Over 50 percent of global ecommerce purchases are carried out through Stripe, according to data obtained by Buyshares.co.uk.

PayPal comes second, accounting for almost 20 percent of all online payments, followed by Google Pay’s 16 percent. Amazon payments account for 4 percent while Klarna and other e-payment method take up remaining 6 percent.

Online payment solutions are experiencing a steady increase in usage, consequently leading to lower use of cash and cheques.

When it comes to usage distribution, almost 1.2 million websites use Stripe as the main payment processor, followed by 444,864 websites using PayPal Form. Google Play ranks third, used by 366,740 websites, while Amazon Payments are preferred choice on just about 100,000 websites.

As online payment solutions rise in popularity, the main concern for consumers is online safety and ease of cross border transactions.

“Just like any other sector, the online payment systems have the potential of reaching significant heights in the coming years, thanks to factors like a mobile explosion. With smartphone usage on the rise, many payment processors are bound to take advantage and customise their systems to leverage this potential.

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