Payment Gateways Statistics 2024 - Everything You Need to Know

Are you looking to add Payment Gateways 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 Gateways statistics of 2024.

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How much of an impact will Payment Gateways have on your day-to-day? or the day-to-day of your business? Should you invest in Payment Gateways? We will answer all your Payment Gateways related questions here.

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On this page, you’ll learn about the following:

Best Payment Gateways Statistics

Best Payment Gateways Statistics

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Payment Gateways Usage Statistics

North Americans’ debit card usage is projected to be stagnant from 2018 (19%) to 2024 (19%). ^[0]
Business use of the cards is expected to grow by over 90 percent through the next few years, and usage is anticipated to surpass $1.6 trillion by the year 2024. ^[1]
More than 30% of business executives expect their check usage to decrease, while ePayables with virtual cards are expected to see the greatest leaps at 37%. ^[1]

Payment Gateways Market Statistics

24% ordered food and drink delivery from the supermarket online because of the pandemic. ^[2]
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. ^[2]
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. ^[2]
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. ^[2]
Consensus projections see the North American eCommerce market growing at a healthy sustained rate of between 9% and 10% annually through 2024. ^[0]
Credit cards ranked second with a 23 percent market share in 2020, a figure which is projected to decline in the coming years. ^[3]
MasterCard had a market share of 95 percent in the Netherlands in 2018, for example, but made up 12 percent of the market in Germany. ^[4]
The market share of contactless payments across different European countries, was, for example, 83 percent in Poland and 50 percent in Italy. ^[4]
Jul 2021 estimated annual growth rate of global mobile payment market between 2021. ^[5]
According to Jupiter Research, the Far East & China has a market size of nearly $4 trillion for all it’s mobile wallet transactions, and this is estimated to rise by 59% to $5.7 trillion by 2025. ^[5]
The UK represents the leading digital payments market in Europe and grew by 40% since the pandemic started. ^[5]
Buy now, pay later continues to earn market share globally, expecting to double from 2.1% in 2020 to 4.2% by 2024. ^[5]
The total transaction value of the digital payments market is projected to be worth USD 11.29 trillion by 2026, up from USD 5.44 trillion in 2020 and registering a CAGR of 11.21% during the period of 2021. ^[5]
According to Datanyze data, Stripe has a 15.49% market share in the payment processing category, when ranked by the number of websites using the software. ^[6]
According to Forbes Magazine, Stripe is valued at $115 billion in “secondary market” transactions. ^[6]
The global payment gateway market size was valued at USD 22.09 billion in 2021 and is expected to expand at a compound annual growth rate of 22.1% from 2024 to 2030. ^[7]
The hosted segment dominated the market in 2021 and accounted for more than 57.0% share of the global revenue. ^[7]
The large enterprise segment dominated the market in 2021 and accounted for more than 56.0% share of the global revenue. ^[7]
Enduse Insights The retail and e commerce segment dominated the market in 2021 and accounted for more than 25.0% share of the global revenue. ^[7]
Regional Insights North America dominated the market in 2021 and accounted for more than 36.0% share of the global revenue. ^[7]
The global payment gateway market size was estimated at USD 22.09 billion in 2021 and is expected to reach USD 26.79 billion in 2024. ^[7]
The global payment gateway market is expected to grow at a compound annual growth rate of 22.1% from 2024 to 2030 and is expected to reach USD 132.24 billion by 2030. ^[7]
The hosted segment led the payment gateway market and accounted for more than 57.0% share of the global revenue in 2021. ^[7]
The US mobile payment market increased 41% from $69.8 billion in 2018 to $98.8 billion in 2019. ^[1]
There is increasing focus on B2B e commerce market sales, currently rising at 7.7 percent CAGR and forecast to reach $1.13 trillion by 2020. ^[1]
It covers over 90% of the US banking market and 98% of all commercial accounts, and is used by over 130,000 businesses today. ^[1]

Payment Gateways Software Statistics

According to Datanyze data, Stripe has a 15.49% market share in the payment processing category, when ranked by the number of websites using the software. ^[6]

