Future of Payment eCommerce Choices Featured

Infographic: Ecommerce Payment Choices in 2014

Future of Payment eCommerce Choices Featured

What’s the eCommerce situation like in 2014?

Ecommerce is growing, there’s definitely no doubt about that. There’s a weird trend to try and break eCommerce and mCommerce into separate things, partly more for the sake of clarity than really distinguishing how customers interact with purchasing a product online.

But what’s the market saying about eCommerce and where it has potential? Where should you be looking, and how should you be marketing your solutions? What are the problems that banks, retailers and merchants are facing and need solving?

Well, this infographic from Raconteur looks at data from a wide range of sources and asks some important questions along the way.

While you can click the infographic below to see things larger, if you’d rather just read the key points, here they are:

- In the UK 68 per cent of people prefer to pay by card when making an online transaction, while 23 per cent make use of micropay services like PayPal

- Spain accounts for the most micropay service users in Europe, with 34 per cent of eCommerce shoppers using them for payments, which is 9 per cent less that those who use card payments online

- Denmark is the highest card payment using country, with 88 per cent of eCommerce transactions being made using card

- Interestingly, only 9 per cent of Germany’s eCommerce transactions use card. Instead, Germans prefer to use invoices and instalments, or services like PayPal, to pay for eCommerce goods

- By 2020, it’s estimated that there will be 177bn non-cash transactions made in Europe – comparatively, it’s believed that by 2015 we’ll reach 121bn non-cash transactions

- 48 per cent of respondents feel that ease of use will be the most relevant aspect to payment convenience in 2015

- Amazingly, 50 per cent believe that the wallet stands the best chance at “winning” eCommerce

- And 73 per cent of shoppers said that the most appealing transaction criteria is being able to pay using several payment options

Future of Payment eCommerce Choices

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