Companiesandmarkets.com

Mobile and e-wallet transactions set to account for more than 10% of all payments in Europe by 2020

Press Release   •   Dec 17, 2013 19:00 GMT

Only 1% of all payments were made via mobiles or e-wallets in 2010 across Europe. This is set to change rapidly with over 10% of transactions being made by mobiles or NFC transmission by 2020.

The highlight online banking penetration in Europe is reported to be sourced in Norway, Finland and the Netherlands with each market reporting online banking shares of more than 80% in 2013. Turkey, Spain and the Netherlands represented the markets where mobile banking has the highest penetration of all transactions made.

In central European markets, online payment and mobile payment sectors are well established. In Germany, for instance, over 10% of customers used mobile payments for parking and ticket terminals and POS at least once in 2012. The german B2C e-commerce market is also well established and the most preferred payment method is invoice and PayPal.

In Austria and Switzerland, the most favoured online shopping payment method was invoice, with credit cards in second place. The growth of online payments in Western Europe is expected to be followed by the uptake in mobile payment transactions. Mobile payment transactions in Western Europe are expected to increase by half in 2013 over the year. In 2012, the UK has reported that debit card payments online have now overtaken payment transactions being made by credit card. However, in the UK, approximately two thirds of UK consumers had not heard of mobile payments with 10% of consumers in the UK using mobile payments at least once in 2013.

In France, three of the major banks have cooperated with each other to launch an online payment system reference Paylib in September 2013. Paylib represents an inter-bank alternative to PayPal. In terms of online payments in France, the most favoured method was by bank card. In France over several million NFC capable mobile devices are in use in the market already and so the mobile payment market is expected to report strong growth in France. By September 2013, over 100,000 retail stores had NFC terminals installed.

In Scandinavia, the most used payment method among online shoppers in Denmark in 2013 was Credit or Debit Card. In a sample month early this year the majority of online shoppers in Finland preferred direct payment through bank in B2C E-Commerce, while in Norway over half of online shoppers preferred to pay with credit or debit card and the payment method most preferred by online shoppers in Sweden was invoice.

For more information on the Europe online payment market, see the latest research: Europe Online Payment Market

Follow us on Twitter @CandMResearch


Companiesandmarkets.com issues news updates and report summaries covering all major industries and sectors. The service provides additional client monitoring and timely alerts to breaking industry and sector news leading the day's business headlines. News articles, written by our staff, contain additional analyst insight, providing value added insight for our readers. News updates and real-time alerts on newly-released market reports are also available from our Facebook page, Twitter feed @CandMResearch and RSS links. We also welcome inquiries from business journalists and the news media.