Global Alternative Online Payment Methods: Second Half 2017

  • ID: 4481141
  • Report
  • Region: Global
  • 89 pages
  • yStats GmbH & Co. KG
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until Sep 30th 2018
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Online Retail Payments Trending Away from Cards, According to Report

FEATURED COMPANIES

  • Ant financial services
  • China UnionPay
  • iDeal
  • MasterCard
  • Oxxo
  • Paytm
  • MORE

A new report “Global Alternative Online Payment Methods: Second Half 2017” includes the payment preference for online shopping in over 30 countries. The report predicts that the leadership of payment cards in worldwide E-Commerce will give way to digital payments such as PayPal and Alipay by 2021.

E-Wallets, exemplified by PayPal and Alipay, are the most common of the new payment alternatives used by global online shoppers. Other popular payment methods include transfer to a seller’s bank account or cash on delivery. This latter payment method continues to dominate in E-Commerce in the Middle East and Eastern Europe. There are also other country specific payment alternatives to card payments, but the global trend is toward digital wallets, expected to account for almost one half of online retail sales payments by 2021, according to a forecast cited in this latest report.

The Asia-Pacific region is the leader in this trend, as digital and mobile wallet payments were used for nearly 50% of all E-Commerce there last year. In global E-Commerce leader China, alternative payment through third party processors is growing at double digit rates. The report points to other countries where alternative methods have already overtaken the use of plastic, though the publication also tells of markets such as France and Belgium where credit cards still predominate in online payment.

Questions Answered in this Report

  • What are the leading alternative online payment methods worldwide?
  • How do alternative methods rank against payment cards in 30+ global markets?
  • What is the forecast for the share of alternative online payment methods in global E-Commerce by 2021?
  • How do the preferences of online shoppers in different countries with regard to payment methods vary?
  • What are the key payment trends in the world's top 5 E-Commerce markets?
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FEATURED COMPANIES

  • Ant financial services
  • China UnionPay
  • iDeal
  • MasterCard
  • Oxxo
  • Paytm
  • MORE

1. Management Summary

2. Global developments
Breakdown of E-Commerce Sales by Payment Methods, in %, 2021f
Top Two Payment Methods Preferred in Cross-Border Online Shopping, in % of Cross-Border Online Shoppers, 2016 & 2017

3. Asia-Pacific
3.1. Regional
Breakdown of E-Commerce Sales by Payment Methods, in %, 2017e
3.2. Advanced Markets
3.2.1. Japan
Online and Mobile Payment Trends, January 2018
Payment Methods Used in E-Commerce, in % of Online Shoppers, 2016
3.2.2. Australia
Breakdown of Online Payments by Payment Method, in %, 2013 & 2016
3.3. Emerging Markets
3.3.1. China
Online and Mobile Payment Trends, January 2018
Third-Party Online Payment Volume, in CNY trillion, by Two Comparative Estimates, Q1 2016 – Q2 2017
Breakdown of Third-Party Online Payment GMV by Players, in %, by Two Comparative Estimates, Q2 2017
3.3.2. India
Share of Urban Online Shoppers Who Switched from Cash on Delivery to Online Payment Methods Following Demonetization, in % of Online Shoppers, 2017
Breakdown Payment Methods Preferred in E-Commerce, in % of Urban Online Shoppers, 2017
3.3.3. Indonesia
Top 3 Payment Methods Used in E-Commerce, in % of Internet Users, 2016
3.3.4. Singapore
Share of Cards and Digital Wallets in E-Commerce Sales, in %, 2013 & 2017e
3.3.5. Thailand
Payment Methods Used in E-Commerce, in % of Online Shoppers, July 2017
3.3.6. Malaysia
Payment Methods Used in E-Commerce, in % of Online Shoppers, February 2017
3.3.7. Vietnam
Payment Methods Used in E-Commerce, in % of Online Shoppers, 2015 & 2016

4. Europe
4.1. Regional
Top 10 Payment Methods Preferred in E-Commerce, in % of Online Shoppers, 2016 & 2017
4.2. Advanced Markets
4.2.1. UK
Online and Mobile Payment Trends, January 2018
Top 3 Payment Methods Used in E-Commerce, in % of Internet Users, 2017
Top 3 Reasons for Checkout Abandonment, in % of Internet Users, 2017
4.2.2. Germany
Online and Mobile Payment Trends, January 2018
Payment Methods Used in E-Commerce, in % of Online Shoppers, May 2017
Payment Methods Offered, in % of Top 1,000 Online Shops, 2015 & 2016
4.2.3. France
Payment Methods Preferred in E-Commerce, in % of Online Shoppers, June 2017
4.2.4. Spain
Payment Methods Used in E-Commerce, in % of Online Shoppers, 2016 & 2017
Breakdown of Factors Most Important in Online Payment Methods, in % of Online Shoppers, October 2017
4.2.5. Italy
Payment Methods Preferred in E-Commerce, in % of Online Shoppers, June 2017
4.2.6. Netherlands
Payment Methods Preferred in E-Commerce, in % of Online Shoppers, June 2017
4.2.7. Sweden
Payment Methods Used and Preferred in Online and Mobile Shopping, in % of Online Shoppers, Q2 2017
4.2.8. Switzerland
Payment Methods Preferred in E-Commerce, in % of Online Shoppers, June 2017
4.2.9. Belgium
Payment Methods Preferred in E-Commerce, in % of Online Shoppers, June 2017
4.3. Emerging Markets
4.3.1. Russia
Payment Methods Used in E-Commerce, in % of Active Internet Users, H1 2017
Payment Methods Used in E-Commerce, in % of Online Shoppers, 2016 & 2017
Breakdown of Last Online Purchase by Payment Method, in %, 2016 & 2017
4.3.2. Poland
Payment Methods That Encourage Online Shoppers to Purchase Online, in % of Online Shoppers, April 2017
4.3.3. Czech Republic
Payment Methods Preferred in E-Commerce, in % of Online Shoppers, June 2017

