online. [0]
- According to OC&C Strategy Consultants, 36% of US consumers make a purchase via voice assistants. [0]
- Also, OC&CS Strategy Consultants reckons that Amazon dominates the voice shopping space accounting for approximately 90% of total spend. [0]
- Online payment data has shown that in 2024, 31% of consumers in the United States will have used a voice assistant to make payments. [0]
- One alarming statistic is that 74% of consumers state that they are not open to making payments through voice assistants because of security concerns. [0]
- Online payment statistics by Accenture intimates that 68% of Gen Z ers are delighted by instant P2P payments, more than any other demographic groups. [0]
- Zelle report that 80% of US consumers have used a P2P payment service, with 50% of new users being people aged 45 years or older. [0]
- By the end of 2020, 52.5% of US smartphone owners will have made more than one P2P transactions. [0]
- 85% – the global share of customers who shopped online in 2020. [0]
- Asia (86%) and South America (86%). [0]
- Europe has 83% while Australia (79%) and North America (78%). [0]
- Besides, 75% of consumers plan to shop both in stores and online. [0]
- According to WorldPay, omnichannel shoppers spend up to 300% more than those shopping on a single channel. [0]
- 61 % of consumers are for the idea of openly accessing their finances so they can view credit card and bank account balances when making payments via a mobile app. [0]
- Most consumers, including 70% of Gen Z ers and Millennials, have shown interest in digital payments consultancy and expense management services that enable them to better understand and control their spending. [0]
- 50% of Gen Zers and Millennials are willing to share their online bank account details with third. [0]
- In the US, Millennials (46%). [0]
- Gen Z and Gen X follow closely in a tie at second with 46% each. [0]
- Only 22% of Boomers and 8% of those beyond Boomers use digital or mobile wallets. [0]
- 23% of consumers in the US are willing to give up their digital banking app for a mobile wallet to consolidate all payment information in a single location. [0]
- 75% of consumers in the US use digital wallets because they’re more comfortable than carrying around credit cards. [0]
- As Accenture predicts, in 2020, 64% of consumers will be using a mobile wallet, up from 46% in 2017. [0]
- It’s estimated that over 110 million adults in the US say they’ve swapped credit and cash for a mobile wallet at least once. [0]
- At 28%, bank mobile wallets have a lower penetration rate, compared to the merchant’s wallets (39%). [0]
- The top reason for using a mobile wallet include convenience (74%), easy to track expenditure (25%), easy to carry (25%), and greater security (23%). [0]
- More men (48%). [0]
- According to Frost & Sullivan forecast, 950 million consumers in China will be using a mobile wallet by 2024. [0]
- Besides, eMarketer predicts that 79.3% of Chinese smartphone users will be scanning, swiping, and tapping at the point of sale by 2021. [0]
- Machine learning can help payment providers increase revenue from their existing customer by up to 15%. [0]
- In addition, machine learning can help businesses reduce bad debt provision by up to 40%. [0]
- According to a payment gateway research by Juniper Research, AI chatbots are predicted to help the financial sector achieve $8 billion in cost savings by 2024. [0]
- For example, businesses should focus on emerging trends such as social payments, tabletop payment systems, and wearable payment devices, like Apple Watch and others, which have recorded a staggering 177% growth rate in recent years. [0]
- Study 80% of Gen Z purchases influenced by social media. [0]
- An event study methodology is used to estimate the difference in spending from the typical level prior to the pandemic declared by the World Health Organization on March 11, 2020. [7]
- This same estimate also assumes active iPhones grew by nine percent during 2020, alongside a worldwide increase of contactless payments in the wake of the COVID. [1]
- In 2021, China had the highest penetration rate for in store mobile payments in the world– although it is unlikely Apple Pay plays a major role here given the local popularity of apps like Alipay and Tenpay. [1]
- In my latest report I see that only 3% of all people starting the booking process, actually return from the. [8]
- I assume that there are a few you will loose once you have to enter the credit card, but 97% drop sounds too high for me. [8]
I know you want to use Payment Analytics Software, thus we made this list of best Payment Analytics Software. We also wrote about how to learn Payment Analytics Software and how to install Payment Analytics Software. Recently we wrote how to uninstall Payment Analytics Software for newbie users. Don’t forgot to check latest Payment Analytics statistics of 2024.
Reference
- financesonline – https://financesonline.com/online-payments-statistics/.
- statista – https://www.statista.com/topics/4322/apple-pay/.
- ibm – https://www.ibm.com/topics/supply-chain-analytics.
- bls – https://www.bls.gov/ooh/business-and-financial/management-analysts.htm.
- bls – https://www.bls.gov/ooh/math/operations-research-analysts.htm.
- businessofapps – https://www.businessofapps.com/data/cash-app-statistics/.
- va – https://www.va.gov/vetdata/.
- bea – https://www.bea.gov/recovery/estimates-from-payment-card-transactions.
- stackoverflow – https://stackoverflow.com/questions/41995193/google-analytics-track-payment-errors-customer-not-returning-after-payment.
How Useful is Payment Analytics
One of the most significant benefits of payment analytics is its ability to help businesses make informed decisions based on real-time data. By carefully analyzing payment information, businesses can identify and capitalize on opportunities for growth, as well as mitigate risks and challenges. For example, payment analytics can help businesses identify customer preferences, track sales trends, and optimize pricing strategies to maximize profitability.
Moreover, payment analytics can provide valuable insights into fraud detection and prevention. By monitoring payment patterns and identifying anomalous transactions, businesses can proactively detect and prevent fraudulent activities. This not only helps protect businesses from financial losses but also maintains customer trust and loyalty.
Another advantage of payment analytics is its ability to streamline business operations and improve efficiency. By automating the payment process and integrating payment data with other business systems, businesses can optimize workflow, reduce errors, and enhance overall productivity. Payment analytics can also help businesses identify bottlenecks in the payment process and implement solutions to improve customer satisfaction and retention.
Furthermore, payment analytics can enable businesses to stay competitive in today’s fast-paced marketplace. By leveraging payment data to refine marketing strategies, evaluate the effectiveness of promotions, and analyze customer acquisition costs, businesses can gain a competitive edge and drive growth. In a crowded marketplace where customer loyalty is paramount, payment analytics can help businesses tailor their offerings to meet customer needs and preferences, ultimately leading to increased sales and profitability.
It is important to note that the benefits of payment analytics extend beyond financial matters. By leveraging payment data to gain insights into customer behavior, businesses can enhance the overall customer experience. For example, businesses can use payment analytics to personalize marketing messages, offer targeted promotions, and provide seamless payment experiences across multiple channels. By understanding customer preferences and expectations, businesses can build long-lasting relationships with their customers and foster brand loyalty.
In conclusion, payment analytics is a valuable tool for businesses looking to gain a competitive edge, optimize operations, and drive growth. By leveraging payment data to gain insights into customer behavior, market trends, and business performance, businesses can make informed decisions and stay ahead of the curve. In today’s data-driven economy, payment analytics is not just useful – it is essential for businesses that want to succeed in the digital age.
In Conclusion
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We tried our best to provide all the Payment Analytics statistics on this page. Please comment below and share your opinion if we missed any Payment Analytics statistics.