According to the Bank of Spain, the use of payment methods in Spain underwent a significant transformation between 2022–2024. Data from their Economic Bulletin 2025/Q2 shows that cash payments decreased by 9% for in-person purchases, while card payments increased by 4%. For online purchases, card payments saw an 8% decrease. However, electronic payment methods—such as digital wallets—recorded a 5% increase.

This reflects changes to the overall dynamics of payments, which include changes to customer preferences, business acceptance, and the flow of money through financial systems. Understanding current payment trends and adapting to them is important for any business. This article outlines what you should consider when choosing the most suitable payment methods for your business and customers.

What’s in this article?

• What is a payment method?
  
• Most popular payment methods in Spain
  
• How to choose the right payment methods for your business
  
• FAQs about payment methods in Spain
  
• How Stripe Payments can help you accept more payment methods
  

What is a payment method?

A payment method is a system or tool that transfers money to an individual, professional, business, or government agency in exchange for a product or service.

Payment methods are important for performing financial transactions. Because of their importance, Spanish and European institutions have implemented various regulations to govern them, such as the revised Payment Services Directive (PSD2) and Royal Decree Law 19/2018 on payment services.

Most popular payment methods in Spain

Traditionally, the preferred payment method in Spain is cash. In 1971, the first major changes to Spain’s payment system occurred when the Bank of Bilbao (that later became BBVA) introduced the first credit card in Spain. Since then—and as technology evolves—new electronic payment methods have emerged. Currently, businesses in Spain use several traditional and modern methods. Below, we describe some of the most common payment methods in Spain.

Cash

According to the Bank of Spain, 57% of transactions in physical stores in 2024 were paid in cash. Although the percentage remains high, the use of cash is declining. For example, in 2023, cash was used in 65% of transactions, according to the Savings Banks Foundation (Funcas).

There are several reasons why customers are using this payment method less and less. For several years, there has been a limit on cash payments in Spain. In addition, alternative payment methods have been popular for some time and offer a higher level of convenience and security than cash. In fact, the percentage of Spaniards who say they do not regularly carry cash in their wallets doubled from 2023–2024.

Cash on delivery (COD)

This in-person payment method allows customers to pay for orders after receiving them instead of paying in advance. While cash is mainly used for in-person purchases, it is also a valid payment method for ecommerce stores that accept COD.

According to data from the National Observatory of Technology and Society (ONTSI), COD was the eighth most used payment method for online purchases in Spain in 2023.

Bank cards

For online transactions, cards are the most used payment method in various markets. According to Stripe, 48% of online store purchases in Spain are paid by card. This percentage is similar to that of other European countries, such as France (53%) and Italy (42%). The US has a higher figure of 64%.

Statistics from the Bank of Spain confirm that cards are the preferred payment method in ecommerce stores. However, their use in brick-and-mortar stores is only 32%. This is despite having increased by 4% from 2022–2024.

Bank transfers

Transfers between countries in the Single Euro Payments Area (SEPA) allow customers to send money from their accounts to companies’ bank accounts. Before Regulation (EU) 2024/886 was enforced, customers had to pay an additional fee to avoid lengthy processing times for SEPA transfers. However, it is now possible to order instant bank transfers in Spain without paying more.

Bank transfers are the preferred method for paying for large purchases. This is because of shorter processing times and generally lower fees compared to card payments. For example, in the first half of 2024, bank transfers represented over 88% of the total amount of payments made with methods other than cash.

It is worth noting that bank transfers are also frequently used in transactions between individuals. According to the Bank of Spain’s Economic Bulletin 2025/Q2, it is the preferred payment method for 18% of customers.

Direct debit

Unlike transfers—where the customer initiates sending money to the recipient—direct debit allows companies to automatically debit recurring payments from customers’ bank accounts. As a prerequisite, the customer must authorize the company through a SEPA mandate that allows the issuance of bank receipts. This step only needs to be completed once. From there, the company can directly debit the bank account on each due date. Because of this, SEPA direct debits are ideal for companies with recurring revenue models that need to implement periodic billing systems adapted to Spanish regulations.

