Online Payment Methods Followed An Upward Trend in Western Europe Amid Covid-19
Younger Generations Drive Digital Wallet Growth
Digital wallets are gaining traction in Western Europe, particularly among younger consumers. Weekly usage surpassed 20% in Germany and the UK in 2024, while France and Italy showed steady but slower growth. Convenience and mobile integration continue to fuel adoption, though card usage remains prevalent in some markets.
Cards Dominate Despite Rising Alternatives
Cards continue to lead in transaction volume, especially in the UK, where they made up over 60% of payments in 2023. Contactless technology is now standard across the region, with high trust in domestic card schemes like Girocard and Cartes Bancaires. While new methods like BNPL and Pay by Bank grow, cards remain a secure and reliable choice.
Security and Cost Shape Payment Preferences
Across markets, security and affordability are top considerations when choosing payment options. UK and German consumers prioritized secure methods, while the Netherlands favored Pay by Bank for its fee-free model. Spain stood out for its openness to new digital payment tools, especially among Gen Z users.
Countries Covered
- United Kingdom (UK)
- France
- Germany
- Spain
- Netherlands
- Italy
- Belgium
- Sweden
- Austria
- Switzerland
- Denmark
- Finland
- Norway
- Portugal
- Ireland
Questions Covered
- In 2024, what share of consumers in the UK used digital wallets weekly?
- How did card payments compare to digital wallets in Germany in 2023 and 2024?
- How willing were Generation Z consumers in Spain to try new online payment methods in 2024?
- What payment method dominated online transactions in the Netherlands in 2024?
- What percentage of Western European consumers prioritized security when choosing an online payment method in 2024?
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Table of Contents
1. Key Takeaways2. Management Summary
Samples
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Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- PayPal
- Apple Pay
- Visa
- Mastercard
- Girocard
- BankAxept
- Vipps
- MB WAY
- Multibanco
- TWINT
- MobilePay
- Klarna
- ViaBill
- Trustly
- Google Pay
- Bizum
- Dankort
- Intesa Sanpaolo
- UniCredit Bank
- Nexi Payments
