Payment Methods in Spain 2025: A Guide for Online Merchants

When it comes to making a payment, Spanish consumers prefer using cash and cards. On average, a Spanish adult starts their day with about €60 in cash in their wallet. This figure is pretty close to the eurozone average of €59, according to data from the European Central Bank in 2024.

For example: with a population of over 47 million and a total of around 94 million debit and credit cards, it's like every Spaniard has almost two cards. BIZUM, one of the popular local payment methods in Spain, has more than 25.3 million registered users and has already surpassed 1 billion transactions in 2022. Similarly, BNPL services are also gaining traction among people looking for flexibility in payments. Plus, open banking and direct bank transfers are booming, thanks to instant SEPA transfers. They’re fast, secure, and cheaper for merchants and offer lower fees than card payments, backed by big banks like Santander and BBVA.

Understanding these distinct payment preferences is important for merchants looking to enter Spain's e-commerce market, which is expected to grow to €56.46 billion by 2029.

So, what are the most popular payment methods in Spain? And how can you make sure your checkout process feels familiar and smooth to your Spanish consumers? Let’s dive in.

Spain's Digital Payment Landscape: What Merchants Need to Know

Spanish consumer preferences reflect a blend of different payment methods. Digital wallets and Debit cards maintain their position as the common payment methods in Spain, while alternative payment methods are rapidly gaining ground among tech-savvy consumers.

But here is a reality check: many Spanish consumers do not finalise their online purchases with two main reasons being the price of items and the lack of preferred or trusted payment methods at checkout (source: Gaasly).

Getting payment methods right isn't just about offering what works in other countries — it's about understanding what Spanish consumers actually want to use when they're ready to buy from your store.

Top Six Payment Methods in Spain: The Complete Breakdown

Digital Wallets

Services like Google Pay and Apple Pay are consumer favorites, especially for international shoppers. Bizum is already stealing the show locally with over 20 million users. Digital wallets offer buyer protection and a quick checkout, which shoppers love.

Here is an interesting fact: Almost 1/3 of e-commerce users in Spain preferred to pay for their purchases via wallet. This actually makes sense as it is just a quick tap, and the transaction is done. Enhanced security, speed, and convenience are the factors buyers appreciate.

PayPal

If you want to enter or expand your E-commerce business in Spain, offering PayPal as a payment option is essential to meet consumer expectations and enhance conversion rates. PayPal is among the popular solutions for the category of online payment methods in Spain, as many consumers use it either for online payments or at POS (source: Statista.) The service's global recognition and buyer protection policies resonate strongly with Spanish consumers who prioritise security in their online transactions.

Its strong brand recognition, combined with secure, fast transactions and buyer protection, makes it a reliable choice for Spanish shoppers.

Debit and Credit Cards:

After wallets, debit and prepaid cards are the second most used payment methods Spain, and for good reason. They’re trusted, widely accepted, and many Spanish consumers carry them. Visa and Mastercard are the go-tos, and with mobile wallets like Apple Pay and Google Pay linked to cards, paying is getting even easier.

While debit cards dominate, credit cards remain important for certain customer segments and higher-value transactions. Spanish consumers commonly use both Visa and Mastercard, with American Express having a smaller but notable presence.

Will cards remain as a popular payment method in future? Well, as per Statista data, 39% of payment transactions in Spain involve debit or credit cards in 2024. This combined the 23% for debit/prepaid cards and 16% for credit cards. Looking ahead, card usage in Spain is likely to continue declining beyond 2025, potentially falling below 20%, as e-wallets and open banking gain traction, based on Statista’s 2021-2025 trends.

Buy Now, Pay Later (BNPL)

The Spanish BNPL market size was valued at approximately €1.00 billion in 2023 and is expected to grow to around €8.12 billion by 2030 (a CAGR of 29.3%). In recent years, Spain has seen some traction in the adoption of BNPL services.

Several players such as Klarna (Originating from Sweden), Afterpay (acquisition of Pagantis), SeQura (a local favorite), and Aplazame (another homegrown solution) are offering immediate purchases with deferred payment options, simplifying shopping experiences.

Many shoppers are looking for the option to split payments over time as it helps with budgeting. It also encourages bigger transactions like fashion, electronics, and home goods purchases.

Bank Transfers

Bank transfers have been transformed due to the European Union's Instant Payments Regulation, which became effective in January 2025. Spanish banks will now have to provide instant transfers at the same price as ordinary transfers throughout the SEPA zone, which will make this service much more appealing to companies and individuals.

The timing could not be better for Spanish e-commerce. SEPA Instant Payments now settle the transactions of up to €100,000 within 10 seconds, a change that took effect in 2025. The increase opens up the viability of instant bank transfers for more expensive online shopping, which were previously dominated by credit cards.

