What are the most popular payment methods around the world? Selecting a payment method on the cross-border e-commerce

Hello. My name is Ujita, and I am a consultant.
In addition to credit cards and cash, there are many other payment methods available abroad.
The following is a list of popular payment services in each country.

• Southeast Asia GrabPay (Malaysia, etc.), GoPay (Indonesia)
• India Paytm, UPI (BHIM, Google Pay, PhonePe, etc.)
• China Alipay, WeChat Pay
• South America Boleto (Brazil), Mercado Pago (Argentina, etc.)
• Russia Qiwi, Yandex.Money
• Africa Mobile payments (M-Pesa, etc.)

Some of the payment methods may be new to you.
Let's take a look at them in order!

Southeast Asia: GrabPay, GoPay

[GrabPay]
GrabPay is a digital wallet within Grab, a cab dispatch service operating mainly in Southeast Asia, that allows users to pay for Grab's services (ride-sharing, food delivery, etc.) as well as those of its partners' products and services. Users can link their bank accounts or credit/debit cards to GrabPay to make QR code in-store payments, online payments, and money transfers. In addition, a loyalty program called GrabRewards is offered, where users can earn points for using GrabPay.

[GoPay]
GoPay is a digital wallet within GoTo, a cab dispatch service operating mainly in Indonesia, GoPay can be used for various GoTo services (ride-sharing, food delivery, laundry service, etc.) as well as various transactions. Users can add funds to their GoPay wallet through bank transfers or direct deposits. They can also make utility payments, recharge their cell phones, and send money to other GoPay users through GoPay.

India: UPI, Paytm

[UPI]
UPI (Unified Payments Interface) is India's instant payment system. UPI links directly to your bank account and works seamlessly with multiple banks to send and receive money instantly, 24 hours a day. You can also scan QR codes to make payments. UPI integrates with many Indian banks and digital wallets, especially leading digital wallets like Paytm and PhonePe.

[Paytm]
Paytm is a very popular digital payment platform in India used for mobile payments, online shopping, and various utility payments. Users can link their bank accounts to Paytm or load funds directly into a digital wallet, allowing them to make in-store payments using QR codes, make online purchases, pay utility bills such as electricity and water bills, and send money to other Paytm users. Paytm will also be able to offer a variety of services to its users, including movie tickets. Paytm also offers a variety of other services such as movie tickets, plane reservations, and even cell phone recharge.

China: Alipay, WeChat Pay

[Alipay]
Alipay is one of China's most popular digital payment platforms and is part of the Alibaba Group. Users can link their bank accounts to their Alipay accounts to make online and offline payments for goods and services, utility payments, and money transfers. Alipay also offers financial services such as loans, investments, and insurance.

[WeChat Pay]
WeChat Pay is a digital payment service that can be used inside WeChat, China's leading social media platform. By linking their bank account or credit card to their WeChat account, users can use QR codes to pay for goods and services online or offline, or send money to other users. WeChat Pay also supports utility payments and other financial services.

South America: Boleto,Mercado Pago

[Boleto]
Boleto is a payment method very widely used in Brazil and means "ticket". It generates paper or digital bar-coded coupons that can be used to pay at banks, ATMs, Internet banking, or retail outlets. Since about 55 million people in Brazil do not have bank accounts and many are very hesitant to pay digitally, Boleto is a "ticket," so to speak, like a prepaid card, which many people can use with confidence. This makes it an accessible payment method for those who do not have bank accounts or do not want to share their card information online.
Boleto was launched in 1993 and is now available in more than 40,000 stores throughout Brazil.

[Mercado Pago]
Mercado Pago is one of the few app payments used in Mexico and throughout South America, where cash payments are the norm. It supports a variety of payment methods, including credit cards, debit cards, bank transfers, and the aforementioned Boleto. It also supports a variety of payment needs, from online shopping payments to utility payments to cell phone recharge.

Russia: Qiwi, Yandex.Money

[Qiwi]
Qiwi is a popular electronic payment system in Russia, the core of which is a digital wallet called Qiwi Wallet, which allows users to pay for online shopping, pay utilities, recharge their cell phones, and send money to other users. Qiwi Wallet allows users to make online shopping payments, utility payments, mobile phone recharges, and money transfers to other users. Qiwi also has an extensive network of automated payment terminals throughout Russia, allowing users to add funds to the wallet in cash or make payments directly.

[Yandex.Money]
Yandex.Money is the largest electronic payment service in Russia and is provided by Yandex, Russia's largest Internet company. yandex.Money allows users to pay for goods and services online, pay for utilities, and transfer money to other users. Yandex.Money also offers its own branded prepaid cards, which allow users to withdraw their digital wallet balances from ATMs and make payments in physical stores.

Africa: M-pesa

[M-pesa]
M-Pesa is a mobile money service widely used in East Africa, especially in Kenya and Tanzania. M-Pesa ("M" for mobile, "Pesa" for money in Swahili) allows people to send and receive money using their mobile phones. For many people without bank accounts, M-Pesa provides an easy way to perform basic financial transactions such as money transfers, deposits, withdrawals, and payments.
M-Pesa allows registered users to convert cash from certain agents into digital credits and vice versa. It is also possible to transfer money directly between M-Pesa accounts. These services are also available on basic feature phones, making the payment method accessible even in areas with underdeveloped banking infrastructure.

Summary

How was it?
There are countless other payment methods that we have not covered here. Some payment services can be easily implemented in the default store, while others require a contract with a country-specific payment agency that is linked to Shopify.
We provide total support from choosing the best payment service to implementation and operation, so please feel free to contact us.