2021年支付应用报告.pdf

The State of Payment Apps An Analysis of Payment App Market Trends and Top Apps in the U.S.2021 Sensor Tower Inc.-All Rights ReservedThis report is an analysis of payment apps available on the App Store and Google Play.It includes download trends along with rankings of top apps from Q1 2018 through Q1 2021.Payment apps are further broken out into following subcategories:Digital Payment:Casual cash transfer apps that enable users to send money to friends and family,as well as pay businesses for mostly zero fees.Money Transfer:Apps that focus on international money transfer services,and enable users to send money and remittances with service fees.Payment Solution:Apps such as Klarna that offer buy now,pay later(BNPL)installment payments after a purchase.The State of Payment Apps:Introduction 2021 Sensor Tower Inc.-All Rights ReservedTable of Contents 04-Market Overview:United States 09-Digital Payment 19-Money Transfer Apps 26-Payment Solution Apps 33-Conclusion An Overview of Payment Apps in the U.S.Market Overview:United States05M10M15M20M25M30M35M40MQ1 2018Q2 2018Q3 2018Q4 2018Q1 2019Q2 2019Q3 2019Q4 2019Q1 2020Q2 2020Q3 2020Q4 2020Q1 202116M14M13M14M11M10M10M9M9M9M9M8M8M18M18M18M21M16M15M15M14M14M13M13M11M10MApp StoreGoogle PlayPayment Apps Reached a Peak of 35 Million Installs in Q2 2020Top digital payment and money transfer apps saw record adoption in Q2 2020,surpassing 35 million downloads and soaring 53 percent year-over-year.As the first federal stimulus checks were issued in the U.S.in April 2020,money transfer services also saw high demand.Despite the drop in adoption in Q3 2020,digital payment and money transfer apps saw consistent growth quarter-over-quarter.U.S.payment apps are on the rise,kickstarting 2021 with total installs of 34 million in Q1.Market Overview U.S.U.S.quarterly downloads of top digital payment and money transfer apps23%+22%5 2021 Sensor Tower Inc.-All Rights Reserved+21%Note Regarding Downloads Estimates:Download estimates are the aggregate downloads of the top 25 digital payment apps in the U.S.from 2018-2020.The Payment App Space Saw Consistency Among Top App RankingsTop digital payment and money transfer apps by U.S.downloads on the App Store and Google Play6 2021 Sensor Tower Inc.-All Rights Reserved-1 2 3 4 5 6 7 8 9 10-1 2 3 4 5 6 7 8 9 10-1-1+1-2+2+1-+1-1-1NEW-1 2 3 4 5 6 7 8 9 10-1-1 2 3 4 5 6 7 8 9 10Cash App Square Venmo PayPal PayPal PayPal Zelle Early Warning Services Google Pay Google Western Union Western Union Holdings JPay JPay Xoom PayPal MoneyGram MoneyGram PayRange PayRange201820192020Q1 21Cash App Square Venmo PayPal PayPal PayPal Zelle Early Warning Services Google Pay Google Western Union Western Union Holdings JPay JPay Xoom PayPal MoneyGram MoneyGram PayRange PayRangeCash App Square Venmo PayPal PayPal PayPal Zelle Early Warning Services Google Pay Google Western Union Western Union Holdings JPay JPay Remitly Remitly Xoom PayPal MoneyGram MoneyGramCash App Square PayPal PayPal Google Pay Google Venmo PayPal Zelle Early Warning Services Western Union Western Union Holdings Remitly Remitly JPay JPay MoneyGram MoneyGram Xoom PayPalMarket Overview U.S.01M2M3M4M5M6M7M8M9MQ1 2018Q2 2018Q3 2018Q4 2018Q1 2019Q2 2019Q3 2019Q4 2019Q1 2020Q2 2020Q3 2020Q4 2020Q1 20212.5M3.2M1.8M982K1.2M1.5M849K460K3.7M4.6M1.9M1.7M1.6M2.1M1.3M613KApp StoreGoogle PlayPayment Solution Apps Surged During Holiday ShoppingPayment solution apps experienced their best quarter ever in Q4 2020 during the holiday season.Adoption of these apps surpassed 7 million downloads for the first time,climbing at a year-over-year rate of 115 percent.Despite their relatively recent arrivalmost entered the U.S.market in 2018 and 2019payment solution apps have been growing at an exceptional rate.Led by Klarna,they reached close to 6 million downloads in Q1 2021,soaring 114 percent Y/Y.U.S.quarterly downloads of top payment solution apps on the App Store and Google Play7 2021 Sensor Tower Inc.