Payment through mobile devices on the rise in Europe -report

Monday 9 December 2013 07:38 CET | News

Use of mobile devices in online as well as traditional retail purchases is growing in European nations along with other areas of the world, a recent report has revealed.

According to a recent report entitled ‘Europe Online Payment Methods 2013 – Second Half 2013’ released by Germany-based secondary market research company, the share of alternative payments in Europe, including mobile and e-wallets, is forecasted to gradually increase from just 1% of total payments in 2010 to a double digit share in 2020. Mobile banking is gaining in popularity throughout Europe. The highest mobile banking penetration in Europe is in Turkey, Spain and the Netherlands, and online banking penetration (above 80%) is the highest in Norway, Finland and the Netherlands.

Mobile payments are increasing with slightly above 10% of consumers using mobile payments in parking or ticketing terminals and POS at least once in 2012. In Austria and Switzerland, the majority of online shoppers used invoice to pay in online shops, with credit cards in second place.

Also, the report revealed that online payment acceptance continues in the Western Europe sub-region, where the value of mobile payment transactions is expected to grow by half in 2013 over last year. In the UK, online shoppers are increasingly paying with debit cards, with online debit card spending overtaking that of credit card in 2012. Regarding mobile payments, around two thirds of consumers in the UK have not yet used it, but have heard of it, and slightly above 10% used it at least once.

In France, the potential of mobile payment is indicated in that several millions of NFC capable mobile devices are in use and over 100,000 retail stores had NFC terminals by September 2013.

Among other countries of Western Europe, in Italy credit card is expected to remain the dominant payment method in B2C e-commerce through 2013, though the value of mobile payment transactions, including remote payments and m-commerce, got close to EUR 1 billion last year.

Online and mobile payment increased in Eastern Europe also. Online payments in Russia are close to reaching EUR 10 billion in 2013, growing by at double digit growth rates. Cash on delivery prevailed as a payment method in B2C e-commerce, used by over half of online Russian shoppers in 2013.

Finally, the report revealed that the number of mobile banking users in Turkey doubled between 2012 and 2013.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: payment, mobile devices, m-payment rises, Europe, report
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce