More Online Payment Solutions Needed in European Union


Broad palette of payment solutions with mass adoption leads to more business for web retailers

Europe needs a broader variety of payment solutions. Ecommerce Europe ( made this comment today in a response to the European Commission’s green paper on online payments. The European Commission is currently focusing too much on reducing the costs of payment systems, whereas e-commerce players also have other requirements.

Wijnand Jongen of Ecommerce Europe: “Reducing costs is a noble ambition. However, this is not sufficient. One of the biggest bottlenecks for online retailers in Europe is the lack of cross-border payment solutions. especially the ones based on online banking. Simply not enough consumers can pay this way. Innovation is key. In the field of payment solutions, Europe is still a complete hodgepodge, when it comes to non-card payments, despite the fact that forming a common internal market is actually one of the most important objectives of the European Union. Internet usage and online sales are, by definition, cross-border activities. The least one might expect of Europe is that they provide an environment in which cross-border payment systems can flourish.”

Greater ease of use and more turnover

Ecommerce Europe states that it is time for measures to encourage providers to come up with innovative ideas for cross-border payment options, securely available to large masses of buyers. “Having numerous efficient payment solutions with large consumer reach would be in the interest of both online retailers and consumers. It would help boosting e-commerce in Europe.”

Correct priorities

In its response to the European Commission, Ecommerce Europe indicated what they regard as the right sequence of priorities. Wijnand Jongen: “The availability of massively available secure payment methods that fulfill consumers’ needs will ensure that interested consumers actually start purchasing products and services online. It will result in conversion which is crucial to the growth of online retail in Europe. Once payment methods are massively adopted, reducing cost becomes a top priority.

Make room for innovation

The new lobby organisation fears that focusing on reducing costs only will not help to promote innovation in the field of payment transactions. At the same time, Ecommerce Europe hopes that the European Commission is taking the signs from the industry seriously. Wijnand Jongen: “The fact that the Commission has asked for our opinion is a positive sign. We accept the challenge and want to work together with the European Commission towards an excellent network of payment systems in Europe.”