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 the yStats.com 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 yStats.com 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.
Online retail payments trending away from cards, according to yStats.com report hinzugefügt von Redaktion am
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