Western Europe Online Payment Methods 2021 code:1531

Western Europe Online Payment Methods 2021
OVERVIEW
TABLE OF CONTENTS
COMPANIES MENTIONED
Countries Covered: Austria, Belgium, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, UK
Pages: 149
Publication Date: 15/06/2021
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Questions Covered in the report:
  • What are the preferred payment methods by online shoppers in Western Europe in 2021?
  • Which factors were considered by consumers in countries of Western Europe when shopping and paying online in 2020?
  • Which online payment methods are expected to be more and less popular for German consumers in the upcoming years?
  • What are the top 3 factors that encourage consumers to try open banking payment method in the United Kingdom in 2021?
  • What online banking payment services were used by adult French consumers for the first time during the lockdown?

Key Findings:

Digital payments are replacing the Western European strong cash preferences: new yStats.com report.

Western European consumers see an alternative to traditional payment methods in mobile payments

In Europe, debit card payments were the most common payment method for online purchases in 2020, closely followed by digital wallets, such as PayPal. In some countries of Western Europe, including Germany and Italy, the latter even was the first choice of online shoppers. Furthermore, despite the strong cash culture in Western Europe for in-store payments, mobile payment adoption increased in the region, especially after the onset of the COVID-19 pandemic. The number of proximity mobile payment users in this part of Europe was predicted to increase steadily by CAGR 6% over the three years from 2020 to 2023. At the same time the preference for cash payments dropped compared to 2020. Moreover, contactless payments gained momentum during COVID-19. For example, in the UK, in 2020, every nine in ten purchases made with a card was contactless. In Germany, online consumers also adopted contactless payments quite rapidly, and two-fifths of them expressed annoyance in 2020 when a contactless alternative was not available.  Furthermore, in the Netherlands, the share of contactless payments is also growing year by year, and in 2020, it constituted more than half of the total transaction value.

BNPL steadily wins the market share in Western Europe

During the COVID-19 pandemic, also the Buy Now Pay Later gained in popularity in Western Europe. As of 2020, on average, one-fifth of merchants in select European countries offered the BNPL option, with “growth mindset” businesses even more likely to do so. Moreover, on a country level, almost half of German 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 the next 12 months, according to surveys referenced in the yStats.com report.

Local online payment providers dominated the market in some Western European countries

Regarding the online payment service providers, these varied on the country level in Western Europe. However, there were some definite country-specific leaders. As such, in Belgium, Bancontact online services accounted for half of all B2C E-Commerce payments in 2020 and Swedish Swish was preferred by one-fifth of the Internet users in the country for online payments, according to recent research cited by yStats.com.

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1.Management Summary

2.Global Developments

  • Top Online Payment Methods, in % of Respondents, August 2020
  • Top Payment Methods Consumers Consider Using In the Next Year, in % of Consumers, March 2021
  • Top Payment Methods Available, by B2C and B2B, in % of Payment Decision-Makers, 2020
  • Share of Mobile Commerce Transaction Value, in % of Overall E-Commerce Transactions Value, 2021e & 2025f
  • Share of QR Code Payments, in % of All Digital Wallet Transactions, 2020 & 2025f
  • Perception of Cryptocurrency, in % of Millennial Customers, March 2021
  • Top Payments Methods For Fraud Actions, in % of Fraud & Payment Professionals, August 2020
  • Value of Losses Due to E-Commerce Fraud, in USD billion, 2020 & 2021e
  • Number Of Users Making Payment With Facial Recognition, in billions, 2020 & 2025f
  • Number Of Users Who Will Be Confirming Transactions With Voice Recognition, in millions, 2020 & 2025f
  • Share of Online Consumers, by Likelihood Of Switching To A Digital-Only Bank, in % of Respondents, December 2020

