The decline of credit cards
Why alternative payments are taking over
Credit cards have traditionally been the “go-to” payment method for online purchases. However, fears over identity theft and dissatisfaction with the “buy now, pay later” model have an increasing number of people turning away from online purchases that require payment with a credit card. Already, 41% of online consumers prefer alternative payment options over credit cards.
The increasing number of alternative secure payment options may be causing experienced online shoppers to jump the credit card ship, but new shoppers who previously refused to use credit cards online are now poised to enter the market, creating a new opportunity for online merchants. This report outlines the factors online merchants need to consider when accepting payments online.
“The decline of credit cards” discusses:
- Trends around credit card usage
- Fraud as a factor in consumer payment preferences
- Global payment trends
- Popular alternatives to credit cards
Topics include:
Credit card payments online, financial markets payments, online eWallet, online merchant processing, payment gateway service, e-commerce security, secure online payments, fraud protection, debit cards, online bank transfers, internet banking, global payments.
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