E-wallets will equal cards as the most popular payment method globally by 2017
Worldpay has just launched « Your Global Guide to Alternative Payments (Second Edition) », an in-depth study of the global payment landscape.
According to this study, e-wallets will equal cards as the most popular payment method globally, with each predicted to have a 41% share of the overall online payments market in 2017.
It’s estimated that alternative payments (any form of payment other than credit or debit cards) will account for 59% of all online transactions in 2017, up from 43% in 2012. Card payment market share (including credit and debit) will decline from 57% in 2012 to 41% in 2017.
Moreover, in Europe, payments market varies significantly from one country to another. While countries like UK, Ireland, Denmark and Turkey still stick to card based payments, countries including Poland, Finland, Germany and the Netherlands have shown a trend of increased alternative payment methods.
For more information, the full report is available for download here.