Business Wire

RAPYD

Share
REPORT: Nearly 70% of Europeans Prefer Direct Bank Transfers As Top Preferred Method to Get Paid, According to Rapyd

Nearly seven out of 10 (67%) Europeans demand direct bank transfers as their most preferred method to be paid, indicating the growing need for businesses to provide fast and secure payments in consumers’ preferred payout methods.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220922005160/en/

To view this piece of content from mms.businesswire.com, please give your consent at the top of this page.

Source: Rapyd’s 2022 European eCommerce and Payment Methods report (Graphic: Business Wire)

That’s according to a new report released by Rapyd, the leading fintech-as-a-service partner, after conducting research to understand consumer choices, considerations and preferences in nine European countries; including data on how consumers prefer to pay and receive payments.

Rapyd’s European State of Disbursements report finds that access to, and interest in, financial technology apps is very high among consumers in the nine European markets surveyed. Europeans are embracing financial services apps for everything from banking, everyday spending and managing their investments. The findings show that 74% of European consumers use a mobile banking app, 50% use an eWallet app, 50% use a credit or debit card app, approximately one in six (16%) use an investment fund app and approximately one in eight (12%) use a personal financial management app.

Rapyd’s European eCommerce and Payment Methods report also indicates that Europeans increasingly rely on phones for payments, financial management and eCommerce. Over half (52%) of Europeans report purchasing clothes online via mobile over the past three months, compared to 46% via laptop. Furthermore, the overwhelming majority of Europeans who purchased takeaway over the last 3 months did so via mobile (70%) compared to laptop (28%).

Rapyd’s State of Disbursements report also noted that Europeans are early adopters of fintech, prioritizing data security and lower costs when receiving payments. Only 16% are hesitant or lagging in the adoption of fintech. The data shows that 82% rank keeping their personal information secure as the most important feature for payouts, and over 70% of respondents do not want to pay any transaction fees.

The report further analyzes and compares each market’s attitudes towards fintech adoption. Interestingly, Spain had the highest number of early adopters or consumers more likely to be open to new fintech solutions (27%), followed by Iceland (22%) and Germany (20%). On the other hand, Denmark (54%), France (47%) and the UK (44%) had the highest number of consumers who identified as the ‘late majority.’ The analysis notes that these consumers are less likely to explore new financial technology, instead preferring to use the same platforms as family and friends.

Over half of global online transfers are currently made with local or alternative payment methods. This, coupled with the rapid growth of marketplaces and gig economy models, is driving the need for new payout technology in Europe, notes the report.

Rapyd also notes that with the roll-out of the Single Euro Payments Area (SEPA) continuing and the Nordics’ P27 payments initiative unfolding, real-time payments in Europe are here to stay, emphasizing the need to keep abreast of country-specific regulations. As such, the company is calling on businesses to ensure they have the infrastructure in place to guarantee reliable mass payouts driven by local preferences.

Commenting on the findings, Arik Shtilman, CEO of Rapyd, said:

“The companies that solve the technological challenges of disbursing funds in Europe will surge ahead of their competition. It’s critical that businesses responsible for online financial transactions have partners that can support them in delivering reliable payout and payment solutions, can keep on top of local regulations and can stay on top of consumer preferences. The businesses that invest in dynamic tech solutions to guarantee reliable mass payouts will no doubt enjoy stability and growth through better engagement, loyalty and beneficiary preference.

“Furthermore, given the growth of marketplaces and gig-economy platforms, working with partners that understand the evolving fintech space is key. Disbursing funds to a seller or worker is typically tied to individual sales on different platforms. This can be incredibly complex, as in many cases, the buyer, seller and platform provider are all in different locations. We recommend that businesses ensure local preferences are driving their payout strategy, with a particular focus on speed, security and choice, as these factors help drive greater use and adoption and build loyalty and trust.”

Rapyd’s 2022 European eCommerce and Payment Methods report and 2022 European State of Disbursements report are available here.

Notes to Editors:

Survey Methodology

Rapyd surveyed 4,286 adults (18+) in Denmark, France, Germany, Iceland, Italy, Netherlands, Sweden, Spain and the United Kingdom online in March and April 2022. All respondents made an online purchase in the previous month and were nationally representative across age and income scale.

About Rapyd

Rapyd lets you build bold. Liberate global commerce with all the tools your business needs to create payment, payout and fintech experiences everywhere. From Fortune 500s to ambitious business and technology upstarts, our payments network and powerful fintech platform make it easy to pay suppliers and get paid by customers—locally or internationally.

With offices worldwide, including Tel Aviv, Dubai, London, Iceland, San Francisco, Miami and Singapore, we know what it takes to make cross-border commerce as easy as being next door. Rapyd simplifies payments so you can focus on building your business.

