Credit shy Spanish shoppers shun credit cards

Spanish consumers favor pre-paid alternatives to credit

1 Dec 2016

Madrid, 22nd November 2016 – Credit card use is on the decline in Spain, as millions of consumers abandon their plastic, new research by Worldpay has revealed. According to Worldpay’s Global Payments Report, the use of credit cards for online purchases will drop by 11% over the next five years. By 2020, just over one in 10 online purchases made by Spanish consumers will be bought using a credit card, compared to one in four today. 

Instead, more and more shoppers will opt for alternative payment methods (APMs), namely pre-paid debit cards when shopping online. Pre-paid alternatives offer greater control to consumers, and eliminate the risk of overspending. As uncertainty in the wider Spanish economy prevails, Worldpay predicts that the use of pre-paid card schemes such as Prepago will jump by 11%, accounting for one fifth of online purchases by 2020. 

Commenting on the findings, Ron Kalifa, Executive director at Worldpay said: “When consumers are confident about their financial situation and the wider economy, they feel more comfortable paying with credit. But the Spanish economy has struggled to return to growth since the 2008 crisis, which has made cautious consumers abandon the plastic to avoid taking on more personal debt.” 

The latest Global Payments Report suggests that worldwide, credit card use will also continue to decrease as more niche payment options, such as bank transfers and pre-paid schemes boom. In order to capitalise on the eCommerce opportunity, retailers will need to offer the right mix of payment methods, tailored to the needs of their target market. 

Kalifa added: “The rise of pre-paid cards in Spain highlights the importance of tailoring your offering to markets. This is particularly important with pre-paid card schemes, which may have different authorization procedures to standard debit or credit cards. Merchants who want to take advantage of this rising trend should work with a payment provider who can enable them to accept the payment methods most relevant in each market, for consumers today and tomorrow.”

For more information from the Global Payments Report, and to download a copy, visit:


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About the 2016 Global Payments Report

The 2016 Global Payments Report was compiled using a combination of Worldpay’s data and insights, external findings from Euromonitor, Datamonitor and, and secondary data from more than 100 independent sources. The forward-looking statements and figures contained in the report are indicative predictions based on Worldpay’s own data and experience and should be treated as such.

About Worldpay

Worldpay is a leading payments company with global reach. We provide an extensive range of technology-led payment products and services to over 400,000 customers, enabling their businesses to grow and prosper. We manage the increasing complexity of the payments landscape for our customers, allowing them to accept the widest range of payment types around the world. 
Using our network and technology, we are able to process payments from geographies covering 99% of global GDP, across 146 countries and 126 currencies. We help our customers to accept more than 300 different payment types, by providing an end-to-end service including acquiring, treasury, gateway, alternative payments and risk management, all via a single integration to Worldpay. We make payments simple for many of the world’s leading organisations.


The information set out in this press release is for information purposes only and based on Worldpay’s research. Worldpay accepts no liability for the content of this press release, or for the consequences of any actions taken on the basis of the information provided.

1 Dec 2016