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Channel & Distribution

Purchase on account and PayPal are unbeatable

Internet consumers continue to prefer to buy on account, followed by PayPal. For payment service providers, this makes it difficult to convince consumers to use alternative payment methods.

28 Mar. 2018 David Schahinian
Source: ECC Köln
Source: ECC Köln

This is the conclusion of a new study conducted by the E-Commerce Center (ECC) at the Institute for Trade Research at the University of Cologne. Purchase on account, favored by 87%, and PayPal in second place, favored by 78%, were even able to extend their lead compared to previous studies. The rest of the top five are direct debit, credit card and instant bank transfer. According to the study, 73% of consumers always choose their favorite method if it is offered.

To avoid losing consumers at the virtual cash register, the authors recommend that online retailers offer the "payment favorites" in their own shop’s check-out. A majority is already doing so, but by no means everyone: 78% of retailers surveyed offered PayPal, while 71% offered purchase on account. A look at the target group is also interesting: PayPal beats out purchase on account for smartphone-savvy smart consumers.

An overall picture thus emerges, which is also confirmed by a German Central Bank study: Germans are generally conservative in terms of numbers. According to the German Central Bank (Bundesbank), 48% of private individuals pay for goods and services in cash, 40% by card. Although Internet payment methods have become established, they enjoy only a 4% share of total sales.