Europe Online Payment Methods: Second Half 2017

  • ID: 4471229
  • Report
  • Region: Europe
  • 114 pages
  • yStats GmbH & Co. KG
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Payment Security a Concern for Online Shoppers in Europe According to New Report

FEATURED COMPANIES

  • Adyen
  • Computop
  • Google
  • Klarna
  • MobilePay Denmark A/S
  • PayU
  • MORE

“Europe Online Payment Methods: Second Half 2017” is part of a series of reports about online and mobile payments. The check-out choices of shoppers in 20 European nations are highlighted in this report, which also points out a growing concern about payment security.

The online payment methods landscape in Europe remains dynamic, as B2C ECommerce sales continue to grow across the region and new payment regulations are adopted. The revised Payment Services Directive (PSD2) becomes applicable in the EU from January 2018, with some of the major consequences expected to be increased competition in European payments, the emergence of innovative payment solutions and better security for consumers. Safety of the payment process in online and mobile shopping remains a major concern for digital buyers in Europe. According to a recent survey cited in this publication, the share of Internet users in the EU who were concerned about security of payment online increased by several percentage points over the past four years and was the highest in countries such as Ireland, Luxembourg and Spain.

The security of payment information also influences the choice of payment methods when consumers in Europe make purchases online. In Spain, for example, close to twothirds of online shoppers named security as the top criterion for choosing a method to pay online. Digital wallets such as PayPal were the most popular way to pay for digital purchases in Spain, as they were in multiple other countries including Germany, Ireland, Italy, and others. Overall, on regional average, digital wallets ranked ahead of international credit cards such as Visa or Mastercard in terms of online shoppers’ preference, according to results of a survey conducted in 2017 and cited in the report. In Eastern European countries, such as Czech Republic, Hungary, Romania and Russia, cash on delivery was still one of the most popular payment methods as of 2017.

Mobile payment methods also continue to evolve across the region. In Denmark, for example, MobilePay has become the second most popular payment method used by online shoppers, while online shoppers in Sweden ranked mobile payment solution Swish as the easiest and fastest way to pay online, according to research cited by the research. The two Scandinavian countries, along with Norway and the UK are also expected to have the highest share of smartphone users making mobile payments in-store in 2018.

Payment methods are evolving as new regulations are enacted and online retail shopping continues to spread, while traditional methods of credit card payment in Western Europe and cash on delivery in Eastern Europe give way to innovative methods like PayPal or other digital wallets. One driving force for change is the concern throughout the region about payment security. Surveys from several countries cited in this report point to security as a major factor determining consumers’ choice of online payment methods.

Online shoppers in multiple European countries, including Spain, Germany, and Italy have made digital wallets a leading online payment method. In Eastern Europe, cash on delivery persists even as digital wallets and other innovative payment methods make inroads. Among those innovative methods seeing growing acceptance is the use of mobile wallets, as the report shows. MobilePay is the second most popular online payment method in Denmark, and other northern European countries also see increased use of smartphones as a payment method for online as well as in-store purchases.

Questions Answered in this Report

  • What were the leading online payment methods in Europe 2017?
  • How do payment preferences of online shoppers in Europe vary across 20 markets?
  • What are the key payment trends in Europe?
  • How important is payment security to European online shoppers?
  • What is the current state and the prospects of mobile payments in Europe?
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FEATURED COMPANIES

  • Adyen
  • Computop
  • Google
  • Klarna
  • MobilePay Denmark A/S
  • PayU
  • MORE

1. Management Summary

2. Global Developments
Breakdown of E-Commerce Sales by Payment Methods, in %, 2021
Top Two Payment Methods Preferred in Cross-Border Online Shopping, in % of Cross-Border Online Shoppers, 2016 & 2017
Penetration of Bank Account Holders Willing to Share Personal Financial Data with Third-Party Providers to Use Their Services, in %, by Selected Countries, August 2017
Share of Internet Users Who Believe that Mobile Payment is Not Secure, October 2016
Mobile Payment User Penetration, in % of Internet Users, by Regions, Q4 2015 & Q2 2017
Apple Pay User Penetration Compared to Overall Mobile Payment User Penetration, in % of Internet Users, by Penetrated Markets, Q2 2017
FinTech Adoption Rate, in % of Internet Users, by Selected Countries, 2017
Most Used FinTech Services According to Internet Users, in %, 2017
Most Relevant Emerging Technologies for Large FinTech and Financial Companies to Invest In, in % of Respondents in Each Group,  April 2017
Top 10 VC-Backed FinTech Unicorns by Valuation, in USD billion, Q3 2017

