Despite over half of worldwide online customers using credit cards to make purchases, more than 50% of E-Commerce sales are completed through alternative payment methods. Information cited in the report estimates that the combined share of different alternative payment methods in global E-Commerce sales will rise, leaving the share of bank cards at a decrease.
Alternative payment methods are particularly favored over bank cards in emerging markets such as China. Here, E-Wallets like Alipay made up for more than half of online sales. Research within the report also found that in Indonesia and Thailand, online consumers prefer bank transfers, but in Vietnam, this method comes second after cash on delivery. Cash on delivery is also the most favored method from E-Commerce consumers in many select developing markets due to the level of banking penetration being lower than in other advanced economies.
In advanced markets such as the USA, Canada, Japan, South Korea, the UK, and Sweden, credit card online payments remain in the lead. Notably, exceptions to this trend are in Germany and the Netherlands where alternative payment methods outrank bank card payments.
This key information from the new report reveals that online retailers understand the necessity of providing different payment options to meet different customers' needs in that two-thirds of these E-Commerce merchants provide a minimum of 3 varying payment methods.
Key Questions Answered
- What are the leading alternative payment methods used by online shoppers worldwide? - How do online payment method preferences vary across 25+ markets in different regions? - How large is the share of alternative payment methods in global E-Commerce predicted to be in 2020? - What are the most important criteria applied by online shoppers when choosing a method to pay?
Key Topics Covered:
1. Management Summary
2. Global Developments
5. North America
6. Latin America
7. Middle East
- Airtel Payments Bank Ltd - Alipay.com Co. Ltd. - Amazon.com Inc. - American Express Co. Inc. - Android Inc. - Apple Inc. - Axis Bank Ltd - Bank of America Corp. - Bank of Tokyo - Bic Camera Inc. - BillSAFE GmbH - Braspag Ltda. - Cielo S.A. - CurrentC - Deutsche Telekom AG - Discover Financial Services Inc. - Dotpay S.A. - Family Mart Co. Ltd. - FeliCa Networks Inc. - Flipkart Online Services Pvt. Ltd. - Freecharge Payment Technologies Pvt Ltd - HDFC Bank Ltd - ICICI Bank Ltd - iPag Ltda. - JCB Co. Ltd. - JPMorgan Chase & Co. Ltd. - Klarna AB - Lawson Inc. - MasterCard Inc. - MaxiPago Serviços de Internet S.A. - McDonald's Corp. - Mercedes Corp. - Microsoft Corp. - Mi-Pay Inc. - Mitsubishi UFJ Financial Group Inc. - Mundipagg S.A. - Nanaco Co. Ltd. - Oxxo S.A. - PagBrasil Ltda. - PagSeguro Ltda. - PayCash S.A. - Paydirekt GmbH - PayPal Inc. - Paytm Ltd. - PayU S.A. - Prezelewy24 S.A. Rakuten Edy Inc. - Rede S.A. - Samsung Pay Inc. - SBI Inc. - Shopclues.com Ltd. - Snapdeal - Starbucks Corp. - Suica - Target Co. - Tencent Holdings Ltd. - Tenpay Ltd. - Visa Inc. - Wal-Mart Stores - Waon Development Ltd. - Wells Fargo & Co. - Worldpay Inc. - Yodobashi Camera Co. Ltd.