Europe Online Payment Methods 2023

Best Price Guarantee	Length	Publisher	Published Date	SKU
from $3,150	118 Pages	yStats.com	September, 2023	YST18200597

Best Price Guarantee
Price	from $3,150
Length	118 Pages
Publisher	yStats.com
Published Date	September, 2023
SKU	YST18200597

Europe Online Payment Methods 2023

Digital wallets are poised to drive global transactions beyond EUR 10 trillion by 2028: new yStats.com report.

European nations witness shift of consumers from conventional card-based online payment methods to alternative payment methods

As the global cashless era gains momentum, the total transaction value of digital wallets are projected to surge beyond EUR 10 trillion by 2028, at a remarkable CAGR of +12% between 2023 and 2028. Despite digital wallets' rise, Europe's payment landscape remains diverse, with each country showcasing varying preferences. In the Netherlands, iDEAL reigns supreme, constituting 70% of online purchases as of April 2023. Notably, contactless payments have seen widespread adoption, especially among the 25-34 age group, with a preference rate of 77% as of December 2022. Switzerland has become a stronghold for mobile payments, commanding the highest share in both volume (57%) and value (31%) for online transactions as of November 2022. Hungary is witnessing significant progress, with an estimated 80% of online stores now offering payment card and e-wallet solutions like Apple Pay and Simple Pay in 2023. As Europe's online payment market evolves, driven by technological advancements and innovative methods, it promises a dynamic future that shapes the way consumers pay and businesses operate.

Biometric authentication experiences tremendous growth potential as data security becomes a major issue

As consumers worldwide increasingly shift towards using online payment methods, they are also entrusting their financial data to various companies and payment service providers. This trend has resulted in the rise of payment-related frauds and scams, making data privacy and security paramount concerns for stakeholders in the payment industry. Notably, over half of the surveyed consumers expressed discomfort in sharing their financial data for online payments as of April 2023, according to the latest publication from yStats.com. In Germany, most respondents prioritized security and privacy when selecting a payment method, whereas in France, protection of privacy and data emerged as a leading consideration for over three-quarters of respondents during the checkout process. In response to this evolving landscape, payment authorities are actively exploring biometric authentication methods, including fingerprint, iris recognition, and voice recognition, among others, to enhance payment security. Moreover, there is a growing expectation that the future will witness the widespread adoption of digital IDs and virtual cards, further fortifying the safety and security of digital payments.

