Digital payment transactions grow during the Coronavirus pandemic, reveals a new report by yStats.com A new market report published by Germany-based yStats.com, a leading provider of E-Commerce and Online Payments business intelligence, reveals the main effects of COVID-19 on the global payments industry. According to the findings cited in the report, “Global Online Payment Methods 2020 And COVID-19’s Impact”, digital payments are on the rise while cash transactions decline during the outbreak. Full report here: https://bit.ly/31e3feG

1. PRESS RELEASE
Hamburg, May 27th, 2020
Alternative payment methods battle credit cards online, according to a
new report by yStats.com
According to the findings of a new market report by yStats.com, “Global Alternative Online Payment Methods 2020 And
COVID-19’s Impact,” E-Wallets are the top alternative payment methods used by online shoppers worldwide. In this report, Germany-
based secondary market research company specialized in global E-Commerce and payments intelligence, reveals the rankings of the
leading online payment instruments in over 30 countries across all global regions.
E-Wallets dominate among alternative online payment methods
According to a recent survey cited in the yStats.com report, one-fifth of digital buyers worldwide would not complete an online
purchase if their preferred payment method is not offered. While credit and debit cards are the top choices of e-consumers in the USA, Brazil,
France, Japan, South Africa, and many other countries, alternative payment means are gaining importance. Among them, E-Wallets such as
PayPal and Alipay are the top methods used, already leading in various E-Commerce markets worldwide. Other popular alternatives to credit
cards used by online shoppers are bank transfer, cash on delivery, and invoice.
Security concerns guide the choice of payment methods amid COVID-19
Amid the coronavirus outbreak, the payment choices of digital buyers continue to vary by country and region, as the yStats.com shows.
While the overall preference ranking still holds, there is also a significant share of online buyers which are using payment methods they have
never used before. For example, nearly one in five digital buyers in Italy paid by a prepaid card online for the first time, and one-tenth of
Canada’s online shoppers started using a digital wallet. The main factor considered by consumers when choosing a payment method during the
pandemic is it security and protection against fraud loss.
For further information, see: https://www.ystats.com/market-reports/global-alternative-online-payment-methods-2020-and-covid-19s-impact/
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About yStats.com
Founded in 2005 and headquartered in Hamburg, Germany, yStats.com is one of the world's leading secondary market research companies. We are committed to
providing the most up-to-date and objective data on Global B2C E-Commerce and Online Payment markets to sector-leading companies worldwide.
Our multilingual staff researches, gathers, filters and translates information from thousands of reputable sources to synthesize accurate and timely reports in our
areas of expertise, covering more than 100 countries and all global regions. Our market reports focus predominantly on online retail and payments, but also cover
a broad range of related topics including M-Commerce, Cross-Border E-Commerce, E-Commerce Delivery, Online Gaming and many others. In addition to our wide
selection of market reports, we also provide custom market research services.
We are proud to cooperate with companies like Bloomberg and Thomson Reuters. Given our numerous citations in leading media sources and journals worldwide,
including Forbes and the Wall Street Journal, we are considered one of the most highly-reputed international secondary market research companies with an
expertise in the areas of B2C E-Commerce and Online Payment.