Report from yStats.com: digital payment methods surge in global online retail

Germany-based desk research firm yStats.com has released a new publication, “Global Online Payment Methods: Second Half 2017” summarizing trends in payment methods in online retail. The report contains a prediction that early in the next decade the share of B2C E-Commerce paid for by E-Wallets will surpass that of credit or debit cards.

Cash on delivery and plastic cards have long been the dominant payment methods globally for online retail purchases, but in Europe and Asia digital alternatives such as PayPal and Alipay are already leading the traditional payment methods. A projection included in the yStats.com report shows the share of credits and debits cards decreasing to less than a quarter of global online sales by 2021, while digital wallets will account for about half of E-Commerce payments by that time. Of course, there are exceptions to this trend: In countries including France and the USA consumers seem to persist in utilizing plastic when paying for online purchases, and in the Middle East and Eastern Europe, shopper concern over payment security makes cash on delivery the predominant payment method. However, in China, the world’s largest online retail market, online payment by third-party payment providers and mobile payment are growing at vertiginous rates tilting the global total to digital wallets.

In addition to the E-Wallets, another alternative payment method seeing rapid growth not only in China, but globally is mobile payment. The yStats.com publication reports that the highest mobile penetration rate is in Asia, followed by the Middle East and Africa and Latin America. Though lagging behind growth rates in emerging markets, competition among mobile wallet providers is also contributing to growth in North America and Western Europe.

For further information, see: https://www.ystats.com/wp-content/uploads/2018/02/2018.02.20_Product-Brochure-Order-Form_Global-Online-Payment-Methods_Second-Half-2017.pdf

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.