Payment Gateways Adoption Statistics

However, the US saw the greatest increase in adoption within the two year period, rising from 29% to 43.2% and overtaking India. ^[5]
Despite lagging behind the global averages in digital/mobile wallet adoption, in the US 29.8% of e commerce transactions were made using digital wallets during 2021, up 23.7% from 2019 levels. ^[5]
With mobile adoptions rates of 85%, 84% and 71%, respectively, these three countries changed much more due to the Covid 19 pandemic than countries like the UK and US. ^[5]
A study by McKinsey found that average digital adoption rates across Europe rose from 81% to 94% during the pandemic, accounting for up to three years of growth. ^[5]

Payment Gateways Latest Statistics

31% of US customers have deliberately ordered restaurant delivery/takeout online because of the COVID. ^[2]
27% of US customers deliberately ordered hygiene products online because of the pandemic. ^[2]
26% deliberately ordered clothing online because of the pandemic. ^[2]
21% ordered health products online because of the pandemic.US Online Payments by Type 2020. ^[2]
55% of US consumers used a credit card for online payments in the past year. ^[2]
52% of US consumers used a debit card in the last 12 months. ^[2]
27% of US consumers used online gateways like Amazon Pay and PayPal. ^[2]
Only 25% of US consumers used direct debit for their online transactions. ^[2]
63% of the total digital payment transaction value came from Digital Commerce. ^[2]
Mobile POS payments amount to $2 trillion which is around 30% of digital payments value. ^[2]
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. ^[2]
By 2025, it is predicted that the average value per user in the US will be $11,755 for Digital Commerce. ^[2]
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. ^[2]
A third of Gen Z ers want to share their online payments on social media, compared to only 3% of baby boomers. ^[2]
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. ^[2]
Online payment statistics intimate that 82% of Generation Z consumers who own a smartphone shop online. ^[2]
Also, studies have shown that while 33% of millennials use cash, but only 18% of Gen Z. ^[2]
Moreover, 58% of Generation Z have made an impulsive mobile purchase. ^[2]
Studies have also found that when it comes to online shopping, 80% of Generation Z are influenced by social media. ^[2]
Only 3.6% of US consumers engaged in voice commerce for retail and grocery products in 2018. ^[2]
Voice commerce became more popular in 2019 with a share of 6.2%. ^[2]
In 2020, the figure rose to 6.7%. ^[2]
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%). ^[2]
A study by Transaction Network Services found that 26% of consumers that own smart voice assistant devices have used them to make a payment. ^[2]
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. ^[2]
According to OC&C Strategy Consultants, 36% of US consumers make a purchase via voice assistants. ^[2]
Also, OC&CS Strategy Consultants reckons that Amazon dominates the voice shopping space accounting for approximately 90% of total spend. ^[2]
Online payment data has shown that in 2024, 31% of consumers in the United States will have used a voice assistant to make payments. ^[2]
One alarming statistic is that 74% of consumers state that they are not open to making payments through voice assistants because of security concerns. ^[2]
Online payment statistics by Accenture intimates that 68% of Gen Z ers are delighted by instant P2P payments, more than any other demographic groups. ^[2]
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. ^[2]
By the end of 2020, 52.5% of US smartphone owners will have made more than one P2P transactions. ^[2]
85% – the global share of customers who shopped online in 2020. ^[2]
Asia (86%) and South America (86%). ^[2]
Europe has 83% while Australia (79%) and North America (78%). ^[2]
Besides, 75% of consumers plan to shop both in stores and online. ^[2]
According to WorldPay, omnichannel shoppers spend up to 300% more than those shopping on a single channel. ^[2]
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. ^[2]
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. ^[2]
50% of Gen Zers and Millennials are willing to share their online bank account details with third. ^[2]
In the US, Millennials (46%). ^[2]
Gen Z and Gen X follow closely in a tie at second with 46% each. ^[2]
Only 22% of Boomers and 8% of those beyond Boomers use digital or mobile wallets. ^[2]
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. ^[2]
75% of consumers in the US use digital wallets because they’re more comfortable than carrying around credit cards. ^[2]
As Accenture predicts, in 2020, 64% of consumers will be using a mobile wallet, up from 46% in 2017. ^[2]
