Worldwide Alternative Online Payment Methods Industry (2019 to 2024) - Security Concerns Guide the Choice of Payment Methods Amid COVID-19

 | Source: Research and Markets Research and Markets

Dublin, June 02, 2020 (GLOBE NEWSWIRE) -- The "Global Alternative Online Payment Methods 2020 and COVID-19's Impact" report has been added to ResearchAndMarkets.com's offering.

According to a recent survey cited in the report, one-fifth of digital buyers worldwide would not complete an online purchase if their preferred payment method is not offered. While credit and debit cards are the top choices of e-consumers in the USA, Brazil, France, Japan, South Africa, and many other countries, alternative payment means are gaining importance. Among them, E-Wallets such as PayPal and Alipay are the top methods used, already leading in various E-Commerce markets worldwide. Other popular alternatives to credit cards used by online shoppers are bank transfer, cash on delivery, and invoice.

Security concerns guide the choice of payment methods amid COVID-19

Amid the coronavirus outbreak, the payment choices of digital buyers continue to vary by country and region. While the overall preference ranking still holds, there is also a significant share of online buyers which are using payment methods they have never used before. For example, nearly one in five digital buyers in Italy paid by a prepaid card online for the first time, and one-tenth of Canada's online shoppers started using a digital wallet. The main factor considered by consumers when choosing a payment method during the pandemic is it security and protection against fraud loss.

Report Coverage

  • This report covers the global online payment market with a focus on alternative payment methods. Alternative online payment methods generally refer to payment methods other than credit card or bank card payments. Online payment methods are defined as methods used by online shoppers to make purchases online via any device.
  • In addition, information related to the impact of the coronavirus (COVID-19) on digital payments worldwide was included in this report.
  • Major B2C E-Commerce markets in all global regions are covered, including advanced and emerging, while data availability varied across the countries.
  • The report includes data mostly published in the previous 12 months. The exact date of publication of the source is stated on each chart. The time period which the data refers to differs by source.

Report Structure

  • The global chapter opens the report, featuring a ranking of methods used by global online shoppers and other relevant market trends.
  • The rest of the report is divided by regions presented in the descending order of B2C E-Commerce sales. Within each region, the markets are grouped by advanced and emerging economies, where applicable, and ranked by online sales. Furthermore, where available, regional information was also included.
  • Depending on data availability, the following types of market information are included: payment methods most used in online shopping, including cards and alternative methods; attitude of online shoppers to the variety of payment methods offered; breakdown of preferences of online shoppers and of online retail sales by payment methods. Not all the mentioned types of information are available for each of the covered countries.

Key Topics Covered:

1. Management Summary

2. Global Developments

  • COVID-19 Impact on Online & Mobile Payment, May 2020
  • Payment Methods Most Used When Shopping Online During The Pandemic, in % of Online Shoppers, by Selected Countries, April 2020
  • Payment Methods Used For the First Time When Shopping Online During The Pandemic, in % of Online Shoppers, by Selected Countries, April 2020
  • Criteria for Choosing a Payment Method in Online Shopping Which Became More Important Since The Pandemic Outbreak, in % of Online Shoppers, by Selected Countries, April 2020
  • The Impact of COVID-19 on Payments Revenues, incl. Payments Revenues in 2019, Pre-COVID-19 Forecast, and Payments Revenues Forecast Under The Impact of COVID-19, in USD billion, 2020
  • Online & Mobile Payment Platform Revenues, in USD billion, 2019e & 2024f
  • Payment Methods Preferred in E-Commerce, in % of Online Shoppers, by Selected Regions, January 2019
  • Share of Online Shoppers Who Had Abandoned a Shopping Cart Due to Their Preferred Payment Method Not Being Offered, in %, January 2019
  • Share of Mobile Shoppers Who Had Abandoned a Shopping Cart Due to Their Preferred Payment Method Not Being Offered, in %, August 2019
  • Number of Digital Wallet Users, in billions, 2019e & 2024f
  • Breakdown of Digital Wallets by Provider's Main Industry, in %, 2019

3. Asia-Pacific

4. Europe

5. North America

6. Latin America

7. Middle East & Africa

Companies Mentioned

  • Afterpay Ltd
  • Alphabet Inc.
  • Amazon Payments Inc
  • Ant Financial Services Group
  • Apple Inc
  • China UnionPay Co Ltd
  • Jumia Technologies AG
  • MasterCard Inc.
  • Mercadolibre Inc.
  • Noon AD Holdings
  • PayPal Holdings Inc
  • Paypal Inc
  • Paytm Mobile Solutions Pvt. Ltd.
  • PayU S.A.
  • PS Yandex Money LLC
  • Tencent Holdings Ltd
  • Visa Inc

For more information about this report visit https://www.researchandmarkets.com/r/lm0hgz

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