The value of global e-commerce payment transactions is expected to exceed $7.5trn by 2026, a study from Juniper Research claims.
The sector will experience a 55% growth rate over the next five years, rising from the $4.9trn value it had in 2021, Juniper claims. This rise is expected to be caused by retailers offering compelling omnichannel retail experiences that increase user e-commerce spend.
Omnichannel retail is where end users are given the ability to access retail services, including sales and customer support, via multiple channels.
This finding is part of Juniper Research’s new eCommerce Payments: Emerging Trends, Opportunities & Market Forecasts 2022-2026.
It claims these channels will be important across online, mobile and physical retail locations, as customers will expect the same service to be available regardless of the channel they use.
Juniper also highlights a rise in interest for new payment methods within e-commerce checkouts, including open banking-facilitated payments and digital wallet one-click checkout buttons.
In terms of the biggest market, the report claims China will account for over 37% of global e-commerce payments by transaction value, owing to its established and extensive e-commerce payments landscape that offers greater convenience for users.
The report forecasts physical goods will account for 82% of the global e-commerce payments transaction value by 2026.
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