A new publication from the Germany-based secondary market research organization yStats.com indicates that online payments around the world are changing. The report, titled “Global Online Payment Methods: Second Half 2016”, synthesizes the most up-to-date information about online shoppers’ preferences for payment methods, while also highlighting general online payment dynamics and mobile payment trends.

The report found that:

• preferences of online shoppers on payment methods continue to differ worldwide
• emerging markets stand at the forefront of the global shift from traditional to alternative online payment methods and from online to mobile payments, often due to lower bank card penetration in these countries compared to advanced markets 
• although credit and debit cards still account for the highest share of global E-Commerce sales compared to other individual payment methods, the combined share of alternative payment methods now outweighs bank card payments and accounts for more than 50% of global online retail payments
• two thirds of online retailers now offer at least 3 different payment options
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  • Source & Copyright©2017 - yStats.com

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CTMfile take: To compete in global e-commerce companies have to offer a range of payment options. Is your company offering enough?