Digital Payments in Europe 2025: Regional Trends, Adoption, and Forecasts to 2028

Description

Digital Payments in Europe Set for Transformation in 2025: Smartphone Penetration, Contactless Adoption, and Digital Wallets Lead the Way, according to the latest yStats.com report.

Digital Payments Surge in Europe Driven by Wallet Adoption

In 2024, digital payment adoption in Europe exceeded 60% for online transactions and over 25% for in-store payments. The rise was driven by contactless options, smartphone penetration, and the adoption of global digital wallets. Global wallets remained the preferred method for online payments, while OEM wallets led in-store transactions, reflecting the demand for fast and secure solutions.

Instant Payments Propel Non-Cash Transaction Growth

The volume of non-cash transactions in Europe is projected to grow at a CAGR of over +10% from 2023, reaching more than 630 billion transactions by 2028. In the B2B segment, non-cash transactions are expected to total nearly 90 billion by 2028. While card payments dominated in 2023, comprising over 60% of transaction volume, instant payments continued to gain traction, driven by the need for real-time and seamless transactions.

Stablecoins Gain Ground as Crypto Ownership Expands

Stablecoins like USDT and USDC are gaining traction in Europe, fueled by their stability and use in cross-border payments. In 2024, stablecoin transactions below USD 1 million grew 2.5 times faster than in North America. Additionally, nearly 50 million individuals in the region held digital assets, highlighting the appeal of stablecoins for consistent value and their integration into E-Commerce platforms.

Product Code: 1689

1. Management Summary

2. Digital Payment Adoption Trends in Europe

2.1. Key Takeaways - Digital Payment Adoption Trends in Europe
2.2. Digital Payment Usage and Wallet Adoption
- Share of Respondents Using Digital Payments, by Category, in % of Respondents, 2024
- Digital Wallets Adoption by Category: In-Store, in % of Digital Payment Users, 2024
- Digital Wallets Adoption by Category: Online, in % of Digital Payment Users, 2024
- Digital Wallets Adoption by Category: In-App, in % of Digital Payment Users, 2024
2.3. Shift in Consumer Payment Behavior
- Payment Mix: New Payments vs Traditional Payments, In % of transaction volume, 2023
- Payment Method Usage Frequency in Instant Economy, in % of Consumers, 2024

3. Consumer Preferences and Emerging Payment Methods in Europe

3.1. Key Takeaways - Consumer Preferences and Emerging Payment Methods in Europe
3.2. Consumer Preferences
- Willingness to Try Pay by Bank for Online Payments, in % of Respondents, 2024
- Features That Make Pay by Bank Appealing to Consumers, in % Respondents, 2024
- Top Reasons for Using a Credit Card Online, in % of Credit Card Users, 2024
- Factors Influencing Consumers' Preferences When Selecting an Online Payment Method, in %, 2024.
3.3. Adoption of Emerging Payment Methods
- Number of Cryptocurrency Owners, in millions, 2023 & 2024e
- Western Europe: Overview of Crypto Payment Adoption and Stablecoin Usage, March 2025

4. Market Growth and Future Projections for Digital Payments in Europe

4.1. Key Takeaways - Market Growth and Future Projections for Digital Payments in Europe
4.2. Retail E-Commerce Growth and Impact on Payments in Western Europe
- Retail E-Commerce Share, in % of Total Retail Sales, 2022-2028f
- Retail E-Commerce Sales, in USD billion, in % of Year-on-Year Change, 2022-2028f
4.3. Non-Cash Transaction Growth
- Total Non-cash Transactions Volume, in volume billions, 2018 & 2021-2024e & 2028f
- Total B2B Non-cash Transactions Volume, in volume billions, 2018 & 2021-2024e & 2028f
4.4. Payments Revenue Trends and Projections in Europe, Middle East, and Africa
- Payments Revenue by Type, Commercial & Consumer in %, 2018 & 2023
- Share of Payment Revenue Value, in %, 2027f
- Payments Revenue Value, in USD trillion, 2013, 2018, 2020- 2023
- Payments Market Growth by Global Region, CAGR (%), 2022 - 2027f
- Payments Market Revenue Share by Global Region, in %, 2027f