A new Juniper Research study has found that the volume of global eCommerce transactions made via OEM Pay will exceed 30.7 billion by 2026; rising from 4.7 billion in 2022. This outstanding growth of 550% will be driven by rapidly increasing customer demands of frictionless checkout experiences across multiple eCommerce channels.
The new research, eCommerce Payments: Emerging Trends, Opportunities & Market Forecasts 2022-2026, predicted that OEM Pays will benefit, as alternative payment methods like BNPL (Buy Now Pay Later) are becoming progressively mainstream. eCommerce users are increasingly demanding low-friction checkout processes, which OEM Pays, including Apple Pay and Google Pay, are well placed to offer. The research recommended that merchants work closely with payment platforms to increase acceptance of digital wallets, or risk losing market share to better-connected competitors.