In a global world where having a competitive edge is more important than ever before, payment systems need to optimize their processes for consumers and their requirements. Today there are more than 300 different methods of payment available worldwide. If your business wants to go international or raise your global revenue, it’s important that you find the right payment provider for the countries that you wish to sell in. Here’s an overview of different countries and the most important payment methods in each country.
The digital market in Europe is not unified - in fact, there are big differences in the viewpoints of different European countries. While customers in Germany, the Netherlands and Belgium often purchase products from international online shops, customers in France and Spain are less likely to complete cross-border transactions. The most common payment methods also vary from country to country, so it is important to develop a unique strategy that suits each country’s market the best.
Asia and the pacific hosts 60% of the world population - and one of the most competitive economic markets in the world. Since certain countries do require an established business in their country to sell products there online, payment strategies in these countries offer massive revenue potential for online businesses.
Although the America e-commerce market is already heavily established, there is still room for growth, especially in m-commerce. The Latin American market features the strongest potential for growth - m-commerce is only just becoming established there.
In the next years, Africa and Middle East markets are expected to grow considerably, as the Internet and Smartphone penetration increase. E-commerce is currently mostly used to purchase physical goods, notably electronics, medias and fashion products.
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