PAYMENTS REPORT
Your denitive guide to the world of online payments
NOVEMBER 2017
Contents Methodology
This report has been compiled using a mixture of primary and secondary data sources.
Methodology Primary refers to our own surveys and commissioned research; whereas secondary
refers to authoritative third-party vendor data, and other publicly available data.
The report also draws upon Worldpays decades of experience in providing global
eCommerce solutions. The eCommerce projected growth gures contained in this
Global payment trends report were sourced from GlobalDatas E-Commerce Analytics database and relate to
the eCommerce industry as a whole, not Worldpays business. GlobalData collected
this data using consumer surveys, B2B surveys and desk research. Any indicative
predictions based on the data we have used should be treated as such.
Key insights
Its also worth noting that this year Charge and Deferred Debit Card was broken out as
its own category for the rst time. Previously those payment methods were included
in the Debit Card share, so in markets where Charge and Deferred Debit exists,
Debit Card is likely to have declined in share from last year. Also, the Card Scheme
Market guides
Breakdown gures are representative of total payments and are not exclusive to
eCommerce. Due to changes to the way data is collected by our provider (GlobalData),
some baseline eCommerce projected growth gures may be dierent from last
years edition.32
Payment method denitions
As well as the primary and secondary sources mentioned above, sources used for this
report also include specic organisations and publications such as:
2016 2021
2016 2021
Whilst only one third the size of Mexico and one fth of the size of Brazil, Argentinas According to the PEW Research Center, Argentina also has the advantage of a
44 million-strong population is powering an eCommerce boom. The country is higher per-capita spending power than its regional neighbours due to its relatively
forecast to have the fastest-growing eCommerce market in Latin America, growing large middle class population.9 Argentines not only have money to spend, they are
at an annualised rate of 24% for the next ve years and outpacing both Mexico and also already comfortable paying by card. Argentina has the highest Credit Card
Brazil by 7 and 17 percentage points respectively.1 penetration in Latin America, on par with many European countries and established
eCommerce markets.10
Add to this the fact Argentina boasts the highest internet penetration rate in the
region, at 80.1%,2 and the highest percentage of mobile internet users in Latin After years of challenging market conditions, such as high taxes on foreign imports,
America,3 Argentina is poised to become an eCommerce powerhouse and draw improved stability and economic growth have made Argentina an attractive
even with Brazil as early as 2024.4 location for foreign investment and expansion.
The nation boasts a relatively well-banked population, with nearly one bank Given the vast size of the country, merchants looking to tap into the Argentine
account per capita.5 Consumers are already comfortable shopping online and are market would do well to establish robust delivery logistics and capitalise on the
waiting for more access and options to choose from. According to the CACE, 90% convenience benets of eCommerce. Equally, they should oer customers the
of connected adults in Argentina have already made at least one online purchase option to pay in instalments, which continues to be the preferred payment method
and as mobile penetration continues to grow, the number of connected consumers for many locals.
will grow in tandem.
There are also political drivers behind Argentinas eCommerce explosion. Reform
put into place by a new administration has re-opened the countrys eCommerce
market to foreign business and investors.
Since Argentinian president Mauricio Macri took oce in 2015 there has been a
marked focus on economic deregulation and integration with world markets.7 This
move has drawn new major entrants from foreign markets, such as Nespresso and
Spotify, and allowed local merchants to expand their export links to new overseas
markets.8 Combined, these trends are stimulating economic growth and seeing
Argentines enjoy greater choice and access to a wide range of goods and services.
Biometric
Authentication
Biometrics to spell the end of passwords
Biometric
Authentication
Biometrics to spell the end of passwords Of course, just as quickly as a new technology evolves, fraudsters are hot on
its heels trying to nd ways of bypassing more advanced security checks, and
biometrics is no dierent. In fact, because biometric information cannot be
The fundamental goal of authentication is to prove that a person is who they say changed as easily as a password or PIN it is vitally important for companies to have
they are. This means ensuring that the person authorising a payment is truly the appropriate security controls in place and ensure this data is never compromised.
person connected to that particular method of payment, and has made a conscious The risk of a biometric data compromise is substantially lower when aggregate
decision to buy. data is encrypted on a web server, or not stored on a web server at all unlike the
storage of user names and passwords in the past.
Historically, companies asked customers to prove their identity via signatures, PINs
and passwords, but biometric technology increasingly allows people to prove their Substantial eort is being put into developing biometric technologies that require
intent to purchase in the most natural way possible by simply being themselves. more sophisticated input from shoppers. When using facial recognition, for
Crucially, this is entirely based on information that is unique to the individual. instance, people are often asked to move their head in a certain way that is also
tracked by the software. For their part, shoppers using voice biometrics may be
With many forms of biometric authentication now available, it can be daunting to
challenged to read dierent words each time they make a purchase. Both these
decide which will be the way of the future. Current methods include ngerprint
techniques may help to prevent photographs or voice recordings being used by a
scans, iris scans, heartbeat scans, voice recognition, facial recognition, palm vein
rogue third party.
scanning, and even ear prints.
Increasingly sophisticated authentication technologies are leading the shift
While much of this technology has been used for other applications, consumers
away from PIN, signatures and passwords and towards innovative biometric
are becoming more and more familiar with biometric technology for the purpose
authentication methods. The miniaturisation of scanning components and
of authorising a payment, particularly as merchants look for ways to oer them a
increasing nancial viability of biometric sensors is also precipitating this evolution.
quicker, easier checkout process while also protecting both parties from fraud.
The result will be a safer, more seamless authentication experience for consumers
Biometrics will become increasingly relevant as Europe mandates stronger and merchants alike.
customer authentication that will require merchants to collect at least two pieces
Whilst nearly all mobile wallets have allowed for payment authentication via
of information about each consumer during a sale. Buyers will need to prove who
ngerprint scan or PIN in the past,11 Apples recent debut of the iPhone X is set
they are with a combination of something they have, something they know and/or
to lead a shift away from ngerprint scanning. Mastercard was rst to introduce
something they are, and it is in this last category where biometric technology holds
sele pay technology (formally known as Mastercard Identity Check), which uses
great promise.
facial recognition and requires the shopper to blink during authentication but
We often think of biometric authenticated payments at the point-of-sale, but Apples 3D scanning face ID and liveness detection technology, built into the phone
it is increasingly being used for eCommerce to serve customers who use a hardware, has the potential to change the game for future authentication.
mobile device, as well as those who use a biometric-enabled laptop or desktop.
Apples condence in their facial recognition technology is evident, especially as
Features like Windows Hello, which scans a users face to identify them, may have
their agship phone no longer has a ngerprint scanner. As the company tends to
applications in payments, which could further drive biometric authentication on
lead the industry on the adoption of new technologies, Apples move towards facial
non-mobile devices.
scanning is a strong indication that the market will follow suit.
