1、Your defi nitive guide to the world of online payments GL BAL PAYMENTS REPORT NOVEMBER 2017 Methodology Global payment trends Key insights Market guides Payment method defi nitions Contents This report has been compiled using a mixture of primary and secondary data sources. Primary refers to our own

2、 surveys and commissioned research; whereas secondary refers to authoritative third-party vendor data, and other publicly available data. The report also draws upon Worldpays decades of experience in providing global eCommerce solutions. The eCommerce projected growth fi gures contained in this repo

3、rt were sourced from GlobalDatas E-Commerce Analytics database and relate to the eCommerce industry as a whole, not Worldpays business. GlobalData collected this data using consumer surveys, B2B surveys and desk research. Any indicative predictions based on the data we have used should be treated as

4、 such. Its also worth noting that this year Charge and Deferred Debit Card was broken out as its own category for the fi rst time. Previously those payment methods were included in the Debit Card share, so in markets where Charge and Deferred Debit exists, Debit Card is likely to have declined in sh

5、are from last year. Also, the Card Scheme Breakdown fi gures are representative of total payments and are not exclusive to eCommerce. Due to changes to the way data is collected by our provider (GlobalData), some baseline eCommerce projected growth fi gures may be diff erent from last years edition.

6、32 The report is intended to provide a useful at-a-glance snapshot of the current eCommerce payment situation in selected countries, as well as highlighting scenarios and trends over the next fi ve years. Its important to note that all predictions and conclusions are indicative only, based on curren

7、t data. Theyre naturally subject to changes in world events and market dynamics over the period concerned (to 2021). As well as the primary and secondary sources mentioned above, sources used for this report also include specifi c organisations and publications such as: Local card, banking and/or pa

8、yments associations Card scheme and payment providers eCommerce industry reports and studies Other payments, surveys and reports Third-party news articles International organisations such as World Bank and IMF Methodology Global payment methods breakdownGlobal payment trends 20162021 Credit Card 29%

9、 15% eWallet 18% 46% Bank Transfer 17% 16% Debit Card 13% 8% Cash on Delivery 9% 7% Charge hence the usual bump in senior consumer spending on travel and leisure. In Europe, people over 50 spend 71% more than young people on their average purchases.16 In the U.S., consumers over 50 will soon account

10、 for 70% of the countrys disposable income.17 This mighty demographic has been overlooked when it comes to eCommerce, largely because merchants assumed they would not, or could not, adapt to new technologies. But, with digital technologies now spanning generations, and as smartphone use continues to

11、 rise among seniors, the time has come for a shift in focus. In the UK alone, smartphone use among people over 55 jumped from 18% in 2012 to 45% in 2016,18 and nearly half of internet users between 65 and 74 now have social media profi les.19 Silver Surfers Baby Boomers and Silver Surfers to reshape

12、 global payments markets As lifespans extend and seniors start to make up an increasing percentage of the global population, eCommerce merchants will need to focus on this booming business opportunity. This will involve adapting their user experience, providing intuitive and straightforward product

13、information, a quick and effi cient payment process, and customer service which demonstrates their brand values for all generations. Bank Transfer Bank Transfers to leave Credit and Debit in the dust Of all the alternative payment methods gaining eCommerce market share, Bank Transfers are proving th

14、e most interesting both in terms of their growth and technological evolution. eWallets remain the global payment method of choice for eCommerce, and will continue to grow in popularity, but Bank Transfers will make substantial gains over the next fi ve years, surpassing both Credit and Debit Cards i

15、n popularity. In fact, they are forecast to become the second most popular payment method globally by 2021, with an eCommerce market share of 16.5%. 13 of the 36 eCommerce markets studied by Worldpay to develop this report listed Bank Transfers as the preferred payment method for 20 or more percent

16、of all eCommerce purchases. Crucially, these 13 markets span every continent except North America,20 which shows that the rise of Bank Transfers is a global trend. In all cases, there are two main drivers for this growth: convenience and access. In the established eCommerce markets of Western Europe

17、, where many consumers already have bank accounts and multiple options for payment methods, people value the convenience of only having to remember their online banking details rather than the information needed when paying by card. In addition, as Bank Transfers are instant there is also no concern

18、 about having available credit or needing to pay a bill at the end of the month. Once a transaction is complete, a consumer simply needs to wait for their purchase to be delivered. Another driver in the region is that European consumers have a high level of trust in their banks and in online banking

