This overview was first published in ‘eCommerce Insights and Trends Snapshot: Spain’, an eBook produced in association with our partner ACI Worldwide – and based on data from ACI Worldwide. Download your free copy of the eBook below to gain access to a comprehensive analysis of the insights that matter most when measuring the size and type of opportunities in the ecommerce market in Spain.
Cards are the primary way to pay online in Spain, followed by e-wallets and bank transfers. What’s more, BNPL’s popularity has increased among younger Spanish consumers, and in recent years, several providers launched in Spain, such as Clearpay or Klarna (with their ‘Pay in 3’ solution).Bank transfers are set to grow as well, and brands like Bizum, Trustly, and MyBank are already present in this market. Bizum, a Spain-based mobile payment service that is marketed by 31 banks, has become very popular during the pandemic, and the company has announced several changes regarding the transactions made via its platform.
Merchants wanting to penetrate the Spanish market should pay attention to e-wallet transaction costs, and they should also be aware of an elevated risk of failed payments, due to the country’s strict fraud barriers.
Credit/charge cards: 30.7%
Debit cards: 20.2%
Bank transfers/A2A: 17.5%
E-wallets: 19.9%
BNPL/invoice payments: 1.8%
Cash/cheque: 5.7%
Prepaid: 2.6%
Other: 1.6%
Source: Global Data Information 2021