Payment preferences of residents of different countries of the world

[Carding Forum]

More than half of buyers refuse to buy goods on the Internet because they cannot find a suitable payment method. This trend once again confirms the need to support various payment methods, as well as take into account the payment preferences of residents of different countries.

United States
In the US, shoppers mostly use credit cards, although e-wallets are also popular. Among virtual wallet users, 79% prefer PayPal and 40% prefer Google Wallet.

Europe
In Europe, the market for payment instruments is more diverse. In addition to e-wallets and credit cards, Europeans often use online banking to make payments.
Most of the payment methods in the region are pan-European, however there are payment options specific to each country.

Local European payments
Almost half of all online transactions in the UK are paid by credit card. Debit cards account for about 35% of all e-commerce payments. PayPal is the third most popular online payment method.

Despite the fact that alternative payment methods are not yet widespread in Britain, the country is already preparing to launch the Zapp electronic transactions ecosystem. This payment method works on mobiles and allows you to send funds in real time.

In France, 85% of online payments are made using the cards of the national payment system Carte Bleue. The platform recently introduced an authentication system using voice commands, thus securing online commerce. In addition, PayPal e-wallets are common in the country.

In the Netherlands, users most often use the iDEAL system, which is connected to online banking and allows you to confirm a payment in an online store using a simple form.
In Finland and Sweden, real-time banking accounts for 35% of the market. 10 Finnish and 4 Swedish banks offer the option of instant payments.
The Klarna payment application is quite popular in northern Europe. This system is used by 15 thousand online stores in Sweden, Norway, Finland, Denmark, Germany, the Netherlands and Austria.

Common European Payment Methods

SEPA (Single Euro Payments Area) is a payment integration project in the European Union. The aim of the initiative is to simplify bank transfers in euros. 33 European countries are participating in the project.
The urgent payment platform SOFORT offers currency conversion and is used in 10 European countries (Germany, Austria, Switzerland, Great Britain, Italy, Spain, Poland, Hungary, Slovakia and the Czech Republic). This method does not require registration or registration of an electronic wallet, since it uses the client's online banking account.

Japan
Many Japanese people do not trust electronic payments and prefer to pay online orders in cash at payment terminals located in small Konbinis stores. This payment method is the second most popular after credit cards.

China
The country is dominated by the electronic payment system Alipay, which is part of the country's largest online store, Alibaba. With the help of a virtual wallet in this system, you can pay not only an online order, but also parking, fines and even utilities.
Also in China, shipping with cash on delivery and UnionPay credit cards are popular.

Russia
The most common payment method in the Russian Federation is the Qiwi service with a widespread network of 24-hour self-service terminals. They are located in shopping malls and on the streets and are similar to ATM machines.
Also in Russia, the Yandex system is often used. The company offers online stores a universal payment solution for accepting online payments, including bank cards, credit cards, Yandex. Money and WebMoney. Currently, more than 65 thousand online stores accept Yandex.Money, and 22% of Russians regularly use it to make payments.

India
Internet banking, prepaid cards and cash are the most common methods of paying for goods and services purchased online. Mobile payments are also gaining popularity in the region.

Asian-Pacific area
2/3 of the region's residents are familiar with mobile payments and actively use them to make payments.

Latin America
Residents of Mexico, Peru, Argentina and Colombia are most likely to choose local payment platforms for security reasons. Brazilians prefer to buy in installments due to low credit card limits.

Africa
In Africa, mobile payments have proven to be more popular than banking. There are already more mobile payment users in the region than bank account holders.
The most popular is the M-PESA service, which allows not only paying for an online order, but also making a deposit, as well as withdrawing and transferring money using a mobile device.

Many merchants who accept orders from around the world use flexible payment platforms that allow them to accept different payment instruments depending on the region of the buyer.