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Payment Stats That Will Blow Your Mind (and Change Your Strategy)

Clearly Payments

The global volume of digital payments will reach over $10 trillion by the end of 2024, a sharp increase from $8.3 This explosive growth is fueled by the rapid adoption of e-commerce, contactless payments , and fintech innovations. What It Means for You: Enable contactless payments at your checkout counters.

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The Top Payment Methods For Small Businesses

Stax

TL;DR You get to choose from traditional payment methods like cash and checks, online payment methods like digital wallets and ACH transfers, and emerging payment methods like BNPL services and cryptocurrencies. They let buyers initiate payments by placing their mobile phone near a compatible payment terminal.

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One Third of UK Adults Now Use Mobile Contactless Payments

Fintech Finance

Key figures for 2023 The total number of payments made in the UK increased by five per cent to 48.1 Anecdotal evidence suggests that this trend is caused by increased numbers of shopping trips, the transition to hybrid working, the use of multiple bank accounts, and the increased use of Buy Now Pay Later (BNPL) services. billion).

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2024 Payment Methods Report: Overview, Insights, and Statistics

Clearly Payments

Buy Now, Pay Later (BNPL) Overview : BNPL allows consumers to purchase goods and pay in installments, typically interest-free, which has become popular among younger consumers. Market Growth : BNPL saw a 400% increase in usage globally since 2018 and is expected to grow 17% annually through 2028.

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Payment Processing USA: 2024 Market Overview

Clearly Payments

This growth is attributed to expanding e-commerce, higher consumer spending, and rising adoption of contactless payments. The average American carries around four credit cards , underscoring their role as a preferred payment method. In 2023, credit card transactions totaled about $5.6 Nearly 30% of U.S.

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FIS: Contactless Payments, Curbside Pickup Will Become Digital-First Necessities

PYMNTS

Marraccini called the recent rise in buy now, pay later (BNPL) installment plans “the biggest swing we’ll see in our industry. He said friction-filled installment loan experiences from the olden days are still fresh in many people’s minds, which will help ensure that modern BNPL is here to stay. It’s huge.”.

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From BNPL to RTP, The Year In Payments Ends On Digital-First Note

PYMNTS

As the year closes, PYMNTS calls out six payment methods that gained traction and attention, including a take from key executives in each category. If there was a defining trend for payments in 2020, or a trend that gained the most traction compared to 2019, it was buy now, pay later (BNPL). Contactless.

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