In Italy, the usage of payment cards has historically been lower than in other European countries, with cash continuing to be the preferred payment method among consumers, influenced by several cultural factors. However, payment card usage has increased- from 13% of the total consumer transaction volumes in 2019 to 26% in 2022. Elisabetta Nadal (Business Analyst, London) reviews the dynamic changes in payment acceptance trends in Italy within the broader context of the evolving payment landscape in Europe.
Charlotte Piron (Consultant, Paris) explores the rising prominence of BNPL in physical retail, highlighting its impact on consumer behaviour and the steps major players are taking to adapt to this shift. The article also discusses the key benefits of in-store BNPL for providers, merchants, and consumers, emphasizing its potential to elevate the shopping experience and delves into how traditional banks are responding to the growing appeal of BNPL and the regulatory changes that may shape the future of the industry.
Mark Beresford (Director, London) and Martin Koderisch (Principal, London) supported the Payment Leader’s Summit (PLS-UK) which was held last month, 11th and 12th October, and hosted at Syon Park in west London. Mark Beresford (Director, London) summarises the event in this post-event article.
Pre-pandemic, merchants in Europe were falling over themselves to accept Chinese payment methods both in store and online. According to the World Tourism Organization (UNWTO), there were 141 million Chinese visits to Europe in 2019. Also, according to UNWTO, Chinese tourists spent an average of €1,919 per day in Europe in 2019, which is significantly higher than the average spending of other nationalities. The affluence of the Chinese middle class continues to grow rapidly, meaning the segment has more disposable income to spend on travel. In 2022 we only saw 25 million Chinese visits to Europe, representing a 44% compound decrease in visitor numbers between 2019 and 2022. As more global travel restrictions are relaxed, Mark Beresford (Director, London) has looked at the importance of accepting Chinese payment methods for merchants across Europe.
Samee Zafar (Director, London) recently spoke with Vibhor Mundhada, CEO at NEOPAY. During the conversation, Vibhor shared his views on the e-commerce market in the GCC region, as well as the future of NEOPAY.
EDC has diligently been tracking and maintaining a comprehensive database of Payment Orchestration Platforms (POPs) since April 2020. Over time, this database has evolved significantly, encompassing a wide range of both agnostic and full stack providers in the payment orchestration space. Mark Beresford (Director, London) and Tom Robins (Business Analyst, London) look over the last three years and describe what has changed in the EDC POP Database.