5. North America
5.1. USA
Online and Mobile Payment Trends, February 2018
Breakdown of Payment Methods Preferred in E-Commerce, in % of Online Shoppers, February 2017
Ways in Which Fear of Hacking Has Influenced Online Shopping Behavior, in % of Online Shoppers, January 2017
5.2. Canada
Top 3 Payment Methods Preferred in E-Commerce, in % of Respondents, March 2017
Breakdown of E-Commerce Sales by Payment Systems, in %, 2015 & 2016

6. Latin America
6.1. Brazil
Share of Top 10 B2C E-Commerce Payment Methods of Orders Placed and Approved Orders, in %, and Approval Rate by Payment Method, in %, Q1 2017 
Factors Important for the Decision to Purchase in E-Commerce, incl. Payment-Related, in % of Online Shoppers, April 2017
Payment Methods Used in M-Commerce, in % of Mobile Shoppers, September 2017
6.2. Mexico
Online Payment Methods Used in E-Commerce, by Device Used, in % of Online Shoppers, August 2017
Offline Payment Methods Used in E-Commerce, by Device Used, in % of Online Shoppers, August 2017
Top 5 Most Important Aspects in E-Commerce Payments, in % of Online Shoppers, February 2017
6.3. Colombia
Payment Methods Used in E-Commerce, in % of Online Shoppers, August 2016

7. Middle East
7.1. Regional
Top 3 Barriers to Online Shopping, in % of Local Millennials in the GCC Who Did Not Shop Online, July 2017
7.2. UAE
Breakdown of Payment Methods Preferred in Online Shopping, in % of Online Shoppers, 2016
7.3. Saudi Arabia
Payment Methods Used in E-Commerce, in % of Online Shoppers, May 2017
Breakdown of Payment Methods Preferred in Online Shopping, in % of Online Shoppers, 2016
Breakdown of Payment Methods Most Used in Online Shops According to E-Commerce Merchants, in % of Surveyed E-Commerce Merchants, June 2017
7.4. Qatar
Payment Methods Preferred in E-Commerce, in % of Online Shoppers, 2016
7.5. Kuwait
Breakdown of Payment Methods Preferred in Online Shopping, in % of Online Shoppers, 2016
7.6. Lebanon
Payment Methods Preferred in E-Commerce, in % of Online Shoppers, 2016

8. Africa
8.1. South Africa
Breakdown of Payment Methods Preferred in E-Commerce, in % of Online Shoppers, August 2017
Breakdown of Factors that Would Encourage to Shop Online More, incl. Payment-Related, in % of Online Shoppers, August 2017
8.2. Egypt
Top 3 Payment Methods Preferred in E-Commerce, in % of Online Shoppers, 2016

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FEATURED COMPANIES

  • Ant financial services
  • China UnionPay
  • iDeal
  • MasterCard
  • Oxxo
  • Paytm
  • MORE

Alternative Online Payment Methods To Lead Global B2C E-Commerce
 
By 2021, alternative payment methods are projected to account for around threequarters of E-Commerce payments worldwide, according to a forecast cited in this report. E-Wallets such as PayPal and Alipay are expected to make the largest contribution of close to one-half of online retail sales at the end of the forecast period. The trend towards increased usage of digital wallets and other alternative online payment methods is pronounced in multiple countries around the world, and in cross-border online shopping, EWallets were already ahead of credit cards in global online shoppers’ preference in 2017.

Asia-Pacific has taken the lead in promoting alternative online payment methods. As of 2017, digital and mobile wallets accounted for nearly 50% of E-Commerce sales in this region. In China, online payment volume processed by third-party providers including Alipay, Tenpay and others is growing at double-digit rates, and even in countries where credit cards traditionally dominate ECommerce payments, such as in Australia, E-Wallets have seen their share increase rise. Also in Europe digital wallets rank as the most preferred payment method of online shoppers on a regional average. In some countries, however, including France and Belgium, credit cards still rank the highest. 

Besides E-Wallets, other leading alternative online payment methods include bank  transfer, especially popular among Southeast Asian nations, and cash on delivery, still significant in selected countries of the Middle East and Eastern Europe, according to consumer surveys in this report. Moreover, several local alternative payment methods have high usage rates in their respective markets, such as iDEAL in the Netherlands, Boleto Bancario in Brazil and payment at convenience stores in Japan.

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  • Ant financial services
  • Apple
  • China UnionPay
  • Google
  • Klarna
  • iDeal
  • MasterCard
  • Mobikwik
  • Oxxo
  • PayPal
  • PayU
  • Paytm
  • Tencent
  • Visa
  • Wal-Mart
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