1. Key Takeaways: Key Takeaways of Europe Online Payment Methods, July 2023 (1 of 2); Key Takeaways of Europe Online Payment Methods, July 2023 (2 of 2)
2. Management Summary
3. Global: Overview of Online Payment Market & Trends, July 2023 (1 of 2); Overview of Online Payment Market & Trends, July 2023 (2 of 2); Value of Contactless Payment Transactions, in USD trillion, 2022 & 2027f; Value of Digital Wallet Transactions, in USD trillion, 2023e & 2028f; Total Number of OEM Pay E-Commerce Transactions, in USD billion, Growth in Transactions, in %, & Average Transaction Volume Per OEM Pay User, in USD, 2026f; Share of OEM Pay Transactions Coming via Purchases of Digital Goods, in %, 2026f; Preferred Online Payment Methods For E-Commerce Purchases, in % of Adults, June 2022; Top Reasons Because of Which Respondents Are Likely to Abandon Checkout, in % of Adults, June 2022; Most Accessible vs Most Preferred Online Payment Method, in % of Adults, June 2022; Share of Consumers Agreeing With the Following Statements Related to Security of Online Payment, in %, April 2023; Share of Consumers Agreeing With the Following Statements Related to Digital and Mobile Wallet, in %, April 2023; Top Consumer Expectations at Checkout When Making Online Purchases, incl. “Payment Methods”, in % of Respondents, October 2022; Preferred Payment Method When Shopping Online, in % of Respondents, October 2022
4. Europe: 4.1. Regional; Overview of Online Payment Market & Trends, July 2023; Payment Methods That Were Used at Least 5 Times a Month, in % of Respondents, September 2022; Breakdown of Digital Wallet Attributes That Respondents Value the Most, in % of Respondents, September 2022; Breakdown of Primary Payment Methods For Online and In-Person Purchase of Large Products and Services, in % of Respondents, September 2022; Breakdown of Primary Payment Methods For Online and In-Person Purchases of Small Items, in % of Respondents, September 2022; Importance of Having the Preferred Payment Method During Domestic or International Online Shopping, in % of Online Shoppers, August 2022; Reasons For Cart Abandonment During Online Shopping, in % of Online Shoppers, August 2022; Breakdown of Number and Value of Online Payments, by Payment Instrument, in % of All Online Payments, June 2022; Breakdown of Online Payments, by Value of Purchase and Payment Instrument, in % of All Online Payments, June 2022; Breakdown of Payment Instruments Used For Online Payments in Terms of Number of Payments, by Countries, in % All Online Payments, June 2022 (1 of 2); Breakdown of Payment Instruments Used For Online Payments in Terms of Number of Payments, by Countries, in % All Online Payments, June 2022 (2 of 2); 4.2. UK; Number of Proximity Mobile Payment Users, in millions, and Penetration Rate, in % of Smartphone Users, 2020-2026f; Share of In-Store Shoppers Who Used Contactless Cards For Payments vs Those Who Used Digital Wallets, in %, October 2022; Share of Respondents Who Used eCash in the Past 12 Months and Stated It as Their Preferred Online Payment Method, in %, April 2023; Share of Respondents Who Used Peer-to-Peer Payment Apps, in %, 2022; Types of Digital Wallets That Were the Primary Means of Payment, in % of Smartphone Users, September 2022; Value of Online Card Spending and Contactless Card Spending, in GBP million, March 2022–March 2023; Volume of Online Card Payments and Contactless Card Payments, in millions, March 2022–March 2023; Online Payment Methods Used vs Those That Were Preferred, in % of Online Shoppers, April 2022; Share of Online Purchases Paid For Using BNPL Services, in %, January 2022 & January 2023; 4.3. Germany; Breakdown of B2C E-Commerce Sales by Payment Methods, in %, 2022; Share of Physical, Contactless and Mobile Transactions, in % of All Card Payment Transactions, 2022; Frequently Used Online Payment Method, in % of Respondents, June 2022; Share of Apple Pay and PayPal Users Who Use the Service Every day or Several Times a Week, in %, June 2022; Most Important Criteria When Choosing Online Payment Method, in % of Respondents, June 2022; Share of Respondents Who Used eCash in the Past 12 Months and Stated It as Their Preferred Online Payment Method, in %, April 2023; Share of Online Shoppers Who Have Used BNPL For Online Shopping, by Age, in %, April 2022; Breakdown of Main Reasons Why Online Shoppers Used BNPL, in %, April 2022; 4.4. France; Online Payment Methods Used vs Those That Were Preferred, in % of Online Shoppers, April 2022; Breakdown of the Usage of Digital Wallet, in % of Smartphone Users, September 2022; Most used Digital Wallets, in % of Smartphone Users, September 2022; Share of Respondents Who Used BNPL to Pay For Their Internet Purchases, in %, 2022; Share of Respondents Who Agree Protection of Privacy and Data is a Leading Factor at Checkout, in %, June 2022; 4.5. Spain; Most Used Payment Method For Purchases or Online Payments in the Past week, in % of Internet Users, August 2022; Breakdown of Most Used