article thumbnail

2024 Payment Methods Report: Overview, Insights, and Statistics

Clearly Payments

Regional Penetration : In North America, over 70% of online purchases are made via credit cards, while only 10% of European consumers prefer this method. Growth Trends : Despite the rise of alternative payment methods, credit card transactions continue to grow in sectors like travel, accounting for 60% of all travel bookings globally.

article thumbnail

Statistics on How Much Merchants Pay for Payment Processing in 2024

Clearly Payments

Additionally, the use of alternative payment methods like mobile wallets (e.g., Alipay, WeChat Pay) and bank transfers is prevalent, which can sometimes result in lower fees compared to traditional card payments. Additionally, the growing use of alternative payment methods, such as local digital wallets (e.g.,

Process 104
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Taking AI Beyond Fraud Prevention And Into The Realm Of Smart Payments Routing

PYMNTS

Ranta noted that new payment rails are taking root in the States and abroad, with announcements like The Clearing House ’s RTP system. Consider the fact that just a few years ago, alternative payment rails Zelle and Venmo didn’t even exist.

article thumbnail

Real Time Heats Up In B2B, While Blockchain Gains Traction

PYMNTS

While Track supports a range of payment rails, Transcard highlighted its support of the RTP network as a key value proposition within the context of B2B eCommerce. One of the latest adopters of Mastercard's Track solution is Transcard , which announced its A2A capabilities wielding Mastercard technology.

B2B 104
article thumbnail

Westlake Financial Securely Raises The Speed Limit For Auto Financing Disbursements

PYMNTS

Many consumers are therefore eager for auto financing to be as swift as possible, and companies like auto financing provider Westlake Financial see disbursements delivered over the RTP® network as the future of the industry. The RTP network is a powerful tool, but any tool must be wielded properly to have its desired effect.

RTP 56
article thumbnail

Graduating To Faster Payments

PYMNTS

Fiserv’s Digital Payments SDK is ideal for Bursari , with a suite of customizable APIs, eChecking and “bank-grade risk and fraud capabilities for money movement.” The excitement around real-time payments (RTP) in the education space revolves around peace of mind for families, with greater efficiency and even profitability for institutions.

article thumbnail

Mastering payment orchestration: The forex industry’s key to growth

The Payments Association

Competitive edge: Innovations in payment solutions One of the biggest advantages of a payment orchestration platform is its ability to integrate various payment methods, including alternative payment methods (APMs) and cryptocurrencies.