3.Europe

3.1.Regional

  • Overview of Online & Mobile Trends, June 2021
  • Overview of News About Payment Industry Players, June 2021
  • Overview of The Council of the European Union’s Plans Regarding Payment System, June 2021
  • Profile of Real-Time Payments, and Objectives of the European Commission for 2021, June 2021
  • Values of real-time Payments, in USD trillion, and Share of West Europe in the World’s Total, in %, 2020 & 2025f
  • Share of SCT Inst in All SEPA Credit Transfer Transactions, October 2019 – September 2020
  • Average Daily Transaction Value via RT1 Real-Time Payments, in EUR million, and Month-on-Month Change, in %, January 2020 – November 2020
  • Top Payment Methods Preferred, in % of Respondents, September 2020
  • Breakdown of Payment Methods Preferred When Shopping Online, in % of Consumers, by 12 Selected Countries, May 2020
  • Breakdown of Select Payment Methods Offered by Merchants, by “Growth” and “Non-Growth” Mindsets of Merchants, in %, September 2020
  • Consumers Who Shopped Online Via Mobile Phone/Tablet At Least Once, by 12 Selected Countries, in % of Consumers, May 2020
  • Payment Behaviors When Shopping In Stores Impacted by COVID-19, in % of Respondents, September 2020
  • Consumers Who Were Willing To Share Their Data, by Country, in % of Consumers, March 2020
  • Breakdown of Organizations Where Consumers Share Their Personal Data, by the Degree of Willingness, in % of Consumers, March 2020
  • Proximity Mobile Payment Users, in millions, and Year-on-Year Change, in %, 2019 – 2023f

3.2.Western Europe

3.2.1.UK

  • Breakdown of Payment Methods Preferred When Shopping Online, in % of Consumers, May 2020
  • Share of Contactless Card Payments Made In Stores, in % of Card Payments, 2020
  • Top Preferred Payment Methods, in % of Consumers, January 2021
  • Breakdown of Credit and BNPL Providers Used, in % of  Respondents, October 2020
  • Value of Debit Card Spending, in GBP billion, July 2019 & July 2020
  • Value of Credit Card Spending, in GBP billion, July 2019 & July 2020
  • Value of Faster Payments via Pay.uk, in GBP billion, and Year-on-Year Change, in %, December 2019 – December 2020
  • Shares of Faster Payments in Total Payments, in %, November 2019 & November 2020
  • Cryptocurrency Adoption Rates, by Age Groups, in % of Current and Previous Cryptocurrency Owners, December 2018 & December 2019
  • Use of Cryptocurrencies, in % of Current and Previous Cryptocurrency Owners, December 2019
  • Breakdown of Adults’ Attitudes Towards the Potential Increase of The Limit for Contactless Transactions, in %, February 2021
  • Top 3 Factors To Encourage Consumers To Try Open Banking Payment Method, in % of Online Shoppers, January 2021
  • Share of Consumers Who Did not Complete a Payment Online, in%, & Top Reasons for Not Completing a Payment Online, in % of Online Shoppers, January 2021

3.2.2.Germany

  • Breakdown of E-Commerce Payment Methods, in % of E-Commerce Sales, 2020e
  • Breakdown of Payment Methods Preferred When Shopping Online, in % of Consumers, May 2020
  • Breakdown of Preferred Payment Methods, in % of Internet Users, December 2020
  • Top Preferred Payment Methods, by Age Groups, in % of Internet Users, December 2020
  • Top Preferred Payment Methods, in % of Consumers, January 2021
  • Breakdown of Preferred Payment Methods in Cross-Border B2C E-Commerce, incl., PayPal, Visa Credit Cards and MasterCard, in % of Online Retailers, Q1 2020
  • BNPL Adoption Rate, in % of Respondents Aware of BNPL, and Breakdown of Respondents Attitude Towards BNPL Usage in the Future, by Consumer Type, in % of BNPL Users, 2020
  • Breakdown of the Channels of the Last BNPL Payment, and the Potential BNPL Channel, in % of Respondents, 2020
  • Top Payment Methods Offered in Online Stores, in % of Online Retail Store Owners, February 2021
  • Breakdown of Payment Methods Offered in Online Stores, by Size of Enterprises, in % of Online Retail Store Owners, February 2021
  • Share Online Retail Store Owners Who Plan and Do not Plan to Offer Additional Payment Methods in the Future, in %, February 2021
  • Breakdown of Payment Methods That Will be More or Less Popular Among Customers in the Upcoming Years, by Decrease and Increase in Popularity, in % of Online Retail Store Owners, February 2021
  • Breakdown of Payment Methods That Will be More or Less Popular Among Customers in the Upcoming Years, by Decrease and Increase in Popularity, in % of Online Retail Store Owners, February 2021
  • Top Drivers of Sharing Personal Financial Data With a Primary Bank/Third Party Provider, in % of Internet Users, December 2020
  • Top Factors to Consider Sharing Financial Data With a Bank/Third Party Provider, in % of Internet Users, December 2020
  • Attitudes of Consumers Towards 2-Factor Authentication, August 2020
  • Top Factors Considered When Shopping & Paying Online, in % of Respondents, August 2020
  • Breakdown of Attitudes Towards a New EU Regulation for Online Payments, in % of Respondents, August 2020
  • Breakdown of Additional Authentication Types When Paying Online, in % of Respondents, August 2020
  • Online Banking Services Used For the First Time During Lockdown, in % of Adults, June 2020
  • Share of Adults Who Considered Annoying Not Being Able to Use Contactless Payment, in %, June 2020
  • Top Innovative Contactless Payments Emerged During COVID-19, in % of Adults, June 2020

