<img height="1" width="1" src="https://www.facebook.com/tr?id=900067807144166&amp;ev=PageView &amp;noscript=1">

At this very moment, 2.1 billion people around the world are making a payment or sending money digitally.

Trade, whether traditional or electronic, works increasingly through invisible transfers, which in turn bring perceptible advantages both for buyers and sellers: a more agile, secure and affordable system for the global economy – as opposed to the higher costs involved in managing cash and checks.

Table of Contents

  1. Why is it important to offer a variety of payment methods?
  2. Which are the most popular online payment systems?
  3. Types of online payment methods for ecommerce
  4. The 8 best payment systems for online shops
    1. PayPal
    2. Apple Pay
    3. Stripe
    4. Google Pay
    5. Masterpass
    6. Visa Checkout
    7. Amazon Pay
    8. American Express
  5. Conclusion

Why is it important to offer a variety of payment methods?

50% of consumers will abort their purchase if they don’t see their preferred payment system available.

You may think that, as more and more payment methods become available on the market, it’s going to be very difficult to anticipate the needs of all of your customers; but that’s a good reason to include a variety of payment systems in your ecommerce business, just like you’d find in physical stores.

If nowadays it seems antiquated when a store doesn’t accept payment by bank card, it will soon appear outdated for an online store not to offer Apple Pay or PayPal at checkout.

The advantages offered by online payment systems are:

  • Location: Regional payment systems can be incorporated along with global methods.
  • Convenience: This is especially important for the customer, who looks for speed in online shopping and wants to make secure payments without revealing too much personal information.
  • Audience: Payment methods can be adapted to the systems that are most used by customers in a given region or to a specific demographic.

What’s more, if one of your payment systems causes problems, having further options available is a good way to sustain conversions and avoid a drop in buyer numbers due to technical faults.

Don't be like the shopkeeper who gets stuck when one morning his cash register won’t open.

Keep reading: 12 reasons why shoppers leave your online shop

Which are the most popular online payment systems?

It’s no great surprise to learn that the most widely used payment method worldwide is still the bank card.

One reason why these breakthrough technologies that all the experts are talking about, are not more successful, is that their adoption rate is usually very slow. Voice assistants and social selling may become commonplace in the future, but as yet it’s not even usual to see shoppers paying with their smartwatch.

In order of volume of use, these are the most popular payment methods worldwide:

  • Digital wallets (Paypal, Alipay)
  • Credit and debit cards (Visa, MasterCard)
  • Bank transfers
  • Direct Debit
  • Invoice
  • Virtual cards and currency
  • Coupons and store gift cards

Wait a minute! Didn't we just say bank cards were the most widely used method?

Actually, we need to take the detailed distribution of that worldwide data into account. WeChat Pay and Alipay e-wallets are the most used, but that’s because two thirds of the global volume of online payments is conducted in the Asia-Pacific region and 50% corresponds to China. If we take into account the remaining regions of the world, bank cards are still the dominant system.ç

Step by step: Essentials add-ons for your online store in PrestaShop

Types of online payment methods for ecommerce

Debit and Credit Cards

As already mentioned, these are the most popular method in Latin America, India, the United States and Europe. In physical stores, cards are increasingly used with an NFC (Near Field Communication) payment system, which allows contactless payments through a device or card. It is also the preferred system for young people: according to a study by Deloitte, 80% of transactions made by millennials are made by card.

In the use of cards for online payments, tokenization, a system that hides the card number from the buyer, is spreading to increase security.


E-wallets are a digital tool that allows you to include cards or bank accounts (and even crypto-currency) to make payments using another device, such as your smartphone or pc. There are global e-wallet methods, such as Apple Pay, Microsoft Wallet, Samsung Pay and Alipay, as well as regional ones:

  • India: MobiKwik, Oxigen, FreeCharge, PayU Money.
  • Europe: Payconiq, Payback, Paylib, Lyf Pay, Pingit, Vipps, Swish, MobilePay, OK.
  • China: Alipay, WeChat Pay

Don't miss this: Why smartphones are the favourite ecommerce channel

Online Banking ePayments (OBeP)

An online payment system, less extensive than the previous ones, which facilitates banking transactions with access and information in real time, without the need for a card. 

Direct Debit

This system is used to schedule recurring payments, since a request is sent to the bank to authorize payments automatically, such as RatePAY, SlimPay, GoCardless or SEPA Express.

App payments

These are the Buy Now buttons that are becoming popular on social networking platforms, such as Instagram or Facebook, and which make it easier to pay without having to leave the app.