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. ^[2]
At 28%, bank mobile wallets have a lower penetration rate, compared to the merchant’s wallets (39%). ^[2]
The top reason for using a mobile wallet include convenience (74%), easy to track expenditure (25%), easy to carry (25%), and greater security (23%). ^[2]
More men (48%). ^[2]
According to Frost & Sullivan forecast, 950 million consumers in China will be using a mobile wallet by 2024. ^[2]
Besides, eMarketer predicts that 79.3% of Chinese smartphone users will be scanning, swiping, and tapping at the point of sale by 2021. ^[2]
Machine learning can help payment providers increase revenue from their existing customer by up to 15%. ^[2]
In addition, machine learning can help businesses reduce bad debt provision by up to 40%. ^[2]
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. ^[2]
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. ^[2]
Study 80% of Gen Z purchases influenced by social media. ^[2]
The preferred payment method of global online shoppers is eWallets (36%), followed by credit cards (23%) and debit cards (12%). ^[0]
According to Worldpay’s Global Payments Report, the most common eCommerce payment trends broken down by region are 4. ^[0]
North America—Credit cards top the list of commonly used payment methods, at 34% in 2018, but will fall to second place in 2024 (27%), after eWallets (33%). ^[0]
Latin America—Credit cards topped the list in 2018 (45%) and are predicted to remain there but with more diversification by 2024 (29%). ^[0]
Asia Pacific—eWallets topped the list in 2018 (52%) and are predicted to remain there in 2024 (66%). ^[0]
Europe, Middle East, and Africa—eWallets topped the list in 2018 (21%) and are predicted to remain there in 2024 (24%). ^[0]
57% of U.S. shoppers use Visa as their credit card of choice. ^[0]
16% of North Americans use cash while shopping in person. ^[0]
POS cash transactions in North America are expected to fall to 11% by 2024. ^[0]
use will grow rapidly moving toward the Global Average (47%). ^[0]
The eWallet is projected to top the list of commonly used payments in North American eComm at 33% by 2024. ^[0]
Apple Pay is currently supported by 65% of US retail locations and growing quickly. ^[0]
As previously mentioned, in 2018 non cash transactions conducted by eWallets were estimated to a total of $41.8 billion. ^[0]
71% of these transactions were conducted by payment applications and eWallets offered by big tech. ^[0]
One third of North American Gen Z consumers want to share their payments on social media while only 3% of Baby Boomers would. ^[0]
27% of consumers own a voice activated device as of 2018, up 14% from the previous year. ^[0]
By 2020, 82% of North American retailers are expected to accept Apple Pay. ^[0]
Available to download in PNG, PDF, XLS format 33% off until Jun 30th. ^[8]
81.1% of smartphone users in China use mobile payment options, compared to 29% in the US and 19.1% in the UK. ^[9]
A survey from Pew found that respondents were more likely to think that mobile payments were poorly protected (38%) compared to debit (22%) and credit cards (9%). ^[9]
In 2020, digital and mobile wallets accounted for roughly 45 percent of global e commerce payment transactions, making the digital wallet by far the most popular online payment method worldwide. ^[3]
This share is set to increase to over 50 percent in 2024. ^[3]
For instance, the digital or mobile wallet was most popular in the Asia Pacific Region , where it accounted for approximately 60 percent of e commerce transactions in 2020. ^[3]
In contrast, this method’s transaction share amounted to only about 20 percent in Latin America. ^[3]
Approximately 30 percent of online shoppers in the UK made payments using debit cards, while U.S. shoppers had a clear preference for credit cards in 2020. ^[3]
Share of selected payment methods as percentage of total e commerce transaction volume worldwide in 2020, with a forecast for 2024. ^[3]
Available to download in PNG, PDF, XLS format 33% off until Jun 30th. ^[3]
Whilst 98 percent of Sweden’s adult population indicated they owned a debit card in 2017, this figure was 83 percent for Portuguese adults. ^[4]
According to figures from a survey released in early 2021 on 2019 only the second iteration of a Europesurvey that investigates the use of coins and banknotes cash was used most in southern Europe, as well as in Germany, Austria and Slovakia. ^[4]
10 Mobile Payment Facts Global Mobile Payment Data & Statistics worldwide retail ecommerce sales in 2021 Retail e commerce sales worldwide were forecasted to climb 16.8% this year, to $4.921 trillion. ^[5]
