NEW YORK, Feb. 8, 2016 /PRNewswire/ -- Global online
shoppers differ when it comes to choosing a method to pay for their
online purchases, yStats.com reports. While credit cards still
account for a large share of online purchases, alternative payment
methods are predicted to increase their penetration, already
holding strong positions in regions such as Asia-Pacific. Digital wallets and cash on
delivery are the strongest competitors for credit and debit cards
in the fast growing online payments industry. PayPal, for example,
was already used by a moderately high double-digit share of global
online shoppers in 2015. The use of cash on delivery is especially
prominent in emerging B2C E-Commerce markets, such as Eastern Europe, the Middle East and Africa.
Another important finding in yStats.com's report is that security
remains a major issue for online shoppers and retailers across the
globe. When asked about the main criteria for adopting new payment
methods, over three quarters of consumers in the top B2C E-Commerce
markets surveyed in 2015 mentioned data privacy and security as
their primary concern. Nevertheless, the adoption of even the most
innovative mobile payment technologies is taking off both in
emerging and advanced markets, with peer-to-peer mobile payments
establishing themselves as an especially attractive market
segment.
Given the diversity of online shoppers' preferences regarding
payment methods, as well as their tendency to opt for both safe and
convenient payments, online retailers, banks and payment service
providers increasingly compete to offer the best payment options to
global shoppers. For example, Amazon has launched payment by
installments in the UK, while the major credit card networks,
including American Express and Visa, are expanding their express
checkout solutions. Also in mobile payments completion intensifies,
as yStats.com reveals. Samsung Pay was launched in the USA after its initial launch in South Korea and Apple Pay cooperated with
China UnionPay for its launch in China. Overall, as online and mobile payments
continue to grow worldwide, more payment options and services are
expected to emerge and gain in importance.
Read the full report:
http://www.reportlinker.com/p01908187-summary/view-report.html
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