Economic recovery is gaining momentum in many parts of the world, with eCommerce playing a pivotal role in driving growth. Consumers are more connected than ever, but they are also more discerning, demanding seamless, secure and tailored payment experiences that align with their preferences and habits.
The payments industry continues to evolve at an unprecedented pace, driven by advancements in technology and changing consumer expectations. Digitalisation is no longer just an option but a necessity for businesses aiming to remain competitive in an increasingly cashless world. While traditional card payments still hold their ground, the adoption of modern payment methods such as digital wallets, real-time bank transfers and cross border solutions is accelerating, reshaping the way people transact globally.
Our latest report, Global Payments Outlook 2025, explores the evolving payments landscape across five key regions: Europe, Asia Pacific (APAC), the Middle East and North Africa (MENA), the US and Canada and Latin America (LATAM). This comprehensive report offers valuable insights into the key factors influencing global consumer purchasing behaviour, equipping businesses with the knowledge they need to stay agile and drive revenue growth.
Economies maintain growth in the face of challenges
Despite challenges such as inflation, geopolitical tensions and fluctuating growth rates, many economies are poised for resilience and recovery in 2025. Europe’s economic outlook is optimistic, with GDP growth projected at 1.4% in 2025. Key industries such as manufacturing, tourism and energy are driving recovery, alongside stabilising inflation rates. On the other hand, developed economies like the US and Canada will see moderate growth, with GDP projected at 2.15% and 2.4% respectively. Falling inflation and easing monetary policies are expected to bolster consumer spending.
Asia Pacific is expected to maintain steady growth at 4.4%, driven by robust domestic demand in emerging markets such as Indonesia, the Philippines and Malaysia. Inflation is stabilising, creating opportunities for increased consumer spending, particularly in digital sectors like eCommerce and mobile commerce.
As for Middle East and North Africa (MENA), the region is projected to grow at 4% in 2025. Economic diversification, particularly in renewable energy and technology, is accelerating growth, despite challenges such as inflation and geopolitical risks. While Latin America’s inflation is stabilising and countries are leveraging trade agreements to attract international investments and foster cross border trade.
As seen in the aforementioned regions, this resilience underscores the importance of strategic adaptability and innovation for businesses looking to thrive in a dynamic global landscape.
eCommerce continues to evolve globally
The eCommerce industry is at the forefront of economic transformation, presenting unparalleled opportunities for businesses to extend their reach. As consumer behaviours shift, businesses must adapt by offering tailored experiences, leveraging data insights and prioritising seamless integrations across platforms to capture emerging opportunities.
The APAC region leads global eCommerce, with a projected market size of USD 7.44 trillion by 2030. China remains the largest market, accounting for nearly half of its retail sales online, while India and Indonesia exhibit exponential growth. Interestingly, Europe’s eCommerce market is expected to reach USD 721.33 billion in 2025, with the UK, Germany and France as key contributors. Cross border commerce and sustainability initiatives are driving innovation in the region.
The North American eCommerce market is set to grow by 15.7% annually, with the US remaining the second-largest global market after China. Mobile commerce is thriving, with over 60% of adults in the US relying on smartphones for online shopping. These dynamics underline the importance of mobile-first strategies for success in the region. Moreover, Latin America’s eCommerce market is booming, with Brazil and Mexico leading growth. By 2025, most of the eCommerce transactions in LATAM are expected to be conducted via mobile devices, underscoring the importance of mobile-friendly platforms.
As for MENA, the eCommerce market is poised to grow to USD 162.7 billion by 2029, led by Saudi Arabia, Turkey and the UAE. Quick commerce and rising internet penetration are reshaping consumer habits, highlighting the region's potential for significant advancements in digital commerce.
Consumers favour emerging payment methods
As digital transformation accelerates, consumers worldwide are adopting new payment methods tailored to their preferences and lifestyles. The global shift towards a cashless society is being propelled by advancements in digital payment solutions, fostering convenience, security and financial inclusivity on an unprecedented scale.
Europe’s payment landscape is diversifying, with open banking and account-to-account (A2A) payments gaining traction. Digital wallets are expected to account for over 40% of eCommerce transactions by 2025. This shift highlights the growing importance of flexible and secure payment solutions. Furthermore, in North America, digital wallets are rapidly gaining popularity, projected to capture 52% of eCommerce payments in the US by 2027.
Buy Now Pay Later (BNPL) is also expanding into new sectors like healthcare and travel. Companies that prioritise these payment methods can enhance customer experiences and loyalty. While digitalisation is high in Europe and North America regions, both prefer different digital payment methods.
Interestingly, in APAC, digital wallets dominate the region, accounting for 77% of eCommerce payments by 2027. The rapid rise of mobile commerce and the integration of payment solutions into daily apps and services has redefined consumer expectations, making digital payments essential for market participation. Super apps like WeChat and Alipay integrate payment services seamlessly into daily life, driving widespread adoption.
Moreover, MENA is transitioning from cash to digital payments, with digital wallets projected to account for 33% of all POS payments by 2027 . The introduction of instant payment systems like SARIE and Buna is revolutionising regional and cross border transactions. Finally looking at Latin America, Instant payments and A2A solutions like PIX in Brazil are driving financial inclusion across LATAM. By 2027, A2A payments are expected to account for 29% of domestic eCommerce payments, highlighting the region’s innovative payment landscape.
As seen above with different regions preferring different payment methods, expanding into new markets requires tailored strategies that address regional differences in payment preferences and regulations. Partnering with a payment service provider that offers local expertise and comprehensive solutions is critical to ensuring a seamless and successful entry into diverse markets.
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At emerchantpay, we are dedicated to helping businesses navigate the complexities of the global payments landscape. With our seamless all-in-one payment solutions, we empower merchants to connect with customers worldwide and deliver exceptional payment experiences.
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