Payment Channels and Types of Transactions

Digitization, Integration, and the Economy Are Reshaping Customer Priorities for Shopping and Paying

Report by Jaime Toplin  | Feb 28, 2023

The Payments Ecosystem 2023

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The Key Trends Changing How Providers Compete for Customers and Transactions

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Table of Contents
Executive Summary
Key Points
Speed and Seamlessness Shape All Corners of Payments
Retail In-Store Payments
Retail Ecommerce Payments
Domestic P2P Payments
Consumer Remittance Payments
B2B Payments
B2C Payments
Cross-Border Payments
Sources
Media Gallery
About This Report
Consumer device and behavior trends are affecting payment providers’ strategies across retail, P2P, B2B, disbursement, and cross-border channels. Here’s what that means for the payments ecosystem.
Topics
Payments
Banking
United States
Table of Contents
Executive Summary
Key Points
Speed and Seamlessness Shape All Corners of Payments
Retail In-Store Payments
Retail Ecommerce Payments
Domestic P2P Payments
Consumer Remittance Payments
B2B Payments
B2C Payments
Cross-Border Payments
Sources
Media Gallery

Executive Summary

Payments providers must make efficient and inexpensive digital payment solutions their top priority in 2023 as economic upheaval plagues customers. To do so, they should explore new transaction flows and devices across channels, while also tapping into new audiences.

3 KEY QUESTIONS THIS REPORT WILL ANSWER

  1. How are payer habits and preferences changing in retail, peer-to-peer (P2P), B2B, and B2C payments?
  2. How are these changes impacting payment providers?
  3. How will providers drive volume and revenue growth in 2023?

WHAT’S IN THIS REPORT? We size core segments of the payments industry—including retail, P2P, and B2B payments—offer growth insights and forecasts, and evaluate key trends that will reshape providers’ strategies in the year ahead.

US Retail Ecommerce Sales, 2020-2026 (trillions, % change, and % of total retail sales)
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KEY STAT: Ongoing ecommerce growth—even after pandemic trends normalize—will push payment providers to continue innovating online while meeting digital needs in new areas.

Here’s what’s in the full report

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11charts

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Table of Contents

  1. Executive Summary
  2. Key Points
  3. Speed and Seamlessness Shape All Corners of Payments
  4. Retail In-Store Payments
  1. Retail Ecommerce Payments
  2. Domestic P2P Payments
  3. Consumer Remittance Payments
  4. B2B Payments
  1. B2C Payments
  2. Cross-Border Payments
  3. Sources
  4. Media Gallery

Charts in This Report

US Retail Ecommerce Sales, 2020-2026 (trillions, % change, and % of total retail sales)US Non-Ecommerce Retail Sales, 2020-2026 (trillions, % change, and % of retail sales)
US Proximity Mobile Payment Transaction Value* and Users, 2020-2026 (billions of $ and millions of users)US Desktop/Laptop Retail Ecommerce Sales, 2020-2026 (billions, % change, and % of total retail ecommerce sales)
US Retail Mcommerce Sales, 2020-2026 (billions, % change, and % of total retail ecommerce sales)US Retail Social Commerce Sales and Buyers, 2020-2026 (billions of $ and millions of buyers)
US Smartwatch Payment Users, 2020-2026 (millions and % of smartwatch users)US Peer-to-Peer (P2P) Mobile Payment Transaction Value and Users, 2020-2026 (billions of $ and millions of users)
Remittance Inflow Worldwide, 2020-2024 (billions and % change)US B2B Payment Value, by Transaction Method, 2019-2023 (trillions )
Top 10 Countries, Ranked by Cross-Border Retail Ecommerce Buyer Growth, 2023 (% change)

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authors

Jaime Toplin

Contributors

Eleni Digalaki
Principal Analyst
David Morris
Principal Analyst
Melissa Rosenberg
Senior Researcher