19、, and therefore feel confi dent that a payment made via bank transfer will be reliable and protected from fraud. Bank Transfer Bank Transfers to leave Credit and Debit in the dust In addition, payment methods like Sofort, iDEAL and Trustly are proving popular with European consumers and continue to

20、win market share from more traditional payment methods. Regulatory changes occurring in the region are sure to spur further innovation, as new players enter the market and take advantage of recent initiatives, like PSD2, to open up bank account access.21 Convenience is also driving the adoption of b

21、ank transfers for eCommerce payments in the developing world, but above all adoption is being driven by large portions of the population gaining account access and capitalising on this. Particularly in countries where people are already comfortable using mobile phones for low-value instant payments,

22、 consumers have been quick to use Bank Transfer for larger value purchases once they become available. In Malaysia and India, there has been marked success with government policies to expand fi nancial inclusion and access to bank accounts. Malaysia in particular has achieved the highest level of fi

23、 nancial inclusion in South East Asia, with 81% of adults having an account with a licensed fi nancial institution,22 whereas in India, currently only 53 percent of those aged +15 years had a bank account in 2014.23 By comparison, 61% of all adults have bank accounts globally.24 Because not all bank

24、 accounts automatically come with linked payment cards, Bank Transfers are oft en the easiest and most att ractive way for consumers to access funds for online purchases. Bank Transfers are also an att ractive option for online merchants, as there is generally a lower cost of payment acceptance than

25、 for payment cards. This has made them an appealing option to off er alongside eWallets and Credit and Debit Cards. Subscriptions Subscription services: the price of convenience The rise of on-demand services like Amazon Prime, Netfl ix and Spotify has reshaped entire industries. More recently, subs

26、cription services have become common among consumers buying groceries, beauty products, clothing, fl owers and more, thanks to a growing demand for convenience among both consumers and merchants. Amazon alone now has 85 million Prime members, a 35% increase since the end of 2016.25 For its part, Spo

27、tify reached 60 million paying subscribers as of July 2017, double the number it had in March 2016.26 As peoples lifestyles become more complex to manage, subscriptions reduce what many see as the burden of choice so that we can save our time and decision- making eff ort for more important matt ers.

28、 To add to this, once a consumer has signed up to a subscription service the act of payment fades into the background of their everyday life, which means they can regularly enjoy their new goods or services without consciously paying a bill at the time of purchase. This is especially the case for yo

29、ung consumers. In the US, for instance, 92% of millennials have active subscriptions. Its worth noting this percentage is lower, but still signifi cant, among retirees, at 70%.27 Content subscriptions continue to grow in popularity, but remain in a state of fl ux. The digitalisation of information a

30、nd news has fundamentally changed how people consume content and therefore how they want to pay for it. Virtually every major news provider has sought to monetise its platform, with varying degrees of success. While the New York Times picked up 130,000 new subscribers in November 2016, 10 times its

31、average monthly growth rate,28 many publishers are still struggling to build a robust base of paying digital users. In the retail sector, increasing competition and a call for greater convenience is precipitating a shift towards subscription-based business models. From Birchbox, which off ers subscr

32、ibers the latest in beauty products, to Eleven James,29 which allows customers to rent luxury watches, subscription-based retail is on the rise. Not only do these off er a new way to engage with consumers, they also promote a stickier relationship with people who would otherwise be less regular shop

33、pers. This is a major selling point at a time when consumer loyalty is hard to fi nd. Subscriptions Subscription services: the price of convenience Subscriptions are also helping traditional businesses to adapt to new consumer habits. For example, Volvo recently announced plans to sell cars via mont

34、hly subscription. Unlike leasing or fi nancing, this approach mimics that of a mobile phone contract whereby customers can upgrade every year or two as new models are released.30 Consumers increasingly crave the latest model of everything from cars to smartphones to sports equipment and this form of

35、 fl exible subscription will likely extend to a range of lifestyle goods. The benefi t of subscriptions to consumers is clear, but they also off er signifi cant advantages for merchants. Most importantly, recurring billing provides a steadier fl ow of income and helps them reduce churn. By making it

36、 possible for customers to spend smaller amounts over time, retailers can build a longer term relationship with them and gather a range of insights on how demands and preferences change over time. This in turn arms them with insight with which to tailor their products or services. Costco turns over

