Payment methods

Online Payment Methods in Europe 2021: Buy Now and Pay Later Options Growing in Popularity – ResearchAndMarkets.com

DUBLIN – (COMMERCIAL THREAD)–The “Online payment methods in Europe 2021” report was added to ResearchAndMarkets.com offer.

“Europe Online Payment Methods 2021” provides an overview of the current state and developments in the online payment market in the European region. Among other findings, the publication reveals that although European consumers still tend to choose traditional payment methods for their online purchases, others have received special attention during the COVID-19 health crisis.

Cards and digital wallets remain the most widely used online payment methods in Europe

Despite the acceleration of various alternative payment methods during the COVID-19 pandemic, European consumers still tend to choose more traditional payment methods when it comes to shopping online. With this, credit and debit cards are the first choice in many region markets. However, in some markets, e-wallets have even overtaken cards. This was the case, for example, in Germany, Italy and Poland, according to recent research cited. Alternative payment methods such as Buy Now Pay Later are also growing in popularity. In Europe, on average, one in five traders in some European countries offered the BNPL option in 2020, with companies with a “growth mindset” being even more likely to do so. In addition, nationally, in Germany, around half of consumers who were aware of the existence of this payment method in 2020 had already used it, and around a third planned to use it in 2021. Payments using the payment method Cryptocurrency are developing quite slowly in Europe, however, there are still signs of an upward trend in use going forward.

Security, convenience and speed of payment were the main requirements of payment providers

For European online shoppers, three factors played a particular role in choosing a payment method: security, simplicity and speed of payment, according to surveys referenced in the report. Additionally, for buyers from Germany and Spain, security was the top requirement for payment providers, while digital buyers in the UK valued ease of payment and convenience the most.

Cover of the report

  • This report covers the online payment market in Europe. It takes into account a broad definition of online payment, including payment methods used in online shopping and mobile payment, such as distance and proximity payments.

  • Major countries in the region are covered, while data availability varies by market.

  • The report includes data released mostly within the past 12 months. The exact date of publication of the source is indicated on each map. The time period to which the data refer differs depending on the source.

Structure of the report

  • The Global Chapter opens the report, providing an overview of global developments in online and mobile payments.

  • Then, information on regional development and country comparisons are included.

  • The rest of the report contains country specific information. Countries are grouped by advanced and emerging markets. Within each group, countries are presented in descending order of B2C E-Commerce sales.

  • Depending on data availability, the following types of market information are included: payment methods most used by online shoppers, distribution of e-commerce sales by payment method, security and fraud trends of online payments, number and value of online / mobile payment transactions, mobile payment user penetration and consumer awareness of innovative payment methods. Not all of the types of information mentioned are available for each of the countries covered.

Companies mentioned

  • Alfa Bank

  • American Express

  • Apple Pay

  • Bancontact

  • Blik

  • Checkout.com

  • Crossinx GmbH

  • Danske Bank

  • Pay FitBit

  • Germin Pay

  • Google pay

  • Handelsbanken

  • Engineer

  • Klarna

  • MasterPass

  • MTS Silver

  • N26

  • Nordea

  • Nuapay

  • OP Financial Group

  • Pay Pal

  • PayU

  • Przelewy24

  • QIWI

  • Raiffeisen Bank

  • Robin Hood

  • Rocketbank

  • russian standard

  • Samsung Pay

  • Sberbank

  • Seb

  • SkyCash

  • Bandaged

  • Swedish bank

  • Tinkoff

  • Unified post

  • VIPPS

  • Visa

  • VK Pay

  • VTB

  • Yandex.Noney

For more information on this report, visit https://www.researchandmarkets.com/r/ix1axl


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