Payment Preferences for the 12 Largest Global Ecommerce Markets
Alternative payment methods are expected to not just overtake credit cards by 2020, but replace them altogether. While the historically ubiquitous VISA and Mastercard may still prove sufficient for domestic business, just offering these payment options to the most lucrative global ecommerce markets is insufficient for most local customers.
Offering local payment options is critical to increasing conversion and reducing friction at check out. Any retailer or brand going global should keep this cheat sheet handy to know exactly how their new international consumers want (and expect) to be able to pay.
What's in this infographic:
- Payment preferences for each of the top 12 largest international e-commerce markets (including China, UK, India, South Korea, Indonesia, and more)
- Current e-commerce market size for top 12
- Alternative payment method preferences organized by country
- Actionable steps for launching and optimizing a cross-border e-commerce strategy