This payment method offers several advantages for customers and companies. For customers, it offers convenience and a high level of security, making it one of the most popular methods in Spain. For example, 77.5% of recurring payments use direct debit. For companies, greater revenue predictability and reduced administrative burden are the main factors driving its implementation.

Digital wallets

E-wallets or digital wallets allow customers to complete payments conveniently and easily. Customers can use them to pay online without entering card details. They can also pay with digital wallets in physical stores, using mobile devices equipped with near-field communication (NFC) technology and stores’ compatible card readers.

Most digital wallets—such as Apple Pay, Google Pay, and PayPal—save customers’ digital balances and card details, which they can use to complete transactions with a single tap or click. In Spain, this payment method represents 29% of all online payments. However, it is more popular in other European countries—such as Germany, Poland, and Sweden—where digital wallet use exceeds that of cards.

Bizum

Integrated into online banking applications, this payment method allows bank account holders in Spain to send and receive money instantly. According to the Bank of Spain, Bizum represents 95% of instant transfers made within the country.

Initially, this payment method was primarily aimed at transfers between individuals. However, it has expanded in the professional sphere. In 2024, more than 58,000 ecommerce stores accepted payments with Bizum. While it imposes some restrictions—such as maximum transaction amounts—Bizum’s success lies in the advantages it offers to businesses. These include immediate payments and simplified transactions via phone number.

Cryptocurrencies

Cryptocurrencies are digital assets that allow customers to transfer funds without intermediaries. Once purchased through an exchange platform (e.g., Blockchain.com), they are mainly used to issue decentralized payments.

According to the Bank of Spain’s Economic Bulletin 2025/Q2, 9% of Spaniards owned cryptocurrencies in 2024 with 19% using them solely for payments. These percentages will likely increase as significant advances continue. This includes stablecoins, which is a much less volatile type of cryptocurrency because its value is linked to tangible assets, such as conventional currencies. With growing interest in this payment method, more and more businesses have decided to accept payments with stablecoins.

Buy now, pay later (BNPL)

BNPL methods allow customers to purchase products and services without paying the full amount at the time of purchase. In Spain, some of the most popular BNPL platforms are Klarna, seQura, and Alma.

These services defer payments immediately and without interest. For example, in Spain, fees are usually only charged if the customer is late in making payments. These favorable conditions contribute to BNPL methods being used in 5% of online purchases in Spain.

Installment payments

Installment payments allow customers to split the amount of a purchase into several deferred payments. Although they are often associated with BNPL, installment payments include other alternatives. These include credit cards with installment options, private agreements with suppliers, and methods offered directly from businesses, such as the monthly payment option from Amazon.

Business fees for alternative installment payment methods are usually less than for BNPL. However, offering in-house solutions can involve drafting agreements with customers. They can also involve customers paying fees for splitting payments (e.g., as with some credit card installment payments).

How to choose the right payment methods for your business

Payment methods directly affect the customer experience. Choosing the methods that best suit your business is important. The criteria you consider can vary depending on whether you sell online from Spain or in a physical store.

Payment methods for online businesses

If you sell online services, digital products, or other goods over the internet, make sure you support the payment methods your potential customers prefer to increase conversion rates. Keep the following considerations and characteristics in mind when choosing the right payment methods for your business:

• Intuitive operation
  The use of online payment methods must be clear, simple, and fast to avoid confusion and frustration. According to a Stripe study on purchasing processes in Europe, 62% of customers say they abandon purchases if they cannot complete them within two minutes.
  
• Regulatory compliance
  When integrating your chosen payment methods into your payment platform, you must ensure that they comply with current regulations. For example, the Payment Card Industry Data Security Standards (PCI DSS) ensure the protection of cardholder data and the security of payment networks. In addition, the Law on Information Society Services and Electronic Commerce (LSSI) requires payment confirmation for the customer, among other provisions.
  
• Payment security
  To gain customer trust, payment transactions must be processed securely. According to the Bank of Spain’s Economic Bulletin 2025/Q2, security is the second most common reason for Spanish customers to choose new payment methods. To reinforce trust and create a secure checkout experience, you can incorporate card network logos (e.g., Mastercard or Visa) and provide a notice next to the payment form that explains how your website protects customers’ financial information.
  

