Gross payment value growth on US digital commerce platforms will slow this year, increasing only 9% compared to 25% last year, according to a projection by Insider Intelligence/eMarketer.
By 2025, the gross payment value will be $363.28 billion, more than doubling what it was in 2020.
According to the forecast, US digital commerce platforms will handle 57.7% of their retail e-commerce sales on behalf of their merchants in 2023.
Insider Intelligence/eMarketer anticipates that digital commerce platforms will extend their payment processing offerings in the future due to this tremendous revenue-generating potential.
Ariel Ben Solomon is the Growth and Strategy manager at Ecomhunt. He is the host of the Ecomhunt Podcast. Can be followed on Twitter at @ArielBenSolomon
