Digital commerce platform payment value growth will slow but remain steady

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Key stat: US digital commerce platform gross payment value growth will slow down this year, increasing only 9.0% compared with last year’s 25.0%, per our forecast.

Beyond the chart:

• Gross payment value will hit $363.28 billion by 2025, more than double what it was in 2020.
• US digital commerce platforms are expected to process 57.7% of their retail ecommerce sales on behalf of their merchants in 2023, per our forecast.
• Because of this massive revenue-generating potential, we predict digital commerce platforms will expand their payment processing offerings in the coming years.

Use this chart:

• Identify the growth patterns of US digital commerce platform gross payment value.
• Size the US digital commerce platform payments market.

More like this:

• Open banking, alternative credit models drive US credit card digital account opening growth
• Amazon adds new BNPL option to strengthen digital wallet
• Apple’s financial services marketing promotes an immersive lifestyle, not just products
• US mobile wallet users prefer PayPal, especially for online purchases

More Chart of the Day:

• 8/25 - Social video slows
• 8/24 - The rise and fall of ecommerce growth
• 8/23 - Programmatic OOH watch
• 8/22 - Gen Z’s social motivators
• 8/21 - Buying into Klarna

Note: A digital commerce platform is a comprehensive software that enables businesses to build digital storefronts and facilitates online transactions. Capabilities include the creation and design of web storefronts, management of product catalogs, support for inventory management, shopping cart and checkout features, customer account management, and data analytics. A digital commerce platform can support application programming interfaces (APIs) and connect to third-party apps through a self-service portal. Examples include Adobe Commerce, BigCommerce, Salesforce B2C Commerce, Shopify, Wix, and WooCommerce.Less

Methodology: Estimates are based on the analysis of data from other research firms and government agencies, historical trends, reported and estimated revenues from company reports, consumer online buying trends, and macro-level economic conditions.