The Most Popular Payment Methods in Europe

Popular payment methods in the United Kingdom

The UK is the biggest e-commerce market in Europe, with a population of nearly 69 million people and over 97% of households having internet access.

PayPal and debit/credit card payments dominate the list of online payment methods in the UK, with widespread use across all demographics. According to Marqeta research, more than three-quarters (77%) of UK consumers have adopted digital wallets and mobile payments to make purchases, with PayPal ranking as one of the most popular payment methods in the UK. A smaller share of consumers use alternative digital wallets, including Apple Pay and Google Pay. At the same time, Open Banking is emerging as one of the popular payment systems in the UK for both merchants and consumers, with more than 2.5 million shoppers and businesses already using OB-enabled products to manage their finances and pay online.

Open Banking is an emerging payment method that rapidly gains popularity among British merchants and consumers. According to the statistics, more than 2.5 million UK consumers and businesses already use Open Banking-enabled products to manage their finances and pay online.

Open Banking by ECOMMPAY in the UK

ECOMMPAY's Open Banking solutions connect to over 48 partner banks in the UK, with Barclays, HSBC, Lloyds, and Monzo customers able to utilise this real-time, safe and simple payment solution.

To learn more about the Open Banking solutions provided by ECOMMPAY, click here. Alternatively, head to the ECOMMPAY shop, where you’ll find more information about integrating the best UK online payment methods into your online checkout.

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Popular German payment methods

With a population of 84 million, Germany is one of the biggest e-commerce markets in Europe. By the end of 2022, the e-commerce sector in Germany was on course to surpass $141.20 billion in revenue, though the country remains one of the most fragmented markets in Europe in terms of payment preferences.

Local German payment methods are extensive, though consumers primarily prefer to pay with debit and credit cards (primarily Mastercard and Visa). However, SEPA Direct and several alternative payment methods, such as PayPal, Sofort, and Giropay, are popular and widely accepted.

Giropay

Giropay is a popular real-time online bank transfer payment system in Germany, which enables customers to make payments directly via their bank account. Since 2006, Giropay has integrated more than 1,500 German banks.

Learn more about Giropay and how to connect this payment method here.

Sofort

Sofort is an overlay banking system covering almost all consumer banks in Germany. Sofort allows access to 99.9% of German banks, enabling real-time transaction confirmation, a high level of security for merchants and consumers, and zero chargebacks.

Learn more about Sofort and how to connect this payment method here.

Popular payment methods in Spain

Spain now ranks 17th out of 160 countries in the World Bank's Global Logistics Performance Index, and 93% of Spanish citizens have an Internet connection (85% also own a smartphone).

When it comes to Spanish payment methods, over half of the country’s 46.8 million citizens are eager to pay for online purchases using a debit card or credit card. In contrast, slightly over 40% are more inclined to use online systems, such as PayPal, as their payment method of choice.

The average Spanish shopper spends ranks 2100 EUR per year on e-commerce purchases, generating nearly 80 billion USD in total and helping the local e-commerce market grow at a rate of 15.3% per year.

Open Banking in Spain

Visa and other international card payments beat local payment methods in Spain, though the country looks set to rapidly adopt Open Banking in the near future. In 2021, Spain’s online banking penetration hit 65%, with Mastercard’s Open Banking Readiness Index ranking the country favourably.

Learn more about the Open Banking solutions provided by ECOMMPAY here.

Popular payment methods in Belgium

With a population of 11.6 million people, most of whom are already familiar with online payments, Belgium represents a well-developed and attractive e-commerce market for online businesses. The number of e-commerce buyers in the country is expected to hit 8.6 million users by 2025, with total revenue for the sector projected to reach $12.46 billion by the end of 2023, showing an annual growth rate of 4.57%, and resulting in a projected market volume of $8.067m by 2025.

The most popular Belgian payment method for online purchases is the Bancontact payment system, debit (Bancontact/Mister Cash) and credit cards (Visa, MasterCard, American Express), as well as alternative payment options, including PayPal and iDEAL.

Bancontact

Bancontact is the leading online debit card payment method in Belgium and is offered by 80% of local businesses. It is a widespread and trusted payment option, and collaboration with over 20 different banks in Belgium makes Bancontact a must-have payment solution.

Learn more about the benefits and connecting Bancontact here.

Popular payment methods in the Netherlands

Despite its small size, the Netherlands ranks as the seventh-largest e-commerce market in Europe, deriving over 3% of GDP from online shopping. In 2021, the Dutch e-commerce sector was valued at 30.6 billion EUR, and turnover is expected to grow between 5 and 10% during 2023.

Regarding online payments, the Netherlands is one of the most diverse and advanced European economies. Along with bank card payments, such as Visa and Mastercard, Netherlands payment methods include various alternative systems, with iDeal being the most popular option across the country.

iDeal

Offering iDEAL is crucial for achieving e-commerce success in the Netherlands. iDeal is a Dutch payment system allowing consumers to pay online through their bank accounts. According to Statista, iDeal's market share of online payment methods reached 69% in 2020, dominating the competition.

