Shopping online has become part of everyday life. From your phone, on the subway, on the way to work, before going to sleep… For years now, you don’t need to go to a store to decide on a product, just click and it’s on its way to your home.

But there is still a key moment that makes the difference: the payment.

It doesn’t matter how well you’ve done up to that point. If the customer doesn’t find their preferred way to pay — the one they trust, the one they always use, the one that feels easiest — the purchase may not be completed.

That’s why knowing the main online payment methods is a way of taking care of your customers.

In this post, we’ll go through some of the options that work best today in the digital world.

And the best payment method is…

There isn’t a single payment method that is superior to all others. Market segments and target audiences differ for every business. Millennials, for example, often accept certain payment methods simply because they are widely available, even if they aren’t their preferred choice.

For audiences aged over 60, the reality is different. Even though digital adoption has grown substantially, this group still prefers the familiarity and trust of methods like bank transfers and especially credit cards.

When deciding which online payment method fits your audience best, it’s not about superiority. The right approach is to evaluate alternatives based on three main criteria:

• adaptability: the customer should be able to pay wherever they are, without obstacles;

• security: with authentication that makes the process both simple and safe;

• trust and convenience: removing unnecessary steps and enhancing the payment experience, backed by the reliability of traditional financial institutions.

Credit and debit cards

Cards are the most traditional online payment method worldwide after cash. According to the European Central Bank, card payments represented 54% of all digital transactions in the euro area in 2023 — a significant figure considering the variety of payment methods available.

Credit and debit cards (Visa, MasterCard, American Express, etc.) remain a benchmark thanks to consumer trust and the ease they bring to a simple checkout process.

To offer card payments, merchants need to connect with a payment processor or PSP. This provider validates the cards, processes each transaction, and transfers the amount to your account.

Some merchants work with a single PSP, while others prefer to connect with several to expand coverage or improve conversion. With platforms like Zru, this can be done from a single dashboard, integrating multiple providers while staying in control.

Advantages:

• Payments are immediate.

• Extremely high acceptance among customers.

Bank transfer

A simple payment method backed by traditional banks, since it relies directly on them.

It is particularly useful for high-value baskets, where paying by card can be complicated due to transaction limits.

The payment is made directly from one bank account to another, so no integration with a payment method is required.

The main drawback is that transfers can take more than 24 hours to process, which may frustrate customers depending on their expectations. Deliveries are also delayed until the payment is received.

Payment initiation

Payment initiation is an alternative to traditional bank transfers, allowing merchants to collect directly from a customer’s account but instantly and with real-time confirmation.

It is also backed by financial institutions but uses the European PSD2 directive to make the process faster and more secure.

As with traditional transfers, money moves directly between accounts, which is especially useful for high-value purchases where cards may have limits.

The main advantages compared to traditional transfers are:

• Immediacy: no waiting over 24 hours, the merchant receives confirmation right away, improving the customer experience and avoiding delivery delays.

• Simplicity: the buyer doesn’t need to log into their bank or manually enter details. Everything happens quickly and securely at checkout.

In Spain and Portugal, one example is Transferencia Online. The merchant connects directly to this solution (or through an aggregator like Zru), and customers authorize the payment securely with just a few clicks.

Installment payments

Installment payments allow customers to split their basket into multiple payments instead of paying it all at once. This is especially useful for medium to high amounts and improves conversion by offering a more flexible option. For merchants, it also helps increase the average order value.

There are two main ways to offer it:

• Through financial institutions that provide consumer credit with more flexibility than traditional banks.

• Directly at checkout (also known as Buy Now, Pay Later or BNPL), where the customer divides the total into monthly payments without complex validation. In Spain, this type of solution is offered by companies like SeQura, Klarna, or Pepper.

Digital wallets

Digital wallets (or e-wallets) are apps that store cards and allow payments from a digital device without needing the physical card.

For customers, the process is simple: choose the wallet and confirm the payment.

The most common wallets in Spain are:

• PayPal

• Apple Pay

• Google Pay

Apple Pay and Google Pay let customers complete a purchase with one click, authenticating by fingerprint or facial recognition. For merchants, it requires integration (or using a platform like Zru). It’s also important to have a virtual POS that processes card payments through Apple Pay and Google Pay, since they are not card processors themselves. There is no additional cost for merchants (the cost is from the card processor, not the wallet).

PayPal remains a preferred choice for many shoppers, especially those who don’t want to share card details with the merchant. For merchants, however, fees can be higher.

Other wallets like Amazon Pay, Samsung Pay, WeChat Pay, or Alipay are less common in Spain but highly relevant in other markets, particularly in Asia or the US.

In short, the main advantage of digital wallets is convenience for the customer. For merchants, they reduce friction at checkout and improve conversion.

If you’d like to know more about e-wallets, we recommend this post: What is a digital wallet or e-wallet?

Peer-to-peer payments (P2P)

Peer-to-peer payments (P2P) let two people send money to each other, usually from a mobile phone, without needing a bank transfer.

Behind the scenes, these apps connect to a network of banks (usually at national level), enabling instant payments.

In Spain, the most common option is Bizum, integrated with most banks. In other countries, there are other solutions, such as Twint in Switzerland.

Interestingly, some P2P solutions are now used in commerce. Bizum, for example, can be used to pay in many online and physical stores.
To accept Bizum online, a merchant needs a virtual POS that includes it and must integrate it.

For customers, it’s fast, convenient, and doesn’t require entering card details, which makes it feel secure.

Cryptocurrencies

To accept cryptocurrency payments (Bitcoin, Ethereum, etc.), merchants cannot use a standard virtual POS. Instead, they need a specific crypto payment gateway like BitPay or Coinbase.

These providers handle crypto payments and often allow merchants to choose whether to receive funds in cryptocurrency or convert them to fiat currency (euros or dollars).

Although crypto payments are still not widespread in Spanish e-commerce, it can make sense to add them if your audience is familiar with crypto or if you sell in markets where usage is higher.

Cash on delivery

With cash on delivery, the customer pays when they receive the order, not at the time of purchase. It reassures those who prefer not to pay online.

However, this option is increasingly less common, though it may still make sense depending on your audience

How to connect to payment methods?

Today, customers can pay in many ways: cards, Twint, e-wallets, cryptocurrencies, installments… For businesses, the key is how to coordinate all these options and turn them into efficient operations.

With Zru, you access everything from a single place and decide which methods to offer in each market or situation. You can compare different providers of the same payment type — for example, several card acquirers or different BNPL options — and activate or deactivate what you need in real time.

Everything is managed from one dashboard, giving you full visibility and complete control over your payment operations.

There is no single payment method that works for everyone. The real difference lies in offering variety, adapting to your customers’ habits, and giving them a smooth and secure process. With the right tools, you can also manage payments flexibly and efficiently, while staying in control of your business.

Want to start managing payments with Zru? Contact our team and we’ll guide you.