Hamburg, Germany, March 20, 2016 --(PR.com
)-- 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 further information, see: https://www.ystats.com/wp-content/uploads/2016/03/20160316_Global-Alternative-Online-Payment-Methods_Full-Year-2015_by-yStats.com_.pdf
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Founded in 2005 and headquartered in Hamburg, Germany, yStats.com is one of the world's leading secondary market research companies. We are committed to providing the most up-to-date and objective data on Global B2C E-Commerce and Online Payment markets to sector-leading companies worldwide.
Our multilingual staff researches, gathers, filters and translates information from thousands of reputable sources to synthesize accurate and timely reports in our areas of expertise, covering more than 100 countries and all global regions. Our market reports focus predominantly on online retail and payments, but also cover a broad range of related topics including M-Commerce, Cross-Border E-Commerce, E-Commerce Delivery, Online Gaming and many others. In addition to our wide selection of market reports, we also provide custom market research services.
We are proud to cooperate with companies like Bloomberg and Thomson Reuters. Given our numerous citations in leading media sources and journals worldwide, including Forbes and the Wall Street Journal, we are considered one of the most highly-reputed international secondary market research companies with an expertise in the areas of B2C E-Commerce and Online Payment.