THE BEST PAYMENT OPTION HELPS YOU TURN PROSPECTS INTO CUSTOMERS.
PREFERRED PAYMENT METHODS IN COUNTRIES AROUND THE WORLD
People come from various parts of the globe, have distinctive ideologies and thus have diverse payment methods. So, Considering all aspects and specifications, here, we provide you with the insight of the online payment method based on country-wise preferences. Some countries prefer card payments, others prefer alternative payment methods.
Note that your payment options determine if a prospect becomes a customer.
The Netherlands
The most preferred payment method in Netherlands is iDEAL( online bank transfer system ). All Dutch banks support this method in Netherlands and it's been used by 10 million plus Dutch shoppers. Apart from iDEAL the other popular methods are MasterCard, VISA, Paypal, etc.
Germany
Talking about Germany, here, the most popular payment methods are Giropay, SEPA Direct Debit, SOFORT and Paypal. Besides these, Klaran and Apple pay also play important role in German market where online payment is considered.
France
Citizen of France are mostly familiar with Bank Transfers, Cartes Bancaires and PayPal online payment methods. However, Paylib is also a very known online payment method used by French people.
Belgium
Bancontact (debit card) and Maestro ( debit card) are the most common payment method used in Belgian market. As far as credit card is considered, VISA, MasterCard and American Express are known for playing the vital role for online payment methods. Also, SOFORT and SEPA direct payment cards are in the list of popular online payment methods in Belgium.
Poland
People of Poland usually prefer online bank transfers powered by "Przelewy24". But VISA, Paypal and MasterCard are also considered as the well known online payment methods used by polish people.
Italy
Italian people generally use Mastercard or VISA followed by Posterpay and CartaSi brand prepaid cards. Next to these cards, online bank transfers and Paypal are commonly known for online payment gateway in Italy. Also, Bancomat Pay is one of the rising name in the niche of online payment method as it is nearly used by 40 million Italians.
Australia
In Australia, the top most online payment methods are VISA, MasterCard and American Express. Besides these, PayPal, ZIP and POLi have a large number of users.
United States of America
In USA, American Express, MasterCard and VISAen are the leading online payment methods, followed by Discover, Paypal, Apple Pay and Amazon Pay.
Brazil
Brazillian people prefer Boleto,MasterCard, VISA and bank transfers for online payment method.
Argentina
Cobro Express, PagoFacil and RapiPago are the most familiar online payment methods in Argentina followed by VISA and MasterCard.
Spain
Spanish people love to use VISA, MasterCard and Paypal as the online payment methods. Meanwhile, Local card and Dynamic 3D secure are also highly recommended for transactions.
Ireland
MasterCard, VISA and PayPal are the most preferable online methods by Irish people.
Chile
Chile is using VISA, MasterCard, Red Compra and American Express as the most popular online payment method.
Panam
People of Panama are mostly familiar with VISA, MasterCard, cash payments and Debit via WebPay as the online payment gateway.
Peru
American Express, VISA, MasterCard and Pago Efectivo are the most frequently used online payment methods in Peru.
Mexico
Mostly, MasterCard, VISA credit or debit card are used by Mexican people. Apart from these, OXXO and 7Eleven are also commonly known in the category of online payment methods in Mexico.
Colombia
Colombian people prefers bank transfers ( PSE banking system ), Efecty, Baloto and SuRed as online payment methods followed by MasterCard and VISA.
Czech Republic
MasterCard and VISA are the mostly used online payment method in Czech Republic. Besides these methods, online bank transfer is also well known payment method in this country.
Hungary
The most popular online payment methods in Hungary are cash on delivery, card on delivery, money transfers (SEPA), bank cards (Skrill, Stripe, Hipay, BlueSnap).
Romania
The primary international debit and credit card brands MasterCard and VISA are commonly used in Romania as some of the famous online payment methods.
Russian Federation
As the common goods and digital purchase medium, Russian Federation accepts digital wallets from QIWI, Yandex.Money and Webmoney. In addition, it uses MasterCard, VISA and local card 'MIR' for online transactions.
Turkey
Common payment methods accepted in Turkey includes Pay with credit cards (SagePay, Fastpay, Skrill, HiPay, Ingenico PaymentServices), pay with cash on delivery and transfers (SEPA), pay with eWallets (Stripe) pay with debit cards.
India
MasterCard, VISA, Rupay, netbanking, Paytm, GooglePay, Phonepay, American Express, etc are the most common payment methods in India.
South Africa
American Express, VISA and MasterCard are mostly the prefer by people of South Africa.
Japan
The most popular online payment methods of Japan are bank cards, cash in convenience stores (Konbini), direct debit, eWallets (Stripe, Skrill, BlueSnap), PayPal (BlueSnap), invoice (BlueSnap).
