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The Most Popular Payment Methods in Europe

Banking has been an ever changing sector since the early 90s when the internet started becoming popular. It became easier to automate processes and improve the way functions were rendered out and used. 

Since the start of the pandemic, there has been an even more rapid growth in the use of online payment methods for digital commerce and digital remittances.  

2021 saw a rapid growth in digital payments – with the focus on digital commerce, digital remittances, and mobile POS payments. In Europe alone, there are over 1.2 million digital payment users, more than 300,000 users since 2020. 

The current forecast shows that by 2025 there will be more than 2 million Europeans who will make use of digital pay, and globally there will be just under 10.4 million users.

Digital payment platforms are more popular than ever before and they provide a myriad of options to choose from. But there are still other ways to make payments, like online- and cash transactions. 

Europe’s most popular payment methods

The majority of European countries are connected to the internet, facilitating online payments and e-commerce. Most Western-Europeans (36%) prefer to pay with debit or credit cards, whether online or at physical outlets based on a survey done by Payments Europe in 2019. 

However, when looking at the most popular payment methods in Europe in 2021 digital wallets have proven to be a growing preference (42%). 

This is mainly due to the growth in the Fintech sector since the start of the pandemic, as it forced people to support e-commerce and online platforms as shopping alternatives. 

There are other popular payment methods in Europe like bank transfers (21%), cash on delivery (13%), or direct debit (11%). 

Methods such as cash on delivery, is a preferred method of payment for some Eastern-European countries. This means of transacting as a preferred method could be for reasons like; the fear of their data being stolen, ensuring the purchase is not a scam, or just generally prefer cash transactions. 

This means that in the year 2021, digital wallets have become the most popular payment method in Europe, as it is seen as more safe , secure and convenient in most cases. 

Most popular payment methods for some European countries




The United Kingdom

Visa and Mastercard


The Netherlands




Digital wallets 



Digital wallets 






Digital wallets 





Advantages of PayPugs 

Paypugs is an international company with a global team that can speak multiple languages collectively. We understand the frustrations of setting up bank accounts, making online payments, and sending money across borders. 

As a digital payment service provider, there are many services that we offer, and many more we can customise to fit the needs of business and individuals. We offer IBAN, bank cards, digital cards, and Banking as a Service (BaaS). 

We also offer full support and enable clients and businesses with the value-add of global banking opportunities. Within our offerings we provide our clients with multi currency IBAN accounts, Visa virtual debit and prepaid cards, International SWIFT and SEPA payments, and Forex exchange between 39 currencies. 

With a PayPugs account, our clients enjoy the benefit of opening accounts swiftly and without hassle. An account with PayPugs also gives our clients the peace of mind that their data will be safe when making online purchases through use of our digital cards – designed with  identity protection from online criminals in mind.

Being a PayPugs customer allows for a competitive advantage in most sectors. To become a PayPugs customer, book a call with us to discuss how we can assist.

Join the collaboration platform designed with collaborators, freelancers, start-ups, organisers, project managers and business owners in mind.

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