From mobile walletsWallets wallets See Digital Wallets. in Asia to open banking in Europe, payment preferences vary widely across continents. In this guide, we explore top payment methods by continent, highlighting popular brands, market shares, and linking to their regulatory institutions or central banks for further reference.
🌏 Asia
Asia is leading the world in mobile payments and QR-based real-time payments (RTP), driven by giants like Alipay, WeChat Pay, and India’s UPI.
| Country | Top Payment Methods | Market Share (2024 est.) | Central Bank / Regulator |
|---|---|---|---|
| 🇨🇳 China | Alipay, WeChat Pay, UnionPay QR | Mobile Wallets: 83% | People’s Bank of China |
| 🇮🇳 India | UPI, Paytm, PhonePe | UPI: 75%, Cards: 15% | Reserve Bank of India |
| 🇸🇬 Singapore | PayNow, Credit Cards, GrabPay | RTP (PayNow): 40%, Cards: 50% | Monetary Authority of Singapore |
| 🇯🇵 Japan | FeliCa (Suica, Pasmo), Credit Cards | Cards: 60%, QR: 10% | Bank of Japan |
| 🇮🇩 Indonesia | QRIS, Dana, OVO | QRIS: 45% | Bank Indonesia |
🌍 Europe
Europe is the stronghold of cards and bank transfers, with innovation driven by SEPA, PSD2, and open banking frameworks.
| Country | Top Payment Methods | Market Share (2024 est.) | Central Bank / Regulator |
|---|---|---|---|
| 🇬🇧 United Kingdom | Faster Payments, Apple Pay, PayPal | RTP: 35%, Cards: 50% | Bank of England |
| 🇩🇪 Germany | Giropay, Klarna, SEPA | Bank Transfers: 45%, Cards: 35% | Bundesbank |
| 🇫🇷 France | Carte Bancaire, Apple Pay | Cards: 70% | Banque de France |
| 🇳🇱 Netherlands | iDEAL, Debit Cards | iDEAL: 65% | De Nederlandsche Bank |
| 🇸🇪 Sweden | Swish, Klarna | Swish: 55% | Sveriges Riksbank |
🌎 North America
The US and Canada still lean heavily on credit cards, but contactless payments and BNPL (Buy Now Pay Later) are rising rapidly.
| Country | Top Payment Methods | Market Share (2024 est.) | Central Bank / Regulator |
|---|---|---|---|
| 🇺🇸 United States | VisaVisa visa A leading global payment technology company connecting consumers, businesses, and banks., MastercardMasterCard mastercard A global payments network enabling electronic transactions between banks, merchants, and cardholders., Venmo, Apple Pay | Cards: 65%, Mobile: 15% | Federal Reserve |
| 🇨🇦 Canada | Interac e-Transfer, Credit Cards | Cards: 70%, Interac: 25% | Bank of Canada |
| 🇲🇽 Mexico | CoDi, OXXO, Cash | Cash: 50%, CoDi: 12% | Banco de México |
🌎 South America
Latin America is quickly embracing digital walletsDigital Wallets digital-wallets Applications or platforms (like Apple Pay, Google Pay) that store payment card data securely and allow users to pay digitally. and instant payment systems like Brazil’s Pix.
| Country | Top Payment Methods | Market Share (2024 est.) | Central Bank / Regulator |
|---|---|---|---|
| 🇧🇷 Brazil | Pix, MercadoPago | Pix: 75% | Banco Central do Brasil |
| 🇦🇷 Argentina | MercadoPago, Debit Cards | Wallets: 50% | Banco Central de la República Argentina |
| 🇨🇱 Chile | WebPay, MACH | Cards: 60%, Mobile: 25% | Banco Central de Chile |
🌍 Africa
Africa leads in mobile money adoption, especially through USSD and SIM-based services like M-Pesa.
| Country | Top Payment Methods | Market Share (2024 est.) | Central Bank / Regulator |
|---|---|---|---|
| 🇰🇪 Kenya | M-Pesa, Airtel Money | Mobile Money: 90% | Central Bank of Kenya |
| 🇳🇬 Nigeria | Paga, USSD, NIBSS Instant Payment | Bank + Mobile: 65% | Central Bank of Nigeria |
| 🇿🇦 South Africa | SnapScan, Cards, EFT | Cards: 60%, Mobile: 20% | South African Reserve Bank |
🌏 Oceania
Australia and New Zealand are embracing real-time payments like NPP and PayID, alongside strong card usage.
| Country | Top Payment Methods | Market Share (2024 est.) | Central Bank / Regulator |
|---|---|---|---|
| 🇦🇺 Australia | PayID, Apple Pay, Debit Cards | RTP: 30%, Cards: 55% | Reserve Bank of Australia |
| 🇳🇿 New Zealand | EFTPOS, POLi, Debit Cards | EFTPOS: 65%, POLi: 10% | Reserve Bank of New Zealand |
🧠 Final Thoughts: The Future of Payments is Real-Time
As open banking and faster payment systems scale globally, the future of money is real-time, mobile-first, and borderless. Each region is evolving with its own regulatory pace, user behavior, and fintechFintech fintech Short for financial technology, refers to tech-enabled innovation in financial services. infrastructure, but the endgame is universal — frictionless commerce.