United States E-Commerce Payment Market Forecast Report by Type (Digital Wallet, Credit Card, Debit Card, Account-to-Account (A2A), Buy now pay later (BNPL), Cash on Delivery (CoD), PrePay, Others), Application (Electronics & Media, Food & Personal Care, Fashion Accessories, Furniture & Appliances, Others), States and Company Analysis 2024-2032
Buy NowUnited States E-Commerce Payment Market Size
United States E-Commerce Payment market is expected to reach US$ 1,195.64 Billion in 2023 to US$ 3,606.07 Billion by 2032, with a CAGR of 13.05 % from 2024 to 2032. The growing use of smartphones and increased accessibility to the internet is driving growth in the e-commerce payment industry. Additionally, it is anticipated that the e-commerce payment business would expand significantly over the course of the projection period due to the expanding population of bankers and digitalization.
United States E-Commerce Payment Overview
E-commerce payment is a billing technique that allows online retailers to handle payments instantly. Usually referred to as an online mobile payment network, it is categorized as an e-commerce payment system. Either cash or checks are not required for this kind of digital payment. Thanks to paperless e-commerce facilities, labor costs, delivery fees, and general documentation have decreased, changing the nature of online payments. It has been shown that this payment greatly improves the digital payment service's efficiency and provides extra benefits like improved customer satisfaction, fraud protection, and currency conversion, all of which are beneficial to the US e-commerce payment market overall.
The majority of American internet users now shop primarily through mobile devices. Our research indicates that mobile apps are the most popular platform for online grocery shopping, with almost 80 percent of users expected to make purchases through these apps in 2021. Additionally, the average value of online orders placed in the United States is higher on desktop computers than on mobile devices. Consequently, mobile commerce is quickly emerging as the channel of choice for customers to shop through, though daily usage of apps for online stores is becoming increasingly important year over year.
| Report Features | Details |
|
Base Year |
2023 |
|
Forecast Years |
2024 - 2032 |
|
Historical Years |
2019 - 2023 |
|
Market Size in 2023 |
US$ 1,195.64 Billion |
|
Market Forecast in 2032 |
US$ 3,606.07 Billion |
|
Market Growth Rate (2024-2032) |
13.05% |
Growth Drivers for the United States E-Commerce Payment Market
The banking industry's increased use of the internet and the variety of e-commerce payment choices available
The e-commerce payment market in the United States is expanding rapidly. The main drivers driving the growth of the US e-commerce payment market are the increasing usage of e-commerce payment systems by millennials, the availability of several e-commerce payment choices, and the increasing penetration of the internet in the banking sector.
The US is the second-largest country in the world e-commerce market by sales volume. Online buying is becoming more and more popular, and in the US, e-commerce payments are thought to be the best option. Additionally, using e-commerce payments offers the consumer several advantages like easier use, cost control for customers, more effective and efficient transactions, and much more.
Anti-fraud and security mechanisms are provided by the payment providers and payment gateways, the transactions are quite dependable.
Each of these elements is equally responsible for the market's expansion in the US. In addition, the increasing usage of tablets and smartphones, digital wallets, and special incentives from major banks like JP Morgan & Bank of America are all driving the market's expansion. Furthermore, there may be plenty of opportunity for the growth of the US e-commerce payment industry throughout the projection period due to the quick rise in popularity of digital shopping and grocery applications, as well as the rapid expansion of domestic online giants like eBay and Amazon. However, the expansion of the e-commerce payment business in the United States is probably going to be hampered by elements like a lack of anonymity and an increase in e-commerce fraud rates.
Florida E-Commerce Payment Industry
Over the past ten years, the Florida e-commerce payment market has grown remarkably because to changes in consumer behavior and technology improvements. Florida has a diverse population and is a popular destination for tourists, therefore there is a growing need for easy online payment options. Companies of all sizes, from start-ups to multinational corporations, have embraced digital payment methods quickly in response to the changing expectations of their clients, who want ease and security from their transactions.
Fintech firms, payment processors, and large financial institutions are some of the primary participants in Florida's e-commerce payment market. Businesses in the state are served by companies like PayPal, Square, and Stripe, which have made a name for themselves by offering a variety of payment options like digital wallets, integrated payment gateways, and mobile payments. This environment of competition fosters efficiency and innovation, which is advantageous to both customers and retailers.
Additionally, Florida's consumer protection laws and regulatory improvements have had a significant impact on the development of the e-commerce payment sector. The state's emphasis on guaranteeing dependable and safe payment systems promotes customer confidence and aids in the expansion of the digital economy. Florida's payment sector is well-positioned to adjust and prosper in this changing environment as e-commerce continues to develop.
