Digital wallets dominate payment landscape
Digital wallets are continuing their march across Europe.
A major new report says that the use of digitals wallets has been rising across many countries and they continue to gain momentum.
The report cites Germany, saying that PayPal is the most preferred and used payment method for the country’s B2C e-commerce purchases. Interestingly, Apple Pay and Google Pay were offered by a negligible percentage of online retailers in Germany. Klarna is also a big player in in the country.
In Denmark, MobilePay is more popular than PayPal and Apple Pay. PayPal is a big player in the Czech Republic.
Portuguese shoppers also favoured PayPal when making online purchases and in Bulgaria, online businesses saw a positive impact in sales after the introduction of digital and mobile wallets.
Yet there are some issues. The report revealed that more than one-third adults using mobile payments in France were concerned about the security and safety issues revolving around the use of the payment method.
In France, risks of fraud associated with making payments via mobiles were very important to more than two-thirds of adults using this payment method. In Poland, a number mobile shoppers not only experienced problems with making payments, but also found the payment method to be inconvenient.
Despite these reservations, digital wallets remain on an upward projectory.