Cards dominate the 2014 European payment market overview

Monday 1 December 2014 10:11 CET | News

Among other payment methods, credit and debit cards were the most present on the European payments market, a recent research shows.

According to a Research and Markets report, in 2014, UK was dominated by credit and debit cards in terms of payment methods, with a quarter of online shoppers dropping the purchasing process if their preferred payment method was not offered.

The report also indicates that in Germany, PayPal and express checkout methods were gaining a larger share of B2C ecommerce payments in H2 2014, and Amazon offered Login and Pay method. Invoice remained the leading payment method in German B2C ecommerce sales, while PayPal increased its share.

The study shows that the payment method used the most by online shoppers in France was bank card at the beginning of 2014, followed by online payment service.

In many other Western European markets, including Italy and Spain, credit card remained the dominant method. However, several countries have own specifics: in the Netherlands, for example, local banking method iDEAL accounts for more than half of all online purchases and in Sweden payment against invoice is used more than credit card in B2C ecommerce.

In Russia, cash remained the most used payment method in online shopping, while alternative payments showed dynamism in H2 2014. While cash-on-delivery remained the most used payment method, half of internet users already have experience with online payments and a significant share plans to do so more.

In other Eastern European markets, including Hungary, Romania and Belarus, cash-on-delivery is the most used method. However, there are also exemptions to this trend: in Turkey card payment dominates and grew in the first three quarters of 2014.

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Keywords: cards, European payment, online shoppers, payment methods, alternative payments
Categories: Payments & Commerce
Countries: World
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