Cards in North America hold strong
North America, the birthplace of credit cards, still believes that they are the best way to pay online. Whether it’s stored on file or manually entered, the region’s preference lies in plastic. Storing cards on file with E-Commerce websites increases in popularity, used in nearly half of E-Commerce purchases in the U.S. All things considered, Cards are not only used on desktop for purchases, but also the most common way to pay in M-Commerce transactions.
Trust in cards is exemplified
Use of cards is not just a habit to North Americans, the sentiment holds that cards are the safest way to pay. The majority of Canadian online shoppers in 2018 believed that cards are the safest payment type for online purchases, up a significant percentage from 2017. Putting tradition aside, American innovation is changing the landscape, paving the way to digital wallets, proximity mobile payments, P2P payments, and smartwatch payments.
Digital wallets counter cards’ grasp on the payments market
Although cards consistently lead the region’s payment market, E-Wallets are being used more and more. Over a third of Americans and Canadians use digital wallets to pay online and these numbers are growing. People in North America are becoming increasingly comfortable using mobile wallets as they become less novelty and more commonplace.
Payment innovation in the U.S. is confronting North America’s plastic dynasty, but as for now, cards hold on to the people’s trust.
For more details on this trend, see the report “North America Online Payment Methods 2019” by yStats.com.