STATISTA – Alternative digital payments: Who and where?

In this webinar from April 2023, Raynor de Best, Specialist Expert in Financial Services & Real Estate at Statista, shared crucial insights into trends and developments in digital payments.

n only a few years, macroeconomic events fundamentally shaped consumer payment behavior across the world. Cash is no longer king in certain countries, while cards also faced growing competition from fast-emerging digital payment alternatives. These challengers to the payments throne are often discussed individually, but rarely put together or compared against each other. Is fintech to take over from traditional payments like cards or cash, or will banks catch up and provide custom payment solutions? Or will blockchain – using either Bitcoin or CBDC – become a viable tool for payments?

During the webinar, Raynor focused on the following payment methods:

• Digital wallets: Apple Pay and Google Pay

• Buy now, pay later (BNPL) consumer adoption

• Real-time, or instant, payments: When will they kick off?

• Local initiatives involving open banking or embedded finance

• Cryptocurrency penetration, and are consumers willing to pay with it?

• Central Bank Digital Currencies (CBDC): Their current status