Europe is the home market for Checkout.com, which already serves as the payment provider for many of the region's ecommerce businesses, such as Mango, Farfetch, Glovo, and Klarna.
According to the press release, pre-pandemic Southern Europe already demonstrated an ecommerce opportunity with adoption rates of in 58% in Spain, 52% in Italy, and 50% in Greece. Meanwhile, expectations are that penetration in future years will outpace other regions in Europe, as the level of ecommerce adoption still lags behind UK's 82% and Germany's 71% rates.
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