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Top 6 Payment Methods in Europe

If you’ve ever shopped online or conducted business transactions in Europe, you’re likely familiar with the diversity of European payment methods available. The European market boasts a rich tapestry of options, catering to a diverse audience with varying preferences. In this article, we’ll explore the top 6 payment methods in Europe among Payop users. We’ll shed light on each method’s advantages and explain how they can benefit both consumers and businesses.

Payop’s Pay by Bank

Pay by Bank is a convenient and secure open banking solution that allows consumers to make payments straight from their bank accounts, eliminating the need to share sensitive card details.

Payop’s Pay by Bank provides both instant and non-instant payments in the UK, Germany, France, Netherlands, Finland, Lithuania, Estonia, Italy, Spain, and Portugal. Plus, we also offer Revolut in the UK and all European countries. You can be incorporated anywhere, operate anywhere and accept payments in Europe without holding a bank account in the EU. Payop will receive money in its bank account and send instant confirmation via API.

Pay by Bank is gaining popularity across Europe because of its simplicity and advanced security. In addition, businesses benefit from reduced risk of chargebacks and fraud, resulting in cost savings. The widespread adoption of Pay by Bank also provides a broader customer reach, making it attractive to e-commerce businesses.


Trustly is a user-friendly platform for online payments in Europe. It allows consumers to complete transactions through their bank accounts without using additional apps or creating accounts, making it safe and easy. Trustly’s wide acceptance in Europe means consumers can use it across various online stores and services.

For merchants, Trustly offers a quick and reliable way to receive payments. Its optimised workflow and processing costs, reduced by up to 50% compared to cards, make it an appealing choice for small and large enterprises. Trustly’s commitment to security and compliance ensures that businesses and consumers can trust this payment method.

Sofort Banking

Sofort Banking is a real-time bank transfer method that simplifies online payments. Customers can use their online banking details to complete transactions instantly. Funds are transferred straight from customers’ bank accounts online to merchants’ accounts. The real-time transaction confirmation allows the latter to dispatch the goods immediately, which makes this method particularly attractive for e-commerce. With its speed and efficiency, Sofort Banking is also a fitting option for time-sensitive transactions, such as booking tickets or paying for services.

This European payment processor offers a great user experience, with no need to register or create additional accounts. It’s also important to note that the banking data customers use to make payments is not stored and is never visible to anyone else.


EPS is an online payment system widely used in Austria. Like the previous methods, it allows consumers to pay for goods and services directly from their bank accounts. They don’t need to undergo additional registrations or worry about their bank details since the data is not shared with third parties. That’s why this method is favoured for its simplicity and reliability.

For businesses targeting the Austrian market, integrating EPS can increase customer satisfaction and expand the customer base. Local payment methods like this demonstrate a commitment to providing a tailored experience to consumers in specific regions.


GiroPay is one of Germany’s most popular payment methods, making it an essential option for businesses operating in the German market. Like other bank-based payment methods, GiroPay enables customers to pay directly from their bank accounts, ensuring secure and efficient transactions.

The appeal of GiroPay lies in its strong trust factor among German consumers. By accepting GiroPay, businesses can utilise this trust and build strong customer relationships.


Last but not least on our list is Revolut, which offers personal and business solutions to its clients. As a payment method, it gives merchants several key advantages. Firstly, it supports over 25 currencies, including crypto, simplifying international transactions and reducing currency conversion costs. Businesses benefit from competitive exchange rates and real-time transaction notifications, which boost fraud detection.

Recognisability, ease of use and the trust of Revolut’s large customer base across Europe make this payment method a competitive advantage for merchants.

Factors to consider when choosing a payment method

Selecting the payment method for your business can be crucial for success in the European market. Here are some aspects to consider:

  • Customer preferences: Research your target audience and their preferred payment methods. Offering local options can increase the attractiveness of your business.
  • Security: Prioritize the security of both customer data and transactions. Make sure that your chosen payment method meets industry standards.
  • Costs: Consider each payment method’s processing and potential currency conversion fees.
  • User Experience: Opt for payment methods that provide convenience to users, reducing cart abandonment.

The European payment landscape offers a vast number of options. With these six main payment methods, you can meet the diverse preferences of European consumers, build trust and optimise payment processes. Remember, though, that your choice depends on your specific business goals and target markets.

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