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Fintech & Ecommerce

Digital commerce transactions to nearly double in 4 years?

Jan 14, 2020

77% of total digital commerce transaction volume is expected to come from the markets outside North America and West Europe

digital commerce transactions

Digital commerce transactions to nearly double in 4 years. Source: shutterstock.com

According to Juniper Research, global transaction volumes from digital commerce will exceed 1.1 trillion in four years, compared to 641 billion in 2019.

The research revealed that emerging markets will be the driving force behind increased digital commerce. Along with that, QR code payments will be considered as the most used digital commerce mechanism throughout the next 5 years. They will be accounting for 27% of all digital commerce transactions in 2024. Besides, QR payments outside China will increase in popularity, accounting for just over a quarter of global QR payments in four years.

QR payments will gain popularity as they are fundamentally suited to use in emerging economies. Its low infrastructure requirements make QR the best fit for digitizing previously cash-based economies, making QR approaches vital to established financial players seeking new markets
Nick Maynard, research author 

As to digital commerce in Africa & the Middle East, it is becoming increasingly important, with services rapidly diversifying beyond money transfer. Those markets are estimated as a $1 trillion digital commerce opportunity, making it the crucial next battleground.

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