Digital Wallets, in % of Smartphone Users, September 2022; Share of the Top Payment Methods Used For Online Payment, in % of Online Transactions, Q1 2023; 4.6. Italy; Value of Digital Payments, in EUR billion, 2021 & 2022; Value of Contactless Payments, in EUR billion, 2021 & 2022; Value of Innovative Payment Methods and Mobile & Wearable Payments Value for In-Store Payments, in EUR billion, 2021 & 2022; Value of Mobile and Wearable Payments for Online Payments, in EUR billion, 2021 & 2022; 4.7. Netherlands; Top 3 Payment Methods Used For Online Purchases, in % of Online Purchases April 2023; Share of Preferred Payment Methods At POS, by Generation, in %, December 2022; 4.8. Switzerland; Share of Payment Instruments in Face-to-Face Transactions, by Turnover and Volume, in % Total Transactions, November 2022; Share of Payment Instruments in Online Transactions, by Turnover and Volume, in % Total Transactions, November 2022; 4.9. Sweden; Preferred Payment Methods Among Respondents, in % of Respondents, March 2022; Preferred Payment Methods Used For E-Commerce, in % of Respondents, March 2022; Share of Access to Mobile Apps For Payments Other Than Swish vs Use of Mobile Apps For Payments Other Than Swish, by Age, in % of Respondents, March 2022; Breakdown of the Use of Contactless Payments, in % of Respondents, October 2022; 4.10. Belgium; Number of Online Payments Made via Bancontact or Payconiq, in billions, 2021 & 2022; 4.11. Norway; Share of Consumers Who Have Used Invoice vs Installment Payment For E-Commerce Payment, in %, October 2022; 4.12. Denmark; Online Payment Methods Used vs Those That Were Preferred, in % of Online Shoppers, April 2022; Preferred Mobile Payment Apps, in % of Respondents, May 2022; 4.13. Finland; Share of Consumers Who Have Used Invoice vs Installment Payment For E-Commerce Payment, in %, October 2022; 4.14. Austria; Share of Respondents Using Contactless Payment With Debit Card, in %, August 2022; Share of Respondents Using PayPal, in %, August 2022; Share of Respondents Who See Digital Euro as a Replacement of Other Payment Methods, in %, August 2022; Breakdown of Payment Methods Consumers Use Already vs Those They Wish to Use in the Future, in % of Respondents, December 2022; 4.15. Russia; Share of Popular vs Preferred Payment Methods Used in B2C E-Commerce, in % of Online Shoppers, 2022; Share of Non-Cash Payments, in % of Total Retail Trade Turnover, Q1 2023; Share of Mir Card, in % of All Card Transactions, Q1 2023; Share of Mir Card, in % of Issued Cards, Q1 2023; 4.16. Poland; Types of Payments Used For Online Purchases, in % of Online Shoppers, June 2022; Types of Payments Used For Online Purchases, by Age in % of Online Shoppers, June 2022; Breakdown of Payment Services Most Commonly Used When Shopping Online, in % of Online Shoppers, June 2022; Share of Online Shoppers Who Are Encouraged to Shop Online Due to Availability of Safer Payment Methods, by Age Group, in %, June 2022; Share of Factors Affecting the Selection of a Given Website For Making Online Purchase, incl. Payment Methods, by Age Group, in % of Online Shoppers, June 2022; Top 5 Factors Affecting Online Shoppers‘ Perception of Credibility of a B2C E-Commerce Website When Purchasing For the First Time, incl. Payment Methods, in % of Online Shoppers, June 2022; Problems Encountered When Making B2C E-Commerce Purchases via Mobile, incl. Payment, in % of Mobile Shoppers, June 2022; Share of Respondents Who Used BNPL to Finance Their Purchases, in %, 2022e; 4.17. Turkey; Number of Domestic E-Commerce Transactions with Domestic Bank Cards, in millions, and Value, in TRY million, Q1 2022-Q1 2023; Number of Cross-Border E-Commerce Transactions with Domestic Bank Cards, in millions, and Value, in TRY million, Q1 2022-Q1 2023; Number and Value of Contactless Mobile Transactions, in millions, and Value in TRY million,; Q1 2022-Q1 2023; 4.18. Portugal; Most Used Payment Method For Purchases or Online Payments in the Past Week, in % of Internet Users, August 2022; Use of Mobile Phone as a Payment Device, by Type of Payment Method, in % of Internet Users, August 222; 4.19. Hungary; Share of Payment Methods Available in Online Stores, in % of Online Stores, 2023e; 4.20. Ukraine; Share of Non-Cash Transactions Using Payment Cards, in % of Total Volume of Transactions With Payment Cards, January 2022 & May 2022; Share of Contactless and Tokenized Payment Cards, in % of All Active Cards, January 2022 & May 2022; Share of Contactless Cards, in % of Active Payment Cards, December 2022; Number and Value of Card Payments and Contactless Payments, in millions & Value in UAH billion, May-December 2022; 4.21. Bulgaria; Share of Payment Methods Used When Paying For Online Purchases, in % of Respondents, April 2022; Share of Respondents Agreeing With Following Statements Related to Security of Online Payments, in %, April 2022; 4.22. Croatia; Breakdown of Payment Methods Used For Making Online Payments, in % of Consumers, October 2022