Payment Methods Overview

Markets: Global

Mastercard was established in 1966 as the Interbank Card Association, a response by U.S. banks to Bank of America's BankAmericard (which became Visa). It evolved into a worldwide network connecting issuing banks, acquiring banks, and merchants. Mastercard supports credit, debit, and prepaid products and is accepted at tens of millions of merchants. Payments are authorized through its global four-party model, either by chip, contactless tap, or online entry.

Markets: Europe

Launched in 1992 as Mastercard's debit network, Maestro linked directly to users' bank accounts, enabling real-time debit transactions. It became Europe's standard debit brand, widely used in Germany, the Netherlands, and Switzerland. With the rise of modern debit cards carrying both domestic and international brands, Maestro is now being replaced by Debit Mastercard.

Markets: Global

Visa originated in 1958 as BankAmericard, the first general-purpose credit card issued by Bank of America. It became Visa in 1976 and now operates the world's largest electronic payments network, handling billions of transactions annually. Visa offers credit, debit, and prepaid products, all interoperable worldwide via chip, contactless, or online use.

Markets: Global

American Express began in 1850 as an express mail and financial services company and introduced its first charge card in 1958. It differs from Visa and Mastercard by operating a closed-loop network, acting as both issuer and acquirer. Amex is known for premium customer programs, strong travel ties, and its focus on affluent markets. Acceptance is widespread but varies by region due to merchant fees.

Markets: Global

Diners Club International, founded in 1950, is recognized as the first true charge card. Initially designed for restaurant payments, it pioneered the concept of consumer credit. Although its global presence has declined compared to Visa and Mastercard, it remains active in travel, corporate, and premium segments. Diners cards operate on the Discover network in many regions.

Markets: Global

Founded in 1985 by Sears in the U.S., Discover introduced one of the first credit cards without an annual fee. It developed its own network, later expanding internationally through partnerships (notably with UnionPay and Diners Club). Discover operates a closed network like Amex and supports credit, debit, and online payments across its ecosystem.

Markets: Global, Originally from Japan

Founded in 1961 in Japan, JCB became the country's dominant credit card brand. It expanded internationally in the 1980s, now accepted in over 200 countries, primarily across Asia-Pacific. JCB issues its own cards and partners with other networks for broader acceptance. Payments are processed through chip, contactless, or magnetic methods, emphasizing security and rewards programs tailored to Japanese and Asian consumers.

Markets: Global, Originally from China

UnionPay was founded in 2002 under the approval of the People's Bank of China as the country's centralized bank card association. It quickly became the world's largest card issuer by number of cards, driven by China's vast domestic market. UnionPay now operates globally in over 180 countries, offering debit, credit, and QR-based payments. Domestically, it remains tightly integrated with Chinese banks and wallets.

Markets: Global

Launched in 2014, Apple Pay is Apple's digital wallet integrated into iOS devices such as the iPhone, Apple Watch, iPad, and Mac. It allows users to make secure in-store, in-app, and online payments using tokenized card credentials stored in the device's Secure Element. Apple Pay transactions are authenticated via Face ID, Touch ID, or passcode and completed through NFC or Apple's in-app API. The service works with most major card networks and banks globally.

Markets: Global

Google Pay, originally launched as Android Pay in 2015, is Google's mobile wallet for Android and Wear OS devices. It enables users to make contactless payments in stores via NFC and to check out online or in apps using stored cards or bank accounts. Payment data is tokenized and stored securely in the Google Pay system. It supports loyalty cards, tickets, and passes, aiming to unify physical and digital payments within the Android ecosystem.

Markets: Global

Samsung Pay was introduced in 2015 and is available on compatible Samsung smartphones and smartwatches. It supports both NFC and MST (Magnetic Secure Transmission), enabling it to work with traditional magnetic stripe terminals as well as contactless readers. Like Apple Pay and Google Pay, Samsung Pay uses tokenized credentials and biometric authentication to secure transactions. It integrates with major card networks and banks in dozens of countries.

