Market share of payment methods in online retail in Germany 2023
In 2023, a survey on the revenue share of payment methods in German online retail revealed that PayPal was the most widely used, capturing 27.7 percent of the market. This demonstrates PayPal's significant role in facilitating online transactions in Germany, solidifying its position as a leading payment method in the e-commerce sector.
Paypal’s success
Paypal is the most used payment method in online purchasing in Germany and managed to achieve a brand awareness of around 98 percent in 2023. Among those who know the brand, approximately 84 percent stated that they use Paypal regularly, while 82 percent were happy with the service provided and liked the brand. Globally, Paypal acquired over 429 million active accounts and generated revenues of almost eight billion dollars during the second quarter of 2024.
Security of online payment
One of the main concerns customers face when shopping online is security or trust problems at the checkout, followed by a long or confusing payment process. While payment service providers such as Paypal offer solutions to long and difficult check-out processes, the security issue stays relevant. In 2023, Paypal was found to be one of the main payment services frequently used in scams in the U.S. However, it’s most likely that users in other countries are facing similar issues with Paypal as well. In contrast, other digital wallet services like Apple Pay were found to be much less fraudulent.
