Digital payment trends differ greatly by market and by sector when it comes to such things as payment frustrations, the types of devices used to download and access content, payment types, and subscription preferences. To make sense of these trends, Worldpay, a global leader in payment processing technology and solutions for online businesses, and a sponsor of our upcoming Subscribed ‘16 conference, has made available the results of their survey of over 10,000 global digital consumers. You can access the results and customize your free report here.
Register now for Subscribed ‘16 (April 12 -13, 2016 in San Francisco) the only conference dedicated to the subscription economy, where you’ll get to network with and meet subscription economy leaders, like Worldpay.
From the US to South Korea, from video games to software, you can see global digital payment trends in the ways that consumers purchase digital content – which has deep implications for international businesses, or those looking to expand internationally. Since the subscription economy is all about managing the subscriber relationship, insight into your subscribers’ purchasing preferences is key.
Worldpay surveyed folks from all around the world to better understand their online buying experiences – what they don’t like, what they find challenging, etc. Savvy businesses will be attuned to these purchasing preferences and use this information to create a better customer experience, e.g. supporting the most popular payment gateways for particular countries and designing a product catalog that provides pricing and packaging flexibility to align with subscriber’s regional preferences.
Here’s a small snapshot of some of the fascinating digital payment trend information revealed in this survey:
UK Digital Payment Trends
In the UK when it comes to purchasing digital content
- When buying via mobile, e-wallets (24%) come second only to debit cards (31%)
- Brits are much more likely to use a credit card on a PC (32%) than on a mobile device (16%)
- British tablets see almost as many e-wallets (23%) as credit cards (24%)
China Digital Payment Trends
In China, when it comes to purchasing software:
- Chinese people are more likely to store (47%) and use (51%) than buy (37%) digital content on smartphones
- Two-thirds of Chinese respondents bought digital content on their own PC or laptop in the last year
- When buying apps in China, one-off payments are twice as popular as subscriptions (55% vs 25%)
India Digital Payment Trends
In the Indian market, in the Entertainment and Media sector:
- One in four Indians hate it when payment pages time out – more than any other country.
- They also find pop-up payment windows and redirection frustrating (37%)
- And about a third of Indians (31%) are frustrated by additional fees added during the checkout process
Download Worldpay’s digital payment trend report. And check out Global Content Subscription Insights from Worldpay, which includes highlights from Ieuan Owen’s, Worldpay Senior Vice President of Global Strategy, presentation at Subscribed London last year.
Register now for Subscribed ‘16 (April 12 -13, 2016 in San Francisco) – register before March 28th for our BOGO offer: purchase one ticket for $399, get one for your colleague for no additional cost using promo code ZUORA241
Questions about global payment trends? Let us know in comments below.