Consumers worldwide will use payment services provided by smartphone makers and other original equipment manufacturers (OEMs) to make more than 30.7bn ecommerce transactions by 2026, an increase of more than 24.5bn on the 6.1bn predicted for 2022, according to a forecast by Juniper Research.
The researchers also predict that the average transaction value per OEM Pay user will reach US$18.11 and that 62% of OEM Pay transactions globally will be for purchases of digital goods.
China will be the biggest market, with 145 million OEM Pay users by 2026, but the researchers identify Western Europe as “a leader in the growth of digital wallet use over ecommerce channels”, with an increase of more than 500% in OEM Pay ecommerce transactions over the next five years.
Juniper’s ‘eCommerce Payments: Emerging Trends, Opportunities & Market Forecasts 2022-2026’ paper also predicts that “OEM Pays will benefit, as alternative payment methods like BNPL (buy now, pay later) are becoming progressively mainstream”, and that ecommerce users “are increasingly demanding low friction checkout processes, which OEM Pays, including Apple Pay and Google Pay, are well placed to offer”.
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