Jana Lvova

⬇ Today, we’ll dive into the #Payments ecosystem in #Austria, from our white paper  "Key Players in the EU Payments Landscape 2024": https://lnkd.in/dVYy5rTP 💳 Despite the strong cash culture, Austria is shifting towards a more digital-friendly payment environment. Contactless payments have seen substantial growth, now accounting for over 75% of all cashless transactions. The country has also a high bank account penetration rate of 98.2%, with 1.81 cards per capita, primarily dominated by debit cards. 🌐 Alternative payment methods: Digital wallets are fast becoming a preferred method for online transactions, making up about 25% of all online transactions. PayPal remains the top choice for Austrian consumers, while other players include Amazon Pay, Apple Pay, WebMoney, Seqr, Skrill, and Google Pay. Local solutions such as Raiffeisen Bank International AG ’s ELBA-pay, Erste Group’s George and Electronic Payment Standard (EPS) are also popular. 🏦 Banks: The Austrian banking system is well-organized, with banks grouped into industry associations based on their specific focus. The largest Austrian banks in terms of total assets in 2024 are Erste Group (245,7 billion €), Raiffeisen Bank International AG (152,2 billion €), UniCredit Bank Austria AG (101,66 billion €), BAWAG Group (45,66 billion €), and Raiffeisenlandesbank Oberösterreich AG (37,2 billion €). Other important banks include Oberbank, Steiermärkische Bank und Sparkasse, and HYPO NOE Landesbank für Niederösterreich und Wien AG. 📶 Payment processing & gateways: Key local players include DIMOCO Payments (founded in 2000, offering over 100 payment methods) hobex AG Payment Systems, and Paysafe. PAYONE, popular in Austria and Germany, facilitates various payment methods like Visa, Mastercard, and PayPal. Unzer serves over 70,000 merchants across Europe and recently expanded its POS solutions in Austria. Other notable regional providers include Concardis GmbH jetzt Nexi, Netcetera , Qenta Inc., Worldline and Global Payments Inc. ⚙️Infrastructure providers: PSA Payment Services Austria GmbH is a transaction service provider and has been the competence center for cashless payment in Austria for many years. The company focuses on transaction processing and helping banks ensure smooth payment operations for their customers. 🌟Austria is also home to our prestigious members Funanga AG and DIMOCO Payments. Key Takeway💡: “In Austria, the payments landscape is balanced between cash and digital methods, with a strong preference for cash among different age groups. However, there is a trend towards…” Want to read the full “Expert Opinion” from Deloitte professional Thomas John on the Austrian payment landscape? Download the report here: https://lnkd.in/dVYy5rTP

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💡Exciting insights from #Klarna on the leading European banks in Open Banking! Netherlands emerges on top for several reasons, with a focus on: ➡️ Exceptional user experience ➡️ Clear, intuitive payment processes ➡️ Minimal downtime and swift issue resolution. #OpenBanking #Banking #DataDriven #CustomerExperience

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⬇️ Today, let’s talk about the #Payments ecosystem in #Portugal from our latest white paper, "Key Players in the EU Payments Landscape 2024": https://lnkd.in/dVYy5rTP With over 10 million inhabitants, Portugal boasts one of the fastest-growing economies in Europe, making it an attractive market for businesses, including payment service providers. Card penetration is particularly high, thanks to a 30-year-old culture of chip-and-PIN usage. It is estimated that over 29 million debit and credit cards are in circulation. 💳 The primary card schemes proposed by Portuguese banks are Visa and Mastercard, with UnionPay International and American Express also playing a role. A partnership between SIBS, the parent company of Multibanco, and UnionPay has enabled the card scheme to be accepted at 80% of merchants and all ATMs. 🌐 Despite nearly 20% of the population being cardless, Portugal offers several well-established payment methods for both online and in-person transactions. The most common are Multibanco and MB WAY, both developed and managed by SIBS. Payshop is another widely used local payment method. Portugal is also home to cross-border payment solutions such as Maxpay , RealTransfer, and Unicâmbio. 🏦 Portugal’s banking system comprises 123 credit institutions, 31 EEA branches, and 1 non-EEA branch. The five largest banks in Portugal by total assets are CGD, Millennium bcp, Santander Portugal, NOVO BANCO, and Banco BPI. These institutions control three-quarters of the market and hold nearly €320 billion in total banking assets. Other notable players include ActivoBank, Banco Finantia, BNP Paribas, ING, and Bankinter. Additionally, the Spanish financial institution ABANCA Corporación Bancaria secured the purchase of Portuguese bank EuroBic Grupo ABANCA, making it the eighth-largest bank in the country. 📶 Several companies offer payment processing and gateway services in Portugal. UNICRE is a key player, operating through two brands: UniBanco, which specializes in card issuance and credit, and Reduniq (formerly Redunicre), which focuses on payments. Easypay and Eupago are also important gateways. Other local processors and gateways worth mentioning include Lusopay, Altice Portugal Pay, ifthenpay, Thinkpay - Tech Payments Platform., Paycritical, and ivendPay. Key Takeaway💡 : “The Portuguese payment ecosystem is a leading hub of innovation within the European Union, characterized by a diverse array of payment solutions and services. As regulatory landscapes evolve at the EU level, it will be crucial for industry players to adapt their internal processes and service offerings to maintain competitiveness.” Alexandre Melo | Associate Partner – Deloitte Portugal 

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