Alternative payments and e-commerce in Luxembourg

With the highest Internet penetration rate in Europe [1] and a per capita GDP more than twice the eurozone average [2], Luxembourg is a highly lucrative e-commerce market. More than 80% of the population already shops online [3]. As you’d expect in such a lucrative, well-connected market, online shoppers love luxury goods, in particular fashion items [4]. 

Very nearly 100% of the population has a bank account [5] and over 70% uses Internet banking [6]. Unsurprisingly, bank transfers and other types of alternative payment are popular in Luxembourg, with over 70% of banks supporting, for instance, SEPA bank transfers [6]. Popular alternative payment methods in Luxembourg include schemes such as the e-wallet PayConiq, the bank-transfer scheme Trustly and the usual mobile wallets, such as ApplePay and Google Pay. 

1. https://ecommercenews.eu/ecommerce-in-europe/ecommerce-in-luxembourg
2. https://data.worldbank.org/indicator/NY.ADJ.NNTY.PC.CD?locations=XC-1W-LU
3. https://ecommerce-europe.eu/research-figure/luxembourg
4. https://www.jpmorgan.com/merchant-services/insights/reports/luxembourg-2020
5. https://www.statista.com/statistics/380860/online-banking-penetration-in-luxembourg
6. https://www.europeanpaymentscouncil.eu/news-insights/insight/payment-landscape-luxembourg