96% of European brands to offer embedded payments soon

Tuesday 14 December 2021 14:25 CET | News

As a report from OpenPayd has found out, 96% of European brands will (or plan to) offer embedded payments within five years.

According to the report, nearly all companies surveyed said they were planning to offer embedded payments to customers in the next five years or are seriously thinking about doing so, edging out embedded banking (94%), short-term lending (69%) and embedded insurance (69%).

73% of the European brands plan on launching embedded financial services within the next two years and the embedded payments will be the mechanism of choice. In total, embedded payments services are expected to generate EUR 277.46 billion of revenue in Europe over the next five years. Brands are already investing heavily in embedded payments with almost a quarter (22%) having embedded payments in development and three quarters expecting to take products to market within the next two years.

This research on embedded payments reveals some detail about implementation too, with businesses pinpointing one key success factor in rolling out an embedded payments offering - curating customers’ journeys. According to the brands surveyed, the three most appealing aspects of embedded finance are: retaining the front-end customer experience (85%), increasing the number of customers touchpoints with their brand (84%) and offering mobile wallet or current account options to customers (79%).

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: report, embedded payments, embedded finance, customer experience
Categories: Payments & Commerce
Countries: Europe
This article is part of category

Payments & Commerce