Dublin, June 30, 2021 (GLOBE NEWSWIRE) -- The "Western Europe Online Payment Methods 2021" report has been added to ResearchAndMarkets.com's offering.
"Western Europe Online Payment Methods 2021" provides insights into the current state and future trends of the online payment market in the countries of Western Europe. The publication reveals that consumer interest towards digital payment is increasing in the region and that COVID-19 resulted in a faster transition from cash.
Western European consumers still tend to choose cards for online purchases
During the COVID-19 health crisis, debit and credit cards and E-Wallets such as PayPal appeared to be the most used payment methods when it comes to E-Commerce. Moreover, in some markets of Western Europe, including Germany and Italy, digital wallets even outpaced the cards.
Furthermore, in Germany, Norway, Finland and Sweden direct payments via online banking ranked third among the most preferred payment methods for online shopping. Meanwhile, in Belgium, the Netherlands, and Denmark the third place was taken by various mobile apps, such as Banconect and Swish.
Moreover, Bancontact online services accounted for nearly half of all B2C E-Commerce payments in 2020 in Belgium, and Swedish Swish was preferred by one-fifth of the Internet users in the country for online payments, according to recent research cited by the analyst.
Contactless and mobile payments are accelerating in Western Europe
Furthermore, despite the strong cash culture in Western Europe, mobile payment adoption started increasing 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% 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 and, in the Netherlands, the share of contactless is increasing yearly, and in 2020 it constituted more than half of the total transaction value.
This report covers the online payment market in Western Europe. It takes into account a wide definition of online payment, including payment methods used in online shopping and mobile payment, such as remote and proximity payments.
The major countries in the region are covered, while data availability varied across the markets.
The report includes data mostly published within the previous 12 months. The exact date of publication of the source is stated on each chart. The time period which the data refers to differs by source.
The global chapter opens the report, featuring an overview of global online and mobile payment developments.
Next, information about European regional development and country comparisons are included.
The rest of the report contains country-specific information. The countries of Western Europe are presented in the descending order of B2C E-Commerce sales.
Depending on data availability, the following types of market information are included: payment methods most used by online shoppers, breakdown of ECommerce sales by payment methods, trends in online payment security and fraud, number and value of online/mobile payment transactions, mobile payment user penetration and consumer awareness of innovative payment means. Not all the mentioned types of information are available for each of the covered countries.
Key Topics Covered:
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
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
OP Financial Group
For more information about this report visit https://www.researchandmarkets.com/r/430sv9
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