PayBox is an Austrian mobile money service, which links a mobile phone number to a bank account. Users can buy goods online and in physical stores where they see the paybox logo. They can also pay for bills, transfer money and perform a range of other transactions.
Austrians use e-wallets in a fifth of all online transactions. Credit card penetration in the country is just 47%. This makes support for locally preferred Austrian alternative payment methods vital to any e-commerce strategy.
The benefits of supporting e-wallets in Austria
- Austrians use e-wallets to pay for approximately US$3bn in e-commerce each year.
- Between 2021 and 2024, the Austrian e-commerce market will grow to be worth US$17bn.
- Austrians pay for just 32% of online purchase using credit cards.
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