Apple Pay and digital wallets eclipse cash globally at point of sale for first time
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In 2020, eCommerce spending grew at the fastest rate in five years, while usage of cash for in-store payments fell sharply, as global consumers made increasing use of mobile wallets like Apple Wallet:, Apple Pay, and other alternative payment methods in 2020 during the pandemic, according to new report released today from financial technology leader FIS.
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According to Juniper Research, Apple Pay is well ahead of Google Pay and Samsung Pay, and is likely to stay ahead. The report estimated that in 2020, Apple Pay had nearly 227 million users — up from 140 million users in 2018. In comparison, Google Pay’s users had 100 million in 2020 from 39 million users in 2018. Samsung, which had 51 million users in 2018, had 100 million in 2020.
The annual Global Payments Report by Worldpay from FIS examines current and future payment trends across 41 countries. Findings from the 2021 report show that lockdowns, shelter-in-place orders and personal safety measures during the global health crisis accelerated the shift toward digital payment methods in every area of consumer spending.
To download the complete copy of the report, including the methodology, please visit https://worldpay.globalpaymentsreport.com/.
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