Markets: Global

Klarna, founded in 2005 in Stockholm, pioneered “Pay Later” online checkout options that evolved into a full BNPL and shopping app. It partners with merchants globally, letting consumers pay immediately, later, or in installments. Transactions use card or direct-bank rails behind the scenes, with Klarna handling risk and settlement.

Markets: Australia, New Zealand, US, Canada, UK, EU

Founded in 2014 in Australia, Afterpay popularized “pay-in-4” interest-free installments for online and in-store purchases. Consumers pay the first installment at checkout and three follow-ups on a fixed schedule; merchants are paid upfront by Afterpay, which assumes risk and fees.

Markets: US, Canada

Launched in 2012, Affirm offers pay-in-4 and longer-term installment loans with clear pricing and no hidden fees. It underwrites each transaction, pays the merchant at capture, and collects from the shopper over time via card or bank debit.

Markets: Switzerland

Availabill, founded in 2019 and part of Cembra Money Bank, offers Buy-Now-Pay-Later and invoice-based payment solutions. It lets Swiss consumers split purchases into installments or pay by invoice at partner merchants. Integration is online and in-store via QR invoice or checkout API.

Markets: Switzerland

CembraPay is the digital payments division of Cembra Money Bank, launched in 2023. It consolidates invoice, installment, and wallet-based payment options under one platform. Merchants integrate via API, offering customers flexible financing or delayed payment at checkout.

Markets: Switzerland

Paycard is a Swiss prepaid and gift-card platform commonly used by employers and associations for incentives and benefits. It operates as a closed-loop network, with cards accepted at selected partner merchants and online stores in Switzerland.

Markets: Switzerland

PowerPay, a brand of MF Group, provides post-purchase invoicing and installment plans for Swiss e-commerce. Shoppers can choose to pay by monthly invoice, installments, or full settlement later. PowerPay handles credit checks, billing, and risk management for merchants.

Markets: Switzerland

Swissbilling offers invoice and installment solutions for e-commerce and retail. Founded in 2011, it allows consumers to receive goods first and pay later by invoice. It's regulated by FINMA and part of Cembra Money Bank's digital-payments portfolio.

Markets: Asia-Pacific, Europe (cross-border)

Launched in 2020 by Ant Group, Alipay Plus extends the Alipay ecosystem to support a network of regional digital wallets. It enables users of partner wallets (such as GCash, Touch 'n Go, or Dana) to pay internationally at Alipay-accepting merchants. Payments are made by scanning merchant QR codes or using dynamic wallet QR codes, settling via local currency conversion through Ant's global platform.

Markets: Global

Introduced in 2007, Amazon Pay allows Amazon account holders to use their stored payment methods to check out on third-party websites. It leverages Amazon's user trust and saved credentials, providing a one-click online checkout experience. Works through standard card authorization and Amazon's fraud-protection layers.

Markets: Belgium

Bancontact, created in 1989 and merged with Payconiq in 2018, is Belgium's dominant domestic debit scheme. It supports both card payments and app-based QR transactions for in-store, online, and P2P use. It connects directly to bank accounts, settling through SEPA Instant where available.

Markets: Spain

Launched in 2016 by Spanish banks, Bizum links phone numbers to IBANs for instant transfers and merchant payments. Growing QR/web acceptance and near-universal availability in banking apps.

Markets: Poland

Introduced in 2015 by Polski Standard Płatności, BLIK is a bank-app A2A system using one-time codes, QR, and P2P by phone number. It's widely adopted for e-commerce, POS, and ATM cash-out, funding directly from bank accounts.

Markets: Malaysia

DuitNow provides national proxies (mobile/ID) and a standard QR that interoperates across banks and wallets. It supports P2P, bill pay, and merchant QR acceptance.

