European financial technology provider, payabl. has published new findings revealing that 53 per cent of consumers are open to switching to new payment methods, providing security and trust expectations are met.
The research, published as a part of payabl.’s latest report – The State of European Checkouts – show that e-commerce is now essential for many European shoppers, with 48 per cent shopping online weekly, spending an average of £53 per transaction. How these shoppers pay is not set in stone though, as payabl. uncovers that access to greater speed, convenience and security when shopping, could see them change their payment method.
PayPal is the top online payment method for Europeans, with 50 per cent ranking it in their top three methods. Debit cards (39 per cent) and credit cards (33 per cent) follow, but regional preferences vary widely. In the UK, debit cards dominate (63 per cent), while PayPal is the top choice in Germany (71 per cent).
Meanwhile, in the Netherlands, local method iDeal takes the lead (39 per cent), underscoring the importance for businesses to cater to local payment preferences. The UK and the Netherlands are twice as likely to prefer using mobile wallets for online payments as Germany (19 per cent vs nine per cent).
Reasons for change
Consumers overwhelmingly cited speed (46 per cent), convenience (44 per cent) and security (41 per cent) as the top reasons for choosing a payment method, more so than habit (21 per cent) or widespread acceptance (29 per cent). This suggests consumers are actively choosing their payment methods, not just sticking with what they know.
Moreover, consumers are also switching payment methods depending on the context; 62 per cent say the value of a purchase influences their choice, with 44 per cent turning to credit cards for high-ticket items, often for the added protection (58 per cent).
For businesses, this presents both a challenge and an opportunity: offer the right mix of localised options or risk losing the sale, but also consider promoting new methods, as 53 per cent of consumers say they’re open to trying alternatives, especially when incentivised with cashback, discounts or loyalty rewards.
A seamless checkout experience is more than a nice-to-have – it’s a competitive edge. Forty-three per cent of consumers say they wouldn’t return to a site after a poor checkout experience, with UK shoppers the least forgiving. The biggest barriers to completion are unexpected delivery charges and being forced to create an account.
Meanwhile, 48 per cent are open to one-click checkouts, but only if the solution is backed by a trusted brand like Visa, Mastercard or a reputable retailer. A quarter (23%) remain unwilling to use one-click options at all, highlighting the need for choice and transparency.
Security trumps speed
Perhaps unsurprisingly, nearly three-quarters (71 per cent) of consumers are happy to slow down the checkout process if it means stronger fraud protection. But there’s confusion about who holds responsibility: 44 per cent think it’s on retailers, banks or processors; 24 per cent believe it’s the consumer; and 32 per cent just aren’t sure.
Building trust
Commenting on the report, Ugne Buraciene, group CEO of payabl., said: “Online shopping has become second nature for consumers, but how they choose to pay is far more intentional than many businesses realise. Our research shows people are open to new ways to pay, but only if it makes their lives easier and feels secure.
“This presents a challenge for retailers, but also a real opportunity. The checkout isn’t just a final step – it’s a critical moment to build trust, encourage repeat purchases, and differentiate from competitors. Businesses that can offer both speed and safety, with payment options that reflect local preferences, will be the ones that win customer loyalty and drive growth.”
David Birch, global ambassador for Consult Hyperion, said: “The research clearly shows that one size doesn’t fit all – regional preferences matter and personalisation can make a real difference. Offering a wide range of payment options, from digital wallets to local methods, and backing them with robust fraud protection and clear communication, can make all the difference in turning shoppers into repeat customers.
“To capitalise on the growth of online shopping, retailers must prioritise a seamless and secure checkout experience, with unclear fees, account creation, or poor design likely leading to cart abandonment. The checkout must be seen as more than a point of transaction and instead seen as a way to foster trust and loyalty, boosting conversion rates in the process.”
