Apple Pay, Masterpass and Google Pay Dominate in 2021

DUBLIN, June 24, 2021 /PRNewswire/ — The “Europe Online Payment Methods 2021” report has been added to ResearchAndMarkets.com’s offering.

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“Europe Online Payment Methods 2021” provides insights into the current state and advances of the online payment market in the European region. Among other findings, the publication reveals that despite consumers in Europe still tending to choose traditional payment methods for online shopping, there were some others that gained special attention during the COVID-19 health crisis.

Cards and digital wallets are still the most used online payment methods in Europe

Despite the acceleration of various alternative payment methods during the COVID-19 pandemic, European consumers still tend to choose more traditional ones when it comes to online shopping. With that, credit and debit cards are the first choice in many markets in the regions. However, in some markets, E-Wallets even outpaced cards. This was the case, for example, in Germany, Italy, and Poland, according to recent research cited.

Alternative means of payment such as Buy Now Pay Later also are gaining in popularity. In Europe, on average, one in five merchants in select European countries offered the BNPL option in 2020, with “growth mindset” businesses even more likely to do so. Moreover, on a country-level, in Germany, about half of consumers who were aware of the existence of this payment method in 2020, had already used it, and around one-third were planning to use it in 2021. Payments using cryptocurrency are developing rather slowly in Europe, however, there are still some signs of an upward trend in usage in the future.

Security, convenience, and speed of payment were the top requirements for payment providers

For the European online shoppers, three factors played a special role in selecting a payment method: security, simplicity, and speed of payment, according to surveys referenced in the report. Moreover, for shoppers from Germany and Spain, security was the top requirement among payment providers, whereas digital buyers from the UK appreciated the ease of payment and convenience the most.

Report Coverage

This report covers the online payment market in Europe. It takes into account a wide definition of online payment, including payment methods used in online shopping and mobile payment, such as remote and proximity payments.
The major countries in the region are covered, while data availability varied across the markets.
The report includes data mostly published within the previous 12 months. The exact date of publication of the source is stated on each chart. The time period which the data refers to differs by source.

Report Structure

The global chapter opens the report, featuring an overview of global online and mobile payment developments.
Next, information about regional development and country comparisons are included.
The rest of the report contains country-specific information. Countries are grouped by advanced and emerging markets. Within each group, the countries are presented in the descending order of B2C E-Commerce sales.
Depending on data availability, the following types of market information are included: payment methods most used by online shoppers, breakdown of ECommerce sales by payment methods, trends in online payment security and fraud, number and value of online/mobile payment transactions, mobile payment user penetration and consumer awareness of innovative payment means. Not all the mentioned types of information are available for each of the covered countries.

Companies Mentioned