United Kingdom
VISA and MasterCard are mostly used in the market of the UK. Also, Klarna ( pay later method) and PayPal are very popular as far as online payment method is considered in the UK.
Canada
Some of the most popular online payment methods in Canada are bank card (2Checkout, Braintree, Simplify Commerce, Stripe, Authorize.Net, WorldPay, SagePay, Netbanx, Moneris, CCBill, Hipay, BlueSnap, QHWR/BillriantPay), PayPal, prepaid cards (CCBill), cash or check: MoneyGram, invoice.
Denmark
VISA (Dankort), MasterCard, MobilePay, Trustly (online bank transfers) and PayPal are populous payment methods in Denmark.
Sweden
Pay with credit/debit cards (SagePay, Skrill, YourPay, HiPay, BlueSnap, QHWR/BillriantPay, Ingenico PaymentServices), Pay on invoice, Pay with online bank transfers
(Nordea, SEPA), Pay with eWallets (Stripe) are common and popular payment modes in Sweden.
(Nordea, SEPA), Pay with eWallets (Stripe) are common and popular payment modes in Sweden.
Norway
Popular payment methods in Norway are - bank cards (SagePay, Skrill, YourPay, HiPay, BlueSnap, ViaBill, QHWR/BillriantPay, Klarna), bank transfer (BankAccess), eWallets (Stripe), Pay on invoice.
Finland
Money transfers (SEPA), Bank cards (Paytrail, YourPay, Skrill, Stripe, Hipay, BlueSnap, Klarna), Invoice (Paytrail, BlueSnap, QHWR/BillriantPay) are common payment methods.
China
China includes diverse range of payment methods that includes Credit/Debit cards (2Checkout, Skrill, WorldPay, Hipay, BlueSnap), Alipay, Tenpay, UnionPay, Cash and prepaid cards, eWallets (Stripe, Skrill, BlueSnap), PayPal (BlueSnap), invoice (BlueSnap).
Indonesia
Indonesia has numerous key payment methods for online purchase. It includes - Pay with bank cards (Worldpay, Skrill, 2checkout, Hipay, BlueSnap, eWay, QHWR/BillriantPay), Pay with bank transfers, Pay with cash on delivery, Pay with eWallets, Pay by PayPal, Pay by invoice.
New Zealand
In New Zealand, Kiwi's use POLi and AfterPay while purchasing online followed by VISA, MasterCard, American Express and Paypal. Apple Pay and Google Pay seem to swiftly gain more traction.
Iceland
For Icelandic shoppers, Apple Pay and Google Pay seem to gain traction.Besides, MasterCard and PayPal are the key online payment methods.
Greece
The major credit card brands MasterCard and VISA including VISA Electron are the most popular online payment methods in Greece.
Portugal
The top three online payment methods of Portugal are MultiBanco, creditcards (MasterCard and VISA) and PayPal. Besides, online bank transfers represents 10%-15% of all online payments.
Switzerland
Popular online payment methods in Switzerland are Credit/debit cards (PostFinance, PayOne, HiPay, BlueSnap, QHWR/BillriantPay, Ingenico PaymentServices, Heidelpay, PayOne, Mollie), Bank transfer, eWallets (Stripe).
Austria
The most important payment methods in Austria are creditcards (MasterCard, VISA), PayPal, SOFORT, Klarna and EPS.
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For an online marketer, it is of high importance to propose the right set of online payment methods to be able to turn leads into closing customers. Every country has its own precise online payment practices, cultural inclinations and payment solutions.
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WHICH PAYMENT METHODS TO SUPPORT PER COUNTRY?
This section covers insight in online payment decisions for specific countries.
It takes into account the market characteristics like mobile commerce trends,
online retail sales and top online payment methods..
Herein, we have included which payment providers conduct business locally and support online merchants
for acceptance of local payment methods, in order to make your lives easier.
'MARKET INSIGHT IS THE KEY TO BEST PAYMENT SOLUTION
It is important to know your markets you are active in, or that are on your list for future expansion. Try to offer the right payment option by not missing out on selling your goods and attracting new customers.
Some of the key factors that should be taken into consideration includes - market size and growth potential, the total online (retail) sales and internet access rates.
NUMEROUS PAYMENT PROVIDERS PER COUNTRY
This section contain information on the Payment Gateways, Payment Service Providers, and Acquirers who are active in that particular market. PSPs and Gateways provide the technical hub.
Acquirers pays the merchants via PSP or Payment Gateway
They route transactions, collect funds from and negotiate transaction pricing with Merchant Acquirer, depending on the payment provider type.