What is the most popular payment method?

When you’re setting up a website or online store, it’s important to consider the type of payment you want to accept. Global ACH, PayPal, Stripe, and Credit cards are all viable options, and each has their own advantages and disadvantages. In this article, we’ll discuss the three most popular payment methods used by online stores. 

Global ACH

ACH payments, also known as electronic checks, are among the most common and widely used methods of payments. They are a popular choice among small businesses, as they are more affordable than wire transfers, require no checkbook or other forms of paper money, and are safe and secure. Moreover, ACH payments are recommended for repeat, high-volume, low-dollar transactions. During the devastating pandemic, the ACH network was a lifeline, allowing payments to be sent and received securely and quickly.

While ACH payments are the most popular, prepaid cards have limited market penetration, comprising only one percent of eCommerce transactions globally. Prepaid cards are especially popular in the gaming industry, where the audience is more likely to be young. However, the payment methods available for prepaid cards are becoming increasingly diverse. Another popular form of online payment, regulated by ACH, is the e-check. ACH e-checks let users authorize payments from their internet bank accounts. Although e-check processing is similar to that of regular paper checks, it is faster and more convenient.


When it comes to paying for video games, most people opt for PayPal. The service is fast, secure, and works across the top gaming platforms, making it easier than ever to pay for your favorite games. With collaborations with Twitch, Fortnite, and other gaming brands, PayPal is a popular choice for gamers everywhere. Its compatibility with eSports systems makes it the perfect payment solution for players from around the world.

Credit cards

Although credit cards are the most common payment method, consumers tend to spend more when using them than with cash. In fact, 40% of American households carry at least some credit card debt. Credit card debt typically has high interest rates, so the overall debt repayment amount will be higher than with cash. Credit cards are a useful tool to have, but consumers should only use them if they can control their spending and discipline themselves to pay off their balances in full each month.

Despite the increasing popularity of eWallets and digital wallets, credit cards remain the most popular payment method. During the first quarter of 2018, cards represented 41% of all eCommerce transactions. These numbers are even higher in countries with longstanding eCommerce traditions. In part, this popularity is attributed to protection features. Payment processors have put in place security measures and compliance standards, which ensure the safety of card transactions. In addition, prepaid cards are preferred by unbanked consumers and minors, which means that a consumer can easily use one of these payment methods when making a purchase online.


eWallets are digital wallets that store customer details and funds. These wallets replace credit cards and debit cards in many ways. Instead of entering in a bank account number, consumers are redirected to a website that allows them to sign in using a username and password. Most popular digital wallets include PayPal, AliPay, ApplePay, and WeChat. They work in combination with mobile wallets and biometric options on smartphones to ensure faster and more secure transaction processing.

The use of eWallets is becoming more widespread as consumers increasingly shop online and use their phones to pay for their purchases. Not only are they convenient online, but they can also provide valuable convenience when buying goods in stores. Many eWallets use near-field communication technology, allowing consumers to check out without having to touch a payment terminal or hand over cash. In the post-pandemic age of cash shortages and cyberattacks, this convenience can be of great value. In fact, 60% of consumers are planning to use digital payment methods in the future.


Consumers use cash more frequently for a variety of transactions, including paying for goods and services, gifts, and P2P transfers. While this trend is declining, consumers are still making 30% of their payments with cash. Cash is also the most common payment method for in-person transactions, as approximately three-quarters of all payments are done in-person, and ninety-percent of all payments are not bills.