The number of e-commerce transactions made via OEM Pays (e.g., Apple Pay, Google Pay, Samsung Pay, etc.) will reach nearly 31 billion by 2026, up from an expected 6 billion this year, according to a new report. The research—eCommerce Payments: Emerging Trends, Opportunities & Market Forecasts 2022-2026 by Juniper Research—suggests that increasing consumer acceptance of alternative payment methods like Buy Now, Pay Later will have knock-on positive effects on all digital wallets, especially those integrated into the mobile devices of consumers’ choice.
In Western Europe, Juniper expects the rate of adoption to be even greater than the overall rate globally. OEM Pay transactions will grow in the region by 516 percent between 2022 and 2026 as it leads the way in digital wallets use over e-commerce channels. In other parts of Europe, where mobile contactless payments haven’t gained much traction, growth will be less.
A clear majority of online OEM Pay transactions (62 percent) will be digital goods purchases by 2026 and Juniper predicts the average transaction value will reach $18.11. China will be the single biggest market for OEM Pay over the next five years, reaching 145 million users by 2026.