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yStat.com’s new research report about the development of online payment methods worldwide
New research from Hamburg’s secondary market research company yStats.com reveals in the report “Global Online Payment Methods: Second Half 2016,” that online payments are developing worldwide. The report contains up-to-date information about preferred payment methods, online payment dynamics, and mobile payment trends. Furthermore, their research indicates that emerging markets lead the worldwide transition from classic to alternative online payment methods and the divergence from online payments toward mobile payments.
Online shopper’s opinions about payment methods vary globally. According a survey cited in the yStats.com report, most online retailers provide a minimum of 3 payment options. Bank card payments still maintain the largest share of E-Commerce sales worldwide in comparison with different, individual payment methods. Together, alternative payment methods have a larger share than bank card payments.
The demand for alternative payment methods encourages innovation in developing markets, brought on by lesser bank card penetration in emerging economies compared with more developed markets. Recent yStats.com research suggests that consumers in Latin America, along with the Asia-Pacific, have an above average willingness to utilize mobile payments.
Across the globe, online consumers’ top priority is payment security. While 3D Secure is still a major payment authenticator, more authentication methods are in the development process. The yStats.com report suggests that fingerprint ID is a frontrunner in meeting these growing demands.
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