-All Rights Reserved319K264K138K187K171K83K+118%+462%Market Overview U.S.Note Regarding Downloads Estimates:Download estimates are an aggregate of the top 5 payment solution apps in the U.S.from 2018-2020.Klarna Klarna Bank Affirm Affirm Afterpay Afterpay Quadpay QuadPay Perpay PerpayKlarna Topped the Payment Solution App Download ChartsTop payment solution apps by U.S.downloads on the App Store and Google Play8 2021 Sensor Tower Inc.-All Rights Reserved20192020Q1 211 2 3 4 51 2 3 4 5Klarna Klarna Bank Afterpay Afterpay Affirm Affirm Quadpay QuadPay Sezzle Sezzle1 2 3 4 5Klarna Klarna Bank Afterpay Afterpay Affirm Affirm Quadpay QuadPay Sezzle Sezzle-1+1-NEW-Market Overview U.S.Swedish app Klarna quickly gained popularity in the United States after its first appearance on the U.S.app stores in Q4 2018,and has been the No.1 ranked payment solution app in the U.S.since 2019.Payment solutions apps surpassed 1 million downloads in the U.S.for the first time during the 2019 holiday shopping season,when the top six apps gained 1.2 and 1.5 million downloads in November and December 2019,respectively.Amid increased financial stress caused by the COVID-19 pandemic,the payment solution space has been on a rise as the“buy now,pay later”concept provided a potentially interest-free alternative to credit card payments.Payment solution app downloads soared 110 percent year-over-year in December 2020.Trends of Digital Payment Apps in the U.S.Digital Payment Apps:United States01M2M3M4MJan-19Mar-19May-19Jul-19Sep-19Nov-19Jan-20Mar-20May-20Jul-20Sep-20Nov-20Jan-21Mar-21Monthly U.S.downloads of top digital payment apps Google Pay Downloads Surpassed Cash App in DecemberDigital payment apps saw a significant boost in adoption at the beginning of the pandemic.Although growth slowed down mid-year,downloads remained above their pre-pandemic level.Cash App continues to lead the space in Q1 2021,surpassing 3 million downloads in January 2021 and gaining 8.7 million in the first quarter.Google Pay adoption skyrocketed in December 2020 and surpassed 3 million downloads after the relaunch of the app.Users from the old version flocked to the new app along with new users.In addition,Google made an advertising push on top ad networks to promote the new version,launching a$21 referral rewards promotion the same month.10 2021 Sensor Tower Inc.-All Rights ReservedCash AppGoogle PayPayPalVenmoZelleCash AppGoogle PayPayPalVenmoZelleDigital PaymentCOVID-19 OutbreakCash App accounted for 30 percent of the market share among top digital payment apps in Q1 2021.Although this share size decreased year-over-year,Cash App still remained the No.1 digital payment app by downloads.Google Pay downloads surged past Venmos in Q1 2021.Google Pays market share climbed to 19 percent in Q1 2021,up from 8 percent in 2020.Cash App Gained the Most New Downloads in Q1 2021201820192020Q1 20210%25%50%75%100%11%11%13%10%18%23%27%24%19%8%5%6%22%23%22%24%30%35%33%35%Cash AppPayPal Google PayVenmoZelle11 2021 Sensor Tower Inc.-All Rights ReservedProportion of U.S.installs among top digital payment appsDigital Payment-31-26-21-16-11-6-1Jan-19Mar-19May-19Jul-19Sep-19Nov-19Jan-20Mar-20May-20Jul-20Sep-20Nov-20Jan-21Mar-21Cash AppVenmoRobinhoodZelleCredit KarmaChase MobileGoogle PayRankings by U.S.download of top finance apps Cash App Ranked No.1 Among All Mobile Finance Apps12 2021 Sensor Tower Inc.