Payment methods in Spain
The Spanish e-commerce market is worth $120 billion - and is predicted to reach $166 billion by 2029.
Market takeaways
- The Spanish e-commerce market is worth $120 billion - and is predicted to reach $166 billion by 2029.
- Local payment methods are on the rise - in 2024, 10.3% of Spanish shoppers paid using Bizum - a huge growth from 2.7% from 2023.
- In 2025, the average Spanish online shopper will spend US$2,693 with e-commerce merchants. By 2029 this is expected to rise to US$3,383.
- The number of users in the Spanish e-commerce market is expected to amount to 26.8 million by 2029.
Population
48.8M
Online population
47.1M
B2C e-commerce
$120B
Banked population
99%
Credit card population
79%
E-commerce of total retail
11%
Payment method breakdown
- Card50%
- Cash2%
- Bank Transfer5%
- E-Wallet31%
- Other12%
Card scheme breakdown
- Visa59%
- Mastercard39%
- American Express2%
- Local schemes0%
- Other0%
Cross-border e-commerce
Market data coming soon.
Featured payment methods in Spain
All payment methods available in this market, sorted by prominence.
Bizum
Spanish bank-backed instant mobile payment system for P2P transfers and increasingly online checkouts. Operator: Sociedad de Procedimientos de Pago S.L. (Redsys/banks). Est. users: 27.6M users (2024).
Maestro
Maestro is Mastercard's international debit scheme; new issuance ended July 2023 and remaining cards are being replaced by Debit Mastercard, with only limited e-commerce support. Operator: Mastercard. Est. users: historically hundreds of millions (cards expire by 2027).
Featured banks in Spain
All banks operating in this market, sorted by prominence.
ING Group
Amsterdam, Netherlands
ING Group is the Netherlands' largest bank and a leading European financial institution. It operates a digital-first universal banking model across Europe and globally.
Banco Santander
Santander, Spain
Banco Santander is Spain's largest bank and one of the world's top 10 financial institutions by market cap. It serves 160 million customers in Europe, North America, and Latin America.
Crédit Agricole Group
Paris, France
Crédit Agricole is the world's largest cooperative bank and France's second-largest financial group. It provides retail, corporate, insurance, and asset management services in France and internationally.
BBVA
Bilbao, Spain
BBVA is Spain's second-largest bank with a major presence in Mexico, South America, Turkey, and the USA. It is known for its digital banking leadership.
Intesa Sanpaolo
Turin, Italy
Intesa Sanpaolo is Italy's largest bank and one of the Eurozone's leading financial institutions, providing retail, corporate, and investment banking in Italy and across Eastern Europe, the Middle East, and Africa.
CaixaBank
Valencia, Spain
CaixaBank is Spain's third-largest bank and a leader in digital banking, formed by the merger with Bankia in 2021.
Banco Sabadell
Sabadell, Spain
Banco Sabadell is Spain's fourth-largest bank, focused on SME and corporate banking, and owner of TSB Bank in the UK.
Caixa Geral de Depósitos (CGD)
Lisbon, Portugal
Caixa Geral de Depósitos (CGD) is Portugal's largest bank and a state-owned institution, offering retail, commercial, and investment banking across Portugal and internationally.
Julius Baer
Zurich, Switzerland
Julius Baer is one of Switzerland's leading pure private banking and wealth management groups, managing assets for high-net-worth individuals globally.
Bankinter
Madrid, Spain
Bankinter is a Spanish bank known for its innovative approach, focusing on private banking, SMEs, and mortgages.
Mediobanca
Milan, Italy
Mediobanca is Italy's leading investment bank and a significant financial services group, providing corporate finance, private banking, and consumer credit.
Bunq
Amsterdam, Netherlands
Bunq is a Dutch neobank founded in 2012, operating across Europe as one of the continent's fastest-growing challenger banks, known for its eco-friendly and multi-currency features.
Banca Mediolanum
Milan, Italy
Banca Mediolanum is Italy's leading bancassurance group, offering integrated banking, insurance, and investment products primarily through a network of financial advisors.
Novo Banco
Lisbon, Portugal
Novo Banco is a Portuguese bank created in 2014 from the resolution of Banco Espírito Santo (BES). It offers retail, corporate, and private banking in Portugal and Spain.
Banco Pichincha
Quito, Ecuador
Banco Pichincha is Ecuador's largest private bank, offering retail, SME, and corporate banking with extensive operations in the US, Spain, and other Latin American markets.
Abanca
A Coruña, Spain
Abanca is the leading bank in Galicia offering retail and business banking.
Triodos Bank
Zeist, Netherlands
Triodos Bank is a Dutch ethical bank that exclusively finances sustainable and social enterprises. It operates in the Netherlands, Belgium, UK, Germany, Spain, and France.
Unicaja Banco
Málaga, Spain
Unicaja Banco operates primarily in southern and central Spain following its merger with Liberbank.
Ibercaja Banco
Zaragoza, Spain
Ibercaja Banco is a Spanish bank focused on Aragon and the surrounding regions.
Kutxabank
Bilbao, Spain
Kutxabank is the leading bank in the Basque Country, formed from the merger of BBK, Kutxa, and Vital savings banks.
Andbank
Andorra la Vella, Andorra
Andbank is one of Andorra's largest private banks, offering wealth management and private banking internationally.
Cajamar Caja Rural
Almería, Spain
Cajamar Caja Rural is Spain's leading cooperative rural bank, focused on agriculture and SME lending.
Other Banks — Spain
Madrid, Spain
Aggregate of all remaining banks in Spain not individually listed, collectively representing ~18.0% of domestic banking assets.