Biometric payments

Paying using fingerprint or facial recognition is no longer just a science fiction resource. However, its use is still quite a long way from becoming widespread, as 61% of users do not trust its security.

Instalment payments

The familiar payment by instalment is undergoing a revival thanks to advances in machine learning, which allow for the analysis of an applicant's financial risk and therefore deciding which loan or instalment payment is best suited to him or her. This system is still widely used for purchases of products or services that involve a large investment.


Loyalty cards can also serve as a complement to payment systems, as they promote the use of a brand. An example is the Daily Cash system, launched by Apple in the summer of 2019, which applies to shoppers using its card. 

More tips? Loyalty-building strategies for your business


This is still a controversial subject, but as of March 2019 there were almost 35 million blockchain users. Bitcoin was the pioneering system, which set in motion a period of bans and strict regulations. The future looks brighter for crypto currency, since Facebook announced the launch of its own currency, the Libra by 2020. JP Morgan Chase have also just released their own JPM Coin; and some systems, like Rakuten Wallet’s mobile app will accept spot trading on crypto currency.

Paying from your car

Connecting cars to a payment system is a 230 billion US dollar opportunity. As cars get smarter and automatic driving options develop, there’s a growing advantage in paying for fuel, energy, parking, tolls or shopping from the car itself.

The 8 best payment systems for online shops


Best online payment systems



PayPal is the most widely used online payment method worldwide, and websites that include it at checkout have an 82% higher conversion rate. Its platform provides many facilities for incorporating it into any online store. On many platforms like Magento you can find free PayPal connectors.


Online payment ecommerce


Apple Pay

Apple Pay is the second most popular digital payment system, and more and more banks are allowing their users to link their cards. In the US market it has become the main method, with 54% of the online payment market.


Payment systems online store



Stripe is a very popular method for setting up checkout processes in online stores. You only have to incorporate it into the ecommerce platform you’re already using. It’s versatile, customizable and compatible with most bank cards and e-wallets on the market.

Square is another widely used system. Although it is usually associated more with physical stores, it also includes integration for ecommerce.


How pay online store


Google Pay

The Internet giant couldn't resist adding itself to the list, and Google launched Google Pay as its own payment option in online stores, mobile apps and physical stores. Its integration in any ecommerce is very easy through API, and it’s a popular system among users of Android devices.


Ecommerce payment integration



Masterpass is MasterCard's electronic payment system, although it’s only useful for users of this type of card. It’s quite advantageous, as it doesn’t take any commissions and increases the security of the payment process.


What is online payment system


Visa Checkout

Like the previous item, Visa Checkout is a payment system developed by Visa for ecommerce companies who want to speed up the process for Visa card users.


Types online payment systems


Amazon Pay

The Amazon Pay button doesn’t only apply to marketplace products: it’s a payment option that Amazon offers to businesses to enable buyers to pay from their Amazon account (where bank card details can be stored). Amazon marketplace claims this is one of the methods most trusted by consumers, and in addition guarantees its integration with Alexa voice assistants.


Top payment methods online store


American Express

American Express is quite unfamiliar to the European customer but very popular on other continents, with a high satisfaction rate. It provides service in more than 170 countries, although its fees are rather expensive for ecommerce businesses.


The enormous variety of payment methods for businesses and ecommerce indicates the importance of developing an all-channel strategy in this area as well.

The most competitive feature of an online store is to provide the buyer with the convenience of choosing between a number of payment systems and being able to pay from any channel. The fact that these systems are secure and have certificates of trust is another essential factor.

Investment in online payment methods can be demoralizing at first, because of the commissions imposed and the technological connections that you must implement. But the results will show positive in the short term, with more conversions and greater customer diversity. Invest in those that are most used by your clientele and type of audience, and focus on what matters: offering good quality products that everyone will want to spend money on.


How to integrate PIM and Magento

Related articles

Green world map with flags
Sales Tips

How to Do International Market Segmentation in a Marketplace

Tailor your international content and strategy on marketplaces according to your target segment.

Butler removing the lid from a tray
Sales Tips

Is After-sales Service Important in eCommerce?

How to offer an excellent ecommerce after-sales service and follow up for your customers.

A physical shop and an Amazon shop with an interrogation mark
Sales Tips

Differences between an eCommerce Store and a Marketplace

Is it better to sell products in your own online shop or on marketplaces?

Subscribe to our newsletter
Get all the latest news and trends about product experience direct to your inbox.