PayPal has overtaken credit cards as a preferred form of payment for consumers shopping on the Web, according to a survey of global shopping habits conducted by KPMG.
It will be interesting to see what happens to PayPal if a significant fee gap opens up between Card Not Present rates (for PayPal's card funded transactions) and NFC/'Secure Element' rates for online purchases from Mobile Wallets (e.g. Visa's mWallet of
Google's Wallet [now merged with Google Checkout]).
The online aspect of NFC/Secure Element seems under attended.
The statement '..... PayPal outstripping credit cards as a preferred form of payment for consumers in Europe and the Middle East.' is not that significant as most people in Europe don't use credit cards anyway. Using the ECB statistics for 2010 only about
7% of the card spend in Europe is on 'cards with a credit function' and it is less in the Euro area.
What would more interesting is where PayPal comes in the ranking compared to debit cards.
Andy this reminds a quote of Mark Twain "Facts are stubborn, but statistics are more pliable.
I wish to see the details of that survey :)
to £90k base, double OTELondon, UK
© Finextra Research 2014