Belgium Profile: Cards Dominate Half of Belgium Payments

08 Nov, 2020 . 4 minutes

Belgium’s population was estimated at 11.4 million at the end of 2019. Around 8.9 million citizens are online shoppers and this is expected to grow 5.1 percent year on year in 2020. The average highest online spending with 23.1 percent is by those aged between 45 years to 54 years. Belgians embrace ecommerce at a rate of 76 percent. Online shoppers spent 1,149 euros (US$1,266) on average in early 2020.

Belgium’s internet penetration is 89 percent and mobile penetration 69.7 percent as at the end of 2019. Both support 15 percent of mobile commerce transactions worth around 1.5 billion euros. B2C cross-border shopping represents 63 percent of all ecommerce. Most cross-border shoppers purchase online from the US, Netherlands and Germany.

Cards are used by half of Belgians to make payments - making credit cards the most preferred method of payment. Bank transfers follow with 22 percent. Digital wallets account for 17 percent of all online payments - especially via mobile apps - as at the end of 2019. Online travel and fashion see the most spending.

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