3. Europe

3.1. Regional
Top 10 Payment Methods Preferred in E-Commerce, in % of Online Shoppers, 2016 & 2017
Concerns That Internet Users in the EU Have About Using The Internet for Online Banking or Buying Things Online, in % of Internet Users, June 2013 & June 2017
Share of Internet Users in the EU Concerned About the Security of Online Payments, in %, by Country, June 2017
Cybercrimes That Internet Users in the EU are Concerned About, in %, June 2017
Share of Internet Users in the EU Who Were Victims of Bank Card or Online Banking Fraud, in %, by Country, June 2017
Overview of PSD2 Implementation Timeline, January 2018
Examples of New and Improved Payment Services That Could Be Triggered by PSD2, July 2017
Ways in Which Retailers Plan to Use APIs Following PSD2, in % of Payment Executives at Large Retailers Familiar with Open Banking, August 2017
Payment Actors That Are Expected to Benefit the Most from PSD2 Implementation According to European Banks, in %, June - September 2017
Value of Disclosed Funding of European FinTech Companies, in USD million, and Number of Deals, 2013 - 2016 & January-August 2017
Breakdown of Disclosed Funding of European FinTech by Country, by Number of Deals and Value of Deals, in %, 2013 - August 2017
Top 10 Most Well Funded FinTech Companies, by Disclosed Funding, in USD million, August 2017
Top Countries in Western Europe by Proximity Mobile Payment User Penetration, in % of Smartphone Users, 2018f

3.2. Advanced Markets

3.2.1. UK
Online and Mobile Payment Trends, January 2018
Top 3 Payment Methods Used in E-Commerce, in % of Internet Users, 2017
Top 3 Reasons for Checkout Abandonment, in % of Internet Users, 2017
Share of Consumers Willing to Give Online Retailers Permission to Initiate Payments Directly From Their Bank Account Using Apps or Websites, in %, by Total Consumers, Millennials and Generation Z, August 2017
Most Appealing Use Cases of Open Banking, in % of Bank Account Holders, August 2017
Organizations Most Trusted With Providing Open Banking Services, in % of Bank Account Holders, August 2017
Factors That Would Encourage Consumers to Move from Browse to Buy Online, in %, June 2017
Reasons for Not Shopping Online, incl. Payment-Related, in % of Adults Who Have Not Purchased Online, by Age Group, Q1 2017
Card-Not-Present Purchase Fraud Loss on UK-Issued Cards, by E-Commerce, Mail Order and Telephone Order and Total Remote, in GBP million, and Share of Total Card Purchase Fraud Loss, in %, 2011 - 2016 & H1 2017
Proximity Mobile Payment Users Number, in millions, and Penetration, in % of Smartphone Users, 2016 -2021f
Breakdown of Apple Pay and Android Pay Users by Age Group, in %, Compared to Total Adults, 2016
Most Valued Aspects of Mobile Payment, in % of Mobile Payment Users, July 2017
Share of Internet Users Who Have Used Fingerprint Technology to Pay for Goods and Who Have Used “Selfie” Payments, in %, 2017

3.2.2. Germany
Online and Mobile Payment Trends, January 2018
Payment Methods Used in E-Commerce, in % of Online Shoppers, May 2017
Top Payment Methods Offered in an Online Store and in a Brick-and-Mortar Store, in % of Merchants, September 2017
Types of Credit and Debit Cards Accepted in an Online Store, in % of Merchants with an Online Store, September 2017
Payment Methods Offered, in % of Top 1,000 Online Shops, 2015 & 2016
Most Important Payment Trends for the Next 3 Years According to Online Merchants, in % of Online Merchants, 2017
Breakdown of Implementation of Express Checkout Solutions, in % of Online Merchants, 2017
Breakdown of Optimization of Payment Process for Mobile, in % of Online Merchants, 2017
Payment Indicators Monitored by Online Merchants, in % of Online Merchants, 2017
Card Acquirers Used by Online Merchants, in % of Online Merchants, 2017
Payment Service Providers Used by Online Merchants, in % of Online Merchants, 2017
Perception of Tokenization Among Consumers and Merchants, in %, 2016
Share of Consumers Who Have Used Payment via Smartphone, in %, and Share of Non-Users Who Could Imagine Paying With a Smartphone in the Future, in %, April 2017
Reasons for Cancelling a Purchase via Smartphone, in % of Smartphone Shoppers, 2017 