To learn more about connecting iDeal payments, click here.

Popular Portuguese payment methods

Portugal's e-commerce market generated over 5 billion USD in 2021, falling just behind Greece but ahead of Romania. Although a small country of just over 10 million people, Portugal has a highly developed economy, with nearly 80% internet penetration.

E-commerce is highly promoted by the government through the Digital Trade Programme, which encourages online retail, and provides tools for small and medium enterprises to build websites.

Portugal's e-commerce market contributes a substantial 5% towards GDP, with growth primarily driven by the younger generations, especially in the fashion and technology segments. Card payments are popular, but the Multibanco network dominates when it comes to online purchases.

Multibanco

MULTIBANCO is a Portuguese interbank network that can be used for bank transfers or cash payments (run by Sociedade Interbancária de Serviços S.A. or the SIBS Payment provider). Multibanco is supported by the main banks in Portugal and is, therefore, a well-known and widespread payment solution in the country.

Learn more and connect Multibanco method here.

Popular payment methods in Austria

Austria is an unusual e-commerce market in that international sales are far higher than local ones. Perhaps due to a shared language, many Austrians are happy to use e-commerce services in Germany, with sites like Amazon.de especially popular across the region.

Austria's excellent infrastructure, central location and high internet penetration mean that German, Italian, Swiss and Czech goods are frequently shipped across the border. The country's e-commerce market is projected to reach $15.99bn in 2023.

In Austria, payment methods and preferences are fairly fragmented. Local consumers prefer to pay with credit and debit cards but also favour alternative methods like EPS, Sofort, PayPal, digital wallets, Open Banking, direct debit, and bank transfers.

EPS

EPS is a must-have payment method for a successful e-commerce business in Austria. It is the main bank transfer payment method in the country, and offered by more than 80% of all online merchants in the region.

Find out more about EPS here.

Sofort

As previously mentioned, Sofort is a widely used payment solution in Germany, and therefore also popular among Austrian e-commerce consumers.

To read more about Sofort, its benefits, and integration options, click here.

Popular payment methods in France

France boasts a large and mature e-commerce market, with 77% of the country's 68 million population regularly making online purchases. Online shoppers in France spend over 2,200 EUR online per year, and the e-commerce market is projected to reach $106.50bn during 2023.

Bank cards are the most popular payment method in France, with 80% of French consumers preferring to pay via credit or debit card when shopping online. Although smartphones are popular, 79% of shoppers in France still favour laptops or desktops for online shopping, and local card scheme Cartes Bancaires is used more frequently than more prominent names such as Visa or Mastercard.

Cartes Bancaires

Co-branded with Visa, Cartes Bancaires is one of the most widely used French payment methods. Well over 60 million cards are currently activated, and like other credit cards, customers can elect to pay for purchases later, with merchants receiving instant settlement.

Popular payment methods in Italy

Despite the economic disparity between the north and south, Italy is the third largest economy in Europe. The e-commerce segment is projected to continue its growth, climbing to 12.63% and resulting in an estimated market volume of $96.79bn by 2027.

Although Italy remains a cash-based society with below-par internet infrastructure, the adoption of e-payments is on the rise, with debit and credit card payments and digital wallet payments widespread across the nation. By 2021, over 40% of all e-commerce purchases were paid by cards, and mobile e-commerce had racked up 7 billion EUR of sales.

Bancomat Pay and Satispay

Bancomat Pay and Satispay are locally-popular Italian payment methods in a country where shoppers prefer to use smartphone apps to make online payments. Both services offer mobile apps where users can connect their bank accounts, make peer-to-peer payments and, of course, make digital payments for goods and services.

Popular payment methods in Poland

Poland represents a developing e-Commerce market with a projected growth rate of (CAGR 2021-2025) 7.28% and is expected to reach the revenue of $13,545 million in the e-Commerce market in 2021.

While direct payment through bank was still the leading payment option for Polish shoppers in 2020, alternative payment systems like PayPal and card payments are right on the edge representing 25% and 24% of online transactions after the COVID-19 pandemic.

Popular local Polish payment methods Przelewy24 and BLIK are recommended for merchants looking to expand into this market to localise checkouts for Polish users.

Przelewy24

Przelewy24 is an online banking payment solution used by over half of Polish online shoppers. As a real-time bank transfer system covering all major Polish consumer banks, Przelewy24 is a must-have for merchants entering the Polish e-commerce market.

Discover Przelewy24 benefits and integration options here.

BLIK

BLIK is a Polish mobile payment system that allows millions of mobile phone users to pay online, make in-store purchases, and withdraw cash at ATMs.

Find out more about BLIK here.

Offer European customers the payment methods they know and love

Providing access to a broad range of international and local payment methods is essential for modern e-commerce merchants. ECOMMPAY's omni-channel payment gateway allows merchants to extend their payment offering using a single integration, driving maximum checkout conversion and building customer trust in new markets.