Most used payment methods in e-commerce worldwide in 2024, with a forecast for 2030
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In 2024, mobile wallets accounted for roughly half of global e-commerce payment transactions, making the digital wallet by far the most popular online payment method worldwide. This is to increase with a CAGR of 18.1 percent between 2024 and 2030. Credit cards ranked second with a 20 percent market share in 2024, a figure which is projected to almost decline in the coming years.
Digital & mobile wallets around the world
Although digital and mobile wallets were globally the leading choice when buying online, some regions used this payment method more than others. 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. In contrast, this method’s transaction share amounted to only about 20 percent in Latin America.
United Kingdom vs United States
Consumers in the United Kingdom and the United States both liked using digital or mobile wallets when paying for products or services online. One major difference between these two groups, however, was their approach to card payment methods. 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.
