Digital Payments transaction value in countries worldwide 2018
Mobile payments have particularly witnessed strong growth with its market share increasing from just 3.5% in 2011 to a staggering 83% in 2018. The rapid growth of e-Commerce, high smartphone penetration, the relatively low growth of other payment channels such as credit cards, and the integrated mobile payment services offered by China’s big Internet companies such as Tencent and Alibaba, are some of the key factors driving the market.