India, Brazil, Russia, and Argentina are among the countries with the most ecommerce growth, with each of them projected to post at least 26% growth in retail e commerce sales this year. ^[5]
Digital wallets remain the payment method of choice among global ecommerce consumers, accounting for 44.5% of e commerce transaction volume in 2020, up 6.5% from 2019 Worldpay Report 2021. ^[5]
China is the leader when it comes to mobile payments, with 87.3% of the population reported to use contactless payment methods. ^[5]
Over the last two years, this growth was accelerated, increasing by over 16% from the second quarter of 2020. ^[5]
Europe is predicted to increase mobile wallet transactions by 277% from $188 billion in 2020 to $708 billion in 2025. ^[5]
This number is expected to continue growing to a projected 125 million by 2025, account for over 50% of smarthphone users in the country. ^[5]
It also controls the majority of sales for books/music/video (83.2% in 2021) and computer/consumer electronics (50.2%). ^[5]
Worldpay’s 2021 Global Payment Report forecasts that digital and mobile wallets will account for nearly half of all POS payments in the APAC region, at 47.9%. ^[5]
Usage of debit and credit cards will increase marginally, but likely as a result of a fall in popularity for cash payments which are predicted to drop from 19.2% in 2020 to only 10.8% in 2024. ^[5]
In China, over 87% of smartphone users ages 14 and older used mobile devices for pointof. ^[5]
In the US this was only 43%. ^[5]
2021 of transactions made with physical cash by 2024 in Hong Kong Usage of notes and coins will be the lowest in the Asia Pacific region, and it is an expected decline down from 9% in 2019 Forbes Publication Date. ^[5]
Post COVID 19 , 87% of mobile internet users in China paid via mobile in 2021, while South Korea and the US were second and third highest. ^[5]
This is an expected surge in value of 28.3% for all digital payments in 2021. ^[5]
By 2025, their transaction value is forecast to leap by another 60% to $439 billion. ^[5]
Mar 2021 estimated average annual growth of ecommerce transaction in Europe to 2024 Of the 15 countries in Europe surveyed for Worldpay’s 2021 report, it is projected that e commerce will grow at over 10% each year until at least 2024. ^[5]
They also found that more than 70% of European consumers plan to use digital services as much or more after the pandemic subsides. ^[5]
By 2024, it is projected to nearly double its share to account for 13.6% of e commerce spending, becoming the fourth most popular payment method behind mobile wallets, credit cards, and debit cards. ^[5]
UK Payment Markets 2021 of the UK population estimated to use mobile proximity payments by 2025. ^[5]
The number of UK mobile proximity payment users is expected to grow from 19.9% of the population in 2021 to 24.1% by 2025. ^[5]
While 2020 saw a large increase of 25%, partly due to the Covid 19 pandemic, the growth in coming years is projected to not be so drastic. ^[5]
It is likely that over a billion contactless transactions will take place every month in 2024 in the UK. ^[5]
In Q1 2021 35.5% of retail sales in the UK were done online compared to 20.6% in Q1 2020. ^[5]
Digital and mobile wallets are expected to account for over half (51.7%). ^[5]
Mobile wallets are already by far the preferred payment method in the Asia Pacific region, where they are projected to make up 47.9% of POS transactions in 2024. ^[5]
While mobile payments saw a large increase in popularity through 2020 and 2021, the Covid 19 pandemic also accelerated the decline of cash by a predicted 3 years. ^[5]
Cash was used for 20.5% of global POS volume in 2020, a 32.1% reduction from 2019, whilst mobile payments increased by rising 19.5%. ^[5]
Despite the increase in mobile payment popularity, checks still accounted for 29% of B2B transactions in 2019, with two thirds of those checks issued by small and midsize businesses. ^[5]
With the rise in mobile payments and a change in how consumers choose to spend their money, cash transactions are set to witness a major fall from 20.5% in 2020 to 12.7% in 2024. ^[5]
Salesforce estimates that global online sales spiked 71% year on year in Q2 2020. ^[5]
74% of global consumers said they would keep using contactless payment methods beyond the pandemic. ^[5]
42% Electronic payment 39% Debit cards 28%. ^[10]
Bank transfers 20% Gift cards or. ^[10]
vouchers 15% Mobile payment 14% Cryptocurrencies. ^[10]
According to BuiltWith data, 3,124,751 live websites accept payments on their site using Stripe. ^[6]
According to CB Insights data, Stripe has raised a total of $2.2 billion across 21 funding rounds. ^[6]
According to CB Insights estimates, payments made through Stripe totaled $350 billion as of 2020. ^[6]
