Europe POS Payment Methods 2020 & COVID-19’s Impact code:1496

Europe POS Payment Methods 2020 & COVID-19’s Impact
OVERVIEW
TABLE OF CONTENTS
COMPANIES MENTIONED
Countries Covered: France, Germany, Russia, UK
Pages: 50
Publication Date: 15/09/2020
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Questions Covered in the report:
  • How did the pandemic affect the consumer preferences for point of sale (POS) payments in European countries?
  • What are the trends of cash vs. cashless payment methods during the pandemic in retail transactions and how does it vary by country?
  • How did the COVID-19 outbreak affect the volume of retail payments in the European region?
  • What are the innovative payment methods used by consumers in Europe during the COVID-19 health crisis?
  • Which countries in Europe changed the use of selected omnichannel and contactless shopping methods compared to before the COVID-19 outbreak?

Key Findings:

The use of digital payments for in-store shopping has surged in Europe due to the COVID-19 pandemic

The COVID-19 outbreak speeds the adoption of digital payment methods in Europe

The payment preference of consumers at the point of sale is being transformed by the COVID-19 pandemic. Several surveys synthesized in the new yStats.com report indicate that European countries are in the process of changing the way they pay during the COVID-19 pandemic. For example, Germany saw double-digit growth in the number of cashless transactions during the pandemic. Furthermore, the reduction in the use of cash in Europe is largely contributed by the concern that cash may spread the virus. Among the alternatives to cash, various other payment methods are preferred by consumers in Europe.

The card payment trend has further strengthened in Europe during the COVID-19 crisis

Besides the traditional cash payment methods, one of the alternative payment methods that European countries saw a spurt during the pandemic is contactless card payments. The acceptance of card payments by merchants as well as consumers was already growing before COVID-19 hit the world and has been accelerated by the outbreak. One of the examples is also included in the yStats.com report that indicates a significant share of users in France were using contactless card payments in January 2020. This trend further increased as a notable percentage of consumers in France increased the use of contactless payments amid the pandemic.

Consumers in Europe have reduced the use of cash when making payments, during the pandemic

Though the move away from cash is a global phenomenon, there are some country and regional variations. The UK has been adopting cashless payments before the pandemic, and this trend further accelerated during the COVID-19 health crisis. However, Germany widely used cash for in-store payments before the COVID-19 outbreak, but according to the yStats.com report, digital payments have recently been on the rise. The publication also includes data on the major economies of the European region that have seen a shift away from cash in payment preference during the health crisis.

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1. Management Summary

2. Global Developments

  • COVID-19 Impact on POS Payment, August 2020
  • Omnichannel Payment Trends, August 2020
  • mPOS Payment Trends, August 2020
  • Total Retail Sales Value Loss Worldwide, by Region incl. North America, in USD billion, 2020f Compared to 2019
  • Total Retail Sales, in USD billion, and Breakdown by E-Commerce and Non-E-Commerce, in %, 2019 & 2020f
  • Changes in Consumer Payment Behaviors Due to COVID-19, in % of Adults, June 2020
  • Share of Consumers in Selected Countries Who Decreased Their Use of Cash for In-Person Payments During COVID-19, in %, by Selected Countries, June 2020
  • Change in Usage of Selected Omnichannel and Contactless Shopping Methods Compared to Before COVID-19, in % of Consumers, July 2020
  • Contactless Payment Limit Increase Due to COVID-19, by Selected Countries, May 2020
  • Average Transaction Value of Contactless Payments at POS, in USD, 2019 & 2024f
  • Changes in Use of Payment Methods by Consumers in Selected Countries During COVID-19, incl. Share of Consumers Who Increased and Who Decreased Their Use, in %, and Net Change, May 2020
  • Proximity Mobile Payment User Penetration, in % of Smartphone Users, by Selected Countries, 2019e
  • mPOS Transaction Value, in USD billion, 2019 & 2024f

3. Europe

3.1. Europe

  • Breakdown of Preferred Payment Methods, by In-Store and Online, in % of Consumers, September 2019
  • Share of Consumers in Selected Countries Who Decreased Their Use of Cash for In-Person Payments During COVID-19, in %, by Selected Countries, June 2020
  • POS Card Transaction Value, in EUR billion, 2018, 2019 & 2020f
  • Payment Revenues Breakdown, by Segment, in %, 2019e, and Expected Impact of COVID-19, 2020f

3.2. Germany

  • Breakdown of Retail Payment Transaction Value at POS by Payment Method, in %, 2019
  • Breakdown of Retail Payment Transaction Number at POS by Payment Method, in %, 2019
  • Average Transaction Value at POS, by Payment Method, 2019
  • Share of Consumers Who Changed Their Payment Behavior at POS During COVID-19, in %, April 2020
  • Year-on-Year Change in Number and Value of Cashless Transactions, in %, May 2020
  • Card Payments Share of POS Payment Value, in %, 2022f
  • Contactless Card Payment Share of Giro Card Payments at POS, in %, Full Year 2019, End of 2019, and During COVID-19 Outbreak/March 2020
  • Consumer Attitudes to Using Cash and Contactless Payments During COVID-19 Outbreak, in %, April 2020

3.3. France

  • Payment Methods Used to Pay for Purchases, in % of Adults, November 2019
  • Innovative Payment Methods Used by Internet Users, in % of Internet Users, January 2020
  • Perception of Innovative Payment Methods, in % of Internet Users, January 2020
  • Change in Usage of Selected Omnichannel and Contactless Shopping Methods Compared to Before COVID-19, in % of Consumers, July 2020

3.4. UK

  • Breakdown of Total Number of Payment Transactions by Payment Method, in %, 2019
  • Contactless Payment User Penetration for Payments Under GBP 30, in % of Consumers, by Contactless Cards and Mobile Payment, in %, 2017 & 2019
  • Contactless Payment Share of Payment Transactions, by Total Transactions, Debit Card Transactions and Debit Card Transactions, in %, 2019
  • Change in Usage of Selected Omnichannel and Contactless Shopping Methods Compared to Before COVID-19, in % of Consumers, July 2020

3.5. Russia

  • Changes in Payment Behavior Due to COVID-19, By Consumers Who Used Cash and Cashless Payments Before COVID-19 and Who Used Cash Payments Only, in %, April 2020
  • Contactless Mobile Payment User Penetration, in % of Digital Payment Users, July 2019 & June 2020
  • Selected Contactless Mobile Payment Apps Used, in % of Digital Payment Users, July 2019 & June 2020
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  • Apple Inc
  • Garmin Ltd
  • Google Payment Corp
  • Samsung Electronics Co Ltd
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