The Green Sheet Online Edition
June 6, 2014 • 14:06:02
Alternative payments gaining momentum
A 2014 WorldPay Inc. report, Your Global Guide to Alternative Payments (Second Edition), revealed how the rising influence of alternative (noncard) payments in global markets is redefining the payments landscape. The report also made projections for the coming years. Leading alternative payment schemes identified include PayPal, AliPay, TenPay, Skrill, IDEAL, Paysafecard, Yandex Money, Konbini, Sofort, Klarna, Ukash, WebMoney and GiroPay.
Key findings:
| Projected percentage of online purchases using alternative payments by 2017 | 59 percent |
| Projected percentage of online purchases using credit or debit cards by 2017 | 41 percent |
| PayPal's global market share as an alternative payment scheme (ranked first) | 57 percent |
| Alipay's global market share as an alternative payment scheme (ranked second) | 20 percent |
| Projected global market share for card-based e-wallets by 2017 | 25 percent |
| Percentage of transactions made using e-wallets in China today | 44 percent |
| Payment type/volume/global share | 2012 | 2017 |
|---|---|---|
| E-wallets | $295 billion (17 percent) | $1.65 trillion (41 percent) |
| Bank transfers | $122 billion (7 percent) | $245 billion (6 percent) |
| Others | $164 billion (10 percent) | $209 billion (5 percent) |
| Mobile | $18 billion (1 percent) | $117 billion (3 percent) |
| Cash on delivery | $93 billion (5 percent) | $93 billion (3 percent) |
| Direct debits | $42 billion (2 percent) | $54 billion (1 percent) |
#h2Top 20 e-commerce markets 2012 (based on 2012 payment volume)
| Population (millions) | E-commerce volume (billions) | |
|---|---|---|
| United States | 314 | $593.6 |
| United Kingdom | 63 | $212 |
| China* | 1.3 billion | $190 |
| Japan | 128 | $155.4 |
| Germany | 82 | $83.6 |
| France | 66 | $73.7 |
| Australia | 23 | $47 |
| Canada | 35 | $31.6 |
| Italy | 61 | $27.2 |
| South Korea | 50 | $24 |
| Spain | 47 | $23.6 |
| Turkey | 74 | $19.9 |
| Netherlands | 17 | $16.4 |
| Sweden | 10 | $16.3 |
| Brazil | 199 | $16.2 |
| Taiwan | 23 | $15.7 |
| India | 1.2 billion | $14 |
| Russia | 144 | $13.2 |
| Austria | 8 | $12.6 |
| Finland | 5 | $12.5 |
*Note: In 2014, China surpassed the United States in e-commerce volume.
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