63% of Spaniards would increase their online shopping if the payment process were simplified
- International payments and sending money abroad
- Brick-and-mortar establishments: convenience above all else
- Open banking and multi-banking: growing trends
63% of consumers consider it essential to simplify the online purchasing process in order to increase their activity. This conclusion is part of the report ‘Users’ payment behaviour and preferences’, prepared by Visa and Pecunpay in collaboration with Ditrendia.
The study analyses how consumers choose and use payment methods in different contexts: e-commerce, international travel, sending money abroad, payments in physical establishments and their relationship with financial institutions.
In the field of e-commerce, 67% of users highlight the value of one-click payments, which combine convenience and security, two of the aspects most demanded by digital consumers. Solutions such as Visa's Click to Pay eliminate the need to manually enter payment details for each purchase, significantly improving the user experience and promoting higher conversion rates for retailers.
According to Eduardo Prieto, CEO of Visa in Spain: ‘Simplifying the purchasing process not only improves the user experience, but also reduces shopping cart abandonment and can help businesses increase their turnover. Our analysis confirms that, in an increasingly digital world, innovation in payments is key to accelerating the growth of e-commerce, strengthening consumer confidence and creating an environment conducive to business growth’.
In the words of Enrique Álvarez, CEO of Pecunpay: ‘The pace at which users’ payment preferences and behaviours are changing means that we always have to be at the forefront of payment service innovation to offer agile products adapted to consumer needs, both in physical and digital channels. As we have been able to confirm in this study, the consumer sets the standard, and we, as specialised companies, must be aligned with their expectations in order to build an efficient payment ecosystem that is increasingly connected globally’.
International payments and sending money abroad
The study also reveals that cards have become the preferred method for making payments abroad, with 76% of consumers opting for this solution due to its convenience and security. This method avoids the need to handle cash and exchange currency, offering a practical and reliable option at any destination.
When it comes to sending money abroad, digital platforms and neobanks are the preferred option for 62% of users, compared to 41% who still resort to traditional bank transfers. Consumers prioritise speed (59%), transparency in processes (57%) and low fees (50%) as key factors in fully trusting these services. Innovations such as Visa Direct, which allows real-time money transfers to more than 90 countries, respond to these demands and strengthen trust in digital solutions.
Brick-and-mortar establishments: convenience above all else
In physical commerce, cards are the predominant digital payment method, with 95% of consumers using them in their daily transactions. This method reflects confidence in its security, especially for larger payments, while cash is still relevant for small transactions or in specific contexts, such as local markets.
71% of consumers value convenience as the most important aspect when choosing a payment method in physical establishments. This highlights the need for retailers worldwide to implement quick and easy solutions, such as contactless payments, which allow for agile transactions without compromising security.
Open banking and multi-banking: growing trends
The report also highlights the growing digitisation of relationships with financial institutions. Mobile banking is consolidating its position as the most widely used channel for banking transactions, with 82% of users resorting to applications as opposed to other methods such as the web (40%), ATMs (34%) or traditional branches (29%).
Furthermore, the phenomenon of multi-banking continues to grow, with 57% of consumers managing accounts in two or more banks. Solutions such as open banking are gaining popularity, with 42% of users already using them to centralise the management of their finances in one place. These tools represent a key opportunity for financial institutions to collaborate in the development of integrated solutions that strengthen loyalty and improve the customer experience, offering greater convenience and practicality.
You can access the full report here
*The case studies, statistics, research and recommendations are provided ‘AS IS’ and are intended for informational purposes only, and should not be used as operational, marketing, legal, technical, tax, financial or other advice. Visa Inc. does not guarantee the completeness or accuracy of the information contained herein, nor does it assume any liability that may arise from reliance on such information. The information contained in this document is not intended to be legal advice, and readers are therefore advised to seek appropriate legal advice where required.
