Market Research Report
Global Alternative Online Payment Methods 2020 and COVID-19's Impact
|Published by||yStats.com GmbH & Co. KG||Product code||939495|
|Published||Content info||115 Pages
Delivery time: 1-2 business days
|Global Alternative Online Payment Methods 2020 and COVID-19's Impact|
|Published: May 27, 2020||Content info: 115 Pages||
"Alternative payment methods battle credit cards online"
According to a recent survey cited in the yStats.com report, one-fifth of digital buyers worldwide would not complete an online purchase if their preferred payment method is not offered. While credit and debit cards are the top choices of e-consumers in the USA, Brazil, France, Japan, South Africa, and many other countries, alternative payment means are gaining importance. Among them, E-Wallets such as PayPal and Alipay are the top methods used, already leading in various E-Commerce markets worldwide. Other popular alternatives to credit cards used by online shoppers are bank transfer, cash on delivery, and invoice.
Amid the coronavirus outbreak, the payment choices of digital buyers continue to vary by country and region, as the yStats.com shows. While the overall preference ranking still holds, there is also a significant share of online buyers which are using payment methods they have never used before. For example, nearly one in five digital buyers in Italy paid by a prepaid card online for the first time, and one-tenth of Canada's online shoppers started using a digital wallet. The main factor considered by consumers when choosing a payment method during the pandemic is it security and protection against fraud loss.
Asia-Pacific, Europe, North America, Latin America, Middle East & Africa.
Afterpay Ltd, Alphabet Inc., Amazon Payments Inc, Ant Financial Services Group, Apple Inc, China UnionPay Co Ltd, Jumia Technologies AG, MasterCard Inc., Mercadolibre Inc., Noon AD Holdings, PayPal Holdings Inc, Paytm Mobile Solutions Pvt. Ltd., PayU S.A. Paypal Inc, PS Yandex Money LLC, Tencent Holdings Ltd, Visa Inc.