6 Top Payment Methods in Spain

 Understanding the top payment methods in Spain is vital when you want to expand your business to the country. We outline 6 of the most common methods.

As a business owner looking to expand into Spain, it's important to understand which payment methods are popular with your potential customers. Offering preferred, local payments is one crucial way to enhance the customer experience. 

We’ll look at the top 6 payment methods in Spain and discuss their use for business owners. No matter what you sell, this information will be valuable in helping you determine the best payment options to offer your customers as you enter the Spanish market.


6 Top Payment Methods in Spain

1. Credit and Debit Cards

For online and ecommerce purchases, the top payment methods in Spain are credit and debit cards (sometimes referred to as ‘charge cards’ in Spain). Card payments currently make up around 53% of online transactions. 

Unlike many other European countries, Spain reports high credit card usage, at around half of all card transactions. The most common debit and credit card brand in Spain is Visa, with nearly 57% of the market share, with Mastercard as a close second. 

2. Digital Wallets

Digital wallets include e-wallets and mobile payments made with a phone or other smart device. While they still lag behind credit and debit cards, they have gained popularity in Spain in recent years, holding nearly 30% of the online payment market share. 

The most popular digital wallet used in Spain is PayPal, as it has been around the longest. However, Apple Pay, Google Pay, and even Amazon Pay are other top digital wallet services used in Spain. 

3. Cash 

Statista reports that in Spain in 2021, 47% of all retail transactions were made in cash. While online transactions are dominated by card and digital wallets, cash is thriving in the overall retail section, particularly for smaller transactions (under €10). Even for online payments, cash payment on delivery held 8% of the market. 

While young generations have embraced digital forms of payment, older demographics still prefer the tried-and-true method of cash, especially in more rural villages and towns. 

4. Bank Transfers

Bank transfers are another top payment method in Spain. This is mainly due to their security and efficiency for both merchants and customers. Bank transfers account for around 16% of online payments, according to JP Morgan.   

Bank transfers allow customers who may not have access to major credit or debit cards to pay digitally. They also provide instant payment and less risk of chargebacks or declined payments. 

There are a few apps commonly used in Spain that help facilitate bank transfers. Trustly and Sofort are two popular options for online bank transfer payments in Spain. Locally, many people also use Bizum, which is a Spain-only app that works with all the top Spanish banks. 

5. SEPA Direct Debits

SEPA (Single Euro Payments Area) direct debits are a payment type specifically used in the European Union. For this method, a merchant can initiate a direct debit from a customer’s account after receiving customer authorization. 

SEPA has two schemes, one for consumer transactions and one for business-to-business. All SEPA transactions are completed in Euros, but can be made from any EU account, even if it is a different currency. 

SEPA is ideal for recurring transactions like subscriptions, as authorization needs to be given only once, however it can be used for one-off transactions as well. 

6. Buy Now, Pay Later (BNPL)

According to a recent study by Research and Markets, BNPL services are expected to grow nearly 15% across the next decade in Spain. 

During and post COVID-19, this has become a popular method for many Spanish consumers, as it allows them to break large purchases down into small installments. Spreading payments across installments is particularly popular for travel, home appliances, and electronics. 

The top contenders for BNPL services in Spain include Clearpay and Klarna. The service is also offered by a number of banks including Santander, for Spanish customers.  

The Best Way to Accept Global Payments

Pay.com is the best way to accept payments from anywhere in the world. Pay.com offers a range of payment methods to fit all your market needs. You can use the user-friendly Pay Dashboard to choose which payment methods you want to accept – all it takes is the click of a button! 

Additionally, accepting global payments requires a high level of security – both for you and your customers. Pay.com supports 3D Secure 2.0 to authenticate card details as an added level of protection, which can help catch fraudulent activity and prevent lost revenue through chargebacks. 

Finally, you can also gain in-depth insights from the Pay Dashboard, including patterns of spending, preferred payment methods, and overall revenue across locations. These insights allow you to spot patterns and trends and track your KPIs, to improve and grow as a business. 

Click here to get started with Pay.com now!

The Bottom Line

While digital payments are on the rise throughout Spain, tried-and-true methods like credit cards, debit cards, and cash remain at the top. For online businesses, offering a variety of digital payment methods like credit and debit cards, BNPL, and digital wallets can help you remain competitive in the Spanish market. 

If you want a way to accept the top payment methods, Pay.com is your best bet. With a wide variety of payment methods, you’ll be able to offer your customers a convenient way to pay how they prefer. Plus, with the added security measures like 3D Secure 2.0, you’ll have greater peace of mind when it comes to preventing fraudulent charges. 

Click here to create your Pay.com account now.


How can my business accept payments from Spain?

With Pay.com, your business can easily accept payments from Spain. Offering a variety of payment methods that are popular in Spain, like Visa, Mastercard, and PayPal, Pay.com is a great choice for providing your customers with their preferred payment methods. 

Click here to sign up now!

What is the most used payment method in Spain?

Credit and debit cards are the most used payment methods in Spain. Compared to many other European countries, Spain has a high level of credit card use with 45% of payment cards issued being credit cards. Visa has the biggest share of the Spain card market (for both credit and debit cards) at nearly 57%. Mastercard is the second most common.

Is Spain mostly cashless?

No! Compared to many other European nations like Sweden and Norway, Spain still has a high amount of cash transactions on a daily basis, especially for in-person transactions. While the number of card transactions is growing, cash is still one of the most popular methods of payment in Spain.

What is the safest way to accept payments from Spain?

Pay.com offers the safest way to accept payments from Spain, for both you and your customers. With 3D Secure 2.0 authentication, Pay.com helps mitigate the risk of chargebacks from fraudulent card activity, which reduces lost revenue for you. 

Additionally, Pay.com offers tokenization and the highest level of PCI DSS compliance to make your customers feel secure and confident that your checkout process is safe and legitimate.

Meet the author
Ashley Hague
Ashley Hague is a B2B writer based in New Zealand. Specializing in fintech, SaaS, and sustainability in business, she helps businesses achieve their goals. When not working, she can be found rock climbing or delving into a historical biography.
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