Spain's essential payment methods

Spain

General Information

Population 46.8m
Population 15 + 40.5m
Online Population 42.5m
Area 505,990 km²
Currency EUR
GDP 1,278.2bn USD
GDP per Capita 27,132 USD

Card-based payments
Cash-based payments
Bank transfer
Wallets
Other

[{"label":"Card-based payments","value":"41"},{"label":"Cash-based payments","value":"4"},{"label":"Bank transfer","value":"14"},{"label":"Wallets","value":"30"},{"label":"Other","value":"11"}]

Banked population

Spain 94%
Western & Central Europe 94%
World 67%

Credit card penetration

Spain 54%
Western & Central Europe 46%
World 19%

Internet penetration

Spain 91%
Western & Central Europe 91%
World 62%

Smartphone penetration

Spain 84%
Western & Central Europe 75%
World 70%

33% of Spaniards say they shop at particular marketplaces because they had previous good experiences with it, followed by good reviews (20 %) and recommendations from friends or family (17 %).

In 2020 only 53% of Spaniards had bought online. But this number is expected to grow as well known Spanish retailers, like Inditex, move online.

Spain’s economy dropped by 11% in 2020 but is forecast to grow by 6.4% in 2021 and 4.7% in 2022 according to the IMF. Inflation fell in 2020 by 0.3% but is expected to rise by 1% in 2021 and by 1.3% in 2022.

Future e-commerce trends (2021-2025)

E-Commerce market size forecast ($US billion)

2021 66.3

2022 73.7

2023 85.2

2024 95.8

2025 105.9

E-Commerce spending per capita ($US)

2021 1384

2022 1532

2023 1765

2024 1979

2025 2184

E-Commerce spending as % of GDP

2021 4.6

2022 4.8

2023 5.3

2024 5.7

2025 6.1

Spain

The E-Commerce Market

Top e-commerce segments 2019 | 2020

Airlines & Hotels: 58% | 36%
Health & Beauty: 11% | 18%
Electrical Goods: 12% | 15%
Food & Drink: 5% | 10%
Toys, DIY, & Hobbies: 7% | 10%

Cross-border e-commerce

Cross-border proportion of total e-commerce – 16%
Value of cross-border e-commerce ($US billion) – 9.7
% of online shoppers who have shopped cross-border – 61%

Top 3 cross-border shopping origin markets

China: 50%
UK: 11%
Germany: 8%

E-commerce % of total retail

Spain 13%
Western & Central Europe 17.6%
World 20%

E-commerce completed on a mobile device

Spain 46%
Western & Central Europe 43%
World 53%

The Credit Card Split

Visa
Mastercard
Other

[{"label":"Visa","value":"73"},{"label":"Mastercard","value":"26"},{"label":"Other","value":"1"}]

E-commerce market size ($US billion) 62.4bn USD
E-Commerce spending per capita ($US) 1,310 USD
E-commerce spending as % of GDP 4.7%

_{The information on our Insights pages has been compiled by us in cooperation with Datamatics and Wright & Brown. The data shown is partially owned by us and partially owned by GlobalData. © 2021 by PPRO Financial Ltd. No data and information can be used for any further publication without the explicit approval of PPRO.}

Spain

Local Payment Methods

BitPay

Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Hyperwallet

Type Bank transfer, Gift card, Prepaid voucher Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High PayPal

Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High PaysafeCard

Type Prepaid voucher Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High PaysafeCash

Type Cash Regions Eastern Europe & the CIS, North America + 1 Paysera Wallet

Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High SEPA Direct Debit

Type Bank transfer Regions Eastern Europe & the CIS, Western & Central Europe Market relevance High Skrill

Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Trustly

Type Bank transfer Regions Eastern Europe & the CIS, North America + 1 Market relevance High TrustPay