Market Research Report
Global Online Payment Methods 2020 and COVID-19's Impact
|Global Online Payment Methods 2020 and COVID-19's Impact|
Published: June 17, 2020
yStats.com GmbH & Co. KG
Content info: 197 Pages
Delivery time: 1-2 business days
"Digital payment transactions grow during the Coronavirus pandemic."
Consumers' payment behavior is changing as a result of the coronavirus outbreak, according to the yStats.com report. Nearly 50% of global shoppers were using digital payments more than before the pandemic, and the majority plan continue doing so after the virus is contained. E-Wallets and contactless cards are the top payment methods benefitting from this change, as consumers use less cash and make more purchases online. In an international survey cited in the yStats.com report, close to three-quarters of respondents found that contactless was a cleaner way to pay.
When purchasing on E-Commerce websites during the pandemic, global consumers mainly use credit cards and digital wallets, although there is also strong variation in the way shoppers in different countries pay online. For example, more than two-thirds of digital buyers in Canada chose to pay by credit card when shopping online during the outbreak, while UK's buyers preferred debit cards and those in Italy opted for digital wallets like PayPal. Payment security was the top criterion applied by online shoppers when selecting their top payment method, according to an April 2020 survey cited by yStats.com.
Asia-Pacific, Europe, North America, Latin America, Middle East & Africa.
Alphabet Inc, Amazon.com Inc., Ant Financial Services, Apple Pay Inc, Facebook Inc, Go-Jek, Grab Holdings Inc, Kakao Corp., LINE Corp., Mastercard Inc, MercadoLibre Inc, Naver Corp., PayPal Holdings Inc, PayPay Corp., Paytm E-Commerce Pvt Ltd, PS Yandex Money LLC, Rakuten Inc, Samsung Electronics Co. Ltd., Tencent Holdings Ltd, Visa Inc.