The Oney Group presents the results of its survey on the perception and habits of banking transactions in Europe, conducted in April 2019 with more than 4,000 respondents. On average, consumers use more than 5 different payment methods, but bank cards remain the preferred solution for Europeans.

Croix, September 24th , 2019 – Oney, an international bank with expertise in innovative purchasing and payment processes and the French leader in split payment, presents its first study of payment habits in Europe. This survey, conducted in partnership with OpinionWay and Altavia in 2019, provides a fresh look at consumer banking practices in four of the countries where Oney operates: France, Spain, Portugal and Poland.

Consumers want choice in their payment methods

For 35 years, Oney has taken advantage of its expertise throughout the purchasing and payment process to understand the behaviour of European consumers and to decode the trends that will transform tomorrow’s purchases.

In many areas, today’s buyer is not the same as yesterday, starting with the payment methods he / she uses, which reflect the wide range of choices available to him / her. On average, French, Spanish, Portuguese and Polish use more than 5 different payment methods (CB, cash, payment account, prepaid card, mobile payment, etc.) to pay for their purchases.

The Spanish public is the most flexible and alternates on average between 6.4 different payment methods, depending on the situation.

In the 4 countries surveyed, the most commonly used method of payment is also the preferred method of payment. The bank card is unanimously accepted among the respondents and is preferred by 71% of the French, 68% of the Poles, 60% of the Portuguese and 49% of the Spanish.

French, Spanish, Portuguese and Polish have similar expectations at the time of purchase. Security, simplicity and speed at the time of payment are major expectations for all consumers.

In Europe, PayPal remains the most widely known and used Peer-to-Peer application and is one of the Top 5 preferred payment solutions. Only one in ten consumers uses Lydia, Pumpkin or Splitwise. In France, for example, 72% of respondents use PayPal, compared to 9% for Lydia.

Consumers are in favour of split payment to choose their brands

The study confirms this: split payment is a strong consumer expectation and an asset for brands. Multi-step payment is used in France (59%), Poland (60%), Spain (62%) and Portugal (62%) in the same proportions: 6 out of 10 consumers use it at least once a year.

European consumers are frequent users of split payments.

Split payment has become a decisive payment facility in the purchasing decision: 1 in 2 European consumers would give up or postpone their purchase if their merchant did not offer to pay in several instalments and one third of the respondents chose brands that offer payment in several instalments as a priority.

The 18-34 year olds are particularly sensitive to this service and choose in priority the brands that offer payment in several instalments.

Also, for 20% of French people, the possibility of paying in several instalments can also encourage them to buy online. Split payment becomes an expected service as well as delivery or the ability to return items easily.

Consumers generally use split payments for large amounts (100 to 500€), with France (40%) and Portugal (27%) leading the way.

The profile of consumers using split payment varies from one country to another. In France, Spain and Portugal, it is the “young people” (69% for 18-24 year-olds in France, 71% for 25-34 year-olds in Spain and 68% for 25-34 year-olds in Poland) who most often use payment in several instalments. The “seniors” are not to be outdone: in Portugal, it is the 45-54 age group (68%) and the 55 and over age group (67%) who use it the most. Concerning social categories, there is little difference: in France, 60% of CSP+ use it, 63% of CSP-; in Poland, 68% of those who have adopted this solution are part of CSP+.

Innovative payments: security as the first criterion for choice

Consumers in the four countries surveyed are becoming increasingly accustomed to the use of innovative payment methods: 10 to 25% have already used new payment methods (mobile, biometric payment, payment by connected objects, social networks, etc.).
Mobile payments are making a place for themselves, slowly but surely: they are perceived above all as practical, but also as a way to feel “up to date”, free or connected. In Portugal (27%), Spain (23%), and Poland (29%), 3 out of 10 consumers use their mobile phones to pay. The French are more reluctant to use it: only 12% of them use it. When this is the case, respondents use it mainly for food and clothing products.

Mobile payments are gaining ground: in Poland, 1 in 3 consumers already use them.

In stores, autonomy is king and the payment services that go with it are multiplying: automatic checkouts (often used by 74% of the French), free scanning (40% of users in Spain) or “Test & buy”. (14% of regulars in Poland). While 65% of French people still use direct payment via the seller, reflecting their attachment to human contact, the new payment practices reflect their need for autonomy.

While they are willing and used to paying differently, in store and online, 9 out of 10 consumers expect a payment method to be safe, a condition that can become a barrier to buying if it is not met. Among the 4 customer expectations, security comes first: security (53%), simplicity (16%), speed (13%) and confidentiality (12%).

Among those who refuse to pay online, security and trust remain a major concern for 28% of French, 23% of Spanish, 19% of Portuguese and 6% of Poles.

Consumers still reluctant to go digital and waiting for human touch in their shopping experience

Consumers still reluctant to go digital and waiting for human touch in their shopping experience

More than half of European consumers would not be bothered by the disappearance of cash payment: 53% of French, 73% of Spanish, 74% of Portuguese and 84% of Poles say that this is progress or that they are indifferent to it.

Overall, European consumers are open to new shopping experiences and are already using biometric payment (fingerprint, retinal, facial recognition) or voice. Indeed, 13% of the French have already used biometric payment, 11% payment by voice.

Nevertheless, many are still suspicious of future payment methods, especially if they are 100% digital: faced with purchases automatically debited from a store, many would regret the lack of human contact (41% of the French, 33% of the Portuguese) and would have the impression of leaving without paying (37% of the Poles, 24% of the Spanish).

The study reveals a strong interest in new purchasing experiences, but the attachment to human contact remains intact: the act of purchasing is now generating satisfaction, despite expected areas for improvement (security, confidentiality, speed and maintaining human contact). People still have an essential role to play in the success of the shopping experience: for greater simplicity for 55% of the French, for safety for 41% of the Spanish and 47% of the Portuguese and for greater safety for 37% of the Poles.