Dutch consumers lead the way in Europe for mobile commerce
Global mCommerce to eclipse desktop sales by 2023 – and the Netherlands is soaring ahead
LONDON, January 22, 2019 – Dutch consumers are on an endless mission for convenience as mobile shopping continues its ascent to dominance, according to new data from Worldpay, Inc. (NYSE: WP; LSE: WPY), a global leader in the payments technology industry.
In its 2018 Global Payments Report, Worldpay found that the Netherlands has the fastest growing mCommerce market in Europe at a rate of 26 percent per annum. This mobile revolution is set to be powered by consumers’ embracing alternative payment methods, with a particularly steep rise in the adoption of e-invoicing. Worldpay’s report found that e-invoicing is on track to nearly triple its market share between now and 2022 to become the most popular form of online payment.
eWallets are also growing in popularity, increasing at a rate of 22 percent annually, ahead of bank transfers credit and debit cards – forecasted to almost double their market share over the next four years. However, with the rollout of PSD2 in Europe next year, other solutions like bank transfers may regain popularity depending on the uptake of new Open Banking solutions across the continent.
Mark Fleming, general manager for EMEA, Global Enterprise eCommerce at Worldpay, Inc., said: “In today’s world, people are reliant on their phones for multiple activities, from payments to financial planning. The rise of mCommerce is one such activity, and it grants merchants the opportunity to understand expectations from their respective markets.
Dutch consumers in particular have high expectations when it comes to mobile shopping, as the data shows. To stay ahead, merchants should invest in their own apps, building a seamless checkout experience across every device, and support a range of emerging digital payment methods.”
Worldpay has published guidance to help merchants capitalise on the global mCommerce opportunity:
- Consider developing a branded app, as the majority of shoppers prefer apps over mobile browsers when shopping on their smartphone.1 It’s no longer enough to just have a mobile-optimised website – if you’re not prioritising a transactional app for your brand, you’re not putting your best foot forward.
- Use biometrics to speed the journey. Shoppers are becoming increasingly familiar with fingerprint scanning and facial recognition, so do not shy away from using these methods as a form of authentication. Biometrics place payments at the back of the user’s mind, making the payment seem ‘invisible’.
- Identify the most popular payment methods in each territory in which you operate. There’s no one size fits all in any region so you’ll need to understand the best options for your company.
To learn more about these key insights and trends in global payments, visit https://worldpay.globalpaymentsreport.com/
About the 2018 Global Payments Report
The 2018 Global Payments Report offers a snapshot of the current payment landscape across 36 countries globally. Worldpay’s Market Intelligence team compiles the Global Payment Report using a combination of authoritative third-party vendors and other publicly available data. This compiled data was analyzed using Worldpay’s proprietary data model and categorization scheme, with support from McKinsey. The report also draws upon Worldpay’s decades of experience in providing global eCommerce solutions, informed by our processing of more than 40 billion transactions annually via more than 300 payment types, across 146 countries and 126 currencies.
The projected growth figures contained in this report were sourced from GlobalData and McKinsey and relate to the industry as a whole, not Worldpay’s business. The data has been collected using consumer surveys, B2B surveys and input from local research teams. 45,000 consumers were surveyed globally.
Any indicative predictions based on the data we have used should be treated as such. No representation or warranty, expressed or implied, is made by Worldpay, Inc.3 and/or any of its affiliates, directors, officers, employees, agents or advisers as to the reliability, accuracy, timeliness or completeness of any information, opinions or analysis contained in this document, which is not intended to be relied upon by you or any person for any purpose whatsoever.
Worldpay, Inc. (NYSE: WP; LSE: WPY) is a leading payments technology company with unique capability to power global omni-commerce. With an integrated technology platform, Worldpay offers a comprehensive suite of products and services, delivered globally through a single provider. Worldpay processes over 40 billion transactions annually, supporting more than 300 payment types across 146 countries and 126 currencies. The company is focused on expanding into high-growth markets and customer segments, including global eCommerce, integrated payments and B2B.