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.

Digital wallet solution use the latest innovative technologies in IT security and persistently enhance fraud and anti-money laundering procedures to minimize fraud and operational risks.
R Pay, secured online payment solution helps your businesses grow and have your business in the palm of your hands. R Pay provides features like hassle- free sign up, load and send money, withdraw cash, pay merchants, buy tickets, instant notification, limited liability etc.

Our digital wallet solution is feature rich with simple to utilize interface and we have trained developers and designers, who are ready to corporate to client contemplations and push your business to the top.

The technology we use in digital wallet solution helps you to become most regarded mobile payment solution suppliers that empower money related comprehensiveness for all people. Digital payment solution decrease the payment time and enhance business.
It may have once in a while unfolded to go over a site like R Pay that you start regarding owning such a site promptly.

You are presently close transforming into your favored real proprietor of the site. You have the decision to endeavor an arranged adaptable wallet.  R Pay group of designers, after minutely looking at your foreordained requirements, gets down to the matter of trim and propelling your favored site – anyway definite and complex.

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

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