LONDON, Oct. 17, 2016 /PRNewswire/ -- Alternative online payment methods' market share to grow
Credit card remained the leading online payment method on a global scale in 2015, according to the research findings cited in a new report by yStats.com. This method was used by a vast majority of online shoppers in major B2C E-Commerce markets such as the USA, Japan, South Korea, the UK, France and others. However, alternative online payment methods are popular in many emerging markets and as these markets' share of global B2C E-Commerce is rising, the share of alternative online payments will rise.
In Asia-Pacific, where credit cards rank behind third-party online payment services in the region's largest online retail market, China, alternative payment methods had more than 50% of the market in 2014 and were predicted to further increase their dominance in the near future. Also in Asia's smaller developing B2C E-Commerce markets, such as India, Indonesia, Thailand and Vietnam, various alternative payment methods, such as cash on delivery and bank transfers, were more popular among online shoppers than bank cards. The new report by yStats.com further reveals that in many of the countries in the Middle East and Africa cash on delivery ranked first in use by online shoppers in 2015.
Europe is an example of varying degrees of popularity of alternative payment methods and credit cards both in advanced and emerging markets. In Germany, payment by invoice and PayPal were the two leading online payment methods in 2015, while in the Netherlands, local banking method iDEAL had the largest share of the online payment market. By contrast, in some emerging Eastern European markets, including Turkey and Greece, online shoppers used credit cards more than alternative payment methods such as cash on delivery and bank transfer.
Overall, the research findings of yStats.com indicate that the online payment landscape is expected to remain dynamic as global B2C E-Commerce continues to grow, with online shoppers' preferences regarding the use of credit cards and alternative payment methods remaining diverse.
For individual Market Report purchases:
1. A "Single User License" means that only one (1) individually named user of an organization shall be entitled to access the report
2. A "Site License" means that up to ten (10) users within a given geographical location (i.e. country) of an organization shall be entitled to access the report
3. A "Global Site License" means that up to ten (10) worldwide users of an organization shall be entitled to access the report
In all cases, the term "organization" refers to the purchaser's specific company only and excludes any third parties, including affiliates. All purchases are bound by yStats.com GmbH & Co. KG official terms & Conditions. For more detailed information about our licenses, please see our Terms & Conditions at www.ystats.com/terms-conditions.
Download the full report: https://www.reportbuyer.com/product/3707637/
About Reportbuyer
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers
http://www.reportbuyer.com
For more information:
Sarah Smith
Research Advisor at Reportbuyer.com
Email: [email protected]
Tel: +44 208 816 85 48
Website: www.reportbuyer.com
SOURCE ReportBuyer
Related Links
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article