Who Needs Cards? The Rise of Alternative Payment Methods in Europe

Account-based payment methods offer certainty of payment, faster receipt of funds, reduced fraud risk, and lower cost.

London, 18 December 2019 –Alternative payment methods claim an increasing share of global e-commerce payment volume, challenging the position of cards as the dominant online payment method. This trend means a potential threat to the card business. Will the market reach an inflection point, and will card volume growth decrease as a result of consumers’ changing payment habits?

This Aite Group report analyzes the trend of APM usage in Europe, with a focus on the largest payment markets. It is based on 13 interviews, conducted between April 2019 and September 2019, with payment executives from banks and other payment service providers, merchants, card schemes, and consultancy firms active in Europe.

This 30-page Impact Report contains nine figures and five tables. Clients of Aite Group’s Retail Banking & Payments service can download this report, the corresponding charts, and the Executive Impact Deck.

This report mentions ABN Amro, ACI, AfterPay, American Express, Apple Pay, Bancontact, Blik, Carte Bancaire, Dankort, EBA Clearing, EMPSA, equensWorldline, Euro 6000, Girocard, GiroPay, Google Pay, iDeal, IATA Pay, Klarna, Mastercard, MobeyForum, MobilePay, Mollie, Multibanco, MyBank, Neteller, PagoBancomat, PayConiq, PayDirekt, PayLib, PayM, PayPal, PaySafe, PPRO, Samsung Pay, ServiRed, SIBS, Sisteam 4B, Skrill, Sofort, STET, Stripe, Swish, Trustly, Twint, Vipps, Visa, and Worldpay.

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