Monday, 16 May 2022

Global e-commerce market to grow 55% by 2025

5 min read

The global e-commerce market is projected to grow more than 50% through 2025 to reach over $8 trillion in transaction value, according to FIS study.

The 2022 Global Payments Report by Worldpay from FIS examines current and future payments trends across 40 countries in five regions. Regarding 2021, the report found the shift to online continued with 13.9% growth in global e-commerce, while the 13.4% growth in point-of-sale (POS) transaction value reflects the steady recovery from the impacts of the COVID-19 pandemic.

Additionally, BNPL is projected to be the world’s fastest-growing payment method both online and in-store between 2021 and 2025, with consumer payment preferences continuing to shift towards digital payment methods.

e-Commerce payment trends

The FIS report found:

Point-of-sale (POS) payment trends

The FIS report found:

Jim Johnson, head of merchant solutions at FIS said, “Even as more customers return to the store, it is clear that there is no going back on the innovations we are seeing within fintech”.

“Consumers are now mirroring the way they shop online while they are at their favourite retailer – creating a more advanced blend of digital and physical payment options than we saw prior to the pandemic. The implications of this are significant for merchants, who now need to innovate and partner with a technology provider who can help them meet the diverse needs of modern-day consumers,” he said.

Re-disseminated by The Asian Banker

Diary of Activities