Markets: Germany

ELV, or the Electronic Direct Debit System, was introduced in the 1980s as a low-cost domestic payment option for German merchants. It allows retailers to debit customers' bank accounts directly using card data and a signed SEPA mandate. Transactions are processed offline or batch-cleared through banks.

Markets: Austria

EPS is Austria's national online banking payment system, introduced in 2001 by the Austrian Bankers Association and government. It enables customers to pay online directly from their bank accounts using secure redirects to their banking portals. EPS transactions are processed in real time and guaranteed to merchants.

Markets: Germany

Launched in 2006, Giropay was Germany's online bank-transfer system built on the country's strong banking infrastructure. It merged with paydirekt and Kwitt under the Giropay brand but was discontinued at the end of 2024 as banks shifted toward SEPA Instant and EU-wide initiatives.

Markets: Netherlands

Introduced in 2005 by a consortium of Dutch banks, iDEAL dominates e-commerce payments in the Netherlands. It enables customers to pay directly from their bank accounts through secure redirects. In 2023 it was acquired by the European Payments Initiative (EPI) for integration into a broader EU bank-based framework.

Markets: Denmark, Finland (merged into Vipps MobilePay)

MobilePay was launched in 2013 by Danske Bank and quickly became Denmark's leading P2P and merchant mobile payment app. It later expanded to Finland and merged in 2023 with Norway's Vipps to form Vipps MobilePay. Payments are instant account-to-account transfers initiated by phone number or QR code.

Markets: Global

Founded in 1998, PayPal revolutionized online payments by allowing individuals and businesses to send and receive money securely via email. Now one of the most recognized fintech brands worldwide, it supports wallet-based payments, card storage, and peer-to-peer transfers, both online and in apps.

Markets: Europe, Global Online

Founded in Austria in 2000, paysafecard is a prepaid voucher system for online purchases. Users buy vouchers with a 16-digit PIN and redeem them at participating websites without sharing card or bank details. It's popular for gaming, streaming, and privacy-focused online payments.

Markets: Switzerland

PostFinance Pay is the digital wallet operated by PostFinance, Switzerland's state-linked retail bank. It enables in-store and online payments directly from customer accounts, often via QR code or Swiss QR-bill scanning. It complements TWINT and other local solutions in Switzerland's banking ecosystem.

Markets: Poland

Founded in 2004, P24 is an online payment aggregator that routes bank transfers, BLIK, and cards. Customers select their bank, authenticate, and complete an instant A2A transfer; strong e-commerce coverage across Poland.

Markets: Eurozone

The SEPA Direct Debit (Lastschrift) scheme was launched in 2008 to standardize recurring and one-off bank debits across Europe. It allows merchants to pull funds from customers' Euro-area accounts with prior consent. Widely used for subscriptions, utilities, and insurance payments.

Markets: Sweden

Introduced in 2012 by a consortium of Swedish banks, Swish enables instant mobile payments between individuals and merchants. It connects directly to users' bank accounts and is authenticated through BankID. Swish supports QR payments at POS and has become Sweden's de facto standard for P2P transfers.

Markets: Switzerland

Swisscom Pay is the telecom operator's carrier-billing and wallet solution, allowing mobile subscribers to charge digital purchases directly to their phone bill. It's mainly used for app-store and online content payments, integrating telecom billing into e-commerce flows.

Markets: Switzerland

TWINT launched in 2015 following the merger of PostFinance TWINT and Paymit. It is Switzerland's national mobile-payment system backed by major banks. Users pay by scanning or showing QR codes, transfer money P2P, and link loyalty cards or coupons within the app. TWINT processes millions of transactions daily across retail, transit, and e-commerce.

Markets: Norway, Nordics (through Vipps MobilePay)

Vipps was launched in 2015 by DNB Bank as Norway's national mobile-payment app. It became the most popular P2P and merchant payment method in the country. Following its 2023 merger with MobilePay, it's now expanding interoperability across the Nordic region.

