DUBLIN, March 22, 2018 /PRNewswire/ --
The "Global Online Payment Methods: Second Half 2017" report has been added to ResearchAndMarkets.com's offering.
Global Online Payment Methods: Second Half 2017 summarizing trends in payment methods in online retail. The report contains a prediction that early in the next decade the share of B2C E-Commerce paid for by E-Wallets will surpass that of credit or debit cards.
The rise of alternative payment methods represents one of the top payment trends in global B2C E-Commerce. According to one projection cited in the report, the share of credit and debit card payments in worldwide online sales could decline to less than one-quarter in four years' time. E-Wallets, such as PayPal and Alipay, are expected to dominate online payments with a sales share of close to one-half by 2021.
In China, the world's largest E-Commerce market, online and mobile payments processed by third-party services count several trillions of U.S. dollars per year, and are still growing at double-digit rates for online and triple-digit rates for mobile payments. In Europe, digital wallet is the most preferred online payment method on a regional average, although in multiple countries such as France, Belgium and Sweden, payment cards remain in the lead. Also in the U.S. a higher share of online shoppers preferred to pay by filling out a standard credit card form than using a digital wallet such as PayPal, as of 2017.
Overall, the report reveals that preferences of online shoppers with regard to payment methods vary by country. For example, many consumers in Brazil use local banking method Boleto, with this method ranking second only to credit cards. In Germany, more shoppers pay by PayPal or invoice than by credit card, while in Indonesia digital buyers would rather pay via ATM. In several countries of Eastern Europe and Middle East cash on delivery remains the top payment choice of online shoppers, as consumers are vary of online payment security or lack means to pay over the Internet.
Another finding of the report is the growth of mobile payments worldwide. Among the global regions, the highest mobile payment penetration rate among Internet users was in Asia-Pacific, followed by Latin America and the Middle East and Africa, as of mid-2017. Also in North America and Europe, mobile payment usage has grown, with competition among mobile wallet providers increasing.
Key Topics Covered:
1. Management Summary
2. Global Developments
Breakdown of E-Commerce Sales by Payment Methods, in %, 2021
Top Two Payment Methods Preferred in Cross-Border Online Shopping, in % of Cross-Border Online Shoppers, 2016 & 2017
Penetration of Bank Account Holders Willing to Share Personal Financial Data with Third-Party Providers to Use Their Services, in %, by Selected Countries, August 2017
Share of Internet Users Who Believe That Mobile Payment is Not Secure, in %, October 2016
Mobile Payment User Penetration, in % of Internet Users, by Regions, Q4 2015 & Q2 2017
Apple Pay User Penetration Compared to Overall Mobile Payment User Penetration, in % of Internet Users, by Penetrated Markets, Q2 2017
FinTech Adoption Rate, in % of Internet Users, by Selected Countries, 2017
Most Used FinTech Services According to Internet Users, in %, 2017
Most Relevant Emerging Technologies for Large FinTech and Financial Companies to Invest In, in % of Respondents in Each Group, April 2017
Top 10 VC-Backed FinTech Unicorns by Valuation, in USD billion, Q3 2017
5. North America
6. Latin America
7. Middle East
- Ant financial services
- China UnionPay
- Japan Post Bank
- Mizuho Financial Group
- Osaifu Keitai
For more information about this report visit https://www.researchandmarkets.com/research/flm5jc/global_online?w=5
Research and Markets
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SOURCE Research and Markets