For European Merchants, It’s Time to Embrace a “Cards Plus” Strategy for Online Payment Methods

When it comes to modern ecommerce and European payment methods, more is more. Cookie-cutter approaches that offer a limited number of payment options for ecommerce are insufficient due to different preferences on how to pay across diverse countries in Europe. For example, the Netherlands and the United Kingdom have similar per capita GDP but over 60% of people in the former prefer to use bank transfers for online payments while 50% in the latter prefer to use a credit card1.

European Payment Preferences Vary by a Surprising Degree

European Payment Preferences Vary Significantly by Country
Source: J.P. Morgans Country Insights: The Changing Dynamic of Payments in Europe

In nations across Europe, there are multiple payment types with greater than 20% of total ecommerce spend and many of these are unique1. However, European consumers do share a high level of trust in local payment methods.

According to Payments Journal, 68% of Spaniards, 66% of Italians, 61% of French, 55% of Germans, 55% of Dutch, and 51% of Swedes would be more likely to shop from a foreign website if it didn’t force them to provide their payment card details to an unknown international merchant.2

These stats highlight the importance of offering customers multiple payment methods. Care should also be taken to stay tuned to payment trends as consumer preferences are changing quickly in Europe and around the globe.

You Need a Payment Gateway that Offers Consumers All of the Most Popular Payment Methods in Europe

Card acceptance is essential, but it is by no means a total solution for online payments. To remain viable and to thrive in the expanding digital commerce environment, merchants must implement a next-generation payment stack that supports all the ways consumers want to pay. This includes credit and local debit cards, as well as local payment methods such as bank transfers, ewallets and even cash. By optimizing payments for each market, merchants can improve payment experiences and increase conversion rates.

Accept Europe’s Most Popular Online Payment Methods

Customers’ preferred payment methods are automatically offered, so checkout always feels local.

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  1. Mulcahy Andy , Brodbin Shane, How Online Shoppers Pay in European Markets, IMRG, Sep 2018, Print


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