Maestro and giropay win ground as payment methods in European e-commerce

(firmenpresse) - Cologne, 29 October 2009 – Modern payment methods are gaining ground in European e-commerce. While more than 80% of all purchases are still paid for by credit card, the market shares of Maestro and giropay have risen again. In fact, Maestro is on rank three of the preferred online payment methods in Europe. These are some of the results of the E-Commerce Report 2009, which was recently published by Deutsche Card Services. In contrast to other research, the study of the Deutsche Bank subsidiary on “Trends in E-Commerce Purchasing and Payment Behaviour” is based on real-life transactions, not on surveys. The database consists of roughly 30 million purchase transactions processed via the platform of Deutsche Card Services between October 2007 and September 2008.

+++giropay and Maestro establish themselves as new online payment methods+++
Other modern payment methods are catching up at the expense of their more traditional counterparts. giropay already has a market share of more than 3% in Europe as a whole, even though this new online payment method was not introduced until 2006. It combines the advantage of immediate order processing and the security and widespread use of online banking. giropay is based on the PIN/TAN procedure and meets the highest possible security requirements.

British consumers already pay for one out of ten transactions via Maestro. In contrast to their British counterparts, the Maestro or EC cards issued in Germany are not yet equipped for online payment. German consumers still prefer direct debits, even though their popularity is declining. Outside Germany and the UK, i.e. in the rest of Europe and outside Europe, the market share of other payment methods than credit cards is almost zero.

+++Modern online payment methods preferred for high transaction values+++
For e-commerce merchants, customers who use a modern online payment method to pay for their purchases are more attractive than those who prefer offline methods (e.g. COD). The reasons are not only security aspects and more expensive settlement, but also the fact that the average transaction values are higher if customers pay online. This hypothesis is confirmed by the E-Commerce Report 2009 of Deutsche Card Services. Despite their lower market shares, buyers who use MasterCard or other credit cards even generate higher average transaction values than Visa users. giropay has the largest market share in transaction values above EUR 500.

+++Visa again increases its market share in e-commerce+++
According to the E-Commerce-Report 2009, Visa has increased its market share in European e-commerce at the expense of MasterCard. Visa is used for more than 70% of all online transactions paid for by credit card. That means that Visa has steadily increased its market share by a total of almost 8pp since 2004/05. Its competitor MasterCard only has a share of 27.5% today, down from more than 32% three years before. Other credit card brands divide up the rest of the market; German and non-European customers are their main users. American Express, Diners Club and retailer credit cards are the most important “other” credit cards. Women pay for one out of seven e-commerce transactions by “other credit cards”.

+++Credit card has become the most important online payment method for German men+++
Men and women use different payment methods in e-commerce. This is clearly confirmed by the E-Commerce Report 2009 of Deutsche Card Services. The difference is particularly striking for German consumers: While men use credit cards for more than 40% of their purchases, making it their preferred payment method, women continue to use the more traditional direct debit method. At 43.4%, its share is 9pp higher among German women than that of credit cards. In contrast, there is no particular gender difference in the use of MasterCard for payments, according to the E-Commerce Report 2009. MasterCard’s share among European men and women is almost identical in all shops. Its competitor Visa is more popular among men than among women in all regions.

+++E-Commerce Report 2009 segues seamlessly from former issues+++
The E-Commerce Report 2009 segues seamlessly from the former issues published as “Pago Reports”. The study only sheds a light on purchase transactions in European shops, since only merchants domiciled in Europe use the Deutsche Card Services platform. The transactions are initiated by customers from all over the world. The E-Commerce Report 2009 distinguishes between consumers from Germany, the United Kingdom (UK), the rest of Europe and countries outside Europe. It covers both traditional payment methods such as credit cards, direct debiting and offline payment methods (e.g. COD) and ever more popular new online payment methods such as giropay and Maestro.

The E-Commerce Report 2009 is available at a price of EUR 500 (excl. VAT) from the online shop of Deutsche Card Services from now on. For more information please see www.deutsche-card-services.de.

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Datum: 29.10.2009 - 07:31 Uhr
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