Digital Payments Statistics in 2024 (Latest U.S. & Global Data)
Electronic transactions move money faster, cheaper, and more conveniently for both consumers and businesses.
Digital payments statistics show that payments are becoming increasingly cashless.
Digital Payments Statistics
- Global digital payments revenue is projected to reach $14.79 trillion by 2027.
- Two-thirds (2/3) of adults worldwide are now using digital payments, 89% in U.S.
- Ecommerce is projected to account for 24% of global consumer spend by 2026.
- Digital wallets account for 49% of global ecommerce sales, credit cards 21%.
- Top digital wallets in the U.S. are PayPal (36%), Apple Pay (20%), and Venmo (16%).
- 15% of digital wallet users leave their residences regularly without a physical wallet.
- 9 in 10 central banks are exploring central bank digital currencies (CBDCs).
- 76% of adults worldwide now have a bank account or use a mobile money provider.
- 1.4 billion adults worldwide are still unbanked.
1. Global digital payments revenue is projected to reach $14.79 trillion by 2027.
According to the latest Statista digital payments growth statistics (2022), the total global digital payments transaction value is projected to reach $14.79 trillion by 2027. (1)
The global digital payments market revenue is expected to grow 11.79% annually (CAGR) from 2023 to 2027.
In 2023, the total global digital payments transaction value is projected to reach $9.47 trillion.
| Total Transaction Value | 2023 Digital Payments | Growth Rate CAGR | 2027 Digital Payments |
| Global | $9.47 T | 11.79% | $14.79 T |
| USA | $2.04 T | 14.66% | $3.53 T |
| China | $3.85 T | 7.80% | $5.20 T |
*Dollars are in USD.
The total U.S. digital payments transaction value is projected to reach $3.53 trillion by 2027. (2)
- The U.S. digital payments revenue is expected to grow 14.66% annually (CAGR) from 2023 to 2027.
- In 2023, the total U.S. digital payments transaction value is projected to reach $2.04 trillion.
The total China digital payments transaction value is projected to reach $5.20 trillion by 2027. (3)
- The China digital payments revenue is expected to grow 7.80% annually (CAGR) from 2023 to 2027.
- In 2023, the total China digital payments transaction value is projected to reach $3.85 trillion.
2. Two-thirds (2/3) of adults worldwide are now using digital payments, 89% in U.S.
According to World Bank Group global digital payments statistics (2021), 64% of adults worldwide now make/receive digital payments. (4)
In developed countries, 95% of adults are using digital payments compared to 57% of adults in developing countries.
| Using Digital Payments | Global Latest 2021 | Developed Countries | Developing Countries |
| Adults | 64% | 95% | 57% |
| Account owners | 84% | 98% | 80% |
About 84% of financial services account owners worldwide are doing digital transactions.
In developed countries, 98% of account owners are using digital payments compared to 80% of adults in developing countries.
About 9 in 10 Americans are now using digital payments.
According to the latest McKinsey & Co U.S. digital payments statistics (2022), 89% of Americans are now using digital payments. (5)
| U.S. Consumers | Percentage |
| Using digital payments | 89% |
| Used two or more forms of digital payments | 62% |
| Done in-app and peer-to-peer (P2P) purchases | 69% |
| Expect to have a digital wallet within two years | 60% |
Americans who are using two or more forms of digital payments have grown from 51% in 2021 to 62% in 2022.
About 69% of users have done in-app and peer-to-peer (P2P) purchases in 2022.
In addition, about 60% of Americans expect to have a digital wallet within the next two years.
3. Ecommerce is projected to account for 24% of global consumer spend by 2026.
The largest segment of the global digital payments market is digital commerce.
According to Insider Intelligence online payments statistics (2022), ecommerce is projected to account for 24% of global consumer spend by 2026. (6)
| Global | 2023 | 2024 | 2025 | 2026 |
| Retail Ecommerce Sales | $6.310 T | $6.913 T | $7.528 T | $8.148 T |
| % of Total Retail Sales | 20.8% | 21.9% | 23.0% | 24.0% |
Global digital commerce revenue is projected to reach $8.1 trillion by 2026.
In 2023, the global ecommerce revenue is projected to reach $6.3 trillion and account for 20.8% of global retail sales.