Silver Surfers
Baby Boomers and Silver Surfers to reshape
global payments market
Silver Surfers
Baby Boomers and Silver Surfers to reshape global
payments markets
Despite boasting a relatively large disposable income, older consumers are often As lifespans extend and seniors start to make up an increasing percentage of the
overlooked by merchants who continue to focus on attracting millennials. Armed global population, eCommerce merchants will need to focus on this booming
with signicant spending power and better health than previous generations, baby business opportunity. This will involve adapting their user experience, providing
boomers are becoming increasingly enthusiastic about shopping online and are intuitive and straightforward product information, a quick and ecient payment
on track to become a far more lucrative customer base in the near future. By some process, and customer service which demonstrates their brand values for
estimates, global household spending by people aged over-60 will reach $15tn by all generations.
2020, twice as much as it did in 2010.12
In both developed and emerging economies around the world, an ageing population
is changing the demographic shape of eCommerce markets. In Hong Kong, for
instance, 71% of seniors shopped online in the past 12 months,13 while this number
jumps to 78% in the UK.14 A survey of retail habits in Switzerland by PwC reveals
that 82% of consumers over 65 shop online, specically to purchase high value
goods such as electronics and furniture.15
The high purchasing power of baby boomers comes down to a number of factors.
By retirement age, many will have paid o their household mortgages and childrens
education; hence the usual bump in senior consumer spending on travel and
leisure. In Europe, people over 50 spend 71% more than young people on their
average purchases.16 In the U.S., consumers over 50 will soon account for 70% of
the countrys disposable income.17
Of all the alternative payment methods gaining eCommerce market share, Bank In addition, payment methods like Sofort, iDEAL and Trustly are proving popular
Transfers are proving the most interesting both in terms of their growth and with European consumers and continue to win market share from more traditional
technological evolution. eWallets remain the global payment method of choice for payment methods. Regulatory changes occurring in the region are sure to spur
eCommerce, and will continue to grow in popularity, but Bank Transfers will make further innovation, as new players enter the market and take advantage of recent
substantial gains over the next ve years, surpassing both Credit and Debit Cards initiatives, like PSD2, to open up bank account access.21
in popularity.
Convenience is also driving the adoption of bank transfers for eCommerce
In fact, they are forecast to become the second most popular payment method payments in the developing world, but above all adoption is being driven by
globally by 2021, with an eCommerce market share of 16.5%. large portions of the population gaining account access and capitalising on this.
Particularly in countries where people are already comfortable using mobile phones
13 of the 36 eCommerce markets studied by Worldpay to develop this report listed for low-value instant payments, consumers have been quick to use Bank Transfer
Bank Transfers as the preferred payment method for 20 or more percent of all for larger value purchases once they become available.
eCommerce purchases. Crucially, these 13 markets span every continent except
North America,20 which shows that the rise of Bank Transfers is a global trend. In all In Malaysia and India, there has been marked success with government policies
cases, there are two main drivers for this growth: convenience and access. to expand nancial inclusion and access to bank accounts. Malaysia in particular
has achieved the highest level of nancial inclusion in South East Asia, with 81% of
In the established eCommerce markets of Western Europe, where many consumers adults having an account with a licensed nancial institution,22 whereas in India,
already have bank accounts and multiple options for payment methods, people currently only 53 percent of those aged +15 years had a bank account in 2014.23 By
value the convenience of only having to remember their online banking details comparison, 61% of all adults have bank accounts globally.24 Because not all bank
rather than the information needed when paying by card. In addition, as Bank accounts automatically come with linked payment cards, Bank Transfers are often
Transfers are instant there is also no concern about having available credit or the easiest and most attractive way for consumers to access funds for
needing to pay a bill at the end of the month. Once a transaction is complete, a online purchases.
consumer simply needs to wait for their purchase to be delivered.
Bank Transfers are also an attractive option for online merchants, as there is
Another driver in the region is that European consumers have a high level of trust generally a lower cost of payment acceptance than for payment cards. This has
in their banks and in online banking, and therefore feel condent that a payment made them an appealing option to oer alongside eWallets and Credit and
made via bank transfer will be reliable and protected from fraud. Debit Cards.
Subscriptions
Subscription services: the price of convenience
Subscriptions
Subscription services: the price of convenience
The rise of on-demand services like Amazon Prime, Netix and Spotify has Subscriptions are also helping traditional businesses to adapt to new consumer
reshaped entire industries. More recently, subscription services have become habits. For example, Volvo recently announced plans to sell cars via monthly
common among consumers buying groceries, beauty products, clothing, owers subscription. Unlike leasing or nancing, this approach mimics that of a mobile
and more, thanks to a growing demand for convenience among both consumers phone contract whereby customers can upgrade every year or two as new models
and merchants. are released.30 Consumers increasingly crave the latest model of everything from
cars to smartphones to sports equipment and this form of exible subscription
Amazon alone now has 85 million Prime members, a 35% increase since the end will likely extend to a range of lifestyle goods.
of 2016.25 For its part, Spotify reached 60 million paying subscribers as of July 2017,
double the number it had in March 2016.26 The benet of subscriptions to consumers is clear, but they also oer signicant
advantages for merchants. Most importantly, recurring billing provides a steadier
As peoples lifestyles become more complex to manage, subscriptions reduce ow of income and helps them reduce churn. By making it possible for customers
what many see as the burden of choice so that we can save our time and decision- to spend smaller amounts over time, retailers can build a longer term relationship
making eort for more important matters. To add to this, once a consumer has with them and gather a range of insights on how demands and preferences change
signed up to a subscription service the act of payment fades into the background over time. This in turn arms them with insight with which to tailor their products or
of their everyday life, which means they can regularly enjoy their new goods or services. Costco turns over its entire product suite 12 times a year to serve its 75
services without consciously paying a bill at the time of purchase. This is especially million US subscribers.31
the case for young consumers. In the US, for instance, 92% of millennials have
active subscriptions. Its worth noting this percentage is lower, but still signicant, Online merchants considering a move to subscription-based payments must rst
among retirees, at 70%.27 ensure that their back oce infrastructure and technology platforms are equipped
to deal with customised billing models. They also need to be exible and support a
Content subscriptions continue to grow in popularity, but remain in a state of range of payment methods including Credit and Debit Cards, Bank Transfers and
ux. The digitalisation of information and news has fundamentally changed how eWallets, among others particularly if they want to deliver a consistent level of
people consume content and therefore how they want to pay for it. Virtually every service in multiple markets with dierent payment preferences.
major news provider has sought to monetise its platform, with varying degrees
of success. While the New York Times picked up 130,000 new subscribers in Equally, subscription-based businesses must be able to conrm that the Credit and
November 2016, 10 times its average monthly growth rate,28 many publishers are Debit Card details they have on le for each customer are correct before accepting
still struggling to build a robust base of paying digital users. a payment, so as to avoid missed revenue due to lost, stolen or out of date cards.
