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The Payment Methods that will Grow your eCommerce Sales in Europe in 2020

The Payment Methods That Will Grow Your ECommerce Sales In Europe In 2020

eCommerce sales ballooned to 691 billion Euros across Europe in 2019. While Europeans are united in their growing adoption of ecommerce, their preferences vary wildly when it comes to how they like to pay. Merchants must localize their payment acceptance strategies to satisfy consumer expectations in each country where they do business. 

Localizing payment options is essential

Cart abandonment rates across Europe are over 70%. Enabling consumers to make both cross-border and local online purchases using their preferred methods grows your customer base, reduces cart abandonment and creates repeat buyers.

Businesses must adapt to the needs of mature and developing markets

The UK, Denmark, the Netherlands, Sweden and Germany are the top-five ecommerce markets in Europe. Over 80% of their respective populations have made an online purchase in the last 12 months.  Meanwhile, Central and Eastern European countries such as Estonia, Lithuania and Slovakia are experiencing the most growth—15 percentage points or more between 2013 and 2018.

To do business successfully across such diverse markets, businesses must be prepared to accept many payment options, including: 

Bank transfers – Local services, such as iDEAL in the Netherlands and Giropay in Germany, are gaining popularity throughout the region.

Credit and debit cards – In general, European cardholders are able to pay with one card all over Europe. 

SEPA transfers – Direct bank transfers via Single Euro Payments Area (SEPA) are available in all 27 member countries, as well as non-EU members of the European Economic Area.

Real-time payments – Real-time payments, such as Faster Payments and Bankgirot in Sweden are popular because they offer immediate funds availability.

Cash – Cash-on-delivery (COD) is favored in Eastern European countries like the Czech Republic, Hungary, Romania and Slovakia.

eWallets – PayPal remains the most used ewallet across Europe.

Here are the most popular payment methods in some of Europe’s Top Markets.

For complete details on payment methods, trends and financial statistics for all the countries below, download the Rapyd European Economic Profiles and Opportunities Guide Book. 

Payment methods as a percent of total online payment value.



59% of the population is making purchases online making France a great opportunity for ecommerce expansion.

Top ecommerce payment methods in France

Cards – 53.9%

eWallet – 20.9%

Bank Transfer – 13.2%



Germans are among the populations most open to making cross-border purchases in the EU.

Top ecommerce payment methods in Germany 

eWallet – 26%

Direct Debit – 20%

Open Invoice – 20%

Card – 13%



Italians are increasingly adopting ewallets as a popular payment method, with PayPal leading in terms of adoption. 

Top ecommerce payment methods in Italy

Card – 33.8%

eWallet – 32.3%

Bank Transfer – 11.6%



Only 39% of the population uses credit cards, and the average ecommerce spend per person is $1,030.61, making local payment methods, like iDeal bank transfers, critical to unlocking this market.

Top ecommerce payment methods in the Netherlands

Bank Transfer – 60%

Cards – 16%

eWallet – 7%



Poland’s population is less affluent than most EU countries and less digitally connected. However, as an emerging economy with a population of over 38 million people, Poland shouldn’t be overlooked.

Top ecommerce payment methods in Poland

Bank Transfer – 50%

Card – 22%

eWallet – 15%

Cash – 10%



Cash and credit cards remain the most popular payment methods in Spain.

Top ecommerce payment methods in Spain

Card – 43.2%

eWallets – 27.7%

Bank Transfer – 16.4%



Sweden is closer than most European nations to becoming a cashless economy. In 2018, a survey by the country’s central bank found that only 13% of adults used cash for purchases. 

Top ecommerce payment methods in Sweden

Cards – 41.5%

Bank Transfer – 23%

Open Invoice – 22.8%


United Kingdom

When it comes to online purchases, the UK leads in Europe. 87% of the population bought something online in the last 12 months.

Top ecommerce payment methods in the United Kingdom

Card – 53%

Digital Wallet – 25%

Cash – 7%

Source: J.P. Morgan 2019 Payments Trends Global Insights Report: Data Provided by Edgar, Dunn and Company.


Want in-depth data on local European payment preferences?

European consumers demand trusted local payment solutions. How many sales could you be missing by not offering the right ones? 

Download the Rapyd European Economic Profiles and Opportunities Guide Book and discover how to open new markets and create new opportunities across Europe. 

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