3.2.3.France

  • Breakdown of Payment Methods Preferred When Shopping Online, in % of Consumers, May 2020
  • Top Preferred Payment Methods, in % of Consumers, January 2021
  • Online Banking Services Used For the First Time During Lockdown, in % of Adults, June 2020
  • Share of Adults Who Considered Annoying Not Being Able to Use Contactless Payment, in %, June 2020
  • Top Innovative Contactless Payments Emerged During COVID-19, in % of Adults, June 2020

3.2.4.Spain

  • Breakdown of Payment Methods Preferred When Shopping Online, in % of Consumers, May 2020
  • Payment Methods Used For Online Purchases, in % of Respondents, 2019 & 2020
  • Online Banking Services Used For the First Time During Lockdown, in % of Adults, June 2020
  • Share of Adults Who Considered Annoying Not Being Able to Use Contactless Payment, in %, June 2020
  • Top Innovative Contactless Payments Emerged During COVID-19, in % of Adults, June 2020
  • Share of Consumers Who Purchased and Did not Purchase Via a Mobile or a Tablet In the Last 12 Months, in %, 2019 & 2020
  • Share of Factors Valued the Most in Online Payments, in % of Respondents, 2019 & 2020

3.2.5.Italy

  • Breakdown of Payment Methods Preferred When Shopping Online, in % of Consumers, May 2020
  • Value of Contactless Payment Transactions, in EUR billion, 2018 – 2020
  • Value of Mobile & Wearable Payment Transactions In Stores, in EUR billion, 2019 & 2020
  • Value of Mobile Payment Transactions Outside the Store Transactions, in EUR billion, 2016 – 2020
  • Online Banking Services Used For the First Time During Lockdown, in % of Adults, June 2020
  • Share of Adults Who Considered Annoying Not Being Able to Use Contactless Payment, in %,June 2020
  • Top Innovative Contactless Payments Emerged During COVID-19, in % of Adults, June 2020

3.2.6.Netherlands

  • Breakdown of Preferred Payment Methods, in % of Respondents, 2019 & 2020
  • Breakdown of Payment Methods Preferred When Shopping Online, in % of Consumers, May 2020
  • Volume of Payment Transactions, by Credit Card, Debit Card and Cash, in billions, 2010 – 2020
  • Value of Payment Transactions, by Credit Card, Debit Card and Cash, in EUR billion, 2010 – 2020
  • Breakdown of Transactions Value, by Payment Methods, in % of Total Transactions Value, 2015 – 2020
  • Share of Top 3 Payment Methods, incl. Online Purchases & Spending, in % of Total Local & Cross-Border Market Share, 2020e
  • Share of Real-Time Payments in Total Single Credit Transfers, in %, November 2020
  • Volume of Real-Time Payments, in thousands, February 2019 & October 2020