In the retail sector, increasing competition and a call for greater convenience is
precipitating a shift towards subscription-based business models. From Birchbox,
which oers subscribers the latest in beauty products, to Eleven James,29 which
allows customers to rent luxury watches, subscription-based retail is on the rise.
Not only do these oer a new way to engage with consumers, they also promote
a stickier relationship with people who would otherwise be less regular shoppers.
This is a major selling point at a time when consumer loyalty is hard to nd.
Market guides
Instalment payments are an 2016 ECOMMERCE MIX BY PAYMENT METHODS
important aspect of eCommerce
2017 POPULATION
POPULAR ALTERNATIVE PAYMENT METHODS
44.3 Million
2017 GDP
Bank Transfer
US$629 bn
WHO HAVE INTERNET ALL CARD SCHEME BREAKDOWNS
78%
MOBILE SUBSCRIPTIONS PER CAPITA
57% 22% 8% 6% 5% 2%
1.46
42
29
d+17
Local Card Schemes 8% Cabal 2%
Credit Cards are still overwhelmingly
the most preferred payment method
for eCommerce sales. Paying by ECOMMERCE PROJECTED GROWTH
instalment is also very popular US$21 bn
US
and should be an option oered to US$14 bn
consumers most prefer a plan with
US$8 bn US$7 bn
7-12 instalments.
ARGENTINA
US$6 bn
US$2 bn
2017 2021
56321653 3723171195421
Credit Cards are losing their
share of domestic eCommerce.
Cross-border eCommerce
accounted for nearly 20% of
Australian eCommerce in 2016, and
86% of online shoppers said that
they had completed a cross-border
purchase. mCommerce is another
growing trend thanks to the high
prevalence of smartphone use and
consumers willingness to transact Charge & Deferred 4%
Credit Card 37%
via their mobile device. Debit Card
eWallet 22%
PostPay 3%
Bank Transfer 15%
Pre-Paid 2%
Debit Card 9%
PrePay 1%
Cash on Delivery 7%
2017 POPULATION
2017 GDP
US$1.36 tn
WHO HAVE INTERNET ALL CARD SCHEME BREAKDOWNS
87%
MOBILE SUBSCRIPTIONS PER CAPITA
44
14
d+25
Mastercard 22%
Mobile shoppers are likely to shop
more often at stores that save
their payment details for one-click ECOMMERCE PROJECTED GROWTH
ordering. Consider oering one-click US$37 bn
ordering to make online checkout
US$26 bn
as seamless as possible. Given the US$21 bn
decline in use of Credit Cards here, US$17 bn US$16 bn
AUSTRALIA
make sure to oer popular eWallets US$9 bn
27712219158521
penetration, with its share of
online spending expected to
nearly double in 2017. In Belgium,
eCommerce is generating net
new sales for merchants. Only
32% of consumers are using
online shopping to buy things
they otherwise would have bought
in person. Over the last ve
years, Belgium has increased the
percentage of internet users who Cash on Delivery 7%
Credit Card 25%
bought online by 10%. E-invoices 5%
Bank Transfer 20%
eWallet 17% Pre-Paid 2%
Debit Card 14% Direct Debit 1%
Charge & Deferred 8% PrePay 1%
Debit Card
2017 POPULATION
2017 GDP
Bank Transfer
US$463 bn
WHO HAVE INTERNET ALL CARD SCHEME BREAKDOWNS
821241
86%
MOBILE SUBSCRIPTIONS PER CAPITA
36
23
d+5
Traditional Credit and Debit
Cards and PayPal are consumers
preferred payment methods for ECOMMERCE PROJECTED GROWTH
online purchases. In this market,
consumers are open to eWallets but US$14 bn
BELGIUM
US$3 bn
free shipping as of early 2017, so US$2 bn
2121
11194 62
use, which can create friction for
cross-border eCommerce. While
mCommerce isnt widely used
yet, most consumers are aware of
and interested in it, so businesses
that actively enhance their mobile
shopping experience should see
this investment pay o in future.
US$2.14 tn
WHO HAVE INTERNET
Bank Transfer
65%
ALL CARD SCHEME BREAKDOWNS
5431103
MOBILE SUBSCRIPTIONS PER CAPITA
1.30
43% 42% 10% 2% 2% 1%
32
18
d+13
Elo 10% Cabal 1%
Credit Cards and Boletio Bancrio
were the two most preferred payment
methods in 2016. Most consumers ECOMMERCE PROJECTED GROWTH
prefer payment via an instalment
plan. To appeal to Brazilians, oer this US$23 bn
option to maximise potential sales. US$18 bn
US$13 bn US$13 bn
BRAZIL
US$10 bn
US$5 bn
2017 2021
311263211 72
of a mobile phone for shopping at
least weekly or daily has increased
by more than 50% from 2014 to
2016 but this remains relatively
low when compared to other
developed markets as only a third
of smartphone users do so for
eCommerce. PayPal was cited as
the most popular payment app
among mobile users.
Credit Card 70% Direct Debit 2%
eWallet 12% Pre-Paid 2%
Bank Transfer 6% Charge & Deferred 1%
Debit Card
Cash on Delivery 3%
PrePay 1%
Debit Card 3%
2017 POPULATION
36.7 Million
POPULAR ALTERNATIVE PAYMENT METHODS
2017 GDP
6133153
MOBILE SUBSCRIPTIONS PER CAPITA
e+19
45
72
purchases, but in 2016, 33% of ECOMMERCE PROJECTED GROWTH
Canadian smartphone users also US$69 bn
US
expected to increase their use
US$50 bn
of mobile payments. Given their US$45 bn
growing readiness for mCommerce, US$36 bn
CANADA
US$19 bn
developing mobile versions of US$9 bn
96332 488321 62
has enthusiastically embraced
eWallets and social app payments,
and continues to see healthy
growth in these areas. Alipay,
Tenpay and WeChat Pay currently
lead the market in the eWallet
space. In 2016, an estimated 19%
of all retail sales in China were
facilitated via the internet, and
this number is poised to grow as
more consumers gain access to Debit Card 4%
eWallet 62%
smartphones and the internet. Pre-Paid 3%
Credit Card 10%
Bank Transfer 8% PrePay 1%
Cash on Delivery 8%
Charge & Deferred 4%
Debit Card
2017 POPULATION
2017 GDP
56%
MOBILE SUBSCRIPTIONS PER CAPITA
1.01 97% 2% 1%
20
37
e+55
Chinese consumers are global
leaders in their use of digital
and mobile, with the number of ECOMMERCE PROJECTED GROWTH
mCommerce shoppers nearly US$1.55 tn
doubling from 2014 to 2016. Shoppers
expect to use their preferred payment US$1.03 tn
US$1.01 tn
CHINA
US$0.54 tn
Alipay and WeChat Pay. Suggest US$0.45 tn
3522131310441
for more than half of online
consumers, they are losing market
share to alternative payment
methods in the market. As of
2015, tablets accounted for over
three times as many online sales
as smartphones. This trend
may change as the number of
smartphone users is expected to
continue to grow through 2020.
