The Deep dive: shifting payment methods among Europeans

By Puja Sharma

The deep dive’ is our bi-weekly exploration of a relevant topic, hot trend, or new product. For Prime subscribers only.

How does it work?

Over half (53%) of European shoppers are willing to switch to a new type of online payment method, especially when incentivised with faster checkout, discounts or rewards.

• Nearly half (48%) would consider using one-click purchases, but concerns about trust and security continue to hold some consumers back.
• 43% of consumers say they wouldn’t return to a retailer after a poor checkout experience, highlighting the importance of speed, simplicity, and security for business growth.

Europeans are increasingly willing to switch online payment methods to access greater speed, convenience and security when shopping, new research from leading European financial technology provider, payabl., finds.  

More than half (53%) of consumers are open to switching to newer payment methods, with nearly a third (30%) willing to do so for a faster checkout process. However, while convenience and speed are major drivers for the take-up of new payment methods, the findings show that security and trust remain essential for European shoppers when deciding how to pay. 

Who is under the radar?

The findings, part of payabl.’s latest report – The State of European Checkouts – show that e-commerce is now essential for many European shoppers, with 48% shopping online weekly, spending an average of £53 per transaction.  

Ugne Buraciene, Group CEO of payabl., said, “Online shopping has become second nature for consumers, but how they choose to pay is far more intentional than many businesses realise. Our research shows people are open to new ways to pay, but only if it makes their lives easier and feels secure. 

“This presents a challenge for retailers, but also a real opportunity. The checkout isn’t just a final step – it’s a critical moment to build trust, encourage repeat purchases, and differentiate from competitors. Businesses that can offer both speed and safety, with payment options that reflect local preferences, will be the ones that win customer loyalty and drive growth.” 

Payments are personal – and regional 

PayPal is the top online payment method for Europeans, with 50% ranking it in their top three methods. Debit cards (39%) and credit cards (33%) follow, but regional preferences vary widely. In the UK, debit cards dominate (63%), while PayPal is the top choice in Germany (71%). In the Netherlands, local method iDeal takes the lead (39%), underscoring the importance for businesses to cater to local payment preferences. The UK and the Netherlands are twice as likely to prefer using mobile wallets for online payments as Germany (19% vs 9%). 

Consumers overwhelmingly cited speed (46%), convenience (44%) and security (41%) as the top reasons for choosing a payment method, more so than habit (21%) or widespread acceptance (29%). This suggests consumers are actively choosing their payment methods, not just sticking with what they know. 

Moreover, consumers are also switching payment methods depending on the context; 62% say the value of a purchase influences their choice, with 44% turning to credit cards for high-ticket items, often for the added protection (58%).  

For businesses, this presents both a challenge and an opportunity: offer the right mix of localised options or risk losing the sale, but also consider promoting new methods, as 53% of consumers say they’re open to trying alternatives, especially when incentivised with cashback, discounts or loyalty rewards. 

One-click or no one-click, trust is key  

A seamless checkout experience is more than a nice-to-have – it’s a competitive edge. 43% of consumers say they wouldn’t return to a site after a poor checkout experience, with UK shoppers the least forgiving. The biggest barriers to completion are unexpected delivery charges and being forced to create an account. 

Meanwhile, 48% are open to one-click checkouts, but only if the solution is backed by a trusted brand like Visa, Mastercard or a reputable retailer. A quarter (23%) remain unwilling to use one-click options at all, highlighting the need for choice and transparency. 

Why does it matter now?

Security trumps speed

Perhaps unsurprisingly, nearly three-quarters (71%) of consumers are happy to slow down the checkout process if it means stronger fraud protection. But there’s confusion about who holds responsibility: 44% think it’s on retailers, banks or processors; 24% believe it’s the consumer; and 32% just aren’t sure.

David Birch, Global Ambassador for Consult Hyperion, said: “The research clearly shows that one size doesn’t fit all – regional preferences matter and personalisation can make a real difference. Offering a wide range of payment options, from digital wallets to local methods, and backing them with robust fraud protection and clear communication, can make all the difference in turning shoppers into repeat customers.   

“To capitalise on the growth of online shopping, retailers must prioritise a seamless and secure checkout experience, with unclear fees, account creation, or poor design likely leading to cart abandonment. The checkout must be seen as more than a point of transaction and instead seen as a way to foster trust and loyalty, boosting conversion rates in the process.” 

payabl. is a leading financial technology provider that offers a wide range of payments products, including card acquiring, multi-currency business accounts, local payment methods, and POS terminals. Offering companies the best ways to supercharge their growth with payments tech, smart fraud prevention, and dedicated customer support. payabl. is committed to fast and secure payments with one-click payment technology and 24/7 fraud prevention technology.