The European E-Commerce Market
Major markets: U.K., Germany, France, Benelux, Nordics
Emerging markets: Poland and Russia
Major payment methods
- European purchasers use international cards — VISA, American Express, MasterCard,— as well as debit cards and local card schemes.
- Different countries also prefer specific non-card payment methods. For example, ELV in Germany and Internet Bank Payments in the Netherlands, Austria, Nordics and Germany.
- Emerging and other payment preferences include online payment solutions, PayPal, prepaid solutions or cash based solutions.
Challenges and Netgiro’s response
- Emerging payment methods — Netgiro carefully tracks the new international initiatives that are striving to harmonize domestic payments across Europe.
- Variety — Different languages and multiple, locally based payments create a complicated mix. Netgiro standardizes everything (from choosing right payments, to set-up and operations), which simplifies back office tracking and reconciliation.
- Fraud concerns: The variety of payment methods equals a variety of fraud concerns. Netgiro helps our clients address the risk broadly as well as fraud associated with individual payment methods.
Is your European program missing any important local payment methods?
Contact us to discuss your current program or for a program bid.