Bank Transfer 35% Charge & Deferred 4%
Debit Card
Credit Card 20%
Pre-Paid 4%
Cash on Delivery 13%
Other 1%
Debit Card 13%
eWallet 10%
2017 POPULATION
49.1 Million
POPULAR ALTERNATIVE PAYMENT METHODS
2017 GDP
5925532
MOBILE SUBSCRIPTIONS PER CAPITA
43
29
d+25
Local Card Schemes 3%
More than half of online consumers
prefer to use Bank Transfer and Credit
Cards for their online purchases. As ECOMMERCE PROJECTED GROWTH
shopping via tablet is more popular US$35 bn
than via smartphone, websites
US$20 bn
should look and perform well on a US$15 bn
US$11 bn
tablet, in order to appeal to
COLOMBIA
US$8 bn
Colombian consumers. US$3 bn
2017 2021
2722519147511
Europe. While Credit and Debit
Cards remain the most popular
payment method, overall theyre
declining in popularity with Danish
consumers. Conversely, the use
of eWallets is growing. The most
popular payment app is MobilePay,
with Facebook second most
popular. As such, eWallets are
gaining traction rapidly in
this market. E-invoices 5%
eWallet 26%
Debit Card 25% Cash on Delivery 2%
Credit Card 19% Pre-Paid 1%
Bank Transfer 14% PrePay 1%
Charge & Deferred 7%
Debit Card
2017 POPULATION
2017 GDP
99%
63188
MOBILE SUBSCRIPTIONS PER CAPITA
41
22
d+15
For almost all of the payment
methods, users ranked comfort
as the number one reason for use, ECOMMERCE PROJECTED GROWTH
indicating that familiarity and ease of
US$24 bn
use are important factors for payment
method choice. Make sure that US$16 bn
US$14 bn
checkout is a seamless and US$11 bn US$10 bn
DENMARK
easy experience. US$5 bn
2017 2021
2221171913841 1
preferred payment method for
eCommerce, but alternative
payment methods are growing
in popularity. mCommerce is
expected to account for more
than a third of retail eCommerce
by 2020. Perceived security risks
alongside the lack of compelling
mobile shopping experiences are
two barriers to the continued shift
from desktop to mobile. Double Charge & Deferred 22% Cash on Delivery 8%
digit growth in French eCommerce Debit Card PrePay 4%
is expected for 2017. eWallet 21% E-invoices 1%
Credit Card 16% Pre-Paid 1%
Debit Card 15%
Bank Transfer 12%
2017 POPULATION
POPULAR ALTERNATIVE PAYMENT METHODS
67.2 Million
2017 GDP
Bank Transfer
US$2.42 tn
WHO HAVE INTERNET ALL CARD SCHEME BREAKDOWNS
60532
87%
MOBILE SUBSCRIPTIONS PER CAPITA
90% 4% 3% 2% 1%
1.06
e+47
65
95
US
US$122bn
purchases from desktops to
US$85 bn US$75 bn
mobile devices.
US$67 bn US$47 bn
FRANCE
US$18 bn
2017 2021
299251474432111
important factors for German
consumers when choosing which
payment method to use online.
54% of consumers prefer to pay
with an eWallet service and 70%
prefer to use a desktop to do
their shopping.
US$3.42 tn
WHO HAVE INTERNET Bank Transfer
621583
MOBILE SUBSCRIPTIONS PER CAPITA
1.19
70% 15% 12% 3%
e+35
52
90
often choose their payment US$123 bn
US
methods based on security and
comfort. Oer reliable, secure and US$79 bn
US$86 bn
GERMANY
US$63 bn
alleviate consumer concerns. US$16 bn
2017 2021
83 5836201274 18557321
some of the highest rates of
internet use at almost 90%.
Recent growth in internet use
can be attributed to the increase
in availability of smartphones.
Despite this, eCommerce has
yet to take o here, with many
consumers preferring to buy
their goods at physical stores.
Shoppers are suspicious of
fake products, so security and Pre-Paid 3%
Credit Card 55%
reputation are important. Credit PrePay 2%
eWallet 21%
Cards and eWallets are the most Charge & Deferred 1%
Bank Transfer 8%
used payment methods when Debit Card
Cash on Delivery 7%
consumers shop online.
Debit Card 3%
7.4 Million
Bank Transfer
2017 GDP
90%
MOBILE SUBSCRIPTIONS PER CAPITA 32% 29% 16% 12% 7% 4%
2.34
37
15
d+18
Visa 16% Local Card Schemes 4%
Online shoppers here tend to be
suspicious of counterfeit goods, so
having recognisable and legitimate ECOMMERCE PROJECTED GROWTH
brands, and developing a trustworthy
reputation is of keen importance. US$22 bn
US$15 bn US$13 bn
US$9 bn
HONG KONG
US$8 bn
US$7 bn
2017 2021
2732419129331
in India is proving to be a strong
force pushing the use of digital
payments. In addition to this, digital
solutions for the unbanked are
enabling eCommerce where this
previously wasnt possible. Use of
apps connected to Indias Unied
Payments Interface is growing at
an impressive rate since it began in
2016 and is providing competition
for the vast eWallet market which is Charge & Deferred 3%
eWallet 26%
currently led by Snapdeal, MobiKwik Debit Card
Bank Transfer 24%
and Paytm. Pre-Paid 3%
Cash on Delivery 19%
PrePay 3%
Credit Card 12%
Other 1%
Debit Card 9%
2017 POPULATION
POPULAR ALTERNATIVE PAYMENT METHODS
1.3 Billion
2017 GDP Bank Transfer
US$2.45 tn
ALL CARD SCHEME BREAKDOWNS
6128123
WHO HAVE INTERNET
37%
MOBILE SUBSCRIPTIONS PER CAPITA
55% 29% 12% 4%
0.80
e+50
60
97
consumers as possible.
US$56 bn
US$49 bn
US$44 bn
US$28 bn
INDIA
US$16 bn
2017 2021
2732420139331
to foreign investment, which should
lead to strong expansion in coming
years. Bank Transfer is the most
popular payment method for online
shopping. Nearly half of online
banking users used online banking
mainly for eCommerce purposes.
