Following this announcement, the findings are part of payabl.’s latest report entitled The State of European Checkouts, and they show that ecommerce is now an essential part for many European shoppers, with 48% shopping online weekly and spending an average of GBP 53 per transaction.
In addition, more than half of customers, representing 53%, are currently open to switching to newer payment methods, with nearly a third (30%) being willing to do so for a faster checkout process. However, while convenience and speed represent a major driver for the take-up of new payment methods, the findings also show that security and trust remain essential for European shoppers when deciding how to pay.
PayPal represents the top online payment method for Europeans, with 50% ranking it in their top three methods, with debit cards (39%) and credit cards (33%) following, and regional preferences vary widely too. In the UK, debit cards currently dominate (63%), while PayPal is the top choice for customers in Germany (71%). In the Netherlands, local method iDeal also takes the lead (39%), underscoring the overall importance for businesses to cater to local payment preferences. At the same time, the UK and the Netherlands are twice as likely to prefer leveraging mobile wallets for online payments as Germany (19% vs 9%).
In addition, clients and consumers cited speed (46%), convenience (44%), and security (41%) as the top reasons for choosing a payment method, more so than habit (21%) or widespread acceptance (29%). This suggests that users are actively choosing their payment methods, not just sticking with what they know. Furthermore, customers are also switching payment methods depending on the context, with 62% saying the value of a purchase influences their choice, while 44% turn to credit cards for high-ticket items, often for the added protection (58%).
For businesses, this presents both a challenge and an opportunity, as it offers the right mix of localised options or risk losing the sale, but also consider promoting new methods, as 53% of consumers say they’re open to trying alternatives, especially when incentivised with cashback, discounts, or loyalty rewards.
An improved checkout experience is a competitive edge, as 43% of consumers say they wouldn’t return to a site after a poor checkout experience, with UK shoppers the least forgiving. The biggest barriers to completion are also unexpected delivery charges and being forced to create an account. Meanwhile, 48% of clients are open to one-click checkouts, but only if the solution is backed by a trusted brand like Visa, Mastercard, or a reputable retailer. A quarter (representing 23%) remain unwilling to use one-click options at all, highlighting the need for choice and transparency.
Furthermore, nearly three-quarters (71%) of consumers will want to slow down the checkout process if it means stronger fraud protection. But there’s also confusion about who holds responsibility, as 44% think it’s on retailers, banks, or processors, 24% believe it’s the consumer, and 32% just aren’t sure.
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