Get the tools to grow globally at www.rapyd.net. Follow: Blog, Insta, LinkedIn, Twitter.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220922005160/en/

About Business Wire

Business Wire
Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco

http://businesswire.com
DK

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Vertex Announces Broad Reimbursement Agreement With NHS England for ALYFTREK® (Deutivacaftor/Tezacaftor/Vanzacaftor) an Innovative Once-Daily CFTR Modulator for the Treatment of Cystic Fibrosis15.7.2025 01:01:00 CEST | Press release

- All eligible people with CF in England can now benefit from this medicine - Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) announced today that it has reached a broad reimbursement agreement with NHS England for Vertex’s cystic fibrosis (CF) medicine ALYFTREK® (deutivacaftor/tezacaftor/vanzacaftor). This agreement comes as the National Institute for Health and Care Excellence (NICE) has issued a positive final draft recommendation for this medicine. This next-in-class triple combination treatment is licensed for people living with CF aged 6 years and older who have at least one F508del mutation or another responsive mutation in the cystic fibrosis transmembrane conductance regulator (CFTR) gene. “We’re proud that ALYFTREK®, our fifth CF medicine, is available today as another treatment option for all eligible CF patients in England. It represents a significant milestone in our journey to serially innovate and further improve the lives of people living with this disease,” said Lud

SES Receives All Required Regulatory Approvals to Complete Intelsat Acquisition14.7.2025 22:15:00 CEST | Press release

SES received the final regulatory approvals for the SES-Intelsat transaction, including the US Federal Communications Commission. On 30 April 2024, SES and Intelsat announced an agreement for SES to acquire Intelsat for a cash consideration of $3.1 billion (€2.8 billion). The transaction was subject to receipt of relevant regulatory clearances and other relevant requirements which all have now been obtained. As a result, SES plans to close the transaction on or about Thursday, 17 July 2025. Once closing has occurred, a press release will be published to confirm that the transaction has successfully closed. Follow us on: Twitter | Facebook | YouTube | LinkedIn | Instagram Read our Blogs > Visit the Media Gallery > About SES SES has a bold vision to deliver amazing experiences everywhere on Earth by distributing the highest quality video content and providing seamless data connectivity services around the world. As a provider of global content and connectivity solutions, SES owns and ope

Loomis Sayles Celebrates 15 Years of Growth Equity Strategies Team Under Leadership of Aziz V. Hamzaogullari14.7.2025 22:05:00 CEST | Press release

Loomis, Sayles & Company: This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250714614048/en/ 90.7 160 1 BILLION IN ASSETS UNDER MANAGEMENT COMBINED YEARS OF INVESTMENT EXPERIENCE INVESTMENT PHILOSOPHY GES Team As of 5/31/2025 GES Team As of 5/31/2025 Supported by a seven-step research framework Loomis, Sayles & Company proudly celebrates the 15-year anniversary of a differentiated approach to growth equity investing under the leadership of Aziz V. Hamzaogullari, CFA, the founder, chief investment officer and portfolio manager of the Loomis Sayles Growth Equity Strategies (GES) Team. Aziz is also an executive vice president and a member of the firm’s Board of Directors. GES is a cohesive team with nearly 19 years of alpha generation and a long-term, private equity approach to investing. Under Aziz Hamzaogullari’s leadership since 2010, assets under management for GES have grown from $1.9 billion to nearly $91 billion as of 31 Ma

Cessna Skyhawk Soars With Enhanced Efficiency: Solid-State Dual Electronic Ignition System Introduced to the Industry-leading Piston14.7.2025 18:00:00 CEST | Press release

The industry-leading training aircraft, the Cessna Skyhawk, now features a dual electronic ignition system (dual EIS), enhancing maintenance, efficiency and overall operation of the single-engine, high-wing piston. The dual Lycoming electronic ignition system is now standard on all new Cessna Skyhawk aircraft. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250714759359/en/ Cessna Skyhawk soars with enhanced efficiency: solid-state dual electronic ignition system introduced to the industry-leading piston (Photo Credit: Textron Aviation) The Cessna Skyhawk is designed and produced by Textron Aviation Inc., a Textron Inc. (NYSE: TXT) company. The dual EIS replaces the previous dual magneto ignition system on the Skyhawk, incorporating advanced electronic components and reducing the number of internal moving parts to optimize operation. This solid-state electronic technology improves maintenance intervals, fuel efficiency and en

The 2025 Empire State Building Run-Up Returns Oct. 814.7.2025 17:48:00 CEST | Press release

Presented by NYU Langone Health and Powered by the Challenged Athletes FoundationLottery Opens July 14 The Empire State Building (ESB) announced today general lottery registration for the annual Empire State Building Run-Up (ESBRU) on Oct. 8, 2025, at 8 p.m. ESB also announced the ESBRU will be presented by NYU Langone Health and powered by the Challenged Athlete’s Foundation. General lottery registration will be open from July 14 through July 28, 2025. In the 47th annual Run-Up, 225 runners will race up the iconic building’s 1,576 stairs to the world-famous Observatory. This year’s heats will include elite men and women, media, celebrities, New York City real estate brokers, building tenants, CAF athletes, members of the NYPD and FDNY, and the public, among others. On July 30, registered runners will be notified of their race status with participation costs of $175 per runner to be charged only upon acceptance from the lottery. “We are delighted to welcome NYU Langone Health as our ne

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom
World GlobeA line styled icon from Orion Icon Library.HiddenA line styled icon from Orion Icon Library.Eye