Among eWallets, Indomog and
KasPay are notable leaders, having
experienced signicant growth over
the last year. Charge & Deferred 8%
Bank Transfer 28%
Debit Card
eWallet 18%
Pre-Paid 3%
Credit Card 16%
PrePay 2%
Cash on Delivery 13%
Other 1%
Debit Card 11%
2017 POPULATION
2017 GDP
27%
603282
MOBILE SUBSCRIPTIONS PER CAPITA
e+35
24
62
a particular online retailer above
having competitive prices or oering US$24 bn
good service. Suggest they oer a US$15 bn
range of quick and easy payment US$11 bn
US$9 bn
INDONESIA
US$6 bn
options to their customers. US$5 bn
2017 2021
3129996542
payment methods for shopping
online, but Credit Cards are
expected to decline. mCommerce
grew from 12% to 17% of total
eCommerce sales in 2016, with a
quarter of these being
cross-border imports. Overall
internet penetration has increased
by 14% over the last ve years, and
theres still room for it to improve
further, revealing more opportunity Debit Card 5%
Credit Card 31%
for growth as Italians gain access Charge & Deferred 4%
eWallet 31%
to eCommerce. Debit Card
Bank Transfer 10%
PrePay 2%
Pre-Paid 10%
Cash on Delivery 7%
2017 POPULATION
POPULAR ALTERNATIVE PAYMENT METHODS
60.9 Million
2017 GDP
Cash On Delivery Bank Transfer
US$1.81 tn
WHO HAVE INTERNET ALL CARD SCHEME BREAKDOWNS
6230142
70%
MOBILE SUBSCRIPTIONS PER CAPITA
51% 25% 23% 1%
1.37
44
30
d+19
Nearly half of online shoppers were
between ages 35 and 54 years old,
showing that eCommerce isnt just ECOMMERCE PROJECTED GROWTH
for the young. Consumers preference US$42 bn
to have goods on the same day is
US$27 bn
one of the largest barriers to using US$25 bn US$15 bn
eCommerce, so oer expedited US$19 bn
ITALY
US$6 bn
shipping to avoid this deterrent.
2017 2021
26215108711
has the second highest internet
penetration rate, so growth in
eCommerce will be driven by
innovation and improved services
rather than new users of the
internet. Low smartphone use
amongst the older population
is restricting mCommerce from
growing more quickly than the 29%
growth rate it experienced in 2016.
Credit Card 56% Debit Card 1%
PostPay 19% Pre-Paid 1%
Bank Transfer 13% PrePay 1%
Cash on Delivery 7%
eWallet 2%
2017 POPULATION
2017 GDP
613521104
MOBILE SUBSCRIPTIONS PER CAPITA
e+28
55
91
US$183 bn
US
popular. More than half of consumers
have cancelled or would cancel their US$138 bn US$127 bn
JAPAN
US$56 bn
method was not available, so oering US$35 bn
a wide range of options 2017 2021
is recommended.
eCommerce turnover Desktop Mobile
2017 GDP
1.51
35
16
d+13
TOP TIP ECOMMERCE PROJECTED GROWTH
MALAYSIA
US$2 bn
US$1 bn
local Bank Transfer to appeal to more
consumers is highly recommended. 2017 2021
1 30141221488
a lot of room for growth in this
market, especially as Mexico is
the second largest economy in
Latin America. PayPal, Debit and
Credit Cards are the top payment
methods for online consumers, but
Credit Cards are on the decline.
For mCommerce purchases, PayPal
and Debit Cards again led the
way. In 2015, the number of online
shoppers more than doubled, Cash on Delivery 8%
Credit Card 30%
showing consumers have an eWallet 8%
Debit Card 23%
increasing appetite for eCommerce. Pre-Paid 1%
Charge & Deferred 15%
Debit Card PrePay 1%
Bank Transfer 14%
2017 POPULATION
2017 GDP
Bank Transfer
US$987 bn
WHO HAVE INTERNET ALL CARD SCHEME BREAKDOWNS
622753
68%
MOBILE SUBSCRIPTIONS PER CAPITA
57% 32% 7% 4%
0.89
43
21
d+25
Security is still a major concern
for most online shoppers, making
them hesitant to store card details ECOMMERCE PROJECTED GROWTH
with online retailers. Focus on data US$39 bn
security and keep websites simple
and easy to use to appeal to those US$21 bn
US$21 bn
US$18 bn
consumers unfamiliar with US$13 bn
MEXICO
US$8 bn
shopping online.
2017 2021
76552 2154421 63
eCommerce market. mCommerce
grew to nearly 20% in 2017, with
purchases made on smartphones
growing more quickly than those
made on tablets. From 2015 to
2016, eCommerce grew to more
than 11% of total retail sales.
Already quite high, internet
penetration remained stable at
94% of the population, so it is
unlikely that eCommerce will grow Debit Card 3%
Bank Transfer 63%
through increased access to the Pre-Paid 3%
Credit Card 10%
internet alone. PrePay 1%
eWallet 7%
Cash on Delivery 6% Charge & Deferred 1%
Debit Card
E-invoices 6%
2017 POPULATION
POPULAR ALTERNATIVE PAYMENT METHODS
17.1 Million
2017 GDP
Bank Transfer
US$763 bn
WHO HAVE INTERNET ALL CARD SCHEME BREAKDOWNS
94%
MOBILE SUBSCRIPTIONS PER CAPITA
94% 5% 1%
1.25
47
29
d+14
Paycoinq is a new eWallet built by
Dutch banks which is poised to
capitalise on consumers preferred ECOMMERCE PROJECTED GROWTH
payments. Oer bank-based payment US$42 bn
US
options alongside iDEAL and Credit
Cards to satisfy the maximum US$28 bn
US$25 bn
number of consumers. US$14 bn
NETHERLANDS
US$20 bn
US$5 bn
2017 2021
352321715431
of adults have made purchases
online, with travel being the most
popular area. Platforms tend to
be the sales method of choice,
with Alibaba and Amazon both
having signicant presence.
Online services are also growing in
popularity as consumers become
increasingly comfortable using
the internet for everyday activities
like booking a hair appointment. Cash on Delivery 3%
Credit Card 35%
Consumers are comfortable with Pre-Paid 2%
eWallet 23%
various payment methods, but PrePay 1%
Bank Transfer 17%
Credit Cards and eWallet are the
Debit Card 15%
two most prominent.
Charge & Deferred 4%
Debit Card
2017 POPULATION
2017 GDP
ALL CARD SCHEME BREAKDOWNS
US$198 bn
622572
WHO HAVE INTERNET
1.27
Local Card Schemes 55% Mastercard 12%
Visa 31% American Express 2%
45
d+22
TOP TIP
ECOMMERCE PROJECTED GROWTH
With 90% of New Zealanders owning US$6 bn
at least one smartphone, its vital
US$4 bn
to have a website that has been US$3 bn
US$3 bn US$3 bn
developed with mobile shoppers in
268241687421
stronger foothold than traditional
eCommerce. Here, eCommerce
skipped over the desktop and went
straight to the mobile, as has been
seen in other developing markets.
2017 GDP
0.94
64188
59% 22% 19%
40
6
d+22
Cash on Delivery is the leading
payment method for online
consumers, with 78% of shoppers ECOMMERCE PROJECTED GROWTH
preferring to pay upon delivery. Invest
US$3 bn
in a trusted Cash on Delivery partner
and mCommerce payment providers US$2 bn US$2 bn
to maximise online customer base.
NIGERIA
US$1 bn
US$1 bn US$1 bn
2017 2021
25201596313531
who access the Internet via a
mobile phone or smartphone. 69%
of mCommerce shoppers made
purchases at least monthly. Debit
and Credit Cards were the most
popular payment methods at the
end of 2015, but eWallets grew
substantially that year, from 1%
to 16%.