37、its entire product suite 12 times a year to serve its 75 million US subscribers.31 Online merchants considering a move to subscription-based payments must fi rst ensure that their back offi ce infrastructure and technology platforms are equipped to deal with customised billing models. They also need

38、 to be fl exible and support a range of payment methods including Credit and Debit Cards, Bank Transfers and eWallets, among others particularly if they want to deliver a consistent level of service in multiple markets with diff erent payment preferences. Equally, subscription-based businesses must

39、be able to confi rm that the Credit and Debit Card details they have on fi le for each customer are correct before accepting a payment, so as to avoid missed revenue due to lost, stolen or out of date cards. Market guides ARGENTINA d+ 17 29 42 US$7 bn US$14 bn 2021 US$2 bn US$6 bn US$8 bn 2017 ECOMM

40、ERCE PROJECTED GROWTH US$21 bnUS Instalment payments are an important aspect of eCommerce sales in Argentina, as they allow consumers to break up the total cost of their purchase into more manageable amounts. As the proliferation of smartphones increases, mCommerce grew to over 20% of total eCommerc

41、e revenues in 2016. The eCommerce landscape here is poised for growth as regulatory changes are expected to open up the market to foreign entrants and expand the countrys potential. TOP TIP Credit Cards are still overwhelmingly the most preferred payment method for eCommerce sales. Paying by instalm

42、ent is also very popular and should be an option off ered to consumers most prefer a plan with 7-12 instalments. POPULAR ALTERNATIVE PAYMENT METHODS 2016 ECOMMERCE MIX BY PAYMENT METHODS Credit Card 33% eWallet 21% Bank Transfer 15% Cash on Delivery 9% PostPay 7% Charge January 2017, cited in Statis

43、ta 4 Worldpay data Global Payments Report 2017 5 World Bank Global Financial Development, updated June 2017 6 htt ps:/ nancecouncil/2017/04/05/argentina-is-hot-again-the-impact-on-cross-border- commerce/#372ea06232fd 7 htt ps:/www.pwc.de/en/internationalisierung/argentina-and-brazil-a-comparison-of-

44、south-americas-two-largest-economies.html 8 htt ps:/ htt p:/www. .ar/2045232-nespresso-presento-en-la-argentina-su-cafetera-conectada-expert-milk; 9 htt p:/ 10 Worldpay data Global Payments Report 2017 11 Samsung Pay, Apple Pay, Android Pay etc. 12 htt ps:/ resolutely-young 13 htt p:/ 14 htt p:/ les

45、/emea/sweden/research/worldshoppermapic2016.pdf 15 htt ps:/www.swissinfo.ch/eng/business/spending-habits_silver-surfers-embrace-online-shopping/41479054 16 htt p:/ 17 TBC 18 TNS Infratest, Google, Statista 2017 19 htt ps:/www.ofcom.org.uk/about-ofcom/latest/media/media-releases/2017/rise-social-seni

46、ors 20 2017 Global Payments Report 21 htt ps:/www.paymentsuk.org.uk/policy/european-and-uk-developments/second-payment-services-directive-psd2 22 htt p:/www.worldbank.org/en/news/press-release/2017/05/22/malaysia-shares-lessons-on-achieving-high-fi nancial-inclusion-for- other-countries 23 htt p:/da

47、tatopics.worldbank.org/fi nancialinclusion/country/india 24 htt p:/www.worldbank.org/en/news/press-release/2017/05/22/malaysia-shares-lessons-on-achieving-high-fi nancial-inclusion-for- other-countries 25 Business Insider, Consumer intelligence research partners, Statista 26 Statista, htt ps:/ 27 ht

48、t ps:/ 28 htt ps:/ 29 htt ps:/ thinks-so/#62dbb79d322c 30 htt p:/ 31 htt ps:/ 32 GlobalData changed its eCommerce research approach with the view to providing improved estimates of the market size and address complexities in the eCommerce research environment. As a result, the methodology changed fr

49、om predominantly leveraging consumer survey data to combining inputs from three eCommerce data sources: publically available sources, GlobalDatas proprietary consumer surveys, and GlobalDatas B2B surveys. Worldpay 2017. All rights reserved. The information, opinions and any analysis (together, “Information”) contained herein are based on sources believed to be reliable but no representation or warranty, expressed or implied,