Different Payment Preferences in European B2C E-Commerce
We are yStats.com, a secondary market research firm based in Hamburg, Germany, focused on researching data on global B2C E-Commerce and online payments. In this contribution, we would like to provide some information about payment methods within European B2C E-Commerce.
Huge differences between the payment methods in B2C E-Commerce can be observed from country to country.
In the continent as a whole, credit cards are one of the most popular online payment methods with a share of approx. 40%. In Great Britain and France, credit card payments account for approximately 60% of online purchases. In Germany, the most popular payment method is still payment by invoice, while credit card purchases account for only approximately 20%.
In Eastern European B2C E-Commerce, many payments are still made in cash, but the Eastern European market for online payments continues to grow. As an example, Russian online payment provider Yandex.Money expanded to other CIS countries in 2011, including Ukraine, Belarus and Kazakhstan.