Europe: 40% of online purchases made via credit cards in 2010

Monday 23 May 2011 10:41 CET | News

In Europe, in 2010 credit cards have accounted for 40 percent of online purchases, a recent report has unveiled.

According to the study called “Global Online Payment Methods 2011” released by the German market research company, in the UK and France online purchases via credit cards have accounted for almost 60 percent in Q3 2010.

The study also points out that in Germany payment by invoice is the most popular payment method while credit card payments accounted for 20 percent.

In 2010, online payments revenue in Russia has grown by 75 percent, reaching USD 2.5 billion (RUB 70 billion). Online payment provider Yandex.Money has expanded its services in 2011 to other CIS countries, including Ukraine, Belarus and Kazakhstan.

According to the study, in North America the market share of credit card payments in e-commerce has recorded 40 percent, but is expected to fall down by 2015. In Latin America the credit card payment is the preferred payment method, accounting for 70 percent of all online purchases.

Credit card payments have also gained popularity in Asia, according to the report. During the period under review, revenue in Japan has reached USD 488 billion (JPY 40 trillion) and is expected to reach USD 610 (JPY 50 trillion) in 2014. In South Korea credit card payments have accounted for 70 percent in 2010, followed by money transfer. Nevertheless, in China cash payment is the most popular payment method in 2010, with a share of more than 90 percent.

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Keywords: Europe, online purchase, credit cards, Russia, Asia, North America
Categories: Payments & Commerce | Online Payments
Countries: World
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