PUBLISHER: yStats.com | PRODUCT CODE: 1097869
PUBLISHER: yStats.com | PRODUCT CODE: 1097869
Digital payments on the rise in Western Europe, reveals a new report by yStats.com.
Debit or credit cards and PayPal were the most preferred methods of payment in B2C E-Commerce in most Western European countries including the UK, France, Spain, Italy, and others. In Germany, PayPal is now almost as strong as payment by invoice, traditionally a leading payment method by share of B2C E-Commerce sales. In addition to cards and PayPal, there are several local payment services that occupy top positions in their respective markets. These include iDEAL in the Netherlands, Vipps in Norway and Multibanco in Portugal.
Mobile wallets are projected to see significant growth in Western Europe through 2026. In Italy, for example, the value of proximity mobile payments doubled over the past year. The mobile payment trend is driven by convenience and security of these payment solutions, especially with proliferation of biometric authentication. A survey cited in this yStats.com report reveals that close to two-thirds of respondents in the UK felt safer using their mobile phones when compared to physical wallets. Mobile payment apps are also gaining popularity in B2C E-Commerce, in the Netherlands and Norway, among other countries.
Western Europe.
Amazon Pay, American Express, Argos Store Card, Clearpay, Klarna, Laybuy, Legal & General, Maestro, MasterCard, Payl8r, Paypal,PayPoint, Revolut, Scottish Widows, Similar, Zip, Zlich, Openpay.