An increase of 133% when compared with an estimated $150 billion in 2019. ^[6]
In fact, from 2015 2020, Stripe’s payment volume has experienced a compound annual growth rate of 104%. ^[6]
And over the past 5 years, Stripe’s payment processing volume has seen a minimum 50% growth rate each year, with the highest rate of 150% coming in 2017. ^[6]
Here’s the table with estimated Stripe processing volume growth since 2015. ^[6]
The standard rate that Stripe charges is is 2.9% of the transaction + 25 cents. ^[6]
According to the Wall Street Journal, Stripe registered $7.4 billion in annual revenue in 2020. ^[6]
Stripe’s annual revenue grew by 393% in 2020 compared with $1.5 billion in 2018. ^[6]
According to CB Insights data, Stripe has acquired a total of 11 companies since 2013. ^[6]
Stripe customers are able to set a percentage (between 0.1% and 5%). ^[6]
According to Stripe co founder John Collison, the company has 40+ businesses among its customers, with more than $1 billion payment volume each. ^[6]
The payment volume of Stripe enterprise clients is showing more than 2x increase year over year, according to company data. ^[6]
According to the Stripe CEO, 20,000 companies have been incorporated using Stripe Atlas, generating over $3 billion in revenue. ^[6]
An increase of 166% from the 1500+ employees reported in mid 2019. ^[6]
Most job postings are for hire in the Engineering team, with 512 roles (28.29% share of all vacancies at the company). ^[6]
95% of the country’s rural areas were expected to receive 4G coverage in the coming years owing to the USD 606.3 million investments made by the government in 2020 in the shared rural mobile phone network project. ^[7]
The ecommerce space has grown significantly during the pandemic as there has been a 13% 20% increase in the number of customers preferring to make purchases online. ^[7]
According to Oberlo, a drop shipping solutions company, the retail industry is expected to grow at an average annual rate of 3.58% from 2018 to 2024. ^[7]
According to Oberlo, sales in the U.S. retail sector would grow at 2.3% in 2021 and further rise to 4.1% in 2024. ^[7]
As of 2021, 49 percent of total ecommerce expenditure worldwide was paid using digital and/or mobile wallets, making it the most popular online payment method among global consumers. ^[11]
By 2025, more than half of all ecommerce spend is expected to be carried out with digital and mobile wallets. ^[11]
The second and third most popular online payment methods are credit/charge cards and debit cards, which are currently used for 21 percent and 13 percent of global ecommerce sales respectively. ^[11]
their combined shares of online payment options will fall from the current 34 percent to 32 percent in 2025. ^[11]
In 2021, nearly a third of ecommerce expenditure was paid for with credit cards. ^[11]
In 2021, digital wallets accounted for 29 percent of total ecommerce payments. ^[11]
By 2025, the tide is predicted to change and digital wallets are expected to outrank credit/charge cards to become the most popular online payment method. ^[11]
By then, 33 percent of ecommerce spend in North America is expected to be paid for using digital wallets, compared to 28 percent by credit/charge cards. ^[11]
As these digital alternatives go mainstream, transaction volumes are estimated to surpass $9 trillion annually. ^[1]
To put it into perspective for you, in the US it’s estimated that $3 trillion is tied up in business’ outstanding accounts receivable and the average business has 24% of its monthly revenue held up in , payment terms or trade credit. ^[1]
With a 12.8% projected CAGR from 2019 to 2024, the total value of digital transactions is expected to reach $6.7 trillion by 2024. ^[1]
The number of people using digital wallets will increase from 2.3 billion this year to nearly 4 billion, or 50% of the world’s population, by 2024. ^[1]
The preferred method of global online shoppers is digital wallets (36%), followed by credit cards (23%) and debit cards (12%). ^[1]
With e invoicing the average cost to process a single invoice is 81% lower than the competition, while the average time to process a single invoice is 77% faster. ^[1]
Electronic invoice payment processes cost 60 percent less on average than their paper. ^[1]
46.4% of accounts payable professionals would like to implement electronic invoice solutions, and 22.9% would like to integrate ePayables with virtual cards into their B2B operations. ^[1]
Although 80.8% of businesses still use paper checks in some form, only 40% are satisfied with them. ^[1]
35.5% see electronic invoices as a solution that can reduce manual AP processing. ^[1]
