Research shows how Europeans prefer to pay

Nearly 87% of customers feel comfortable paying by card

Payment method

Research shows how Europeans prefer to pay. Source: shutterstock.com

Consumers and merchants consider cards as the favored payment method in Europe. Payments Europe’s survey explained that cards still provide more added value than any other payment method, although new players have entered the European market, Ecommerce News reports.

Consumers and retailers have access to a broad spectrum of payment methods, but cards – both physical and virtual – still rate as the highest among the different payment options. This demonstrates that Europe has a competitive payments market in which the card industry continues to deliver value to end-users
Hendrik Frank, Deutsche Kreditbank

According to the poll, nearly 9 in 10 consumers across Europe feel comfortable paying by card, whereas 90% of retailers say that the card’s benefits outweigh any associated costs.

Online payment methods. Source: ecommercenews.eu

49% of consumers prefer cards for its convenience, 35% of them for its speed, and 36% use cards due to their complementary insurance. At the same time, 40% of users choose cards for its retailer acceptance and cashback on purchase (35%).

As to the merchants, the main benefits of card payments compared to other methods are guaranteed payment (53%), increased sales (44%), and access to a broader customer base (38%).

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