Guide:
European online payment methods to boost checkout conversions
Dive into the diverse payment preferences, cultures and standards across different countries and find out which European online payment methods can increase trust while reducing cart abandonment.
Included:
- Payment trends in Europe
- Online payment methods explained
- What you need to know about SEPA
- Regional payment preferences
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Local matters
Popular European online payment methods for your online store
eCommerce has gone truly global. Today, more than one in five retail purchases happens online (Source: ECB). But while technology and accessibility globalize online shopping, how people pay still depends a lot on where they live.
From the digital readiness of a country to its cultural fingerprint – European countries are not a monolith when it comes to payment methods. If you want to be successful in single or cross-country markets, you need to know which payment methods (local and global) increase trust and checkout conversions.
Your online checkout matters
Reduce cart abandonment by reducing friction
In contrast to the point of sale in stationary stores, the online checkout is one of the main touchpoints that can cause the disruption of the purchase intention and result in cart abandonment. Reducing friction should be the main goal for any checkout experiences.
The right payment options that are easy to use and are known to your customers can reduce cart abandonment significantly.
Not every payment works everywhere
Local payment methods win the checkout race
Although the major credit cards and digital wallets such as PayPal or ApplePay are sufficient for many markets, identifying local payment options can drastically increase your conversions simply by making the payment process easier for your customers.
Whether it’s TWINT in Switzerland, iDEAL in the Netherlands or MobilePay in Denmark – you can differentiate yourself from the global competition if you show low local awareness (and gain your customers’ trust).
Ready to optimize your payment strategy?
Download our European Payments Guide today and get insights into usage, the top payment methods for selected countries and pros and cons of different payment methods to increase trust at the checkout and reduce cart abandonment.