Markets: China, Global (tourist acceptance)

WeChat Pay was introduced in 2013 as part of Tencent's WeChat super-app. It allows over one billion users to make payments, transfers, and in-app purchases using QR codes and mini-programs. Outside China, it's supported at partner merchants catering to Chinese travelers through Alipay Plus and other integrations.

Markets: Norway

BankAxept was introduced in 1991 as Norway's national debit card scheme. It dominates Norwegian in-store transactions, accounting for roughly 80% of all physical card payments. Linked directly to customers' bank accounts, it enables instant debit authorizations through chip, contactless, and mobile integrations. It coexists with Visa and Mastercard for international acceptance.

Markets: Italy

Introduced in 1983, PagoBancomat is Italy's domestic debit card scheme, managed by the Bancomat S.p.A. consortium. It's the default debit system for Italian current accounts and is accepted in nearly all retail locations. The cards use EMV chip and contactless payments and are increasingly integrated with Bancomat Pay for digital and online transactions.

Markets: Switzerland

Founded in the late 1990s, Boncard is a Swiss prepaid and gift card system used mainly for business and consumer benefits. It offers reloadable cards that can be used at affiliated merchants, online stores, and hospitality venues across Switzerland. Boncard operates as a closed-loop network and is popular among corporate clients for incentive programs and employee rewards.

Markets: Mexico

Carnet (short for “Carnet de Servicios”) is a Mexican domestic card network founded in 1968 by Promoción y Operación S.A. It enables both debit and credit card transactions within Mexico and is accepted by many national banks. Carnet cards work with chip, magstripe, or contactless interfaces and can also be co-badged with global networks for cross-border use.

Markets: France

Created in 1984, Groupement des Cartes Bancaires CB is France's national interbank card scheme. Nearly every French debit or credit card carries the CB logo, and the scheme processes billions of transactions annually. CB operates in partnership with Visa and Mastercard for international interoperability. Domestic payments use chip and contactless EMV technology, while online transactions run through France's secure 3-D Secure infrastructure.

Markets: Denmark

Launched in 1983, Dankort is Denmark's national debit card scheme and remains the country's most common payment method for in-store transactions. It's issued by Danish banks and works offline or online using chip and contactless technology. Most cards today are co-badged with Visa (as Visa/Dankort), providing both domestic and international functionality.

Markets: Brazil

Launched in 2011 by Banco do Brasil, Bradesco, and Caixa Econômica Federal, Elo is a Brazilian domestic card brand covering debit, credit, and prepaid products. It was created to strengthen national payment independence and now serves tens of millions of cardholders. Elo cards use chip and contactless technology and can also operate internationally through co-branding agreements with Discover or Diners Club.

Markets: Brazil

Hipercard began in the 1970s as a store card in Recife and became a national credit card network in the 1990s after being acquired by Grupo Itaú. It remains a popular domestic brand, particularly in Brazil's Northeast region. Hipercard transactions are processed through local acquirers, primarily for credit purchases at physical merchants and online.

Markets: Canada

Established in 1984, Interac is Canada's national debit network, jointly owned by Canadian financial institutions. It powers both point-of-sale debit transactions and the popular Interac e-Transfer system for peer-to-peer payments. Interac cards connect directly to users' bank accounts, enabling chip and contactless payments domestically, while co-badged Visa or Mastercard debit cards handle international use.

Markets: Switzerland

Reka (Schweizer Reisekasse) was founded in 1939 as a cooperative to promote affordable travel and leisure. The Reka-Card is a prepaid payment card accepted at thousands of Swiss hotels, restaurants, fuel stations, and leisure providers. It operates as a closed-loop system, often offered by employers at discounted rates as a fringe benefit.

Markets: Global (focused on airlines and travel)

The Universal Air Travel Plan (UATP) was established in 1936 by a consortium of airlines as the world's first charge card system. It remains active today as a specialized payment network for the airline and corporate travel industry. UATP cards are used primarily for B2B ticketing, travel expenses, and settlement between airlines, travel agencies, and corporate clients.