New report by yStats.com: Credit cards remain the dominant online payment method in North America

According to a new report published by Germany-based secondary market research firm yStats.com, bank cards, in particular credit cards, are expected to retain their leading position as the major payment method used by online shoppers in North America. yStats.com’s CEO and Founder, Yücel Yelken, highlights further details from the report “North America Online Payment Methods Full Year 2015”: “While cards will continue to lead, innovative forms of online and mobile payments are gradually gaining acceptance by consumers in North America”.

Both in the USA and Canada, credit card was the payment method most used by online shoppers in 2015, according to yStats.com’s new market report. In Canada, credit card accounted for more than two thirds of the online shopping volume, and in the USA a third of online shoppers believed that credit card was also the safest way to pay over the Internet. While in regions such as Asia-Pacific, alternative online payment methods already hold a higher market share than credit cards, in North America, cards are predicted to retain leadership.

Digital payment methods are gradually becoming a daily norm not only for online shoppers, but for consumers generally in North America. This is especially evident from the growth of mobile payments, as shown in the report by yStats.com. By 2020, nearly a quarter of consumers in this region would be using mobile payment apps at least weekly, up from a low double-digit share in 2015. Peer-to-peer mobile payments are especially predicted to rise, with the number of peer-to-peer mobile payment users doubling in four years to 2018. Already in early 2015, digital methods such as PayPal, online and mobile banking were among the top payment methods used in peer-to-peer payments.

To meet the growing demand of consumers in online and mobile payment methods, payment providers, retailers and banks in North America are launching new payment solutions. In the USA, Amazon, Apple and Google were among the top choices of online shoppers who would trust these companies to supply them with innovative payment forms, according to a survey from mid-2015, cited in yStats.com’s report. Overall, the rivalry in digital payments in North America remains intense.

About yStats.com

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.

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This release was published on openPR.