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Top 10 alternative payment methods in Europe
Greetings to the whole financial world! The OctoStrategy team wishes you an amazing mood this week. We hope it will be even better than it was when you get new and useful information from this article. Our team decided to raise a topical question about payment methods in Europe. Visa and Mastercard payments are popular worldwide and, of course, throughout Europe, but along with them, there are local alternative payment methods in different regions.

It is worth noting that one of the largest and most mature e-commerce markets continues to be Europe: According to a report by Ecommerce Europe and EuroCommerce, the European e-commerce market has grown by 13 percent and already reached 718 billion euros in 2021. Cross-border commerce in Europe accounted for 26.2 percent of total online sales in 2021, according to Ecommerce News. That figure continues to grow in 2022.

Despite the fact that the European Union has a single internal market, the payment behavior of consumers may differ from country to country.

Along with international giants (such as Visa, Mastercard, Apple Pay, PayPal, etc.), each region has its own local alternative payment methods that are extremely popular with the local population.

For new players on the market it's critically important to give customers the opportunity to pay in a way that is convenient for them, so one of the primary tasks when expanding your business is to localize the payment scenario.
What is a PCI DSS certificate?
We wish you an inspiring day with the OctoStrategy team. It's time to provide you with useful information on how to take your business to the next level with modern payment solutions.

Buyers of goods and services make electronic payments almost every day. The popularity of this method is due to its convenience, because it is a great alternative to paper money.

Really, there is no need to use cash: take a wallet, change large denominations, count change, etc. Paying by card has a lot of advantages, but there are also a lot of cybersecurity risks.

Clients want to keep their money safe and be sure that it is protected. To do this, many payment systems, including Visa and MasterCard, have even made it a mandatory requirement for merchants and service providers.

PCI DSS certification is required for companies to meet established security requirements when dealing with online payments.

Not everyone understands how important it is to have such a certificate. The simplest example is regular stores with POS-terminals (special machines for accepting payments from bank cards) installed in their cash desks.

Some supermarket chain owners are still sure that the bank installing payment terminals is responsible for payment security. But in fact it is the merchant network that is responsible for the security of transactions and customer card data.

If intruders manage to steal personal data from a payment card of a client, the whole responsibility lies on the store where the transaction took place.

To minimize the risk of such incidents, trustworthy payment systems cooperate only with those banks, call centers, sellers of goods and services, and payment gateways that have received a PCI DSS certificate.
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