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Which payment methods are important in growth markets?

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Get informed about the most essential global and local payment methods around the world

Experienced online merchants know that offering the right payment methods in the right places is one of the most important keys to success when it comes to global business expansion.

 

The growth of e-commerce has created new and easier opportunities for businesses to enter new markets.  But there are still many important aspects of localization for merchants to consider, even when selling online.

 

And while factors like language and product specifications are often more obvious priorities, merchants must pay attention to the entire customer journey up to the point of checkout and beyond. The selection of online payment methods merchants offer can have a big influence on customer decision-making at checkout – and could be the difference between an abandoned cart and a successful conversion. At the same time, offering a wide variety of reliable global and local payment method options is one way that merchants can avoid misplaced fraud triggers and prevent declined payments.

 

Still, many of the most popular payment method preferences in local markets can often seem obscure and unknown to cross-border merchants. For merchants that aspire to sell globally, understanding payment choices in prospective markets is therefore a critical component to market research and preparation for international expansion.

 

What are some of the key payment methods in growth markets around the world?  Browse our new Payment Methods Encyclopedia below – and learn more about some of the most important ways that global customers like to pay for e-commerce goods and services.

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Click on the cards to visit the dedicated page for each payment method. New payment methods are added regularly.
Rapipago infographic PayU payment methods encyclopedia

Rapipago

Rapipago is one of Argentina’s most important alternative payment methods.

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Efecty infographic PayU payment methods encyclopedia

Efecty

Efecty is a nationwide cash voucher system for online purchases in Colombia.

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Naranja infographic PayU payment methods encyclopedia

Naranja

Naranja is a popular local credit card and instant payment app in Argentina.

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Fio Banka infographic PayU payment methods encyclopedia

Fio Banka

Fio Banka is a go-to option for customers paying via online bank transfer in the Czech Republic.

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UPT infographic PayU payment methods encyclopedia

Universal Payment Transfer (UPT)

UPT is Turkey’s first national global money transfer platform.

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Cencosud infographic PayU payment methods encyclopedia

Cencosud

Cencosud is a popular credit card used across Argentina, Brazil, Chile, Colombia, and Peru.

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Hipercard infographic PayU payment methods encyclopedia

Hipercard

Hipercard is a popular local credit and one of the most widespread payment methods in Brazil.

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Getin Bank infographic PayU payment methods encyclopedia

Getin Bank

Getin Bank is one of Poland’s leading options for payment via direct online bank transfer.

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ItzCash infographic PayU payment methods encyclopedia

ItzCash

ItzCash is one of India’s oldest alternative payment methods..

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Farmacias del Ahorro infographic PayU payment methods encyclopedia

Farmacias del Ahorro

Cash-based alternative payment method administered through a network of Mexican pharmacies.

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Banco de Bogotá infographic PayU payment methods encyclopedia

Banco de Bogotá

A cash payment method for online purchases available through Colombia’s oldest commercial bank.

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CSOB infographic PayU payment methods encyclopedia

CSOB

Leading Czech bank offering pre-filled direct bank transfer form as an online payment method.

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Pago Fácil infographic PayU payment methods encyclopedia

Pago Fácil

Pago Fácil is a popular cash-based alternative payment method in Argentina.

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Davivienda infographic PayU payment methods encyclopedia

Davivienda

Direct transfer and cash-based payment method available via a leading Colombian bank.

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Oxxo infographic PayU payment methods encyclopedia

Oxxo

Mexican convenient store offering the country’s leading cash-based alternative payment method.

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Oriental Bank infographic PayU payment methods encyclopedia

Oriental Bank

Indian payment method for completing e-commerce orders via online banking.

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Cordial infographic PayU payment methods encyclopedia

Cordial

Locally-branded Mastercard popular with e-commerce customers in Argentina.

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Cabal infographic PayU payment methods encyclopedia

Cabal

Popular local credit and debit card used across multiple Latin American markets.

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mBank infographic PayU payment methods encyclopedia

mBank

Poland’s first fully online bank is also a popular payment method for e-commerce orders.

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Payflex infographic PayU payment methods encyclopedia

Payflex

Leading Buy Now, Pay Later (BNPL) payment method available in South Africa.

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PhonePe infographic PayU payment methods encyclopedia

PhonePe

PhonePe is one of the leading digital wallets in the Indian market.

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Bancolombia infographic PayU payment methods encyclopedia

Bancolombia

Colombian bank and popular online payment method for paying via direct bank transfer.

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Bancolombia infographic PayU payment methods encyclopedia

IndusInd Bank

Indian bank with popular direct transfer payment method available via online banking.

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