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Payment methods: European habits under the microscope

Oney, a Groupe BPCE subsidiary and major player in split payments, with expertise in payment solutions, financing, digital identification and insurance, published at the end of 2019 its first survey of payment habits in Europe.

 
Conducted in partnership with Opinion Way and Altavia, this survey analyzes consumer practices in four of the European countries where Oney does business: Spain, Portugal, Poland, and France. Naturally, consumer habits differ. Here are a few of the lessons learned: 

Having a choice
Whether their preferred payment method is a bank card, cash, prepaid card or mobile payment, the primary concern of the consumers included in the survey is to enjoy a wide range of choices. On average, French, Spanish, Portuguese and Polish consumers use no fewer than 5 different payment methods to pay for their purchases. However, the bank card remains the preferred solution for Europeans (71% of the French and 68% of the Poles included in the survey).

Security above all
Second consideration: security consistently remains a priority for 9 out of 10 consumers, a condition that may even become a barrier to buying if this prerequisite is not satisfied. Moreover, among the 4 customer expectations, the need for security (53%) ranks far ahead of simplicity (16%), speed (13%), and confidentiality (12%).

The advantage of split payments
European consumers are also frequent users of split payments. This solution has become an asset not only for the brands that offer it but also for the consumers themselves. In France more than elsewhere (30%), the possibility of paying in several installments is seen as a decisive factor in the choice of a retailer.
 
Emphasis on human contact and quality of service 
Finally, the study looks at the payment methods of the future. Although European consumers seem to be generally open to new shopping experiences (Peer-to-Peer, Test & Buy, biometric or voice-based payments, etc.), many of them are still suspicious of future payment methods, especially if they are 100% digital. Direct payment to the seller is therefore still widely appreciated. 


Reminder: on October 22, 2019, Groupe BPCE finalized the acquisition of a 50.1% stake in the capital of Oney Bank, which it now owns in partnership with Auchan Holding. 
With its range of products & services and geographical presence complementary to those of Oney, Groupe BPCE wants to extend its field of expertise in specialized financial services, notably in the area of payments. Oney currently operates in 11 countries with 3,000 employees, 7.6 million customers, and 400 merchant and e-merchant partners.

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