Online payments is the biggest growth market in payments
This report examines the online consumer payments market in 28 global markets, considering the overall market size and its development, as well as the importance of mobile devices as opposed to desktop and laptop computers. The report also breaks down the online market by the type of goods consumers buy and the tools they choose to pay with, considering how consumer buying behavior has changed and the drivers of this change. China overtook the US as the world’s largest online commerce market in 2015, with Chinese consumers spending a total of $699bn online that year. - 20% of the total value of online commerce transactions across all markets will be accounted for by m-commerce by 2020, with the market recording a compound annual growth rate of 17% from 2015 to 2020. - Consumer spending patterns online have shifted over the past three years to a wider range of merchant categories. The market is no longer dominated by high-ticket goods categories to the sam...