Datasheet

Chapter 1  Internet Era: E-Commerce 13
In the European Union, the Single Euro Payment Area (SEPA) delivers a
single payment market that is used for all EU payments, both domestically and
cross-border. Although SEPA offers a single currency, the payment models are
fragmented when it comes to bank transfers and direct debits. Some countries
in Europe are not even members of SEPA but rely heavily on commercial and
financial interactions with SEPA members. The economic regions within the
EU countries have different payment habits and banking behaviors. Some of
these payment differences are highlighted in Figure 1-5.
Low Countries &
Scandinavia: strong card
funding in physical space.
Advanced use of Internet
banking for E-commerce.
DE: little card use,
primary use of
bank transfers and
direct debits
UK: strong card
funding, long
clearing times
FR: big check usage,
almost entirely card
based E-commerce
Mediterranean Countries:
strong usage of cards in
physical space, use of bank
transfers, and direct debit in
E-commerce
REU: Local payment types often
cheaper, direct debit expansion
limited by mandate restrictions
Figure 1-5: Different payment behaviors in the EU
The other end of the spectrum compared to the EU is the Asia-Pacific (APAC)
region, where 45 percent of the world’s population exists in only two countries
(China and India) and is becoming an emerging and immensely powerful finan-
cial powerhouse. The APAC countries are usually highly regulated financial
environments, with a great appetite for travel, gaming, and mobile payment
solutions. The countries in the APAC region tend to move away from traditional
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