Top 5 Payment Providers Offered by Lithuanian Online Stores 2023

What are the Top 5 Payment Providers in the Lithuanian eCommerce Market Offered by Online Stores in 2023?

In the Lithuanian eCommerce market of 2023, payment provider penetration (percentage of stores offering the provider among available payment methods) data reveals a clear hierarchy dominated by traditional payment methods. Bank transfer/cash in advance leads the pack with a substantial penetration rate of 73.4%, indicating a strong preference for these methods among Lithuanian online businesses. Cash on delivery follows closely behind at 64.7%, showcasing the continued popularity of this payment option in the country. VISA and Mastercard, two well-known card providers, hold significant positions with penetration rates of 62.4% and 61.8%, respectively. These figures highlight the enduring trust and widespread usage of card payments in the Lithuanian eCommerce landscape. Interestingly, unknown providers offering invoice services also make a notable appearance with a penetration rate of 48.6%, indicating a segment of the market that relies on alternative payment solutions. The data from 2023 underscores the diverse payment preferences within the Lithuanian eCommerce market, with traditional methods maintaining a strong foothold while newer options continue to gain traction based on consumer demand and convenience.

Main Facts: Dominant Payment Providers in Lithuanian eCommerce Market 2023

• Bank transfer/cash in advance (Bank transfer) dominates the Lithuanian eCommerce market with a penetration rate of 73.4% in 2023.
• Cash on delivery (Cash on delivery) follows closely behind with a penetration rate of 64.7%.
• VISA (Cards) and Mastercard (Cards) hold significant market shares with penetration rates of 62.4% and 61.8% respectively, while unknown providers (Invoice) round out the top 5 with a penetration rate of 48.6%.