This market of over EUR1 billion can generate growth for the businesses of providers of online payments on the market, as consumers migrate from cash payments on the delivery of the product, to online payments by card.
“The overall market that can help us grow is worth over EUR1 billion, as far as we are concerned, and the Romanian market is far from reaching its true potential. This amount of EUR1 billion includes everything from payment with electronic or non-electronic means such as cash on delivery, generated by online businesses – not necessary by online stores. The amount includes players such as eMag up to any kinds of bills, travel.”
Only a small portion of this EUR1 billion is accounted for by online card payments. Last year the volume electronic payments with bank cards saw a 24% increase against the previous year, reaching EUR158.9 million, according to data supplied by processor Romcard, with the PayU platform processing EUR138.8 million in online payments by card. But the figure does not reflect all payments made online with bank cards in Romania, as there are also other processors on the market.
(English version by Daniela Stoican)