Eternity Law International — News — Payment system in Europe

Payment system in Europe

Published:
July 24, 2020

Payment system in Europe – recently the European market has become more and more attractive for entrepreneurs.

It is clear that in order to feel comfortable here, it is necessary, first of all, to find out which payment system is popular in Europe.

WHICH PAYMENT SYSTEMS ARE TRADITIONAL FOR EUROPE

Europeans, regardless of their place of residence, prefer to use the popular VISA and Master Card.

We found out which payment system is popular in Europe, but still do not forget that other payment methods work in the EU. These include, in particular, ELV, Sofort and GiroPay and others.

It should be noted that, unlike Master Card, these services are distributed exclusively in a particular country or two or three.

While figuring out which payment system is popular in Europe, in addition to Master Card, do not forget about First Virtual, Open Market, CyberCash, CheckFree, NetCash, NetChex, NetCheque.

Being in the field of EU customers, do not forget about the peculiarities of payment for each of the countries separately, as well as about the preferences of buyers in the issue of payment for goods.

WHAT IS NECESSARY FOR EFFECTIVE PAYMENT ORGANIZATION FROM EUROPE

Again, finding out which payment system is popular in Europe is not enough to successfully promote your product on the EU market.

Do not forget about an important point: for the sale of goods online to be successful, it is necessary that the process of paying for the goods does not take much time.

This is a very important point, because no matter what payment system is popular in Europe, if there is a shortage of buyers, your business will quickly decline.

Moreover, this concerns not only the choice, payment for the goods, but also the payment system itself, through which the payment for it will take place, on which the speed of delivery of the goods to the buyer depends.

NATIONAL FEATURES

It is clear that while figuring out which payment system is popular in Europe, one should not forget about the peculiarities of the countries where the sale of the goods is supposed.

Interestingly, in Poland, they prefer to pay for purchases via the Internet (35%) or pay in cash.

Therefore, there is no clear answer to the question of which payment system is popular in Europe.

IMPORTANT TIPS

You probably already realized that when choosing an application for online payments, you should decide on the segment of the EU market where you will promote your product.

It is also important to find out what service the marketplaces use in your region and analyze sales statistics.

Then you need to contact the coordinators of payment services in the region and discuss the terms of their use on your trading platform. After that, sign the contract.

The accounting department of the company must compile quarterly, annual financial reports and provide declarations to the tax service. Contact us for more information.

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