In 2025, global e-commerce is set to undergo a major transformation, driven by the rapid adoption of mobile wallets, super-apps, and QR code-based payments. As consumers increasingly shift away from traditional card-based transactions, these innovative technologies are reshaping how businesses and consumers engage in digital commerce.
E-commerce continues to grow with over 27 million websites worldwide, half of which are based in the United States. The number of shoppers has tripled since 2019, indicating a substantial shift toward digital buying. By 2027, e-commerce is predicted to account for nearly 25% of worldwide retail sales, with the potential to become a $7 trillion industry by 2025, underscoring its rapid growth and critical role in defining the future of global commerce.
By 2025, mobile wallets, super-apps, and QR codes will revolutionise e-commerce, enabling faster, more secure transactions and improving user experiences. Here's how these innovations will shape the future of digital commerce:
Mobile Wallets: The New Norm: Mobile wallets, such as Apple Pay, Google Pay, and Alipay, have become increasingly popular. By 2025, it's projected that over half of all e-commerce transactions will be conducted via mobile wallets. These digital wallets offer a seamless and secure way to make payments, eliminating the need for physical cards or cash. The convenience and speed of mobile wallets are making them the preferred choice for consumers worldwide.
Super-apps: One-Stop Solutions: Super-apps like WeChat and Grab are transforming the e-commerce landscape by providing a multitude of services within a single application. These apps integrate social media, messaging, e-commerce, and digital payments, offering users a comprehensive and convenient experience. By consolidating various functionalities, super-apps are streamlining the shopping process and enhancing user engagement. The Asia-Pacific region, in particular, has seen a significant rise in the adoption of super-apps, with users enjoying the ease of accessing multiple services from one platform.
QR Codes: Bridging the Physical and Digital Worlds: QR codes have become ubiquitous in the e-commerce world, offering a quick and easy way to access information, make payments, and engage with brands. These versatile codes can store a variety of data, from URLs to payment information, making them an essential tool for contactless transactions. The COVID-19 pandemic accelerated the adoption of QR codes, as businesses and consumers sought safer, touchless solutions. As we move towards 2025, QR codes are expected to continue evolving, with innovations like real-time adaptation and integration with augmented reality enhancing their functionality.
The Future of E-commerce: The convergence of mobile wallets, super-apps, and QR codes is revolutionising the e-commerce ecosystem. These technologies not only enhance customer experience but are also fueling the growth of digital payments and online shopping. As businesses adapt, the future of e-commerce looks bright, offering greater convenience, security, and personalisation for consumers. Mobile commerce is particularly popular among younger consumers, with 73% of Americans using smartphones for browsing and purchasing. By 2027, U.S. mobile commerce sales are expected to hit $856 billion.
Join us at the 15th NextGen Payments & RegTech Forum on 10-11 December 2024 at the Hyatt Regency in Austin- Texas, USA and learn more insights from top experts in mobile commerce and e-commerce as they share their expertise on future trends. Our esteemed speakers will provide actionable strategies to help you navigate what's next and stay ahead in the evolving digital landscape, featuring:
Melissa Pottenger, VP, Payment Ops at Reach
Peter Jessiman, Director, Payment Acceptance at The Wendy's Company
Tiffany Patrick CSPO MBA CAMS CBP, SVP of AML Payments & Innovation at Citi Bank
Moderator: David Morris, Principal Analyst at EMARKETER
Don’t miss the exclusive podcast Business Over Borders episode “Digital Wallets & Upcoming Payment Industry Trend” featuring Andrew Doukanaris FCMI, CEO of Flotta Consulting Limited and Chairman of the 15th NextGen Payments & RegTech Forum, and Melissa Pottenger, VP Payment Ops at Reach, as they explore into the transformative trends shaping the payments landscape.
Register now to enjoy a 10% discount before it expires! Contact QUBE Events at info@qubevents.com to claim the discount!
To register and access the agenda: https://bit.ly/43eQuxk
Link to the Podcast: https://bit.ly/3URAI9p
For more information on registration, please contact: info@qubevents.com
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