Payments Market in Spain Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Spain Payments Market is Segmented by Mode of Payment (Point of Sale (Card Payments, Digital Wallet, Cash), Online Sale (Card Payments, Digital Wallet)), and by End-user Industries (Retail, Entertainment, Healthcare, Hospitality).

Payments Market in Spain Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Spain Payments Market Size

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Spain Payments Market Size
Study Period 2019 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Historical Data Period 2019 - 2023
CAGR 9.60 %
Market Concentration Medium

Major Players

Spain Payments Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Spain Payments Market with other markets in Technology, Media and Telecom Industry

Automation

Digital Commerce

Electronics

Information Technology

Media and Entertainment

Security & Surveillance

Spain Payments Market Analysis

The Spain Payments Market is expected to register a CAGR of 9.6% during the forecast period.

  • Various emerging economies and growing nations worldwide, including Spain, are following prominent increase rates in the adoption of mobile payments due to ease of performing transactions or penetration of smartphones and the financial inclusion features offered by the technology.
  • Tourism is an essential element of the Spanish economy, and encouraging citizens and international visitors to book flights and accommodations after COVID-19 is essential to the growth of Spanish e-commerce. Time savings are increasingly cited as the most important motivating factor for online purchases. In contrast, price considerations have become less critical, suggesting that the value of online shopping baskets can increase as Spaniards spend less and less time.
  • Recently, many vendors have developed Buy Now, Pay Later (BNPL) services that issue virtual cards via mobile apps. This service can be widely used for in-store payments and online transactions at merchants that accept card payments. The surge in BNPL usage in Spain in recent years indicates that more and more people see these services as a convenient and cheap way to shop. Sellers of BNPL services are increasingly accepting both online and over-the-counter transactions.
  • Increasing international trade, internationalization of production, and cross-border e-commerce show that the demand for digital cross-border payments continues to grow worldwide. However, digital payments from one country to another can be more costly, time-consuming, and less transparent than domestic payments due to the complex process. This can hinder the growth of the adoption of digital payments for cross-border transactions between local businesses, especially SMEs.
  • Acceptance of digital payment methods has improved post-COVID-19 and play a more critical role in the long run. Cash is considered a potential carrier of the virus, and governments and regulatory agencies have advised against its use. For example, cash use in Europe has been halved in the last few days after the government's blockade, and essential shops are increasingly avoiding cash transactions.

Spain Payments Industry Overview

Spanish payments operate in a moderately competitive market with the presence of various payment service providers in the country. The competition is intensifying in the region with new innovations and technology adoptions made by the existing and new entrants.

  • January 2022 - Ford Motor Company and Stripe have signed a five-year contract to accelerate the e-commerce capabilities of automakers and provide Ford and Lincoln customers with an always-on experience. Stripe and Ford will work together to expand the online payment infrastructure to serve customers and merchants in the North American and European markets.
  • September 2020 - PayPal and Mastercard announced that it will continue to expand the popular PayPal Business Debit Mastercard worldwide. With a debit card, small businesses can quickly access their PayPal balance and get an unlimited 0.5% cash back. PayPal Business Debit Mastercard is now available in five new European countries: Austria, France, Ireland, Italy, and Spain.

Spain Payments Market Leaders

  1. PayPal

  2. Stripe, Inc.

  3. Adyen

  4. 2Checkout

  5. Authorize.net

  6. *Disclaimer: Major Players sorted in no particular order
PayPal, Stripe, Inc, Adyen, 2Checkout, Authorize.net.
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Spain Payments Market News

  • May 2022 - Adyen announced that it expanded its partnership with Afterpay Limited, one of the leading BNPL providers. Afterpay has partnered with Adyen to process payments in key markets such as Australia, New Zealand, Canada, Europe, the United States, and the United Kingdom to support the company's global growth and momentum.
  • March 2022 - Skrill has launched a new and innovative Skrill Prepaid Mastercard for Apple Pay for fast and secure contactless payments. Users can add both virtual and physical Skrill Prepaid Mastercards to Apple Pay, making it safer to pay in stores, apps, and the web using iPhone, Apple Watch, iPad, or Mac.

