The goal of a single digit market has been pursued by Europe for many years. This includes decentralisation and financial services, which are paving the way to more innovative payments in this region!
Countries that like Alternative Payment Methods
Belgium - There is a reason why Belgians love their Bancontact cards- they're the most popular payment device in circulation! Cards or apps linked to your bank account provide guaranteed online payments. How could you not want one?The customer is automatically taken to the Bancontact website or mobile app where they must authorise payment. Once approved, there's immediate notice of success or failure of your purchase!
France - The company Cartes Bancaires has an agreement with Visa & Mastercard. Their cards are accepted by nearly all major networks. You can use the cards, both at traditional retailers as well as online platforms!
Germany - When it comes to paying for purchases online in Germany, there are many different options. The most popular way is with SOFORT and Giropay, both of which allow customers quick access, as well as security, when they are paying.
Giropay is a secure payment method that allows customers to complete transactions using their bank account. Customers must first authenticate themselves by providing the second factor, such as entering in PIN or sa pattern before funds are withdrawn from your respective accounts and sent through giropay's infrastructure for processing. 10% of online checkouts in Germany are made through Giropay.
Italy - The digital world is where the Italian people go to buy things. More than 80% of them transact online, and they prefer e-wallets or prepaid cards because it's easier than carrying cash around all day long!
The Netherlands - The iDEAL payment method is the most popular online in the Netherlands with a share close to 55%. All major Dutch banks operate this scheme, making it easy for customers who want an alternative way of paying.
Poland - There are many people in Poland who use the internet to pay for their purchases. An average person in Poland will make at least three payments per month. 75% of the population rely on online transactions as a means of sending and receiving funds.
Portugal - In Portugal, the most popular payment method is MultiBanco which accounts for around 85% of total sales.
Portugal has one of the most innovative payment methods in Europe. With Multibanco, shoppers can get their money at any time using an ATM or online banking option- making it easier than ever before!
United Kingdom - UK shoppers lead the world when it comes to mobile shopping and debit cards. Not only does an average British person have 2-3 cards, but 90% of UK residents use them for online payments. They pay through their smartphones too!
Gain Access to Multiple APMs
Integration can be a tedious process, but it's also important to make sure that all of your payment methods are up-to-date. DIY-ing this upgrade might seem like an easy way out at first...but you could end up losing customers and missing payments!
The experts at Macropay want to make it easy for you by giving access to alternative payment methods and open banking. They will integrate these new options properly into your payment system so all that's left is telling them which payment methods you want for your business! Find out more about how they can help by clicking here.
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