-All Rights ReservedCash AppZelleRobinhoodVenmoCredit KarmaChase MobileGoogle PayDigital PaymentCash App ranked as the most downloaded finance app in the U.S.in 2019 and 2020.The app was surpassed by Robinhood in December 2020 and January 2021,during the upticks in stock trading and cryptocurrency prices.Google Pay ranked second by downloads in March 2021.The apps ranking climbed rapidly in November and December 2020 and it has remained among the top 10 finance apps since then.Its best monthly ranking between January 2019 and November 2020 was No.14.02M4M6M8M10M12M14MJanFebMarAprMayJunJulAugSepOctNovDec2.1M3.3M3.7M3.8M1.7M4.2M1.5M1.6M1.8M1.8M1.2M1.2M7.6M6.8M6.5M6.9M7.3M7M6.4M6.4M6.1M6.6M5.9M6.3M20192020 YoY GrowthCOVID-19 SurgeYear-over-year growth of top digital payment apps in 2020Digital Payment App Adoption Grew 61%During COVID-19Top digital payment apps soared 61 percent year-over-year in April 2020 at the beginning of the COVID-19 pandemic.The top five digital payment apps surpassed 10 million downloads in May 2020,suggesting that COVID-19 altered consumer behavior and increased demand for safer payment methods.Digital payment apps surpassed the COVID-19-driven record adoption from May 2020 with nearly 12 million downloads in December 2020.Most of this growth was driven by Google Pay.13 2021 Sensor Tower Inc.-All Rights ReservedCOVID-19+18%+20%+25%+61%+57%+51%+30%+24%+26%+25%+21%+56%Google Pay download surgeDigital Payment02.5M5M7.5M10M Cash App PayPal Google Pay Venmo Zelle3.1M5.3M5.6M6.3M8.7M2.6M5.7M1.3M5.2M8.0M2.2M4.8M1.1M4.1M6.4MQ1 2019Q1 2020Q1 20201Quarterly downloads of top digital payment appsGoogle Pay Downloads Soared 347%in Q1 2021Digital payment apps continue to see promising growth year-over-year,with Cash Apps Q1 2021 adoption surpassing the year-ago quarter by 9 percent.PayPal adoption climbed 21 percent Y/Y,while another PayPal-owned app,Venmo,saw downloads decline slightly.Google Pay was the clear standout by U.S.download growth in Q1 2021.It transitioned users to a different version of the app in late 2020,explaining a large portion of this growth.14 2021 Sensor Tower Inc.-All Rights Reserved+24%+9%+24%+21%+14%+347%+17%-7%+19%+18%Digital PaymentGoogle Pay U.S.downloads by storeCase Study:Google Pay Switched Appsand Users FollowedGoogle Pay transitioned U.S.users to a new and different version of its app starting in November 2020,and seems to have converted a large number of usersor managed to boost adoptionfollowing the switch.It achieved 35 percent of the previous versions all-time downloads for the new version by the end of Q1 2021 on the App Store,and nearly 50 percent of all-time installs on Google Play.The app was faster to transition App Store users than Google Play users early on,with 1.3 million new App Store downloads in December 2020 alone.However,adoption on Google Play remained high into 2021 and the new app has accounted for a higher percentage of the old versions installs on that platform.15 2021 Sensor Tower Inc.-All Rights Reserved01M2M3M4M5M6M7M8M Old Version New Version251K312K364K1.3M123K6.7MThrough Nov 17,2020Rest of Nov 2020Dec 2020Jan 2021Feb 2021Mar 2021Digital PaymentApp StoreTotal:2.4M05M10M15M20M Old Version New Version2.0M1.3M1.2M2.1M583K15.2MThrough Nov 17,2020Rest of Nov 2020Dec 2020Jan 2021Feb 2021Mar 2021Google PlayTotal:7.2MNote Regarding Google Play Estimates:Google Pay download estimates on the Google Play store only include first-time downloads.This does not represent preinstalls of the app on Android phones.35%of all-time downloads47%of all-time downloadsAll-Time Total:All-Time Total:0%5%10%15%20%Q1 2020Q2 2020Q3 2020Q4 2020Q1 2021Google Pays share of voice among top finance app advertisers by network on iOSGoogle Pay Owned 15%of Finance Share of Voice on YouTubeGoogle Pay took advantage of its re-brand and transition to a new app in the U.S.with a big advertising push on top networks in Q4 2020.Google Pay saw highest share of voice among finance apps on YouTube,accounting for 15 percent of finance app advertiser impressions there in Q4 2020.Despite a drop in share of voice on other networks,Google Pay continues to see increased impressions on Apple Search Ads,suggesting that Google may have shifted its advertising focus there in 2021.16 2021 Sensor Tower Inc.