04 October, 2023
En este artículo:
In the digital era, the way we manage our money is undergoing a fundamental change. The recent survey "New habits in payment methods in Spain 2023", which we launched a few months ago fromPaynoPain, as experts in payment methods, has shed light on how Spaniards are evolving in their payment preferences. Below, we will analyze some key findings of this revealing study:
Our study reveals that the shift we have been perceiving in recent years towards digital and contactless payment trends is becoming more and more accentuated.
On a day-to-day basis, the favorite payment method of those surveyed to make payments is the card with almost 60%, 60%followed by payment through wallets such as Apple Pay or Google Pay with more than 25%,thus covering 85% of respondents. In third place, with 12% is cash.
On the other hand, 80.7% of respondents say that they carry some cash in their wallet, but the amount would not exceed 10 euros. In addition, 55% of respondents saythey arely make cash payments in physical stores. This shift marks a clear trend towards the convenience and security of cards at the expense of cash.
During their travels, 87,6% of Spaniards also prefer to use credit and/or debit card,significantly surpassing cash, which is only chosen by 20%. In addition, almost half of respondents (46%) say they use services such as Apple Pay or Google Pay during their travels, demonstrating the convenience of mobile payments everywhere.
In addition, during stays abroad, 66.5% of travelers say they prefer to use their bank cards, followed by 18.5% who opt to use a neo-bank card, such as Revolut or N26, which allow them to control currency exchanges during their stay abroad.
The results also show that Spaniards place a high value on the security of their transactions. A total of 59,4% of respondents consider payment security to be of the utmost importance, outweighing other aspects such as additional bank costs and overspending.
Furthermore, according to the study, 38,6% of Spaniards have fallen into the networks of cybercriminals, while 38.1% have avoided it, but have suffered "some attempt". In other words, only 4 out of 10 people have been able to live with peace of mind when paying online. This underscores the urgent need for merchants to offer a secure payment experience to maintain consumer confidence and ensure worry-free transactions in the digital age.
Over the past few years we have observed that e-commerce is steadily growing, and this study reinforces that trend.64% of respondents prefer to buy fashion and accessories online, surpassing even travel and accommodation by two percentage points. This data underscores the importance of the retail sector in today's digital economy. E-commerce has become a determining factor for business growth, and Spanish consumers have embraced it significantly.
Cell phones are changing the way we make payments According to the survey, a staggering 78,1%of respondentshave made at least one payment via their cell phone. Not only that, but a third of respondents prefer this payment method when making purchases in physical establishments.
In terms of sectors,food and supermarkets lead in mobile payments (68.5%), followed by hotels and restaurants (60.3%), and fashion and accessories (45.7%).
In summary, the recent survey launched by PaynoPain indicates a clear trend among users to embrace convenience and security in the most modern payment methods. Credit/debit cards and smartphones are gradually displacing cash, while the security of the payment system is becoming more and more important. E-commerce is flourishing, especially in the retail sector, underlining the importance of digitalization in business.
According to users' own forecasts for the future, almost 52% are betting on biometric payments such as face, iris or fingerprint as the payment method of the future, followed by smartphone payments or digital wallets, which are already a reality. The future of payments in Spain seems to be strongly rooted in convenience and technology.
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