5.3 Million
POPULAR ALTERNATIVE PAYMENT METHODS
2017 GDP
64201032
MOBILE SUBSCRIPTIONS PER CAPITA
1.09
71% 15% 10% 2% 1% 1%
40
22
d+13
Visa 10% Local Card Schemes 1%
Norwegian shoppers cite speed and
convenience as their main reasons
for mCommerce purchases. As such, ECOMMERCE PROJECTED GROWTH
oer mobile-optimised versions
US$17 bn
of eCommerce websites to make
shopping on the move as frictionless US$11 bn US$10 bn
as possible.
NORWAY
US$7 bn US$7 bn
US$4 bn
2017 2021
267161414117221
of choice for online consumers.
One deterrent for card use is that
compared to the global average,
Filipino internet users are highly
suspicious of sharing their card
details online. Furthermore, an
underdeveloped infrastructure
for delivery is currently making it
dicult for merchants to deliver
a good end-to-end eCommerce
consumer experience. Charge & Deferred 7%
Cash on Delivery 26%
Debit Card
Credit Card 16%
Pre-Paid 7%
Bank Transfer 14%
Other 2%
eWallet 14%
PrePay 2%
Debit Card 11%
PostPay 1%
2017 POPULATION
2017 GDP
6138231451
46%
MOBILE SUBSCRIPTIONS PER CAPITA
33
10
d+16
Banet Inc 19% JCB 1%
With a low but growing population of Megalink 19%
smartphone owners, mobile shopping
and checkout experiences should ECOMMERCE PROJECTED GROWTH
be optimised to be on the forefront
of mobile commerce development. US$5 bn
Oer Cash on Delivery payment
US$3 bn US$3 bn
options to reach customers who
PHILIPPINES
US$2 bn
US$2 bn
may not have the full range of US$1 bn
1381 13
1
6
46
5
eCommerce market, though
it is still classed as emerging.
Internet penetration has grown by
more than 10% over the last ve
years, during which time over 11%
were gained by online shopper
penetration. Bank Transfer is
the most prominent payment
method for online shoppers, with
Fast Transfer Services like PayU,
Prezelewy24 and Dotpay used by Charge & Deferred 6%
Bank Transfer 46%
almost half of online consumers. Debit Card
Debit Card 15%
Traditional Bank Transfers are Pre-Paid 1%
eWallet 15%
used by a further 35%. Growth PrePay 1%
Cash on Delivery 9%
in eCommerce has been largely
Credit Card 7%
fuelled by younger consumers who
have the highest internet use.
2017 POPULATION
Bank Transfer
37.9 Million
2017 GDP ALL CARD SCHEME BREAKDOWNS
65273
US$483 bn
WHO HAVE INTERNET
1.47
Visa 57% Local Card Schemes 3%
Mastercard 40%
35
22
d+10
TOP TIP ECOMMERCE PROJECTED GROWTH
POLAND
sure to oer this option on their US$4 bn
US$1 bn
checkout pages. Expensive or delayed 2017 2021
deliveries are most often cited as
reasons for discontent with an online
eCommerce turnover Desktop Mobile
purchase. To build customer trust,
take care to outperform in this area.
16108 2
8
1
42
7
as the most preferred payment
method for online purchases. Nearly
half of online shoppers made at least
one online purchase per month.
Yandex.Money, Webmoney and Qiwi
are the top three digital payments
services in the market, though cards
now lead the way overall.
US$1.56 tn
WHO HAVE INTERNET Bank Transfer
80%
ALL CARD SCHEME BREAKDOWNS
65275
MOBILE SUBSCRIPTIONS PER CAPITA
1.67
60% 34% 6%
47
27
d+18
mCommerce is one of the growth
drivers for eCommerce in Russia,
as more and more consumers ECOMMERCE PROJECTED GROWTH
gain access to the internet via US$34 bn
US
smartphones. Oer a seamless
US$22 bn
mobile checkout experience and US$25 bn
US$19 bn US$12 bn
the ability to pay by Credit Card
RUSSIA
for this growing segment. US$6 bn
2017 2021
11964211 66
South-East Asia, despite a
relatively small population. While
growth should remain strong, its
pace is set to slow, as 73% of adult
internet users already shop online.
Credit Cards are overwhelmingly
the payment method of choice,
though eWallets are growing.
Cross-border shopping is very
popular, with more than half
of online consumers buying Charge & Deferred 2%
Credit Card 66%
from international merchants. Debit Card
eWallet 11%
mCommerce is becoming Pre-Paid 1%
Bank Transfer 9%
increasingly important with more PrePay 1%
Debit Card 6%
than a third of online consumers
Cash on Delivery 4%
preferring to shop on their
mobile device.
2017 POPULATION
Bank Transfer
5.7 Million
2017 GDP ALL CARD SCHEME BREAKDOWNS
64402272
US$292 bn
WHO HAVE INTERNET
1.45
NETS 37% American Express 8%
Visa 31% Diners Club 1%
30
14
d+19
TOP TIP Mastercard 23%
SINGAPORE
in-store. Consider adding a loyalty US$2 bn
programme to entice repeat custom. 2017 2021
2918181310843
payment methods here are the
more traditional Debit and Credit
Cards, and Direct Debit. Nearly
half of online consumers say they
would be encouraged to buy more
if they could trust their payment
method. They also noted that
cheaper or free delivery would
encourage more online purchases
as well.
Credit Card 28% PrePay 8%
Bank Transfer 17% Pre-Paid 4%
eWallet 17% Charge & Deferred 3%
Debit Card
Debit Card 13%
Cash on Delivery 10%
2017 POPULATION
65321
MOBILE SUBSCRIPTIONS PER CAPITA
30
7
d+16
Despite the fact that cards are the
most preferred payment method,
online shoppers stated that they ECOMMERCE PROJECTED GROWTH
would be motivated to shop
more by the availability of an On
US$3 bn
Delivery payment method. Whether
US$2 bn US$2 bn
consumers use it or not, having this
SOUTH AFRICA
US$1 bn US$1 bn
option available may increase sales. US$1 bn
2017 2021
55201396421
advanced IT infrastructure means
that nearly all households are
connected to the internet, and
most adults have a smartphone.
More than half of internet users
shop online. Smartphones are
increasingly becoming the device
of choice for eCommerce, with
more than half of online retail sales
taking place on a mobile device.