3.2.3. France
Payment Methods Preferred in E-Commerce, in % of Online Shoppers, June 2017
Breakdown of Main Barriers That Make Consumers Hesitant to Purchase Online, in %, by Total Population and Online Shoppers, June 2017
Share of 3D Secure Payments, in % of Online Card Payments, April 2011 – April 2017
Mobile Payment User Penetration, in % of Smartphone Users, March 2017
Number of Mobile Payment Users, in millions, June 2015, June 2016 & March 2017

3.2.4. Spain
Payment Methods Used in E-Commerce, in % of Online Shoppers, 2016 & 2017
Payment Methods Used in M-Commerce, in % of Mobile Shoppers, 2016 & 2017
Breakdown of Factors Most Important in Online Payment Methods, in % of Online Shoppers, October 2017

3.2.5. Italy
Payment Methods Preferred in E-Commerce, in % of Online Shoppers, June 2017
Breakdown of Awareness and Usage of New FinTech Services, in % of Internet Users, 2017 

3.2.6. Netherlands
Payment Methods Preferred in E-Commerce, in % of Online Shoppers, June 2017

3.2.7. Sweden
Payment Methods Used and Preferred in Online and Mobile Shopping, in % of Online Shoppers, Q2 2017
Reasons to Choose a Particular Payment Method, in % of Online Shoppers, Q2 2017
Awareness and Usage of Mobile Payment Solutions, in % of Internet Users, Q2 2017

3.2.8. Switzerland
Payment Methods Preferred in E-Commerce, in % of Online Shoppers, June 2017
Mobile Payment User Penetration, by Current User and Potential Use, in % of Consumers, August 2017
Breakdown of Third-Party Mobile Payment Solutions Used, in % of Users, August 2017 

3.2.9. Belgium
Payment Methods Preferred in E-Commerce, in % of Online Shoppers, June 2017

3.2.10. Denmark
Payment Methods Used and Preferred in Online and Mobile Shopping, in % of Online Shoppers, Q2 2017

3.2.11. Norway
Payment Methods Used and Preferred in Online and Mobile Shopping, in % of Online Shoppers, Q2 2017

3.2.12. Finland
Payment Methods Used and Preferred in Online and Mobile Shopping, in % of Online Shoppers, Q2 2017

3.2.13. Ireland
Payment Methods Preferred in E-Commerce, in % of Online Shoppers, June 2017

3.3. Emerging Markets

3.3.1. Russia
Payment Methods Used in E-Commerce, in % of Active Internet Users, H1 2017
Payment Methods Used in E-Commerce, in % of Online Shoppers, 2016 & 2017
Breakdown of Last Online Purchase by Payment Method, in %, 2016 & 2017
Top Criteria When Choosing an Online Store, in % of Online Shoppers, 2016 & 2017
Attitudes to Mobile Payment, in % of Respondents, Compared to Global Average, 2016
Breakdown of Awareness of Cryptocurrencies, in % of Adults, July 2017
Breakdown of Perception of Cryptocurrencies, in % of Adults Who Heard About Cryptocurrencies, in %, July 2017
Breakdown of Awareness of Blockchain, in % of Adults, August 2017

3.3.2. Poland
Payment Methods That Encourage Online Shoppers to Purchase Online, in % of Online Shoppers, April 2017
Breakdown of Fast Transfer Services Used Most Often, in % of Online Shoppers Using Fast Transfer Services, April 2017
Payment Methods Used in Online Shopping, in % of Online Shoppers, 6 Months to October 2017

3.3.3. Turkey
Number of Domestic E-Commerce Transactions with Bank Cards, in millions, and Value, in TRY million, Q1 2015 – Q3 2017
Number of Cross-Border E-Commerce Transactions with Domestic Bank Cards, in millions, and Value, in TRY million, Q1 2015 – Q1 2017
Breakdown of the Number of E-Commerce Transactions With Payment Cards by Mobile and Web, in %, Q3 2016

3.3.4. Portugal
Payment Methods Preferred in E-Commerce, in % of Online Shoppers, June 2017

3.3.5. Czech Republic
Payment Methods Preferred in E-Commerce, in % of Online Shoppers, June 2017

3.3.6. Hungary
Payment Methods Preferred in E-Commerce, in % of Online Shoppers, June 2017

3.3.7. Romania
Payment Methods Preferred in E-Commerce, in % of Online Shoppers, June 2017

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  • Adyen
  • Apple
  • Computop
  • Concardis
  • Google
  • iDeal
  • Klarna
  • MasterCard
  • MobilePay Denmark A/S
  • PayPal
  • PayU
  • Samsung
  • Swish
  • Twint
  • Vipps
  • Visa
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