In the midst of a revolution in payment methods, 73% of users still prefer the card

At the same time that online commerce in our country is growing, with 24.7 million buyers according to the latest study on Ecommerce by iab Spain and 18,900 million euros billed in the third quarter of 2022 according to the CNMC, the consumer profile is also more demanding. They are not just looking for a product or service, they are looking for excellent digital experiences, a demand that goes through the personalization of offers, relevant content and a customer journey that is simple, comfortable and fast. On this last point, the payment process is decisive: any friction at that moment generates distrust, since security has become a fundamental aspect for the final conversion to take place, and it means cart abandonment.

Inside of the customer journey, the payment process has its own universe because there is more and more diversity and the buyer hopes to find that favorite payment method that facilitates the purchase, from the most traditional ones such as the credit / debit card, to more innovative ones such as the buy now and pay later (BNPL) or Bizum. During the month of May, PAYCOMETpayment gateway for ecommerce, has carried out a survey of electronic commerce professionals with the aim of identifying the most popular payment methods among ecommerce and its consumers.

Data to highlight

  • The most integrated methods. Spanish e-commerce stores are incorporating more and more payment methods, however, the card continues to reign supreme, since 93.44% of online businesses offer this system. The TOP 3 is completed by Bizum, increasingly present with 50.82% and, surprisingly, transfers, with 47.54%.
  • Google Pay and Apple Pay do not impact yet. Towards the bottom of the list would be Google Pay and Apple Pay, with an impact of 13.11% and 11.48% respectively, integration figures still low that respond to the fact that, as happens with other new payment methods, e-commerce wait for the adoption curve to increase and the volume of users to grow. However, the survey also indicates that 37.50% of e-commerce are already thinking of introducing Apple Pay and 35%, Google Pay, so the route they will have in the coming years remains to be seen.
  • The most used by buyers. Among the most used payment methods in the surveyed e-commerce, the card is the indisputable favorite with 73.3%. In addition, it leaves behind the one that occupies the second position, the transfers, with 6.67%, a method that could have greater depth among more senior generations such as that of the baby boomers. Options such as PayPal, with a use of 4.44% or other alternatives such as deferred payment methods are also at the top of the ranking.
  • User experience and security. In the order of importance when choosing one payment method or another, user experience and security are two key factors. In their experiences, buyers look for seamless and easy processes. Therefore, it is necessary that the methods are agile and allow the payment to be completed in a few steps. On the other hand, security is essential to build trust and online businesses must have at their disposal tools that help prevent, identify and manage possible fraud or criminal activities.
Read Also:  UFC 304: Date, Fight Card, and Latest News on Edwards vs Muhammad

PAYCOMET, as a payment gateway, allows online businesses to integrate their consumers’ favorite payment methods with the maximum guarantee of simplicity and security. A platform that has a team of developers with more than 10 years of experience in the field of innovation, and designed by payment experts who seek to provide secure and frictionless experiences.

Recent Articles

Related News

Leave A Reply

Please enter your comment!
Please enter your name here