The Americas: credit cards still top consumer payment preferences

Thursday 22 May 2014 13:12 CET | News

Both North and South American continents have credit cards as the customers` preferred payment method in B2C ecommerce, according to the “Global Online Payment Methods: First Half 2014“report issued by the German secondary research organization

In the US, although alternative payment methods menace the leading position of debit and credit cards in both online and offline retail, the latter is still preferred by consumers.

The online retail payment market in the US grew by a small double-digit share in 2013, reaching several hundreds of EUR billion. M-commerce payments amounted to a medium-high double-digit figure in EUR billion, split almost evenly between tablets and mobile phones. In Canada, online payment by card continues to be the leading method.

In Latin America, internet users who do not have credit cards have pushed alternative payment methods ahead, but credit cards still take the lead. In Argentina, the payment method most used by over 50% online shoppers was credit card, while cash payments upon receipt, and such services as Pago Facil and Rapi Pago were notably used in 2013. In Mexico, the largest share of B2C ecommerce sales is generated through credit card payment, while the other popular method is cash-on-delivery.

However, in Brazil the percentage of the adult population with a relationship with a bank goes beyond 80%. The online and mobile payment markets in Brazil are on an ascending trend, and, as such, Boleto Bancario was the second most used payment method in Brazil, beside bank credit card.

According to data from WorldPay, online purchases made using alternative payment methods are expected to rise to 59% in 2017 from 43% in 2012, recent findings indicate.

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Keywords: Noth America, South America, credit card, online payment, ecommerce, cash-on-delivery, B2C, m-commerce
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce