He e-commerce growth in Spain It has reached 17% and is close to the European average. In fact, 67% of Spaniards shop online, spending an average of 121 euros per month, according to Statista. In response to this transformation in consumer buying processes and habits, new payment methods have also proliferated.
In this context, a new system gains ground over the others: the account to account payments (A2A Account to Account) that eliminate intermediaries, improve company profit margins, offer greater security and an experience both on the web and inapp (the entire process is carried out in the same merchant application) compared to more traditional methods whose commissions are higher for companies, and its efficiency and safety are much lower.
From Kevin., direct account-to-account payment infrastructure, they point out that this payment method will continue to grow in popularity in the coming years as more consumers and businesses adopt more innovative and efficient payment solutions, something that has already happened as a result of the pandemic and now also due to the adoption of common payment standards such as SEPA Instant Credit Transfer (SCT Inst).
Jennyfer Díaz, responsible for Kevin. for Iberia, she explains that “Although account-to-account payments have not yet reached their full potential, they are a booming method and in 2026 they will account for a fifth of payments in Europe, surpassing card payments in some countries”.
Overview of payment methods in Europe
The most used payment methods in Europe vary according to the level of financial education of each market. In most EU countries, the most used methods continue to be transfers, bank cards, mobile payments and, to a lesser extent, cash according to the ECB. In the case of Spain, Bizum and PayPal are also added.
The Spanish, along with Italy, lead the mobile shopping category in Europewith 81% of users having purchased products in this way at least once in 2021, and up to 83% the previous year.
On the other hand, A2A payments have also experienced growth in recent years, standing out especially in countries such as the Netherlands, Denmark, the Baltic States, Sweden, Norway, Finland or Germany. Also in Spain they begin to have relevance because we have a society that is more open to innovation.
According to the ECB’s September 2020 report on retail payments in the European Union, A2A payments already represent a significant part of the payment volume in some European countries, such as the Netherlands, where they account for 55% of all retail payments. and, in the case of Lithuania, about 85% of all payments are A2A.
In this sense, there are several factors that explain why payments from account to account are most popular in baltics than in other countries such as Spain: they are pioneers in the adoption of online banking, they have a greater technological culture, they have a more developed payment infrastructure and a much more advanced regulation.
Faced with this situation, from Kevin. are working to ensure that businesses of all industries and sizes are able to realize the full potential of account-based payments while helping to accept online payments from more than 350 million consumers across Europe.
