While non-cash payment methods, especially credit cards, dominate in the Western sub-region, cash on delivery and various alternative payment methods are most used in Eastern European countries, according to the `Global Online Payment Methods: Full Year 2014` report issued by the market reseach company yStats. Both sub-regions show potential for mobile payments growth.
Europe’s largest online market, the UK, was dominated by credit and debit cards in terms of payment methods in 2014, while a quarter of online shoppers dropped the purchasing process due to lack of preferred payment method in the merchants offer. In Germany, invoice remained the leading payment method, while PayPal increased its share there. The payment method used the most by online shoppers in France was “Bank Card” at the beginning of 2014, followed by “Online Payment Service”.
In Russia, while cash remained the most used payment method in online shopping, half of internet users already have experience with online payments and a significant share plans to do so more. In Hungary, Romania and Belarus, cash on delivery was likewise the most used method. However, there are also exemptions to this trend in Eastern Europe, as in Turkey card payment dominated and grew rapidly in 2014.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now