United States E-Commerce Payment Company Analysis
The major participants in the United States E-Commerce Payment market includes Amazon.com Inc., American Express Company, Apple Inc., Fiserv Inc., Mastercard Incorporated, PayPal Holdings Inc., Visa Inc.
United States E-Commerce Payment Company News
In June 2023, Amazon Pay and BNPL retailer Affirm announced their alliance. Through this agreement, small company owners who use Amazon Pay's online store can take advantage of buy-now-pay-later (BNPL) services.
In March 2023, Apple Inc. released Apple Pay. Subsequently, in the United States, purchases can be divided into four equal installments, spaced out over six weeks, with no fees or interest, all planned with the consumers' financial well-being in mind. With Apple Wallet, users can conveniently track, manage, and return their Apple Pay later loans all in one handy location.
Type- Industry is divided into 8 viewpoints:
- Digital Wallet
- Credit Card
- Debit Card
- Account-to-Account (A2A)
- Buy now pay later (BNPL)
- Cash on Delivery (CoD)
- PrePay
- Others
Application- Industry is divided into 5 viewpoints:
- Electronics & Media
- Food & Personal Care
- Fashion Accessories
- Furniture & Appliances
- Others
States: Industry is divided into 11 States
- Florida
- Texas
- South Carolina
- North Carolina
- California
- Iowa
- New York
- Illinois
- Arizona
- Wisconsin
- Others
All companies have been covered with 5 Viewpoints
- Overview
- Key Persons
- Recent Development & Strategies
- Product Portfolio
- Financial Insight
Company Analysis
- com Inc.
- American Express Company
- Apple Inc.
- Fiserv Inc.
- Mastercard Incorporated
- Paypal Holdings Inc.
- Visa Inc.
Report Details:
| Report Features | Details |
| Base Year |
2023 |
| Historical Period |
2019 - 2023 |
| Forecast Period |
2024 - 2032 |
| Market |
US$ Billion |
| Segment Covered | Type, Application and States |
| States Covered |
|
| Companies Covered |
|
| Customization Scope |
20% Free Customization |
| Post-Sale Analyst Support |
1 Year (52 Weeks) |
| Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on request) |
Customization Services available
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1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. United States E-Commerce Payment Market
6. Market Share
6.1 Type
6.2 Application
6.3 States
7. Type
7.1 Digital Wallet
7.2 Credit Card
7.3 Debit Card
7.4 Account-to-Account (A2A)
7.5 Buy now pay later (BNPL)
7.6 Cash on Delivery (CoD)
7.7 PrePay
7.8 Others
8. Application
8.1 Electronics & Media
8.2 Food & Personal Care
8.3 Fashion Accessories
8.4 Furniture & Appliances
8.5 Others
9. States
9.1 Florida
9.2 Texas
9.3 South Carolina
9.4 North Carolina
9.5 California
9.6 Iowa
9.7 New York
9.8 Illinois
9.9 Arizona
9.10 Wisconsin
9.11 Others
10. Porter’s Five Analysis
10.1 Bargaining Power of Buyers
10.2 Bargaining Power of Suppliers
10.3 Degree of Rivalry
10.4 Threat of New Entrants
10.5 Threat of Substitutes
11. SWOT Analysis
11.1 Strength
11.2 Weakness
11.3 Opportunity
11.4 Threat
12. Key Players Analysis
12.1 Amazon.com Inc.
12.1.1 Overview
12.1.2 Key Persons
12.1.3 Recent Development & Strategies
12.1.4 Product Portfolio
12.1.5 Financial Insight
12.2 American Express Company
12.2.1 Overview
12.2.2 Key Persons
12.2.3 Recent Development & Strategies
12.2.4 Product Portfolio
12.2.5 Financial Insight
12.3 Apple Inc.
12.3.1 Overview
12.3.2 Key Persons
12.3.3 Recent Development & Strategies
12.3.4 Product Portfolio
12.3.5 Financial Insight
12.4 Fiserv Inc.
12.4.1 Overview
12.4.2 Key Persons
12.4.3 Recent Development & Strategies
12.4.4 Product Portfolio
12.4.5 Financial Insight
12.5 Mastercard Incorporated
12.5.1 Overview
12.5.2 Key Persons
12.5.3 Recent Development & Strategies
12.5.4 Product Portfolio
12.5.5 Financial Insight
12.6 Paypal Holdings Inc.
12.6.1 Overview
12.6.2 Key Persons
12.6.3 Recent Development & Strategies
12.6.4 Product Portfolio
12.6.5 Financial Insight
12.7 Visa Inc.
12.7.1 Overview
12.7.2 Key Persons
12.7.3 Recent Development & Strategies
12.7.4 Product Portfolio
12.7.5 Financial Insight
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