2018 Global Payments Report2
Digital wallets are an increasingly popular way for
consumers to pay for goods and services. The concept
is simple -- users save their payment details with a
digital wallet provider once, and then checking out
on any website that accepts that particular wallet
becomes effortless and secure. Every merchant who
integrates with that digital wallet automatically receives
all the consumer payment details they need to process
transactions quickly and effectively.
It makes sense from a consumer perspective, too.
They no longer need to enter card numbers on
every website, and can pay without worrying about
the security of their data just by entering their login
and password details. Increasing demands on time
and fear of fraud mean that consumers are naturally
moving toward payment options that are fast, simple,
convenient, and secure.
If you’re a merchant, digital wallets can make very
good business sense. Easy, transparent, and secure
payment options are a win for everyone. With increased
marketplace competition, every competitive advantage
matters, and removing any friction around the payment
process is essential. Combine this with the constant
innovation and disruption in the payments space, and
it’s clear you need to use every opportunity to stay
ahead of the curve.
That’s especially true as the world moves toward a
future anchored in mobile commerce. More and more
users are making purchases on their phones and
other smart devices. They don’t want to fddle around
with tiny keyboards, small screens, and confusing
input options. Digital wallets eliminate many of these
drawbacks, whether it’s purchasing via a website or
through using contactless mobile technology.
There are other advantages, too — centralizing
transactions can help increase your payment volume
and reduce your processing fees. Cross-border
payment and international commerce can be simplifed
through digital wallets.
In 2019, 2.1 billion global consumers
are expected to use a digital wallet
to make a payment or send money,
an increase of almost 30% from 2017.
As a PayPal service, Braintree is uniquely equipped to
help with your global digital wallet strategy. As your
payments partner, we’ll give you a direct line to the
most widely adopted global digital wallet -- with more
than 235 million active user accounts -- alongside
credit, debit, Venmo (in the US), and other payment
platforms, as well as all of the features and innovations
you need to more easily take your business global.
Global expansion is a major driver for many
online businesses, but that objective can
often seem steep or even unattainable
without the right tools and expertise. In
the past, if a merchant wanted to enter
another international market, they’d likely
have to research and integrate various
regional payment methods and currencies,
which could add complexity and drain
resources. On top of that, growth may not
be sustainable from one region to the next.
In searching for a more agile and scalable
strategy, businesses are looking to the
integration of more ubiquitous payment
methods such as digital wallets.
2018 Global Payments Report3
What countries offer the biggest
advantages for merchants
accepting digital wallets
Just where in the world should merchants be looking to take advantage
of the digital wallet opportunity We’re glad you asked. It’s a complex
question, but we’ve got you covered. We’ve explored fve key regions
(through 64 countries, chosen by quality of data available) and taken
a deeper look at 13 spotlight countries to identify those that are well-
prepared (and some less prepared) for digital wallet options. We’ll start
by looking at four global consumer profles, then explore how ready
different regions are for these payment platforms. After that, we’ll dig
into the details of individual countries.
By the time we’re done, you’ll have the information you need to
make an informed choice for increasing your digital marketplace
and expanding internationally.
Let’s get into it.
2018 Global Payments Report4
Every consumer is unique, but integrating
digital wallets into your payment options
relies on appealing to a broad range of
users. To make that easier, we’ve identifed
four key consumer profles to help you
hone your approach.
These profles can be found throughout all local,
regional, and international marketplaces. We’ve
covered each of these profles below and also
highlighted what percentage of each type of user
can be found in the spotlight countries. This helps
make it easier for you to identify countries with
opportunities for digital wallet growth.
Universal Consumer
Profiles
* A note on Japan
Japanese people tend to underreport their behaviors on almost every kind of survey. They regularly
show up in global surveys with results far different (and usually lower) than other developed countries.
Any market research and planning for Japanese consumers should take this into account.24
The Mobile Toe-dipper
The Mobile Irregular
The Confident Consumer
The Mobile Savant。。。