Please Wait.....
Report
Europe Payments - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2025 - 2030)
Market Report I 2025-04-28 I 100 Pages I Mordor Intelligence
The Europe Payments Market is expected to register a CAGR of 15.83% during the forecast period.
Key Highlights
- In the European market, providers of cashless applications and digital wallet services, such as Apple pay, keep payments secure by combining tokenization with biometric features. When the payment card is activated, it receives a one-of-a-kind virtual token. This number is encrypted and securely stored on the user's mobile device. Only a biometric identification feature allows access to the token.
- Making cross-border payments is a necessity for many European businesses and consumers. Traditional banks have traditionally controlled cross-border payments in Europe, as in many other geographies. On the other hand, traditional banks have been slow to respond to customers' changing needs for embedded FX solutions. Wise (formerly TransferWise) and Currencycloud are two new players that have emerged to capitalize on these opportunities (both Sapphire investments).
- BNPL payment methods are becoming more popular in the European market. Klarna is the most prominent global payments service, offering 147 million active consumers in 45 countries more innovative and flexible shopping and purchasing experiences. BNPL payment methods will likely face regulatory challenges, limiting their service growth. Their popularity, however, cannot be denied. BNPL systems charge installments for the users until the total amount is paid.
- The international digital payments industry has been profoundly altered by the COVID-19 global health crisis in the European market in 2020, which has resulted in significant market advancement since then. The adoption of contactless payments has increased consistently and is expected to accelerate further. Indeed, global cashless transactions are expected to grow at an annualized rate of about 18% between 2020 and 2025.
- The pandemic facilitated the transition from traditional to digital banking. As many customers turned to internet shopping for the first time in Europe, ATM withdrawals fell, and geographic and age group differences in purchase behavior were significantly reduced. Between January and May 2020, Switzerland noted an increase in the share of debit-card spending from 65 % to 72 %.
Europe Payments Market Trends
Increasinguse of Digital wallets while shopping online
- With changes in customer preference for electronic payments, a desire for easier cross-border transactions, and the upcoming launch of the official European Digital Authenticity Wallet, digital wallets are rising in Europe. It is a temporary fix until digital and mobile wallets overtake traditional online payment methods in Europe.
- The wallet of choice for millions of European digital wallet users differs significantly by country. Russia prefers YooMoney (formerly Yandex. Money), and Qiwi, the Netherlands prefers iDEAL, and in Germany, 70% of consumers use PayPal, while Sweden likes Klarna and Swish. Even before the pandemic, digital payments were so popular in Sweden that only 13% of Swedes paid cash for their latest in-person purchase.
- Digital wallets have been identified as a critical payment method for e-commerce transactions in the European market. They can help relieve consumer concerns about sharing card details with merchants directly. Digital wallets have been quickly adopted by advanced e-commerce economies such as the United Kingdom and Germany, but smaller e-commerce markets embrace this payment method.
- PSD2, the European directive governing payment services, is a crucial pillar of payment and identity advancement. It combines the two into a single service and boosts consumer confidence, facilitating the adoption of online payment methods and online identity services.
Growth in usage of mobile device
- European countries like Czechia, the United Kingdom, Ireland, Sweden, and many more spent more time on computers, tablets, and mobile devices. Almost every region spent more time online on mobile devices. As mobile internet usage grows, global spending on the Google Play and Apple App Stores increases year after year. Overall, demand for the App Store is expected to be more than double that of Google Play.
- When it comes to online buying, cards continue to be a key payment method in the majority of European markets. Card use is especially prevalent in wealthy, technologically advanced countries with the highest bank penetration. Card payments are currently highest in Denmark (63.4% of e-commerce payments), Ireland (60%), and the United Kingdom (53%).