Related: Ecommerce Statistics (Latest U.S. & Global Data)
4. Digital wallets account for 49% of global ecommerce sales, credit cards 21%.
According to FIS Global statistics about digital payments (2022), digital wallets account for 49% of global ecommerce sales, credit cards 21%, and debit cards 13%. (7)
| Ecommerce Payments | Global 2021 | North America 2021 |
| Digital wallet | 49% | 29% |
| Credit card | 21% | 31% |
| Debit card | 13% | 21% |
| Bank transfer | 7% | 8% |
| Buy now, pay later | 3% | 4% |
| Cash on delivery | 3% | 2% |
| Direct debit | 1% | n/a |
| Prepay | 1% | 2% |
| Other | 1% | 1% |
| Prepaid card | 1% | 1% |
| Postpay | 1% | n/a |
*Numbers adjusted for rounding may impact totals.
The top ecommerce payment methods in North America are credit cards (31%), digital wallets (29%), and debit cards (21%).
Interestingly enough, about 4% of North America and 3% globally is using the buy now, pay later (BNPL) payment type.
Digital wallets account for 29% of the global point of sale (POS) sales, credit cards 24%.
According to FIS Global electronic payments statistics (2022), digital wallets account for 29% of the global point of sale (POS) sales, and credit cards 24%. (7)
| Point of Sale (POS) Payments | Global 2021 | North America 2021 |
| Digital wallet | 29% | 36% |
| Credit card | 24% | 34% |
| Debit card | 23% | 6% |
| Cash | 18% | 15% |
| Retailer/bank financing | 4% | 4% |
| Prepaid card | 2% | 4% |
| Buy now, pay later | 1% | 2% |
*Numbers adjusted for rounding may impact totals.
The main point of sale (POS) payment methods in North America are digital wallets (36%), credit cards (34%), and debit cards (6%).
Top global B2B payment methods are still ACH credits (39%) and checks (26%).
According to Association for Financial Professionals (AFP) B2B payments statistics (2022), the top global B2B payment methods are ACH credits (30%), checks (22%), and domestic wire transfers (12%). (8)
| B2B Payments | Global 2022 | North America 2022 |
| ACH credits | 30% | 39% |
| Checks | 22% | 26% |
| Domestic wire transfers | 12% | 9% |
| Legacy International wires (SWIFT) | 6% | 3% |
| ACH debits | 5% | 7% |
| Same-day ACH debits | 4% | 3% |
| Enhanced International Wires (SWIFT gpi) | 4% | 1% |
| Physical cards | 3% | 3% |
| SEPA payments | 2% | 2% |
| Real-time payments (RTP) | 2% | 1% |
| Virtual cards | 2% | 3% |
*Only the main payment methods.
Legacy International Wires (SWIFT) makes up 6% of global B2B payments, ACH debits 5%, and same-day ACH debits 4%.
The top B2B payment methods in North America are ACH credits (39%), checks (26%), and domestic wire transfers (9%).
Legacy International Wires (SWIFT) makes up 3% of B2B payments in North America, ACH debits 7%, and same-day ACH debits 3%.
5. Top digital wallets in the U.S. are Paypal (36%), Apple Pay (20%), and Venmo (16%).
According to Civic Science digital payments business statistics (2022), the top digital wallets in the U.S. are Paypal (36%), Apple Pay (20%), and Venmo (16%). (9)
| Rank | Primary Digital Wallet | Percentage of Users |
| #1 | PayPal | 36% |
| #2 | Apple Pay | 20% |
| #3 | Venmo | 16% |
| #4 | Other | 13% |
| #5 | Google Pay | 11% |
| #6 | Samsung Pay | 3% |
Among all digital wallet platforms in the U.S., PayPal is still the dominant player.
More than one-third of digital wallet users in the U.S. use PayPal as their primary digital wallet.
In addition, about 46% of the population uses PayPal to make transactions online.
6. 15% of digital wallet users leave their residences regularly without a physical wallet.
According to McKinsey & Co cashless payments statistics, 15% of digital wallet users in the U.S. leave their residences regularly without a physical wallet. (10)
| Digital Wallet Users | Percentage |
| Consider leaving the wallet if they do not plan to purchase anything | 11% |
| Leave their residence regularly without the physical wallet | 15% |
| Multiple card owners frequently switch the default option | 40% |
About 11% of American digital wallet users say they consider leaving the physical wallet at home only when they don’t plan to purchase anything.
The data also found that 40% of digital wallet users with multiple cards frequently (every couple weeks or more) switch to an instrument other than their default option.
The most common reasons for this were funds availability, a desire to isolate different purchase types on separate cards, and redemption of promotions or discounts.
7. 9 in 10 central banks are exploring central bank digital currencies (CBDCs).
