The Republic of Crimea’s largest bank replaced all cards with Russia’s Mir payment system.
The e-commerce market in Austria has grown moderately at 4% in 2016. The total revenue of the market was 3.4 billion euro last year. The revenue in Austria is very concentrated in certain areas and shops, with 46.3% being earned by the top 10 online retailers. These retailers include Amazon.at, Universal.at and Zalando.at. Amazon Austria pulled in 477.1 million euro alone last year. In order to compete with big names, many Austria companies use omni-channel strategies in their online shops. Up to 50% of Austrian online retailers have physical shops as well. Mobile offers and online marketplaces are also gaining popularity.
Austrians use diverse methods of payment. While 34% of the transaction volume is processed through cards, bank transfers follow closely at 31%. Customers use immediate transfers and EPS directly at checkout. Austria is special because in addition to bank transfers made in real-time during the checkout process, transfers can also be completed through the more traditional procedure at the bank counter. E-wallets are also commonly used in Austria, at 9.4% of the transaction volume. PayPal is the most popular e-wallet. Offline methods of payment are still popular at 8% of the transaction volume - this includes payment upon delivery, for example.
According to the Mobile Communications Report of 2016, mobile shopping is gaining popularity in Austria. Approximately 40% of the 1,015 Austrian mobile phone users questioned shop over their phone before. Even more Austrians, approx. 60%, use their smartphones to browse products and compare prices. Clothing and shoes are the most common products purchased over smartphones, followed by electronic devices and travel-related expenses. Most purchases over mobile devices are done by credit card, although online transfers and PayPal are also commonly used.
Card payments 35%
Bank transfer 31%
Pay on delivery 8%
Direct debit 6%
3,4 Bil. Euro
Population: 8,8 Mil.
Internet Usage: 89%
Source: Worldpay: Your Global Guide to Alternative Payments
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