Double digit growth in eCommerce Cash on Delivery 5%
Credit Card 63%
is expected to continue over the Bank Transfer 4%
eWallet 10%
next ve years. Pre-Paid 3%
Debit Card 6%
Other 6% PrePay 3%
2017 POPULATION
POPULAR ALTERNATIVE PAYMENT METHODS
51.5 Million
2017 GDP
Domestic Cards Bank Transfer
US$1.50 tn
WHO HAVE INTERNET ALL CARD SCHEME BREAKDOWNS
623920952
92%
MOBILE SUBSCRIPTIONS PER CAPITA
34% 31% 21% 7% 4% 3%
1.23
e+60
30
81
comfortable shopping on their mobile US$81 bn
US
SOUTH KOREA
US$25 bn US$21 bn
US$16 bn
2017 2021
252018169831
doubled from 2015 to 2016, and
now half of all online shoppers are
also mobile shoppers. Internet
penetration has grown steadily
over the last ve years, bringing
the potential for eCommerce to
more and more Spaniards each
year. In 2016 travel and holiday
accommodation was purchased
the most online. Debit Cards
are the most popular Cash on Delivery 8%
eWallet 25%
payment method. Pre-Paid 3%
Debit Card 20%
Credit Card 18% PrePay 1%
Bank Transfer 16%
Charge & Deferred 9%
Debit Card
2017 POPULATION
2017 GDP
Bank Transfer
US$1.23 tn
WHO HAVE INTERNET ALL CARD SCHEME BREAKDOWNS
65203
84%
MOBILE SUBSCRIPTIONS PER CAPITA
35
20
d+15
Two thirds of online consumers
consider a delivery time of up to ve
days to be acceptable, with home ECOMMERCE PROJECTED GROWTH
as the preferred delivery location.
Almost a quarter of online consumers US$29 bn
researched products online but US$23 bn US$17 bn
ultimately completed the purchase US$15 bn US$12 bn
SPAIN
US$8 bn
in-store, showing the importance of
an omni-channel oering to capture 2017 2021
the maximum sales.
eCommerce turnover Desktop Mobile
30211214117211
and online shopper penetration.
In a market with high use of online
banking, consumers deeply trust
their banks. Therefore payment
methods connected to online
banking are likely to fare well with
Swedish consumers. The growing
popularity of Swish demonstrates
consumers openness to new digital
payment methods. Further, nearly
30% of consumers used multiple eWallet 7%
Debit Card 30%
channels when making their last Other 2%
Bank Transfer 21%
purchase, resulting in a signicantly Cash on Delivery 1%
Charge & Deferred 14%
higher spend than shoppers who Debit Card Pre-Paid 1%
used only one channel. E-invoices 12% PrePay 1%
Credit Card 11%
10 Million
Bank Transfer
2017 GDP
2642421
WHO HAVE INTERNET
90%
58% 39% 2% 1%
MOBILE SUBSCRIPTIONS PER CAPITA
1.34
47
30
d+15
The ability to select from multiple
ECOMMERCE PROJECTED GROWTH
payment methods is important to
US$18 bn
US
78% of online shoppers. In this
market lled with savvy consumers, US$12 bn US$11 bn
oer customers a wide range of US$8 bn US$7 bn
SWEDEN
payment options at checkout, US$4 bn
especially those linked to online 2017 2021
banking and E-invoicing.
eCommerce turnover Desktop Mobile
13 4111111642
so via a mobile phone. In 2016, 40%
of eCommerce purchases were
completed on a mobile device.
Mobile payments are growing,
with mobile payment penetration
among smartphone users nearly
quadrupling to 19% from 2014 to
2015, and nearly a third of users
reporting that they had used their
mobile device to purchase a good
or service. Popular payment methods Debit Card 5%
Credit Card 41%
include Credit Cards, Bank Transfer Pre-Paid 3%
Bank Transfer 16%
and Cash on Delivery. Taiwan has Charge & Deferred 2%
Cash on Delivery 13%
proved an excellent test ground Debit Card
eWallet 13%
for innovation with new trends in
PostPay 7%
eCommerce, such as having live
broadcast promotions on social
media and using big data to make
the most of multichannel strategies. POPULAR ALTERNATIVE PAYMENT METHODS
Bank Transfer
2017 POPULATION
ALL CARD SCHEME BREAKDOWNS
23.6 Million
63351542
2017 GDP
87%
MOBILE SUBSCRIPTIONS PER CAPITA
1.27 Visa
Local Card Schemes
45%
31%
JCB
American Express
4%
1%
44
20
d+26
Mastercard 19%
US$34 bn
TAIWAN
US$10 bn
In this advanced eCommerce market,
oer a full range of payment options 2017 2021
like 7-11 Ibon and Alipay with mobile
and social optimised experiences. eCommerce turnover Desktop Mobile
2522201277331
infrastructure projects that
should improve the development
of eCommerce. With only 8%
of internet users currently
participating in eCommerce, there
is substantial room for growth.
Consumers prefer to pay using
Bank Transfer.
69.1 Million
POPULAR ALTERNATIVE PAYMENT METHODS
2017 GDP
US$433 bn
Bank Transfer
WHO HAVE INTERNET
641551
MOBILE SUBSCRIPTIONS PER CAPITA
1.69
71% 21% 7% 1%
56
25
e+38
Social commerce is an emerging
trend, with 51% of online shoppers
making a purchase via social media ECOMMERCE PROJECTED GROWTH
channels. Consider using social US$51 bn
US
media to reach new consumers who
US$32 bn
are more likely to shop online.
US$27 bn US$19 bn
THAILAND
US$14 bn
US$13 bn
2017 2021
76331 80
online purchases. Turkey has
the highest mobile payment
penetration in Europe, showing
that they are very comfortable
adopting innovations in the
payments space. While growth
in eCommerce has been strong
over the past several years, overall
eCommerce is still less than 10%
of the countrys retail sales, leaving
signicant room to grow. Bank Transfer 3%
Credit Card 80%
eWallet 7% Cash on Delivery 3%
Debit Card 6% Pre-Paid 1%
2017 POPULATION
POPULAR ALTERNATIVE PAYMENT METHODS
80.8 Million
2017 GDP Bank Transfer
US$794 bn
ALL CARD SCHEME BREAKDOWNS
65261
WHO HAVE INTERNET
58%
MOBILE SUBSCRIPTIONS PER CAPITA 54% 44% 1% 1%
0.99
38
25
d+13
mCommerce is extremely popular ECOMMERCE PROJECTED GROWTH
here with 65% of online shoppers
using a mobile device for their US$17 bn
TURKEY
optimised and ideally also oer an US$2 bn
option for instalment payments. 2017 2021
25211910105432
consumers are wary of the risks
associated with shopping online,
and as such, the majority prefer
to pay on delivery. Millennials
are more comfortable using their
Credit and Debit Cards for online
payments, especially for travel,
leisure, electronics and clothing.
US$407 bn
WHO HAVE INTERNET
Cash On Delivery Bank Transfer
97%
ALL CARD SCHEME BREAKDOWNS
652521
MOBILE SUBSCRIPTIONS PER CAPITA
2.14
62% 35% 2% 1%
37
11
d+20
Given online shoppers concern
over security and fraud, ensure
that website payment systems are ECOMMERCE PROJECTED GROWTH
protected from fraud and emphasise
this focus to consumers. US$11 bn
US$7 bn
US$7 bn
UAE
US$4 bn US$4 bn
US$3 bn
2017 2021
329251755331
increasingly comfortable making
purchases online and via
smartphones and tablets. As a
percentage of total card spend,
online is growing as consumers
become increasingly condent in
the security of online payments.