B2B virtual cards will account for almost 80% of virtual card transactions by value, as that transaction value doubles over the next 5 years. ^[1]
33% percent of mid size businesses report payment processing time as a major issue. ^[1]
B2B check payments have now fallen by nearly 50 percent since 2004, when they were at 81 percent. ^[1]
In the US, an estimated $3 trillion is tied up in businesses’ outstanding accounts receivable and the average US business has 24% of its monthly revenue held up in , terms or trade credit. ^[1]
It takes B2B businesses an average of ~30 days to complete a payment, and around 47 percent of the suppliers are paid late for their products or services. ^[1]
35% of businesses report high processing costs as a major challenge with traditional payment methods, as it costs a typical Accounts Payable organization nearly $8 to process a single supplier payment. ^[1]
A survey of 400 financial decision makers showed many expect automation to earn a strong ROI for their organization 84% of respondents believe B2B automation could reduce error rates and 81% believe it could reduce costs. ^[1]
78% of finance professionals predict that all the future accounting methods will be automated. ^[1]
80% of accounting executives believe that AI leads to competitive advantage, and 79%say it can increase the productivity of their company. ^[1]
66% of accountants are ready to invest in AI, out of which 55% plan on using it in the next 3 years. ^[1]
Robotic Process Automation increases efficiency by 44% by automating manually repetitive tasks. ^[1]
74% of B2B buyers today research at least onehalf of workrelated purchases online, and 30% complete at least half of their work. ^[1]
17% percent of deposited checks are now image deposits, 93% of image deposits are by businesses, and 71% of businesses are also accepting digital payments. ^[1]
Updated on December 16, 2020 Advertiser Disclosure 19 Cash vs Credit Card Spending Statistics 80% prefer card payments over cash. ^[12]
76% of consumers have at least one credit card. ^[12]
Only 10% of consumers make all of their purchases with cash. ^[12]
But 88% of consumers use cash at least sometimes. ^[12]
Debit cards account for 67% of card payments. ^[12]
90% of households use more than one payment method. ^[12]
45% of consumers prefer stored card information for online transactions. ^[12]
45% of credit card holders pay off their spending each month. ^[12]
51% of card users said high interest rates were the most significant drawback of credit card use. ^[12]
38% of credit card users cite the inconvenience of carrying cash as their main reason for card use. ^[12]
41% of credit card users have retail and store specific credit cards the most common types of credit cards. ^[12]
80% prefer card payments over cash. ^[12]
Cash vs credit card statistics show that 80% of consumers prefer spending with a card over cash. ^[12]
This 80% breaks down to 54% of consumers who prefer spending with debit cards and 26% of consumers who prefer spending with credit cards. ^[12]
Meanwhile, only 14% specified that they preferred spending with cash. ^[12]
According to statistics from the Boston Federal Reserve, 75.7% of consumers have at least one credit card. ^[12]
A mere 10% of consumers spend with cash and cash only. ^[12]
88% of consumers spend with cash at least sometimes. ^[12]
Hence, 66.9% of card payments are debit card payments. ^[12]
In fact, 90% of households use more than one payment method. ^[12]
Even more, the average consumer uses 3.6 different payment methods every month, according to the Federal Reserve. ^[12]
According to Statistica, 45% of consumers prefer using stored card information for online transactions. ^[12]
This payment method won out even over PayPal, which just 22% consumers say they prefer. ^[12]
Even further behind is manual entry card transactions, which just 17% of consumers prefer. ^[12]
That’s right only 45% of credit card users pay their balance in full from month to month, which means they’re accruing interest on their spending. ^[12]
51% of credit card users said high interest rates were the most significant drawback of credit card use. ^[12]
According to Experian, 51% of credit cardholders saw the interest rates that credit cards charge on overdue balances as the most significant drawback. ^[12]
36% also cited taking on more debt as a downside of spending with a credit card, along with annual fees (33%), risk of identity theft (33%). ^[12]
On the other side of things, though, 38% of credit card users say that the main reason for spending with a credit card is avoiding the inconveniences that come with cash think spending limits and the possibility of losing it. ^[12]
Nonetheless, this reasoning trails behind the forerunner having a spending cushion for emergencies which 42% of consumers cited as their main reason for having a credit card. ^[12]