Spain Payments Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions and Market Definitions
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET INSIGHTS

  • 4.1 Market Overview
  • 4.2 Industry Stakeholder Analysis
  • 4.3 Industry Attractiveness-Porter's Five Force Analysis
    • 4.3.1 Bargaining Power of Suppliers
    • 4.3.2 Bargaining Power of Buyers/Consumers
    • 4.3.3 Threat of New Entrants
    • 4.3.4 Threat of Substitute Products
    • 4.3.5 Intensity of Competitive Rivalry
  • 4.4 Evolution of the payments landscape in the country
  • 4.5 Key market trends pertaining to the growth of cashless transaction in the country
  • 4.6 Impact of COVID-19 on the payments market in the country

5. MARKET DYNAMICS

  • 5.1 Market Drivers
    • 5.1.1 High adoption of e-commerce, including the rise of mobile and online payments, supported by increased consumer purchasing power
    • 5.1.2 Enablement Programs by Key Retailers and Government encouraging digitization and contactless payments in the market
  • 5.2 Market Challenges
    • 5.2.1 Lack of a standard legislative policy remains especially in the case of cross-border transactions
  • 5.3 Market Opportunities
    • 5.3.1 Move towards Cashless Society
    • 5.3.2 New Entrants to Drive Innovation Leading to Higher Adoption
  • 5.4 Key Regulations and Standards in the Digital Payments Industry
  • 5.5 Analysis of major case studies and use-cases
  • 5.6 Analysis of key demographic trends and patterns related to payments industry in the country (Coverage to include Population, Internet Penetration, Banking Penetration/Unbanking Population, Age & Income etc.)
  • 5.7 Analysis of the increasing emphasis on customer satisfaction and convergence of global trends in the country
  • 5.8 Analysis of cash displacement and rise of contactless payment modes in the country

6. Market Segmentation

  • 6.1 By Mode of Payment
    • 6.1.1 Point of Sale
    • 6.1.1.1 Card Payments (includes Debit Cards, Credit Cards, Bank Financing Prepaid Cards)
    • 6.1.1.2 Digital Wallet (includes Mobile Wallets)
    • 6.1.1.3 Cash
    • 6.1.1.4 Others
    • 6.1.2 Online Sale
    • 6.1.2.1 Card Payments (includes Debit Cards, Credit Cards, Bank Financing Prepaid Cards)
    • 6.1.2.2 Digital Wallet (includes Mobile Wallets)
    • 6.1.2.3 Others (includes Cash on Delivery, Bank Transfer, and Buy Now, Pay Later)
  • 6.2 By End-user Industry
    • 6.2.1 Retail
    • 6.2.2 Entertainment
    • 6.2.3 Healthcare
    • 6.2.4 Hospitality
    • 6.2.5 Other End-user Industries

7. Competitive Landscape

  • 7.1 Company Profiles
    • 7.1.1 2Checkout
    • 7.1.2 Getswish AB
    • 7.1.3 Braintree
    • 7.1.4 Paymill
    • 7.1.5 Stripe
    • 7.1.6 WorldPay
    • 7.1.7 Klarna Bank AB
    • 7.1.8 QuickPay
    • 7.1.9 Nochex
    • 7.1.10 Wirecard
  • *List Not Exhaustive

8. Investment Analysis

9. Future Outlook of the Market

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Spain Payments Industry Segmentation

The Spanish payments market is segmented by two modes of payment - POS and e-commerce. E-commerce payments include online purchases of both goods and services, such as purchases made on e-commerce websites and online booking of travel and accommodation. However, it does not include online purchases of motor vehicles, real estate, utility bill payments (such as water, heating, and electricity), mortgage payments, loans, credit card bills, or purchases of shares and bonds. As for POS, all transactions that occur at the physical point of sale are included in the scope of the market. It includes traditional in-store transactions as well as all face-to-face transactions, regardless of where they take place. Cash is also considered for both cases (cash-on-delivery for e-commerce sales).

By Mode of Payment Point of Sale Card Payments (includes Debit Cards, Credit Cards, Bank Financing Prepaid Cards)
Digital Wallet (includes Mobile Wallets)
Cash
Others
Online Sale Card Payments (includes Debit Cards, Credit Cards, Bank Financing Prepaid Cards)
Digital Wallet (includes Mobile Wallets)
Others (includes Cash on Delivery, Bank Transfer, and Buy Now, Pay Later)
By End-user Industry Retail
Entertainment
Healthcare
Hospitality
Other End-user Industries
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Spain Payments Market Research FAQs

What is the current Spain Payments Market size?

The Spain Payments Market is projected to register a CAGR of 9.6% during the forecast period (2025-2030)

Who are the key players in Spain Payments Market?

PayPal, Stripe, Inc., Adyen, 2Checkout and Authorize.net are the major companies operating in the Spain Payments Market.

What years does this Spain Payments Market cover?

The report covers the Spain Payments Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Spain Payments Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Payments in Spain Industry Report

Statistics for the 2025 Spain Payments market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Spain Payments analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.