Credit cards are still proving popular among
Latin American online shoppers with the payment method accounting
for 70% of all transactions on the internet during 2010.
Market research firm yStats’s Global
Online Payments Methods 2011 study also shows e-commerce
transactions using credit card accounted for 40% of online
transactions in North America during 2010 but this figure is set to
decrease slightly by 2015.
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Online credit card payments continue to be the
European choice for transacting on the internet, with a 40% market
share. The payment method accounted for 60% of online purchases in
Q3 2010 in the UK and France, followed by micropayment services.
German consumers are still hesitant to use credit cards for online
purchases (20%) and invoicing remains the country’s most popular
payment method.
“The report clearly shows that the market for
e-commerce continues to grow in Asia as well,” said the report.
“Japanese online payments are expected to boom
over the next five years, from JPY40trn ($489trn) in 2010 to
JPY50trn in 2015.”
Credit cards remain a popular payment method
with South Korean online users, with a 70% market share – followed
by money transfer services.
The report also acknowledged PayPal for its
successful expansion strategy in Singapore. The alternative payment
method increased the number of its users in the Asian country by
45% during 2010 to more than 900,000.
