DUBLIN, June 30, 2020 /PRNewswire/ -- The "United States E-Commerce Payment Market, by Payment Method (Bank Transfer, Card, Digital Wallets, Cash and Others), Category (Groceries, Household goods, Health and Beauty,and Others), Digital Wallets, Bank & Forecast" report has been added to ResearchAndMarkets.com's offering.
This report studies the United States ecommerce payment market. The report provides an all-encompassing analysis of the key growth drivers and restraining factors, demand, and their projections for the upcoming years.
The United States is the Second-largest e-Commerce Market Globally after China in Terms of Sales
United States e-Commerce Payment Market share of total retail sales has steadily been on the rise with ecommerce penetration hitting 16% in 2019. e-Commerce continues to drive the retail landscape in the United States, and consumer purchasing remains high, and mobile e-Commerce provided new ways to shop for and buy goods and services. According to this report, United States e-Commerce Payment Market is growing with double-digit growth rate and expected to reach USD 1,395.47 billion by the end of year 2026.
Coronavirus Impact on e-Commerce Payment Industry in the USA
COVID-19 pandemic is rapidly accelerating the online transition as consumers are practising social distancing, and e-Commerce orders for groceries and medical essentials, have become survival and convenient tool for the American family. The average daily downloads for popular digital grocery apps Instacart, Walmart Grocery, Amazon and Shipt have surged since January 2020.
Cards' Dominance in United States Payment Industry
Cards are the dominant online payment method used for all e-Commerce transactions, and 93 percent of the population has a bank account in 2019. Bank of America, JP Morgan bank and others are the ubiquity of credit and debit cards has made them an enabler of digital wallets. The United States merchants are adapting new landscape and merchants accepting digital wallet payments through popular providers like PayPal, Google Pay, Amazon Pay, Xerox, Quick book and Zendesk. As the number of COVID-19 cases ticks up in the U.S., consumers are going cashless to avoid potential hygiene issues around handling banknotes in this pandemic COVID-19.
The shifting in the digital landscape and online transaction dynamics remain keen to drive the e-Commerce payment market in the United States. At the same time, cybersecurity threats continue to evolve rapidly and are expected to challenge the market growth. The segments in the e-Commerce platform in the United States are Travel, Consumers Electronic, Clothes and Apparel, Household goods, Health and Beauty, Groceries and Others.
By Category - Groceries is One of the Top Segments
The report studies the market of the following Category: Travel, Consumers Electronic, Clothes and Apparel, Household goods, Health and Beauty, Groceries and Others. In the United States groceries are one of the top leading categories, and it is growing due to the rise in internet penetration, increasing per capita and disposable income.
By Payment Method - Credit Card is Leading
Based on the payment method, the e-Commerce payment market has been broadly segmented into Bank transfer, Card (Credit and Debit), Digital Wallets, Cash and Others. Credit card Segment is leading the market and will continue on top during the forecast period.
Key Topics Covered
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1 Key Growth Drivers
4.2 Key Challenges
5. United States e-Commerce Payment Market
6. Market Share Analysis
6.1 By Category
7. Category Market Analysis - US e-Commerce Payment
7.1 Travel Market
7.2 Consumer Electronics Market
7.3 Clothing, Apparel & Accessories Market
7.4 Household Goods Market
7.5 Health & Beauty Market
7.6 Groceries Market
7.7 Others Market
8. Payment Method Market
8.1 Bank Transfer
8.3 Digital Wallets
9. Digital Wallets
9.1 PayPal Holdings
9.1.2 Recent Developments
9.2 Amazon Pay
10. Bank Analysis
10.1 JPMorgan Chase Bank
10.1.2 Cards (Debit & Credit)
10.2 Bank of America
10.3 Wells Fargo
10.4 HSBC Holdings plc
10.5 Citi Group
For more information about this report visit https://www.researchandmarkets.com/r/5b6e28
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SOURCE Research and Markets