yStats.com, a leading secondary market research company specialized in E-Commerce and digital payments market intelligence has released a new report titled “Global Online Payment Methods: Full Year 2017” In this publication, the Germany-based company reveals the key trends shaping the worldwide digital payments landscape and sheds light on the payment choices of consumers in six global regions.
The global online payment volume continues to grow with the rapid rise in worldwide E-Commerce sales, reveals the new report from yStats.com. Payment cards and digital wallets contribute the largest shares of this volume, with a projection that E-Wallets alone will account for close to one-half of worldwide online retail sales within the next three years, spurred by their popularity in the fastest growing E-Commerce markets including China and India. Overall, emerging markets are ahead of the advanced economies in terms of the interest in new payment technologies, with Asia being the top region for expected return on investment in FinTech.
China and the rest of Asia-Pacific ranked as the world’s leaders in mobile payment adoption in 2017, followed by Latin America, the Middle East and Africa, according to the information cited in the yStats.com report. Consumers in these regions were more willing to share their personal financial data with third-party providers in order to use their innovative services. Meanwhile, in regions with more mature E-Commerce such as Western Europe and North America, plastic still leads the payment choices of digital buyers, although PayPal and local alternative payment methods such as iDEAL are on top in some markets.
Overall, information contained in the yStats.com report points to the high variation of payment preferences of online shoppers in different countries and regions, while also highlighting that the selection of payment methods and the security of payment transactions is an important consideration globally for consumers when making purchases over the Internet.