A CBDC is central bank-issued digital money denominated in the national unit of account, and it represents a liability of the central bank. (11)
To put it simply, a CBDC is an electronic version of physical cash.
According to Bank for International Settlements’ digital payments industry statistics (2022), 9 in 10 central banks are actively exploring central bank digital currencies (CBDCs).
| Central Banks | Percentage |
| Actively working on CBDC projects | 90% |
| In the experiments/proof-of-concept phase | 62% |
| In the development/pilot phase | 26% |
About 62% of central banks are already conducting experiments and proofs-of-concept on CBDCs.
About 26% of central banks are in the advanced stages of developing or running a pilot on CBDCs.
26% of central banks already have the legal authority to issue a CBDC.
The issuance of a CBDC requires a legal framework that provides central banks with authority to do so. (11)
According to Bank for International Settlements electronic payments data (2022), 26% of central banks already have the legal authority to issue a CBDC.
| Issuing a CBDC | Percentage |
| Uncertain | 40% |
| Have the legal authority | 26% |
| Doesn’t have the legal authority | 25% |
| Laws are being changed to allow it | 10% |
About 10% of jurisdictions where central banks operate are changing their laws in order to provide the legal framework for CBDCs.
About 25% of jurisdictions where central banks operate lack the legal authority to issue a CDBC.
About 40% of central banks are currently unsure about their jurisdiction’s legal foundations in terms of CDBCs.
A CBDC is different from existing cashless payment instruments, such as credit transfers, card payments, and e-money, as it represents a direct claim on a central bank rather than the liability of a private financial institution.
8. 76% of adults worldwide now have a bank account or use a mobile money provider.
According to World Bank Group statistics on cashless payments (2021), 76% of adults worldwide have an account at a bank or regulated institution such as a credit union, microfinance institution, or mobile money service provider. (4)
| Digital Payments Accounts | 2021 | Growth | 2011 |
| Worldwide | 76% adults | 50% in 10 yrs. | 51% adults |
The global digital payments account ownership has increased by 50% from 51% of adults in 2011 to 76% in 2021.
| Digital Payments Accounts | 2021 | Growth | 2017 |
| Developing countries | 71% adults | 8% in 4 yrs. | 63% adults |
About 71% of adults in developing countries now have an account at a bank or regulated institution.
Digital payments account ownership in developing economies has increased by 8% from 63% of adults in 2017 to 71% in 2021.
9. 1.4 billion adults worldwide are still unbanked.
According to World Bank Group statistics on electronic payments (2021), about 1.4 billion adults worldwide are still unbanked. (4)
This means they do not have an account at a financial institution or through a mobile money provider.
| Unbanked in 2021 | Decline in 10 yrs. | Unbanked in 2011 |
| 1.4 B adults | 56.4% | 2.5 B adults |
The global number of adults without financial account ownership has declined 56.4% from 2.5 billion in 2011 to 1.4 billion in 2021.
As financial account ownership is nearly universal in high-income economies, practically all
unbanked adults live in developing economies.
| Unbanked Economies | Percentage of Adults |
| Rest of the world | 46% |
| India | 17% |
| China | 9% |
| Pakistan | 8% |
| Indonesia | 7% |
| Nigeria | 5% |
| Bangladesh | 4% |
| Egypt, Arab Rep. | 4% |
The data suggests that 54% of the world’s unbanked adults live in seven economies.
About 17% of unbanked adults live in India, 9% in China, 8% in Pakistan, 7% in Indonesia, 5% in Nigeria, 4% in Bangladesh, 4% in Egypt, Arab Rep, and 46% in the rest of the world.
The majority of unbanked adults continue to be women.
References
- Statista. 2022. Digital Payments – Worldwide. Link
- Statista. 2022. Digital Payments – United States. Link
- Statista. 2022. Digital Payments – China. Link
- The World Bank. 2021. The Global Findex Database 2021: Financial Inclusion, Digital Payments, and Resilience in the Age of COVID-19. Link
- McKinsey & Company. 2022. Consumer trends in digital payments. Link
- Insider Intelligence. 2022. Worldwide Ecommerce Forecast Update 2022. Link
- FIS Global. 2022. The Global Payments Report. Link
- Association for Financial Professionals. 2022. Digital Payments Survey Report. Link
- Civic Science. 2022. PayPal Leads Among Digital Wallet Adoption, But Cash Stays Relevant. Link
- McKinsey & Company. 2021. New trends in US consumer digital payments. Link
- Bank for International Settlements. 2022. Gaining momentum – Results of the 2021 BIS survey on central bank digital currencies. Link