Consumers also indicated rewards (36%) and building creditworthiness (34%). ^[12]
While the number of ATM cash withdrawals has decreased by 2.8%, the value of ATM cash withdrawals has increased by 0.5%. ^[12]
Card payments have increased in number by 10% and in value by 8.4% year over year. ^[12]
Total number of non cash payments in euro areaincreased by 3.7% to 101.6 billion andtotal valueincreased by 8.7% to €167.3 trillion. ^[13]
Card paymentsaccounted for 47% of total number of non cash payments, whilecredit transfersaccounted for 23% anddirect debitsaccounted for 22%. ^[13]
Number of payment cards issuedincreased by 6.5% to 609 million, representing around 1.8payment cards per euro area inhabitant Around 46 billiontransactions processed by retail payment systems in euro areaworth €36.0 trillion. ^[13]
The number of credit transfers within the euro area increased in 2020 by 3.2% to 23.1 billion and the total value increased by 10.3% to €155.8 trillion. ^[13]
The number of direct debits within the euro area increased in 2020 by 4.4% to 22.2 billion while the total value decreased by 5.2% to €6.6 trillion. ^[13]
The number of cards in the euro area with a payment function increased in 2020 by 6.5% to 609.3 million. ^[13]
For example, at national level, the highest share of card payments, as a percentage of total number of non cash payments in 2020, is observed for Portugal at around 70%. ^[13]
The highest share for credit transfers is found in Slovakia at around 38% and Germany accounts for the highest percentage of direct debits at around 44%. ^[13]
In 2020, the total number of automated teller machines in the euro area decreased by 4.9% to 0.29 million, while the number of point of sale terminals increased by 4.3% to 12.2 million. ^[13]
Note Data have been partially estimated for periods prior to 2010, as methodological changes were implemented in previous years and some corresponding data are not available. ^[13]
Statistics are also collected on other payment services, which accounted for 1.0% of the total number of euro area transactions in 2020. ^[13]
PayPal had$5.46 billion in net revenuein 2020 PayPal accounts for22% of online transactionsin the US. ^[14]
As of the third quarter of 2020, PayPal recorded a 22% or 70 million yearon. ^[14]
According to research from 2018, PayPal is one of the most popular payment methods in the US. ^[14]
While 51.2% of online buyers use Visa Checkout as one of their payment options and 45.6% use other options, PayPal remains the most popular payment option in the online shopping game, as evident by this piece of data on PayPal users. ^[14]
According to a recent study, the average American has nearly $500 in their PayPal account, while their physical wallet holds $196 in cash. ^[14]
20% of those involved in the study said they prefer keeping money on PayPal to keeping it in a regular bank account. ^[14]
The number of monthly active users of the PayPal app for both Apple and Android phones in the UK was estimated at 2.05 million in July of 2020. ^[14]
And then PayPal started rapidly increasing its user base, at approximately 10% per day. ^[14]
Paypal is the most commonly used online payment system, with 90% of respondents having used the service during the year. ^[14]
Other online payment methods used by the respondents include Venmo – 30% Google Pay – 21% Apple Pay – 20% Amazon Pay – 19%. ^[14]
PayPal expected its growth for 2020 to be slightly impaired by the fact that it no longer works with eBay, knocking the expected growth down by 1% (to 17%). ^[14]
The latest PayPal statistics imply that eBay will take advantage, as around 45% of the company’s revenues came from customers who use PayPal. ^[14]
A total of 23,200 people worked in these offices in 2019, which is a 7% increase from 2018. ^[14]
Out of 18,000 people currently employed by PayPal, 55% of them are Millennials. ^[14]
Venmo is currently valued at $38 billion, and it generated a revenue of $450 million in 2020, a whopping 50% increase from its $300 million revenue in 2019. ^[14]
According to PayPal stats, its Q3 payment transactions generated a net payment volume of $246.7 billion, representing a 38% yearon. ^[14]
Comparing Q1 2019 to Q1 2018, we can see a year over year growth of 52%. ^[14]
Overall, 43% of the employees are female. ^[14]
35% of PayPal VPs and just 28% of those in technical roles worldwide are female. ^[14]
Looking further into the demographics of the company, we find that 50% of all PayPal employees and 61% of those in leadership roles are Caucasian. ^[14]
Statistics say that a yearon year growth of 16% was established in the third quarter of 2019. ^[14]

