Europe is not a single market when it comes to payments. While Visa and Mastercard are accepted globally, local payment methods still dominate in many countries. Ignoring them can cost merchants up to 40% of their potential sales.
Key Local Methods by Region
- Netherlands: iDEAL (60%+ market share)
- Belgium: Bancontact (Leader in debit transactions)
- Poland: BLIK (Mobile payments)
- Germany: PayPal & SEPA Direct Debit
- Sweden: Swish
The Role of PSPs
Providers like Mollie, Adyen, and Stripe excel at aggregating these local methods into a single integration. For example, Mollie offers "Growth" focused solutions that automatically enable relevant local methods based on customer location.
Merchants expanding into the EU must prioritize these local preferences to build trust and increase authorization rates.