Digital Wallet Platform In European Countries

Every European country has its own way of paying money. Visa, Mastercard and PayPal are
popular payment methods in many parts of the world, but Europe stands out because of its
diversity when it comes to the use of online and offline payments. This can be seen, for
example, when you look at the use of cash money in Europe. According to numbers from the
European Central Bank (ECB), consumers from Malta, Cyprus, Greece or Spain were more
likely to pay with cash in a shop or restaurant than their Estonian, Finnish or Belgian
counterparts. A second example which highlights the difference in payment behavior presents
itself when looking at the total number of debit card payments in Europe. Whilst the highest
use of debit cards was recorded in the United Kingdom, with over 17 billion transactions,
Germany recorded 3.3 billion transactions, which was less than Poland and the Netherlands.

In Western Europe, it's common to pay with credit or debit cards for either offline physical
purchases in bricks-and-mortar-stores or for online purchases. Indeed, between 2003 and
2017, the total value of card transactions as a share of GDP increased from approximately
17.5 percent in 2013 to approximately 19.9 percent in 2017. In 2017, Visa credit cards
reached a market share in terms of purchase volume of approximately 62 percent of the total
European market. But there are many differences among the European countries. Visa
reached a market share of 54 percent in Turkey in 2017, whilst Mastercard was the biggest
provider in Sweden at that time. The highest percentage of credit card debtors in Europe live
in either the United Kingdom or Romania, whereas few Dutch and Germans have credit card
debts. Debit cards were most used by adults from Belgium, the Netherlands, Norway,
Finland, Sweden and Denmark.
One might assume that with a digital wallet, Visa/Mastercard or a debit card from a local
bank all payment methods Europe are covered. This is not the case.
In Italy, approximately 37 percent of respondents reported that PayPal was their most used
payment method on e-commerce websites for both tangible and intangible goods. And while
direct debit payments were indeed popular in Poland, approximately 15 percent of the
respondents preferred to pay for their online products with cash on delivery.

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Source: https://www.statista.com/topics/3946/digital-payment-methods-in-europe/
Also Visit: https://www.rpaywallet.com/e-wallet-demo