The forecast: In 2020, more than 1.18 billion people used proximity mobile payments worldwide, a growth of 22.2% over 2019. By 2022, proximity mobile payments will reach close to 1.35 billion people worldwide as the payment method’s popularity increases.
The pandemic forced a big shift in payments worldwide with more retailers implementing contactless payment options and governments encouraging these types of services to reduce physical contact.
In 2021, we project more than 1.27 billion people will use proximity mobile payment users, some 70 million more than we previously expected. By 2022, 33.3% of mobile phone users, 38.6% of internet users, and 46.8% of smartphone users will use proximity mobile payments.
Growth is happening the fastest among Latin American countries, where Argentina led with 58.3% growth in 2020. China leads in terms of user share with 87.3% of mobile phone users 14 and older using proximity mobile pay.
Source: eMarketer