Major Spanish banks including Santander, BBVA, CaixaBank, and Banco Sabadell have invested heavily in their instant payment infrastructure. CaixaBank, Spain's largest domestic bank, actively promotes SEPA transfers through its digital banking platform, offering businesses streamlined international payment capabilities across 41 European countries.

Cryptocurrencies

Cryptocurrencies are slightly gaining traction in the Spanish market among individuals and businesses but the regulatory environment has tightened up. In 2024, the Spanish Treasury introduced tax reforms that allow authorities to seize crypto assets to cover tax debts, signaling tighter government oversight. Spanish taxpayers now have to file specific returns for virtual currencies, the reporting obligations came into effect from January 2024.

Despite the regulatory challenges practical adoption is emerging in key sectors. A few Spanish hotels and tourism businesses have been accepting cryptocurrency payments, especially to serve international tourists and avoid high currency conversion fees.

Open Banking

Several factors are driving Open Banking in Spain. First, there’s the Spanish knack for digital tools. 54% of the population uses eIDs and 83% engage with e-government services, according to the Signicat report. This digital literacy will make it easier to adopt new payment technologies.

Secondly, Spain is undergoing a digital transformation. In the 2022 EU Digital Economy and Society Index (DESI), Spain ranked 7th among EU countries, up 5 places from the previous year. It’s a leader in digital public services and is advancing fast in health, digital ID and cybersecurity, ahead of France and Germany which are 12th and 13th respectively.

Third, Spain's approach to standards. While lacking a dedicated national Open Banking framework (unlike the UK's OBIE), over 90% of Spanish banks rely on Redsys as their primary API aggregator. This system uses Berlin Group-compliant APIs to meet PSD2 requirements.

Fourth, Spain was among the first EU nations to adopt the European real-time payment system, SEPA Instant Credit Transfer (SCT Inst). This has helped Bizum, the popular mobile payment platform, capture a major market share of the instant payments market in Spain.

Finally, interest in Open Banking is growing especially among cross-border third-party providers (TPPs) entering Spain. In Q1 2025, Spain had 171 TPPs registered, 157 of which were cross-border providers, just outside the top 5 EEA markets for TPPs along with Belgium, Finland and Poland.

Based on the data presented for various payment methods in Spain, retailers would need to adapt quickly to the changing payments landscape. Relying solely on cards is no longer viable, as the 21% usage rate reflects a shrinking market share. Instead, integrating e-wallets (e.g., PayPal, Bizum) and exploring open banking or A2A transfers—supported by providers like Noda—could align with consumer preferences and reduce transaction costs (e.g., 0.1 - 1% for open banking vs. 2-3% for cards). The sharp drop in card usage also hints at potential dissatisfaction with fees or security concerns (e.g., 3D Secure friction), pushing shoppers toward alternatives.

Noda: Your Open Banking Partner for Spanish Market Success

When it comes to open banking payments in Spain, the right partner makes all the difference. Noda is the leading open banking payment provider, designed to help international merchants succeed in European markets like Spain.

Why Noda is Your Open Banking Ally

• Comprehensive Bank Coverage Across the EU: With connections to 2,000 banks across 28 countries, including all major Spanish banks, Noda opens doors to nearly every shopper out there. Your customers can pay directly from their favourite banking app, no matter which bank they use.
• Instant Payments: Unlike traditional bank transfers that can take days, Noda processes payments in real-time. Your customer completes the purchase in seconds, and you get payment confirmation instantly.
• Unbeatable Cost: With fees as low as 0.1% Noda is much cheaper than traditional card payments. For a business processing €100,000 monthly, this means savings of €2,300 monthly compared to standard card fees.

Let’s calculate this:

• Noda’s Cost: At 0.1%, the fee would be 0.001 × €100,000 = €100.
• Traditional Card Cost: Assuming an average card fee of 2.4% (a conservative midpoint), the fee would be 0.024 × €100,000 = €2,400.
• Savings: €2,400 (card fee) - €100 (Noda fee) = €2,300.
• Seamless Integration: Noda’s API integrates with your existing checkout in a few days. No complex technical implementations or lengthy approval processes – you can start accepting open banking payments from Spanish customers today.
• Advanced Fraud Protection: Bank-level security means zero fraud risk. Payments are authenticated through the customer’s own banking app, eliminating the risk of stolen card details or fraudulent transactions.

How Noda Compares to Payment Gateways

Let’s see how Noda compares to other Payment gateways in Spain:

Imagine launching a new line in Spain. With Noda, you’re up and running in days, offering a checkout that rivals the big players, and keeping more of your hard-earned cash. It’s not just about payments—it’s about building a business that lasts.

Ready to tap into Spain’s e-commerce boom? Sign up with Noda today and start accepting payments that match local tastes, save you money, and grow your business.