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Long Tail of eCommerce - Payments

Only 30% of Europeans pay with credit / debit cards! You can quickly do some online research and you’ll find that between 29-31% of EU citizens use credit / debit cards and instead prefer ‘localized payment methods.

‘Localized payment methods drive international eCommerce! By enabling the online Guest to pay with their payment mechanism…online conversion is improved and site retention benefits. The Guest is less likely to commoditize your product due to their ability to pay how they want for what they want. Alternative or localized payments are common worldwide, and drive 10-30% improvement in incremental revenue from non-cannibalized sources. PAYMENT TYPES - GLOSSARY

Credit Card - A card that allows a retail or business consumer to make purchases using a card and account where there is a predetermined borrowing arrangement up to a fixed monthly level. A plastic card bearing a number, the name of the cardholder, an expiration date and a Verification Code/Value. Used for purchasing goods and services and for obtaining cash advances with regular billing. Credit Cards are not directly linked to a current bank account and usually have an account administrated by themselves. There will be regular (e. g. monthly) billing and most often the credited amount will be debited from the current account of cardholder at the end of the month.

VISA - One of the most common internationally recognized credit cards.

MasterCard - One of the most common internationally recognized credit cards.

American Express - Premium credit card, well known for its corporate perks and fringe benefits.

Diners Club - Premium credit card, well known for its corporate perks and fringe benefits.

Discover Card - Discover Card is a credit card issued primarily in the
United States, with approximately 50 million cardholders.

CartaSi - CartaSi is the most popular credit card in
Italy today, and is accepted worldwide. This is in part due to its connection with the Visa and MasterCard international circuits. CartaSi is an internationally-recognized brand, and such is the reputation it carries that on January 1, 2003, as part of its market repositioning strategies, Servizi Interbancari chose to adopt the CartaSi brand as its corporate name.

JCB - Japanese Credit Bureau credit card. Issued in countries Japan, China, Taiwan, USA,
South Korea. 56 million stakeholders (FY05).

Direct Debit - A type of Electronic Funds Transfer (EFT). A payment method whereby a current account is debited directly. In choosing direct debit, users authorize a financial institution or a company (the seller) to debit an account - this is more commonly referred to as an eCheck (US), Elektronisch Lastschrift (Germany) or Bank Direct Debit (other EU countries).

Debit Card - A card that allows a retail or business consumer to make purchases using a card that debits from a bank account / current account. A debit card is an ISO 7810 card which physically resembles a credit card, and, like a credit card, is used as an alternative to cash when making purchases. However, when purchases are made with a debit card, the funds are withdrawn directly from the purchaser’s current/checking or savings account at a bank or credit union.

Carte Bancaire - French Bank Cards

Carte Bleue - popular French debit card

SOLO - popular debit card in the UK

SWITCH - common UK based debit card

VISA DELTA - debit card that uses the Visa system

VISA Electron - Debit card issued by Visa

Dankort - Danish debit card and the national credit card of Denmark. Often combined with VISA so it can be used abroad.

Spanish Debit Cards (co-branded with Visa or MasterCard) - Euro 6000, Sistema 48 and ServiRed

OMT (Online Money Transfer – real time) - When a user selects this payment method he is redirected to his home banking account. The user reviews the pre-filled transfer form and confirms the transaction by entering his personal TAN number.

Giropay - Giropay is the most widespread Online Money Transfer process in Germany

IDEAL - Launched by the three major Dutch banks (ABN-AMRO, ING/Postbank and Rabobank) the Dutch real-time bank transfer payment option is as fast as credit card payment

EPS - Popular real time online money transfer in Austria

Bill2phone - this payment method allows the the user to billed products and services directly to their phone bill

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