Debit Card is the most preferred
payment method, with Credit
Cards following closely behind.
Debit Card 32% Charge & Deferred 5%
Debit Card
eWallet 25%
Pre-Paid 3%
Credit Card 17%
PrePay 3%
Cash on Delivery 9%
E-invoices 1%
Bank Transfer 5%
2017 POPULATION
2017 GDP
65123
MOBILE SUBSCRIPTIONS PER CAPITA
e+40
58
95
forecast to surpass tablets within the
same timeframe. Invest in developing US$185 bn US$174 bn
US$137 bn
apps to build a seamless shopping US$94 bn
UK
US$48 bn
and checkout experience for
these consumers. 2017 2021
29231611883311
prefer to use Credit Cards for
their online shopping payments.
Concerns over security remain
a major issue, with nearly a third
of households avoiding online
purchases due to concerns over
data security. eWallets such as
Apple Pay, Samsung Pay and
Android Pay are growing in
popularity as acceptance grows
and familiarity increases. Cash on Delivery 8%
Credit Card 26%
eWallet 23% Pre-Paid 3%
Debit Card 16% PrePay 3%
Charge & Deferred 11% Other 1%
Debit Card PostPay 1%
2017 POPULATION Bank Transfer 8%
2017 GDP
63251242
MOBILE SUBSCRIPTIONS PER CAPITA
e+25
57
95
consumers saying that the payment
experience aects their willingness US$0.74 tn US$0.76 tn
US
checkout experience must be as US$0.17 tn
frictionless as possible to capture 2017 2021
consumer attention and minimise the
risk of shopping cart abandonment. eCommerce turnover Desktop Mobile
22201816133 83
a positive trend of increasing
internet penetration driven by
a large youthful population and
low service costs, an overall lack
of trust in eCommerce prevents
the market from achieving its full
potential. Other factors that stand
in the way include challenging
delivery logistics and the fact that
the larger economy is highly cash
based. To help boost growth, the Debit Card 8%
Bank Transfer 21%
government is putting in place Pre-Paid 3%
Cash on Delivery 18%
eorts to develop the sector. PrePay 3%
Credit Card 17%
Credit Card, Bank Transfer and
eWallet 16%
Cash on Delivery are the three
Charge & Deferred 14%
most popular payment methods Debit Card
for eCommerce. With the number
of smartphone users expected
to double from 2015 to 2020, POPULAR ALTERNATIVE PAYMENT METHODS
6663
93.7 Million
2017 GDP
91% 5% 4%
US$216 bn
WHO HAVE INTERNET
62%
Local Card Schemes 91% Mastercard 4%
MOBILE SUBSCRIPTIONS PER CAPITA
Visa 5%
47
26
d+32
1.27
ECOMMERCE PROJECTED GROWTH
US$15 bn
US
VIETNAM
US$3 bn
recommended to accept multiple 2017 2021
payment methods to maximise the
number of consumers who can
eCommerce turnover Desktop Mobile
complete their checkout. An extra
focus on conveying security and
trustworthiness should appeal to
cautious potential online shoppers.
22% 2017-2021 eCommerce CAGR
Payment method definitions
In this section you will nd an explanation of each payment method outlined in this report.
Bank Transfers Debit Cards Direct Debits eWallets PrePay Pre-Paid Cards
Cash on Delivery Credit Cards E-invoices PostPay Others Charge & Deferred
Alternative Payments methods are all those payments that are not cards running on global scheme
networks such as Visa, Mastercard or American Express.
online banking facility at their leisure and use 2017 Percentage of total eCommerce market
2017
the reference to complete the transaction. $202 bn/7.4%
2017 $40 bn/1.5%
Authorisation is not immediate. 2021 forecast $1,076 bn/39.2%
$301 bn/7.2% 2021 forecast
Examples: Dineromail, SafetyPay 2021 forecast $29 bn/0.7%
$1,916 bn/45.9%
Total turnover value in US$/
Percentage of total eCommerce market
cardholders account. If the available funds are for example). [2] http://www.nathanlustig.com/2017/06/11/opportunities-challenges-business-argentina/
insucient, the transaction is not completed [3] We Are Social; January 2017, cited in Statista
Credit Card balances are usually rolling,
[4] Worldpay data Global Payments Report 2017
(except where an overdraft facility is in place). whereby part of the balance needs to be paid [5] World Bank Global Financial Development, updated June 2017
Also called an asset card (in the US), or (with interest and/or charges) on a 30-day basis, [6] https://www.forbes.com/sites/forbesnancecouncil/2017/04/05/argentina-is-hot-again-the-impact-on-cross-border-
payment card (in the UK). until the full balance is paid. commerce/#372ea06232fd
[7] https://www.pwc.de/en/internationalisierung/argentina-and-brazil-a-comparison-of-south-americas-two-largest-economies.html
Total turnover value in US$/ Total turnover value in US$/ [8] https://thenextweb.com/media/2013/09/24/spotify-quietly-launches-in-taiwan-its-fourth-country-in-asia/#.tnw_rtO6Hjyj http://www.
Percentage of total eCommerce market Percentage of total eCommerce market lanacion.com.ar/2045232-nespresso-presento-en-la-argentina-su-cafetera-conectada-expert-milk;
[9] http://buenosairesherald.com/article/194618/argentina-leads-middleclass-ranking
2017 2017
[10] Worldpay data Global Payments Report 2017
$270 bn/9.8% $532 bn/19.3%
[11] Samsung Pay, Apple Pay, Android Pay etc.
2021 forecast 2021 forecast [12] https://www.economist.com/news/special-report/21724749-adventure-travel-dating-websites-older-consumers-display-
$342 bn/8.2% $574 bn/13.7% resolutely-young
[13] http://www.nielsen.com/content/dam/nielsenglobal/hk/docs/hksyndicated/Making_Bricks_Click_D2.pdf
[14] http://www.colliers.com/-/media/les/emea/sweden/research/worldshoppermapic2016.pdf
[15] https://www.swissinfo.ch/eng/business/spending-habits_silver-surfers-embrace-online-shopping/41479054
[16] http://www.netimperative.com/2017/01/european-shopping-trends-2017-50s-spend-71-per-visit-youngsters/
Charge & Deferred Debit Cards Others
[17] TBC
A pay-later card that charges no interest These include mobile carrier billing, [18] TNS Infratest, Google, Statista 2017
but requires the card holder to pay the crypto-currencies and other [19] https://www.ofcom.org.uk/about-ofcom/latest/media/media-releases/2017/rise-social-seniors
outstanding balance in full upon receipt of the emerging technologies. [20] 2017 Global Payments Report
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