Consumers In Europe Lead In Bank-Based Payment Adoption

There are stark regional differences in consumer adoption of bank-based payments. Forrester’s Consumer Benchmark Survey, 2023, shows 52% of online adults in Germany have used a bank transfer or direct debit to pay for a purchase in the past three months, as have 47% of UK online adults. By contrast, only 32% of online adults in the US, 28% in metropolitan China, and 27% in metropolitan India have used bank-based payments to make a purchase. Forrester expects bank-based payment adoption to grow, especially where open banking is maturing and real-time (or “instant” or “faster”) payment use cases are increasing. This is a snapshot of bank-based payment data.