Currently, several payment methods meet these characteristics and are highly recommended for online businesses. These include credit and debit cards and digital wallets. Stripe Payments allows you to accept these methods in your ecommerce store along with your customers’ preferred ecommerce payment methods. Payments offers more than 100 card-based and non-card payment methods. It also complies with all current regulations to accept payments from customers in more than 195 countries and has the strictest security certificates in the industry.

Payment methods for physical stores

If you sell products or services at a brick-and-mortar store, the ideal strategy to meet customer needs is to combine traditional and electronic payment methods. The following recommendations will help you choose the right methods for your business:

• Speed
  Make sure the payment method allows customers to pay quickly. This way, you can prevent long lines and improve the shopping experience.
  
• Integration with billing software
  To facilitate financial and accounting management tasks, you can integrate payment methods with billing software. Remember that it must comply with the requirements of the Create and Grow (Crea y Crece) Law and the anti-fraud law.
  

One payment method that meets these characteristics and is useful for physical stores is contactless payments via mobile phones. Stripe Payments lets you accept these payment methods and is natively compatible with Stripe Terminal—Stripe’s solution for in-person payments. Terminal offers bankless card terminals that do not depend on strict agreements with banks and can integrate perfectly with your ecommerce store. This way, you can manage all payments—in person and online—from a single platform and offer your customers a unified commerce experience.

FAQs about payment methods in Spain

Can the most popular payment methods in Spain be used for international sales?

Some payment methods—such as cards and bank transfers—can be used for international sales. However, other methods—such as direct debit—can only be used within the SEPA. This includes EU countries and other European countries (e.g., Andorra, the UK, and Switzerland). Some methods are even more local—such as Bizum—which can currently only be used in Spain, Andorra, Portugal, and Italy. It is important to keep this in mind if you are considering expanding your business outside of Spain.

If you decide to export from Spain, remember that payment preferences vary between countries. For example, you can help customers in the Netherlands by accepting iDEAL. This is a popular payment method that is exclusively local and accounts for 69% of digital purchases among Dutch customers. This is similar to BLIK in Poland. It is the most widely used payment method from mobile devices. In Sweden, one of the most popular payment methods is Swish, a tool similar to Bizum developed by banks to facilitate immediate money transfers.

Which payment methods are the most secure?

One of the key objectives of current regulations is to guarantee the security of payment methods. This translates to a high level of protection overall. However, some options go a step further. For example, Bizum has the same security measures as banking applications and complies with European Directive 2015/2366. It is one of the most secure methods. Mobile payment technology typically generates a unique security code for each transaction. This can reduce the risk of fraud and strengthen customer trust. Lastly, card payments are also very secure, especially if payment platforms implement additional measures and protocols, such as payment tokenization.

According to the Bank of Spain’s Economic Bulletin 2025/Q2, security is one of the main features customers consider when using cards and trying new payment methods. This demonstrates the importance of prioritizing security when considering which payment methods your business should accept.

How Stripe Payments can help you accept more payment methods

Stripe Payments allows your online business or brick-and-mortar store to accept various payment methods. It is also ideal for companies that sell products or services through both channels.

Stripe Payments provides a unified, global payments solution that helps any business—from scaling startups to global enterprises—accept payments online, in person, and around the world.

Stripe Payments can help you:

• Optimize your checkout experience: Create a frictionless customer experience and save thousands of engineering hours with prebuilt payment UIs, access to 125+ payment methods, and Link, a wallet built by Stripe.
  
• Expand to new markets faster: Reach customers worldwide and reduce the complexity and cost of multicurrency management with cross-border payment options, available in 195 countries across 135+ currencies.
  
• Unify payments in person and online: Build a unified commerce experience across online and in-person channels to personalize interactions, reward loyalty, and grow revenue.
  
• Improve payments performance: Increase revenue with a range of customizable, easy-to-configure payment tools, including no-code fraud protection and advanced capabilities to improve authorization rates.
  
• Move faster with a flexible, reliable platform for growth: Build on a platform designed to scale with you, with 99.999% uptime and industry-leading reliability.
  

Learn more about how Stripe Payments can power your online and in-person payments, or get started today.