In 2023, Benelux’s e-commerce sector showcases a medley of payment methods, mirroring evolving consumer preferences. Belgium leans towards card payments with Bancontact leading, while Luxembourg favors cards and e-wallets. The Netherlands have a preference for bank transfers via iDEAL. The emergence of Buy Now Pay Later (BNPL) and digital wallets across the region further enriches the payment landscape, offering a glimpse into the dynamic e-commerce payment ecosystem in Benelux.


Payment by card in Benelux

In 2023, various payment trends emerge in the Benelux region’s e-commerce sector. In Belgium, credit and debit cards play a significant role. Specifically, 32% of online payments occur via credit card, while 30% of shoppers prefer using debit cards​1​. Moreover, compared to other regions, Belgians use debit cards for e-commerce relatively more​2​. Significantly, Bancontact outpaces Visa or Mastercard for both POS and e-commerce transactions, holding an 80% market share in 2021​3​.

Transitioning to Luxembourg, card payments dominate, accounting for 27% of total payments. Following this, e-wallets cover 10% of orders, and cash only 6%​4​.

The scenario in the Netherlands remains less clear due to limited data. However, across all three countries, card payments are a preferred method for money transfers, hinting at a common trend in the e-commerce payment landscape​5​.

Local actor: Bancontact

Bancontact logo


Payment by bank transfer

In 2023, varied payment preferences appear in Belgium, the Netherlands, and Luxembourg’s e-commerce sectors. In Belgium, bank transfers constitute 17% of e-commerce payments, indicating moderate usage​1​. Another source corroborates this, listing a close figure of 19%​2​. Transitioning to the Netherlands, the scenario shifts. In 2020, bank transfers covered 60% of e-commerce payments, thanks to the local iDEAL system’s popularity​3​. Over 60% of Dutch respondents recently used iDEAL for online shopping, showcasing its acceptance. Additionally, 40% prefer it as their top online payment method, reflecting a strong bank transfer preference​4​.

On the other hand, Luxembourg has its own payment landscape. Domestic bank transfers rank as a top e-commerce payment method, suggesting significant usage​5​. The payment spectrum in Luxembourg is broad, with bank transfers alongside other instruments like cheques and cards​6​.

Overall, the data reveals a notable bank transfer payment presence across these countries, with distinct preferences in each. The pronounced iDEAL system preference in the Netherlands especially stands out, highlighting the country’s bank transfer payment inclination in e-commerce.

Local actors: iDeal, Payconiq

IDeal logoΒ Β Payconiq logo


Payment by installment and BNPL

In 2023, Buy Now Pay Later (BNPL) emerges as a significant payment method in the Benelux region’s e-commerce sector. In Belgium, it’s termed as “Deferred Payment Methods.” This method allows consumers to spread payments over time, aiding their financial management. It also benefits merchants by expanding their customer base. However, it faces regulatory scrutiny since it can qualify as consumer credit under European/Belgian law, potentially encouraging overspending​1​.

Transitioning to the Netherlands, BNPL sees remarkable growth. A projected increase of 23.3% in BNPL payments is expected, reaching $9.338 billion in 2023. Various BNPL apps are available, indicating a robust market. Klarna, a global player, almost reached one million downloads in 2022 in the Netherlands, showcasing its dominance​2​​3​​4​.

In Luxembourg, data is less specific. Nonetheless, BNPL’s traction within the financial sector is notable. It’s perceived as a credit model, potentially making vulnerable consumers more susceptible. Moreover, BNPL increases e-commerce conversion rates by 20 to 30%, indicating its growing importance​5​​6​.

Across Benelux, BNPL is evolving, contributing to the diversification of payment methods in e-commerce. Klarna, along with other global players like Clearpay, Scalapay, and Alma, significantly influence this market, overshadowing local brands​7​​8​​9​. The Gross Merchandise Value of BNPL in Europe is expected to grow at a CAGR of 11.4% from 2023 to 2028, reflecting a steady adoption of this payment method​10​.

Local actors:

for B2C,Riverty (previously Afterpay), Billink

Riverty logo

for BtOB, Biller (BtoB), Sprinque (BtoB)

Biller logo Β Sprinque logo


Payment by digital wallet and X-Pay

In 2023, e-wallet payment popularity surges in Belgium, the Netherlands, and Luxembourg’s e-commerce sectors. In Belgium, a government initiative launches, issuing digital wallets to citizens for official business​1​. This move demonstrates a governmental push towards digitalization. Transitioning to the Netherlands, diverse digital wallet options surface, securely storing credit card and bank details for easy payment processing​2​. A forecast suggests a continued mobile payment usage up to 2023, reflecting growing consumer interest​3​.

On the other hand, Luxembourg sees a rise in innovative services like e-money issuance and e-wallets, both domestically and internationally​4​. These services are part of a broader shift towards digital payment solutions in the region. Overall, the e-wallet trend in Benelux aligns with the global shift towards digital payment methods, offering a convenient, secure alternative in e-commerce.

Local actors: Tikki€, Bancontact, OK, iDeal

Tikkie logoΒ Β Bancontact logoΒ Β IDeal logo



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