Digital Marketing Researches & Reports

Going Global: Payment Insights to Achieve Growth at Scale, 2018 | Mastercard

| Australia

The new digital era has witnessed a revolution in payments, transforming both how consumers make purchases as well as the opportunities available to retailers. In the same context, E-Wallets and other smartphone methods of payment are gaining market share year-over-year, but in all markets, card and bank transfers are still hugely popular.

Read the below and take a quick glance at the preferred payment methods and what payment innovations look like in select markets: the US, UK, Australia, India, Singapore, United Arab Emirates, Brazil, and Mexico.

The Most Preferred Payment Methods in 2018:

  • Card payments are still prevalent in Singapore (79%), the UK (78%), the US (71.5%), India (65.4%), Brazil (59%), Australia (57%) and finally Mexico (30.5%).
  • In contrast, the UAE is leading the charge in payments via PC and tablet, as opposed to mobile.
  • India leads all markets in term of using E-wallet with a rate of 17.8%, followed by the US (17.6), Mexico (17.3) and the UK (16.2).

E-Commerce and Digital Payment in 2018:

  • Cards are the most used payment methods for the US e-commerce consumers with a rate of 71.5%. In terms of using e-wallets (17.6%), PayPal grabbed a rate of 16.2%, and only 0.7% goes to Google Wallet.
  • The same is in the UK and Mexico as cards and e-wallets are the most used payment methods for e-commerce customers there.
  • 85% of US, 83% of Australian and 80% of Uk respondents interact with brands on social, while 53% of US and Indian respondents have made a purchase after watching a branded video.
  • Nearly a quarter of UK mobile buyers have used a mobile wallet to pay for products or services, compared to 19% in Australia 13% in Brazil and 10% in Mexico.
Going Global: Payment Insights to Achieve Growth at Scale, 2018 | Mastercard 1 | Digital Marketing Community

A Graph Shows the Most Used Payment Methods for the US E-Commerce Consumers in 2018

Mastercard

Financial Services

Mastercard (NYSE: MA), is a technology company in the global payments industry.  Mastercard's global payments processing network connects consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories.  The company products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone.
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