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Credit cards account for more than eight in 10 purchases at European online retailers whose transactions are processed by Deutsche Bank subsidiary Pago. That’s up 6 percentage points from a year earlier.
Credit cards are gaining ground as a way of paying European online merchants, and the Visa brand is gaining among credit cards, according to a new report from Deutsche Card Services GmbH, a subsidiary of Germany’s Deutsche Bank.
Credit cards accounted for 81.6% of purchases from European online retailers processed through Deutsche Bank’s Pago processing platform from October 2006 through September 2007, 6 percentage points higher than during the previous year, according to the report “Purchasing and Payment Behaviour in Online Retail.”
Another 5% of payments were made by offline methods, such as invoice, cash on delivery or prepayment. And nearly 12% of payments were made through direct debits to consumers’ bank accounts.
Among consumers in the United Kingdom credit cards account for 94.9% of purchases, with the remaining 5.1% being made with Maestro cards, a debit brand of MasterCard Worldwide.
German men use general-purpose credit cards, with such brands as Visa and MasterCard, for 50.4% of their online retail purchases. But German women use direct debits for 31.4% of purchases and retailer credit cards for another 42.7%, the report says.
Visa’s lead over MasterCard increased to more than 25% from 19% the previous year, according to the Pago report. Even in Germany, where MasterCard led a year earlier by 41.7% to 34.0%, Visa has pulled ahead to a lead of 44.4% to 35.4%. In other European countries, Visa’s lead over MasterCard is more than 36%, according to the Pago report.
Pago process transactions from some 6,000 online retailers in Europe. This report is based on an analysis of 7.5 million online retail transactions.