3.2.7.Switzerland

  • Breakdown of Preferred Payment Methods, in % of Internet Users, December 2020
  • Top Preferred Payment Methods, by Age Groups, in % of Internet Users, December 2020
  • Breakdown of Payment Methods Used for Online Purchases, in % of Respondents, December 2020
  • Breakdown of Reasons to Choose an Online Payment Methods, in % of Respondents, December 2020
  • Value of Real-Time Payments via the Swiss Interbank Clearing (SIC) System, In CHF billion, and Year-on-Year Change, in %, January 2020 – October 2020

3.2.8.Sweden

  • Breakdown of Preferred Payment Methods, in % of Internet Users, December 2020
  • Top Preferred Payment Methods, by Age Groups, in % of Internet Users, December 2020
  • Breakdown of Payment Methods Preferred When Shopping Online, in % of Consumers, May 2020
  • Project 27 Overview, June 2021
  • Share of Daily Real-Time Payments via the Bankgirot System, in % of Total, 2020
  • Number of Processed Transactions in the Bankgirot Real-Time Payment System, in millions, and Year-on-Year Growth, in %, January 2020 – November 2020

3.2.9.Belgium

  • Breakdown of Payment Methods Preferred When Shopping Online, in % of Consumers, May 2020
  • Top Payment Methods When Shopping Online, in %, H1 2020
  • Share of Respondents Aged 65-74 Year Old Who Made Contactless Payment At Least Once, in %, 2020 & 2021
  • Share of Respondents Who Paid Via Smartphone At Least Once, in %, 2020 & 2021
  • Share of Respondents Who Purchased Online Via a Mobile Device In the Last 12 Months, in %, 2019 & 2020
  • Breakdown of Shopping Channels To Be Considered In the Future When Purchasing New Products/Services Online, in % of Respondents, April 2020

3.2.10.Norway

  • Breakdown of Payment Methods Preferred When Shopping Online, in % of Consumers, May 2020
  • Breakdown of Preferred Payment Methods, in % of Internet Users, December 2020
  • Top Preferred Payment Methods, by Age Groups, in % of Internet Users, December 2020

3.2.11.Denmark

  • Breakdown of Preferred Payment Methods, in % of Internet Users, December 2020
  • Top Preferred Payment Methods, by Age Groups, in % of Internet Users, December 2020
  • Breakdown of Payment Methods Preferred When Shopping Online, in % of Consumers, May 2020

3.2.12.Finland

  • Breakdown of Preferred Payment Methods, in % of Internet Users, December 2020
  • Top Preferred Payment Methods, by Age Groups, in % of Internet Users, December 2020
  • Breakdown of Payment Methods Preferred When Shopping Online, in % of Consumers, May 2020

3.2.13.Austria

  • Breakdown of Preferred Payment Methods, in % of Internet Users, December 2020
  • Top Preferred Payment Methods, by Age Groups, in % of Internet Users, December 2020
  • Breakdown of Payment Methods Used for Online Purchases, in % of Respondents, December 2020
  • Breakdown of Reasons to Choose an Online Payment Method, in % of Respondents, December 2020
  • Top Internet Fraud Cases, in % of Respondents, November 2020
  • Factors That Would Make Online Shoppers Feel More Secure About Online Shopping, in % of Respondents, November 2020

3.2.14.Portugal

  • Payment Methods Preferred in E-Commerce, in % of Online Shoppers, 2020
  • Online Banking Services Used For the First Time During Lockdown, in % of Adults, June 2020
  • Share of Adults Who Considered Annoying Not Being Able to Use Contactless Payment, in %, June 2020
  • Top Innovative Contactless Payments Emerged During COVID-19, in % of Adults, June 2020
Read More
  • Amazon Pay
  • American Express
  • Apple Pay
  • Bancontact
  • Bankgirocentralen
  • Bankgirot
  • Checkout.com
  • Clearpay
  • Crossinx GmbH
  • Danske bank
  • Glovo
  • Google Pay
  • Handelsbanken
  • Ingenico
  • Klarna
  • LayBuy
  • Mango
  • MasterCard
  • Nordea
  • Nuapay
  • OP Financial Group
  • Openpay
  • PayPal
  • Robinhood
  • SEB
  • Sentenial
  • Splitit
  • Stripe
  • Swedbank
  • Unifiedpost Group
  • Veepee
  • Vipps
  • Visa
  • farfetch
  • iDeal
Read More

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