-All Rights ReservedYouTubeUnityAdmobMoPubApple Search AdsDigital Payment 2021 Sensor Tower Inc.-All Rights ReservedTop keywords by download of Google Pay on iPhone and creative trends in 2020Google Pay Boosted Adoption with Creative Strategies0100K200KKeyword downloads in 2020google pay1 2 3 4 5 6 7 8 9 106.1KeywordTraffic Score3.52.71.52.02.83.14.13.24.0Google Paysamsung paybhim upitezbill pay reminder organizerg paygooglepaygpayvirtual walletphone app1Bill Pay Reminder and Virtual Wallet“Bill pay reminder organizer”and“virtual wallet”appeared as the top keywords by downloads for Google Pay.Google highlighted the terms in its creatives,successfully promoting the key features.2Money Splitting and BudgetingIn addition to payment and money transfer,Google Pay also includes other functions such as money splitting and spending analytics.Both are promoted in its ads.3Cash BackGoogle Pay saw success after its cashback and referral promotions in December 2020.Google attempted to carry the success over to 2021 by further promoting cashback offers.17Digital PaymentTop digital payment apps started to add cryptocurrency trading and payment features in 2021,signaling cryptocurrencys entrance as mainstream feature.PayPal launched its cryptocurrency payment feature in March 2021,after the first introduction of cryptocurrency trading in October 2020.Cash App was one of the first to allow cryptocurrency trading and payment in the app,launching these features in 2018.18AppFinance SubcategoryCrypto Trading Launch DateY/Y Download Growth in First Week after Feature LaunchCrypto Payment Launch DateY/Y Download Growth in First Week after Feature LaunchCash AppPaymentJan.2018129%Jan.2018129%VenmoPaymentApr.2021-29%-PaypalPaymentOct.202042%Mar.2021-4%Western UnionMoney Transfer-*Apr.2019-2%Payment apps moving into the crypto payment space,timeline and download growthPayment Apps are Moving Towards CryptoLaunched after the COVID-19 outbreakCash App creative on AdMob and MoPub*Partnership with a third-party cryptocurrency payment service overseasDigital Payment 2021 Sensor Tower Inc.-All Rights Reserved Trends of Money Transfer Apps in the U.S.Money Transfer Apps:United States0100K200K300K400K500KJan-19Mar-19May-19Jul-19Sep-19Nov-19Jan-20Mar-20May-20Jul-20Sep-20Nov-20Jan-21Mar-21Monthly U.S.downloads of top money transfer apps Money Transfer App Adoption Was Boosted by COVID-19Western Union gained nearly 500K downloads in April 2020,an increase of 49 percent year-year-year.Enabling consumers to send money to more than 200 countries,the app saw a surge in demand during the global pandemic as a way for users to offer financial support to family and friends overseas.Remitly maintained high adoption throughout the year,soaring 33 percent Y/Y and gaining almost 400K U.S.downloads in Q1 2021.The U.S.and Canada were responsible for more than half of the growth for Remitly.20 2021 Sensor Tower Inc.-All Rights ReservedMoney TransferWestern UnionJPayRemitlyMoneyGramXoomCOVID-19Western UnionJPayRemitlyMoneyGramXoomWorldRemitWorldRemitWestern Union accounted for 33 percent of downloads among top money transfer apps in Q1 2021.Despite the decrease in market share over time,Western Union continues to be the top money transfer app in the U.S.As one of a few apps designed for money transfers with incarcerated individual