PSD2: The Ubiquity of Online Banking in the EU

Chart of the day
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Katie Young / January 08, 2018

At the end of this week, PSD2 (the second Payment Services Directive) will be officially integrated into European law, opening the banking market to new innovations and allowing consumers to use their banking services in different ways.

With online banking now a mainstream activity across Europe, the change has the potential to benefit a great number of consumers. Our research shows that over 7 in 10 internet users in Europe are banking online. Unlike their counterparts across Asia, LatAm and the Middle East, European internet users are more likely to be banking via their laptops than their mobiles – with the perceived security benefits of PCs/laptops making them attractive for this security-sensitive activity.

The universality of online banking is really apparent in the figures by age. It’s one of few online behaviors that is consistently popular across the age groups, with online 55-64s actually more likely to be engaging than 16-24s.