When benchmarking the progress of global digital transformation, one of the ways PYMNTS categorizes online activities is by distinguishing between those that are “transactional” activities and those that are “engagement” activities.

Transactional activities are those that consist solely of making a purchase, such as purchases and paying bills. Engagement activities are those that are most often fun, like streaming videos and hanging out with friends on social media.

Mobile banking and online banking are the two transactional activities in which the largest shares of consumers participate, with 43% and 41% respectively, according to “Benchmarking The World’s Digital Transformation”, a collaboration between PYMNTS and Stripe.

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Video streaming and social media browsing are the two engagement activities with the largest shares of consumers, at 51% and 45%, respectively.

A greater proportion of consumers participate in engagement activities. Consumers are more digitally engaged than their online shopping activity suggests, PYMNTS found. The engagement index score is 30.8, while the transactional index score is only 22.4.

In addition to video streaming and social media browsing, more than 40% of consumers engage in in-app communication, live streaming, and music streaming. These are the five most common engagement activities.

The five least common engagement activities included in the report are using a home security app or site, smart home features, automated tasks, a mental health app or site, and a dating app or site. Twenty percent or less of consumers engage in these specific activities.

The integration of payments and commerce into the “fun” activities that consumers have the most experience with and regularly use – movies and music streaming and live streaming – is one of the biggest sources of untapped potential of the digital economy.