WooCommerce Payments: Everything you Need to know

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Every year, billions of store transactions are processed around the world. eCommerce businesses must continue exploring the best secure and flexible payment gateway available.

According to Statista, digital and mobile wallets accounted for roughly 45 percent of global e-commerce payment transactions in 2020. This record made the use of digital wallets the most popular online payment method globally. This proportion is expected to exceed 50% by 2024. Credit cards came in second place with a 23 percent market share in 2020, a figure that is expected to fall in the coming years.

Share of selected payment methods as percentage of total e-commerce transaction volume worldwide in 2020, with a forecast for 2024 from statista.com