Spain’s Digital Economy Booms: E-commerce and Online Gaming Lead the Way
Spain’s e-commerce sector concluded 2024 with a remarkable €95 billion in revenue, marking a 13.1% increase compared to the previous year, according to the National Commission on Markets and Competition (CNMC). This momentum has continued into 2025.
In the first quarter alone, the Directorate General for Gambling Regulation (DGOJ) reported €398.11 million in gross gaming revenue (GGR) from the online segment, a 13.7% year-on-year increase. Online casinos are proving to be a significant driver of digital spending.
Data from the Bank of Spain’s SPACE 2024 survey confirms that credit and debit cards remain the dominant payment method for online purchases. 51% of online transactions are made using cards, although digital wallets are gaining popularity.
Visa and Mastercard hold a combined market share of nearly 90% in international card circuits, according to the European Court of Auditors. This dominance explains the demand for instant payment gateways among online users.
The Engine of Spain’s New Digital Economy
The rise of virtual entertainment is evident in both macroeconomic indicators and everyday life. Casino operations, slots, and live roulette account for over half of the online gaming revenue, as indicated by the DGOJ report.
To attract an increasingly mobile audience, operators are adopting commonly used payment methods. Casinos that accept VISA have seen a surge in registrations and transactions, thanks to instant deposits and refunds protected by the brand’s chargeback system.
The perceived reliability of card payments, supported by tokenization technologies that cover nearly half of online purchases in Europe, makes cards a favorite among users, while digital wallets continue to attract new users.
The Valencian Community is a key hub in Spain’s digital ecosystem. A recent municipal report on startups reveals 1,517 active technology firms in 2024, providing over 20,000 direct jobs, with a year-on-year growth of 15.45%.
Many of these firms focus on B2B services for gaming platforms, ranging from payment support to cybersecurity, creating a positive cycle of investment and R&D that extends beyond entertainment.
The city of Valencia, which recently inaugurated The Terminal Hub in the port area, aims to attract an additional €7 million in 2025 through this emerging digital economy. The fiscal impact is also significant. The government collected over €1.2 billion in taxes related to online gaming in 2024, a 7% increase from the previous year.
This revenue boost complements the indirect impact on hospitality, marketing, and local IT providers, which support the region’s economic strength. This cultural shift, reflected in screen time statistics and the demand for 1 Gbps fiber connections, reinforces a seamless user experience for browsing, paying, and sharing.
Payment Innovation and Digital Security: From PSD2 to PSD3
Since January 2025, the European Union has mandated that instant bank transfers be free for most Spanish customers. The new regulation, approved by the European Parliament in February, aligns the cost of instant payments with that of traditional transfers.
This is expected to unlock billions of euros temporarily held in the financial system, benefiting Valencian SMEs by reducing their collection cycle. This measure coincides with e-commerce growth of 13% annually.
This technological advancement will be supported by the new Payment Services Directive (PSD3) and the Payment Services Regulation (PSR), with the final text expected by the end of 2024. Following an eighteen-month transposition period, it will take effect in 2026.
PSD3 will require providers to strengthen strong customer authentication, expand open banking coverage, and facilitate automatic refunds in cases of fraud, which is particularly important in the digital entertainment sector.
According to a technical note from Management Solutions, the goal is to close regulatory gaps, stimulate competition, and reduce cross-border fraud in electronic payments.
In parallel, Brussels is finalizing the European Digital Identity Wallet, a cryptographic wallet that will allow citizens to store IDs, driver’s licenses, and payment methods in a single secure environment.
Spain is participating in pilot projects and plans to launch a beta version soon, paving the way for ‘one-click’ registration on gaming platforms that comply with the Gambling Law and the future PSD3.
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