DUBLIN–(BUSINESS WIRE)–The “Online Payment Methods in Western Europe 2022” report has been added to from ResearchAndMarkets.com offer.
The latest publication titled “Western Europe Online Payment Methods 2022” provides an overview of the online payment market in the Western Europe region, through key figures, forecasts and trends.
Payment method preferences vary by region
Online payment methods have materialized in Western Europe, with debit/credit cards and PayPal being preferred for B2C e-commerce purchases in many countries in the region. However, there are variations in the use and preferences of online payments from country to country. For example, invoice is a popular payment method in Germany and Sweden, while in Denmark online shoppers often choose to pay by bank.
Payment security, convenience and speed are the main factors affecting the use of different online payment methods in Western Europe, according to surveys referenced in the yStats.com report.
PayPal has a significant presence in Western Europe
PayPal holds strong positions in the online payments market in Western Europe. In Germany, it has almost equal market share to invoice and ranks among the top 3 online payment methods in most other markets. In the UK, PayPal is strengthening its presence in the market with the new Buy Now Pay Later (BNPL) service “PayPal Credit”. Overall, BNPL is a major payment trend gaining traction in Western Europe and globally, the yStats.com report reveals.
Local online payment providers are widely used in some Western European countries
Despite the dominance of cards and PayPal, there are several major local payment methods that hold significant market shares in a number of Western European markets, as the yStats.com report shows. These include iDEAL in the Netherlands, with a high double-digit share of B2C e-commerce sales in 2021.
Another example is a mobile payment app Vipps in Norway, ranked second after cards in terms of usage by online shoppers. Local cards and interbank systems such as Bancontact/Payconiq in Belgium and Multibanco in Portugal are also among the main online payment methods used in these countries.
Main topics covered:
1. Management Summary
2. Global developments
3.2. Advanced Markets
Argos store card
Legal and general
Point of payment
For more information on this report, visit https://www.researchandmarkets.com/r/c4q6jv