Analysis of Digital Payment Trends Among European SMEs

This report presents an analysis of the increasing adoption of digital payments among European SMEs, based on research conducted by Qonto. The study examines the spending habits of 350,000 SMEs and freelancers, highlighting a significant rise in online and virtual payments. It notes a year-on-year growth of 40% in online payments for Q1 2023, with French SMEs leading at 41%. The report also details the growing use of virtual cards, which have seen a 50% increase in usage compared to physical cards. Traditional sectors such as Construction and Transportation & Storage are noted for their substantial growth in online payment adoption. The report identifies primary goods and online services as the main spending categories for SMEs, accounting for 44% of transactions. Additionally, it discusses the impact of food price inflation across different markets and the preference for train travel over air travel for business trips. The findings aim to provide insights into the evolving payment landscape for SMEs in Europe.