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Payment methods in Spain

Europe
2methods
23banks

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 banks in Spain

All banks operating in this market, sorted by prominence.

ING Group

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

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

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

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

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

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

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)

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

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

Bankinter

Madrid, Spain

Bankinter is a Spanish bank known for its innovative approach, focusing on private banking, SMEs, and mortgages.

Mediobanca

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

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

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

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

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

Abanca

A Coruña, Spain

Abanca is the leading bank in Galicia offering retail and business banking.

Triodos Bank

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

Unicaja Banco

Málaga, Spain

Unicaja Banco operates primarily in southern and central Spain following its merger with Liberbank.

Ibercaja Banco

Ibercaja Banco

Zaragoza, Spain

Ibercaja Banco is a Spanish bank focused on Aragon and the surrounding regions.

Kutxabank

Kutxabank

Bilbao, Spain

Kutxabank is the leading bank in the Basque Country, formed from the merger of BBK, Kutxa, and Vital savings banks.

Andbank

Andbank

Andorra la Vella, Andorra

Andbank is one of Andorra's largest private banks, offering wealth management and private banking internationally.

Cajamar Caja Rural

Cajamar Caja Rural

Almería, Spain

Cajamar Caja Rural is Spain's leading cooperative rural bank, focused on agriculture and SME lending.

Other Banks — Spain

Other Banks — Spain

Madrid, Spain

Aggregate of all remaining banks in Spain not individually listed, collectively representing ~18.0% of domestic banking assets.

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