Top 5 Payment Providers Offered by Serbian Online Stores 2023

Which Payment Method Dominates the eCommerce Market in Serbia in 2023?

In the Serbian eCommerce landscape of 2023, payment provider penetration showcases a clear hierarchy dominated by traditional card services. Cash on delivery emerges as the leading payment provider with an impressive penetration rate of 84.5%, indicating a strong preference for this method among Serbian consumers. VISA follows closely behind at 72.7%, highlighting the widespread acceptance of this global card service within the Serbian market. Mastercard also holds a significant presence with a penetration rate of 70.9%, reflecting the trust and popularity of this payment option among Serbian businesses and consumers. The presence of an unknown invoice provider at 66.4% suggests a reliance on local payment solutions tailored to meet specific national commerce needs. American Express trails with a penetration rate of 43.6%, indicating a growing shift towards alternative card providers in the Serbian eCommerce landscape. The data from 2023 underscores the evolving nature of digital payment landscapes, with traditional card services maintaining dominance while newer payment methods gain traction driven by consumer demand for convenience and innovation in payment technologies.

Main Facts: Dominant Payment Providers in Serbian eCommerce Market 2023

• Cash on delivery dominates the Serbian eCommerce market with an impressive 84.5% penetration rate in 2023.
• VISA and Mastercard follow closely behind with penetration rates of 72.7% and 70.9% respectively.
• Invoice payments by an unknown provider secure a significant 66.4% penetration, while American Express cards hold a 43.6% share in the market.