e-commerce in europe inforgraphic: the top payment methods
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E-commerce businesses who are still relying on credit cards and PayPay are missing out on the largest B2C marketplace in the world: Europe. Europe overtook the US as the world's largest market in 2010. Just how big is it? - 520+ million citizens - €312 billion in B2C market value However, there's a catch for US based e-commerce businesses looking to get a slice of the Euro pie... credit cards are used by no more then 50% of the market. The statistic for credit card penetration by country can be even more telling. Here are some examples: - 17% in Denmark - 7% in Luxembourg - 20% in Austria Conversely there are alternative payments methods available that have strong preferential status in some countries. The best example being iDeal in the Netherlands which has been used by 89% of shoppers. The top reasons we hear over and over again in the strongest European economies for wariness of credit cards are security and privacy. Given the high profile data breaches in the US of major retailers it's likely that this sediment will continue to strengthen. This infographic is a summary of the key benefits of educating your business and team if you would like to see more sales from your European traffic. Clark @clarkchambersTRANSCRIPT