- Most Europeans are increasingly considering and adopting e-wallets as their preferred payment method because they provide a much more convenient way to receive and send money, whether they are purchasing something from a store or paying online. E-wallets have also allowed businesses to accept alternative forms of payment, such as cryptocurrencies or foreign currency. This dominance is expected to grow further, with e-wallets accounting for up to 30% of e-commerce transactions in Europe by 2024.
Europe Payments Industry Overview
Paypal dominates the digital wallet market, as it does in other large European markets. The European payments market is becoming more competitive, with new entrants such as Google Pay, Apple Pay, and Amazon Pay showing significant challenges. Furthermore, in almost every European country, PayPal and Visa are the most popular payment methods for online shopping.
- May 2022- Melio enables small business owners to pay all vendor bills with credit cards. It has given small business owners more options for paying bills. Melio's user-friendly payments system consolidates all of a company's accounts into a single interface. Business owners can pay specific bills and vendors directly from the app.
- December 2021- AS Roma, an Italian professional football club based in Rome, partnered with REPX, a British fintech firm, to launch a new innovative prepaid card for Giallorossi fans. Users of the prepaid card will be able to transfer money between supporters instantly and without charge.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definitions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Stakeholder Analysis
4.3 Industry Attractiveness-Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
4.4 Evolution of the payments landscape in the Region Europe
4.5 Key market trends pertaining to the growth of cashless transaction in the Region Europe
4.6 Impact of COVID-19 on the payments market in the Region Europe
5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increased digitalisation and decreased cash usage and Real-Time Payments
5.1.2 The digital economy's expansion and changing consumer behaviour
5.1.3 Regulation, specifically PSD2 and Open Banking
5.2 Market Challenges
5.2.1 Infrastructure for alternative payment methods
5.3 Market Opportunities
5.3.1 PSD2 and Open Banking have created multiple great possibilities for consumers and businesses alike.
5.3.2 The success of older online payment services such as Klarna, Affirm, and Afterpay has paved the way for newer entrants such as Scalapay and Alma.
5.4 Key Regulations and Standards in the Digital Payments Industry
5.5 Analysis of major case studies and use-cases
5.6 Analysis of key demographic trends and patterns related to payments industry in the Region Europe (Coverage to include Population, Internet Penetration, Banking Penetration/Unbanking Population, Age & Income etc.)
5.7 Analysis of the increasing emphasis on customer satisfaction and convergence of global trends in the Region Europe
5.8 Analysis of cash displacement and rise of contactless payment modes in the Region Europe
6 Market Segmentation
6.1 By Mode of Payment
6.1.1 Point of Sale
6.1.1.1 Card Payments (includes Debit Cards, Credit Cards, Bank Financing Prepaid Cards)
6.1.1.2 Digital Wallet (includes Mobile Wallets)
6.1.1.3 Cash
6.1.1.4 Others
6.1.2 Online Sale
6.1.2.1 Card Payments (includes Debit Cards, Credit Cards, Bank Financing Prepaid Cards)
6.1.2.2 Digital Wallet (includes Mobile Wallets)
6.1.2.3 Others (includes Cash on Delivery, Bank Transfer, and Buy Now, Pay Later)
6.2 By End-user Industry
6.2.1 Retail
6.2.2 Entertainment
6.2.3 Healthcare
6.2.4 Hospitality
6.2.5 Other End-user Industries
6.3 By Country
6.3.1 United Kingdom
6.3.2 Germany
6.3.3 France
6.3.4 Spain
6.3.5 Italy
6.3.6 Nordics
6.3.7 Rest of Europe (Eastern Europe, Benelux, etc.)
7 Competitive Landscape
7.1 Company Profiles
7.1.1 Visa Inc.
7.1.2 Mastercard
7.1.3 iDEAL
7.1.4 Giropay
7.1.5 Bancontact
7.1.6 Melio Payments
7.1.7 PayPal Holdings Inc.
7.1.8 SEPA Direct Debit
7.1.9 Multibanco
7.1.10 Klarna
8 Investment Analysis
9 Future Outlook of the Market
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security