I know you want to use Payment Gateways, thus we made this list of best Payment Gateways. We also wrote about how to learn Payment Gateways and how to install Payment Gateways. Recently we wrote how to uninstall Payment Gateways for newbie users. Don’t forgot to check latest Payment Gatewaysstatistics of 2024.

Reference

bluesnap – https://home.bluesnap.com/snap-center/blog/payment-method-statistics/.
paystand – https://www.paystand.com/blog/b2b-digital-payment-statistics-2020.
financesonline – https://financesonline.com/online-payments-statistics/.
statista – https://www.statista.com/statistics/1111233/payment-method-usage-transaction-volume-share-worldwide/.
statista – https://www.statista.com/topics/3946/digital-payment-methods-in-europe/.
merchantsavvy – https://www.merchantsavvy.co.uk/mobile-payment-stats-trends/.
backlinko – https://backlinko.com/stripe-users.
grandviewresearch – https://www.grandviewresearch.com/industry-analysis/payment-gateway-market.
statista – https://www.statista.com/statistics/823218/india-payment-gateway-market-value/.
ecommerceguide – https://ecommerceguide.com/guides/ecommerce-payment-stats-which-methods-do-shoppers-want/.
statista – https://www.statista.com/statistics/508988/preferred-payment-methods-of-online-shoppers-worldwide/.
oberlo – https://www.oberlo.com/statistics/most-popular-online-payment-methods.
fundera – https://www.fundera.com/resources/cash-vs-credit-card-spending-statistics.
europa – https://www.ecb.europa.eu/press/pr/stats/paysec/html/ecb.pis2020~5d0ea9dfa5.en.html.
spendmenot – https://spendmenot.com/blog/paypal-statistics/.

How Useful is Payment Gateways

One of the key benefits of payment gateways is the convenience they provide. Gone are the days of carrying around cash or writing checks – with just a few clicks, consumers can easily make purchases online or in-store using their credit or debit cards. This level of convenience not only saves time but also reduces the risk of carrying physical currency, making transactions more secure for both parties involved.

Moreover, payment gateways streamline the payment process for businesses, allowing them to accept a wide range of payment methods from customers around the world. This flexibility not only increases sales opportunities but also enhances customer satisfaction by providing multiple options for payment. In addition, payment gateways often come equipped with fraud protection features that help safeguard against unauthorized transactions, giving both businesses and consumers peace of mind.

Furthermore, the rise of mobile payment gateways has revolutionized the way we shop and conduct financial transactions. Mobile wallets, such as Apple Pay and Google Pay, have made it easier than ever to pay for goods and services using just a smartphone. This trend towards mobile payments not only eliminates the need for physical cards but also adds an extra layer of security through biometric authentication features like fingerprint or facial recognition.

Another significant benefit of payment gateways is their ability to seamlessly integrate with e-commerce platforms and online marketplaces. This integration allows businesses to set up online storefronts quickly and easily, offering a convenient shopping experience for customers. By automating the payment process, payment gateways also help reduce human error and streamline accounting procedures for businesses, ultimately saving time and resources in the long run.

While payment gateways offer numerous advantages, there are still some challenges that need to be addressed. One of the major concerns surrounding payment gateways is the issue of transaction fees, which can vary depending on the volume and type of transactions processed. For businesses, these fees can add up over time and cut into profit margins, making it important to carefully consider the cost-benefit analysis of using payment gateways.

Additionally, the security of payment gateways remains a hot topic, as cyber threats continue to evolve and pose risks to sensitive financial information. It is imperative for businesses and consumers to stay vigilant and follow best practices for online security, such as using strong passwords and regularly monitoring transaction history to detect any suspicious activity.

Overall, payment gateways have revolutionized the way we conduct financial transactions, offering a convenient and secure alternative to traditional payment methods. As our society continues to move towards a cashless future, the role of payment gateways will only become more prevalent in everyday life.

In Conclusion

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We tried our best to provide all the Payment Gateways statistics on this page. Please comment below and share your opinion if we missed any Payment Gateways statistics.

Payment Gateways Statistics 2024 – Everything You Need to Know