With a growing eCommerce market, businesses using the top payment methods in Spain will gain an edge in Spain and improve their global presence too.

This report covers 2021. Looking for the most recent data? Read our latest report. 

Spain has one of the biggest economies in the EU and at a projected 12.6 percent CAGR has the highest growth expectations in Europe overall (J.P. Morgan 2021). And with a projected market volume of US$35,502 million by 2025, the country is poised to remain a top player in the global eCommerce market. (Statista) 

Top Spanish Payment Methods

  • Credit and Debit Cards: Among the most popular of Spain’s payment methods, cards presently make up 53% of total eCommerce purchases in the country (Statista, 2021). The most popular card issuers in Spain are Visa and MasterCard for consumers. Cards also lead the way for B2B payments in Spain. Nearly half of all eCommerce payments in Spain are done via credit card, but that is expected to decline just under 30% over the next five years as digital wallets and other payment methods gain ground (J.P.Morgan, 2021).


  • Digital Wallets: Digital wallets are increasingly the most popular choice for payment methods in Spain, with 200M people using digital wallets all across Western Europe (Globe Newswire, 2021). Over 97% of people aged 19-24 in Spain are online, and as they enter the marketplace, they are interested in online payment methods primarily via app (Edwards, 2021). Paypal is the most popular digital wallet in Spain at the moment. Digital wallet use is expected to keep growing at a CAGR of 35 percent until 2022. (J.P. Morgan)


  • Bank Transfers: Many businesses in the Spanish market have popularized bank transfer as a payment method. Because bank transfers are direct, it is attractive to merchants who want their payments guaranteed and secure. It also helps to serve those without major debit or credit cards and makes payment processing time go much quicker. Trustly is a popular payment method for online banking payments. There are also many money transfer apps that are very specific to Spain, like Bizum and Teleingreso. 


  • Buy Now, Pay Later: Banks and ecommerce sites have started offering Buy Now Pay Later options like Klarna as a way to capture the rapidly growing segment and to appeal to new users. With no interest charged for on-time payments by many of the BNPL platforms, people without credit cards can make purchases from a business and pay in installments.  BNPL lets businesses maintain better checkout rates and customer retention.

Learn more about Rapyd’s Payments Solutions in Spain. See Why We Are The Fastest Way to Access and Offer Spain’s Top Payment Methods.

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The Playbook for the New Era of Digital Commerce

Created using data from a Forrester Consumer Technographics® Survey, this playbook uncovers how global consumer behavior is changing and identifies new digital trends and behaviors. 

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Support the Top Spanish Payment Methods in a Rapidly Changing Landscape

In Spain, the number of eCommerce users is expected to keep growing to 37 million users by 2025. And because 48% of the Spanish population has yet to make their first online purchase, ecommerce only has room for continued growth in Spain. (J.P.Morgan, 2021). For merchants who wish to conduct global transactions, Spain is a country that can’t be ignored.  

Increasingly, the people of Spain are relying on digital payment methods to make their purchases. This makes accommodating all of their preferred payment methods incredibly important for organizations doing business in the country.

A one-size-all approach will not work when doing business in Spain. There is ample opportunity for merchants to capture customer business if they have all of the right payment options available to them. 

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Payment Methods for Spain

Rapyd is the Fastest and Easiest Way to Accept Cards and Offer More Spanish Payment Methods that Customers Demand.

Reach new customers and grow revenue with a single platform that provides a truly local payment experience in Spain and around the world. Rapyd provides deep local payment expertise in Spain and manages infrastructure, licensing, and compliance so you can focus on growing your business.

  • Local payment methods including cards, bank transfers, and cash
  • Accept payments and make payouts in 100+ countries
  • Online, in-store and mobile app payments
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Alternative Payments. SPAIN’S POPULAR PAYMENT METHOD. https://www.alternativepayments.com/payment-methods/Teleingreso.html

ECommerceDB. The eCommerce market in Spain. https://ecommercedb.com/en/markets/es/all

Edwards, Kinga (2021). European Ecommerce Overview: Spain. ECommerce Germany News.https://ecommercegermany.com/blog/european-ecommerce-overview-spain

European Payments Council. Bizum: The Spanish instant mobile payment solution. https://www.europeanpaymentscouncil.eu/news-insights/insight/bizum-spanish-instant-mobile-payment-solution

Gloe Newswire. (08 July 2021). Boku Study: More than half the world’s population will use mobile wallets by 2025. https://www.globenewswire.com/en/news-release/2021/07/08/2259605/0/en/Study-More-than-half-of-the-world-s-population-will-use-mobile-wallets-by-2025.html 

Ikajo. What is SafetyPay. https://ikajo.com/payment-methods/what-is-safetypay

J.P. Morgan. (2021). 2020 E-commerce Payments Trends Report: Spain. https://www.jpmorgan.com/merchant-services/insights/reports/spain-2020

Klarna. (2021). Klarna for Business. https://www.klarna.com/ie/business/

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