The ninth annual McKinsey Digital Payments Survey reveals a significant rise in the adoption of digital payments across the United States and Europe, with approximately 90% of consumers in both regions engaging in some form of digital payment over the past year. Notably, the U.S. has reached a record high of 92%. The survey highlights a shift in consumer behavior, with digital payments increasingly becoming the starting point for shopping journeys, particularly through buy now, pay later (BNPL) platforms and offer marketplaces. In-app and in-store digital payments are driving growth, with in-app purchases rising to 60% in the U.S. and in-store digital wallet usage climbing to 28%. Despite similarities in overall adoption rates, distinct preferences for digital wallets emerge across regions, with OEM wallets dominating in-store transactions. The report emphasizes the need for payment providers to engage consumers earlier in the shopping process and adapt to evolving preferences, particularly among younger demographics.
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