MONEYthe fintech that simplifies and streamlines digital payments, has analyzed more than 30,000 online transactions from the Monday before Black Friday to Cyber Monday to find out how the preferences of Spanish consumers evolve.
The report reveals that, although card payments are the preferred method of payment for Spaniards, they are seeing continuously decrease its market share. Currently, represent 68.45% of paymentsa significant decrease compared to the 85% that they held at the beginning of 2021 and the 77.8% that they represented on the same dates last year.
At the same time, Bizum has surpassed 20% market share for the first time and maintains the upward trend, with significant growth compared to the previous year, when it barely reached 15%.
The method Click to Pay from Visa and Mastercardfor pay without having to include card detailsmanages to double its share and grow 125% compared to last year. Thus, it is already close to 3% market share. For its part, PayPal manages to grow compared to 2021 and maintains a relevant share of 8.15%. The digital wallets such as Google Pay and Apple Pay still have a limited weight with only 3.65% and 1.62% respectively.
Finally, when making purchases, Spanish consumers reward immediacy and simplicity and their preference for mobile phones is becoming even more notable (61.33%), having increased its market share by almost 12% compared to 2021 (49.49%). For their part, computers have seen their participation decrease by more than 1% compared to the same period last year and standing at 37.45%.
Álex Saiz, founder and CEO of MONEIhas valued the importance of knowing market trends in order to be at the forefront, “Quarter after quarter we confirm how consumers demand a more digital service and the option of being able to pay with the option they prefer. It is vital that businesses understand this data, listen to consumers to design a better strategy and offer them the best service.”.
In this new installment of its report on the state of payment methods, the data confirms that Spanish consumers have decided to bring their Christmas purchases earlier in order to take full advantage of the discounts on Black Friday and Cyber Monday. These data also reveal how the period of discounts and purchases is getting longer. Thus, according to the data analyzed, Monday, November 21, was the day of the week with the highest sales volume.