DUBLIN, Feb. 12, 2016 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/zndp9d/global_online) has announced the addition of the "Global Online Payment Methods: Second Half 2015" report to their offering.
Global online shoppers differ when it comes to choosing a method to pay for their online purchases. While credit cards still account for a large share of online purchases, alternative payment methods are predicted to increase their penetration, already holding strong positions in regions such as Asia-Pacific. Digital wallets and cash on delivery are the strongest competitors for credit and debit cards in the fast growing online payments industry. PayPal, for example, was already used by a moderately high double-digit share of global online shoppers in 2015. The use of cash on delivery is especially prominent in emerging B2C E-Commerce markets, such as Eastern Europe, the Middle East and Africa.
Another important finding is that security remains a major issue for online shoppers and retailers across the globe. When asked about the main criteria for adopting new payment methods, over three quarters of consumers in the top B2C E-Commerce markets surveyed in 2015 mentioned data privacy and security as their primary concern. Nevertheless, the adoption of even the most innovative mobile payment technologies is taking off both in emerging and advanced markets, with peer-to-peer mobile payments establishing themselves as an especially attractive market segment.
Given the diversity of online shoppers' preferences regarding payment methods, as well as their tendency to opt for both safe and convenient payments, online retailers, banks and payment service providers increasingly compete to offer the best payment options to global shoppers. For example, Amazon has launched payment by installments in the UK, while the major credit card networks, including American Express and Visa, are expanding their express checkout solutions. Also in mobile payments completion intensifies. Samsung Pay was launched in the USA after its initial launch in South Korea and Apple Pay cooperated with China UnionPay for its launch in China. Overall, as online and mobile payments continue to grow worldwide, more payment options and services are expected to emerge and gain in importance.
Key Questions Answered
- How do online payment method preferences of online shoppers differ worldwide? - What are some important trends in global online and mobile payments? - How do alternative payment methods rank vis-à-vis credit cards in various B2C E-Commerce markets? - What are some important online payment regulatory changes and market player news in the major markets? - How are mobile payment evolving across the world?
Companies Mentioned
- ASDA - Alipay - AmEx Express Checkout - Amazon - American Express - Apple - China UnionPay - Dinners - Discover - Hitachi Capital Consumer Finance - Master Pass - MasterCard - Mercury - Network International - Otto Group - PagBrasil - PayFort - Paypal - Qiwi - Samsung - Souq.com - TenPay - Visa - Yandex.Money
For more information visit http://www.researchandmarkets.com/research/zndp9d/global_online
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