The Americas: credit cards still top consumer payment preferences

Thursday, 22nd May 2014

According to this, North and South American continents have credit cards as the customers` preferred payment method in B2C ecommerce.

"The online retail payment market in the US grew by a small double-digit share in 2013, reaching several hundreds of EUR billion. M-commerce payments amounted to a medium-high double-digit figure in EUR billion, split almost evenly between tablets and mobile phones. In Canada, online payment by card continues to be the leading method."

"In Latin America, internet users who do not have credit cards have pushed alternative payment methods ahead, but credit cards still take the lead. In Argentina, the payment method most used by over 50% online shoppers was credit card, while cash payments upon receipt, and such services as Pago Facil and Rapi Pago were notably used in 2013. In Mexico, the largest share of B2C ecommerce sales is generated through credit card payment, while the other popular method is cash-on-delivery."

"However, in Brazil the percentage of the adult population with a relationship with a bank goes beyond 80%. The online and mobile payment markets in Brazil are on an ascending trend, and, as such, Boleto Bancario was the second most used payment method in Brazil, beside bank credit card."

"According to data from WorldPay, online purchases made using alternative payment methods are expected to rise to 59% in 2017 from 43% in 2012, recent findings indicate."

European Union: credit cards stand as prime payment method in B2C ecommerce

Thursday, 22nd May 2014

According to this, credit cards still dominate the B2C ecommerce market across the European Union and will keep its leading position in the near future.

"Cards take hold of the major share of the B2C ecommerce transactions in Europe, while digital wallets come next in place. European Union legislators are developing electronic payments regulations by integrating aspects such as security."

"Online payment contributes the largest share to card payment growth in the UK, with an annual growth rate of over 10%. Contactless cards’ value of payments in the UK exceeded GBP 100 million in early 2014. In France, credit card remains the most preferred payment method in B2C ecommerce and is followed by PayPal. The year-on-year growth of online credit card payments in France slowed to a single-digit percentage in early 2014. Online card spending in Italy increased year-on-year in every month of 2013, while in Spain, the two payment methods most used in online shopping in 2013 were bank credit card and PayPal."

"Credit card was the most preferred payment method in both B2C ecommerce and m-commerce in Sweden, though the share of online shoppers that prefer credit card decreased between 2012 and 2013. Card use kept the lion’s share in payments in Denmark and Norway in both B2C ecommerce and m-commerce, while in Finland online bank transfer was ahead of cards."

"However, in Germany, invoice keeps it domineering seat as a payment method in online shopping, which is acknowledged as secure and convenient. Still, credit card and digital wallets, are expanding. In Austria, the leading method both in m-commerce and B2C ecommerce was credit card, while online shoppers in Switzerland most used invoice in online shopping and credit card in mobile shopping."

"In Estonia B2C ecommerce transactions with bank cards are significant, with cross-border transactions by far outweighing the domestic ones."

Tablet banking in Europe to overtake mobile banking by 2016 - report

Wednesday, 21st May 2014

According to this, more European consumers will bank on their tablets than on their mobile phones by as soon as 2016.

"According to Forrester's European digital banking forecast for 2014 to 2018, while mobile banking use in Europe will grow fast, from 42 million users in 2013 to 99 million in 2018, tablet banking will grow twice as fast, from 19 million users in 2013 to 115 million in 2018. Growing tablet ownership, the increased availability of tablet banking apps, and fewer security fears among tablet users versus mobile users are among the key drivers behind the explosive tablet banking growth predicted by the report."

"The study also suggests that France is the only country in the forecast where tablet banking will not overtake mobile banking by 2016, as it combines lower tablet adoption than the other EU countries (apart from Italy) with the highest mobile banking adoption after the Netherlands and Sweden."

"Forrester expects the proportion of European tablet owners who bank on tablets to almost double from 35% in 2013 to 68% by 2018. According to the forecasts, in 2018, Sweden will have the highest tablet banking adoption at 89%, while Italy will have the lowest at 54%."

25% of online banking customers in the UK share login details

Tuesday, 20th May 2014

According to this, a quarter of online banking customers in the UK share their personal login details with another person, a recent study shows.

"1 in 4 (24.5%) online banking customers have handed their personal login details over to someone else, while 1 in 5 (19.2%) admitted to giving this information to their partner. Only 1 in 8 (16.2%) revealed to have shared the login information with another family member."

"Online banking login information was not the only type of personal information that customers shared, with 33.2% of current credit card clients admitting to have shared their PIN number with another person, either the spouse (82.5%) or a friend (3.36%)."

"This happens also with payment services such as PayPal and Amazon OneClick, where 24.4% of consumers allow someone else to use their banking details."

EAPS introduces new payment system to boost cross-border trade

Monday, 19th May 2014

The East Africa Payment System (EAPS) has launched a new payment system that will drive trade between Kenya, Uganda and Tanzania.

"By using the new payments system, a trader in Kenya can pay for goods in any of the three region’s currencies without necessarily changing them into a customer’s preferred mode of payment. A customer instructs their commercial bank detailing the currency they intend to transfer across the border and then the bank will conduct the transaction through the EAPS."

"Rwanda and Burundi are also expected to join the system, once they set up the real-time gross settlement (RTGS). The system is part of larger plan by the East African Community partner States to integrate their money and capital markets that has been under development for three years."

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