Digital Marketing Researches & Reports

How Millennials of Europe Will Shape Tomorrow’s Payments Landscape, 2016 | VocaLink & Ipsos

Consumer Behavior | Europe

All Millennials around the whole world are familiar with digital technology. In fact, They are the first digital natives and not surprisingly that they have quickly adopted the smartphone.

In a way to understand the choices, behaviors and concerns of Europe Millennials -mainly in the UK, Germany, Italy & The Netherlands-, read the below insights:

Mobile Brands Used by Millennials:

  • Samsung is the market leader in Germany, Italy and The Netherlands, with rates of 44%, 41% & 39% share respectively.
  • Apple’s iPhones ranked next with rates 28%, 33% & 35% respectively.
  • 46% of UK Millennials use an iPhone and just 30% use Samsung Models.

Devices Used by Millennials:

  • Only 9% of Italian millennial use of the wearable devices.
  • 68% of German Millennials use a laptop or PC and 41% use a tablet.
  • 71% of Italian, 68% of Dutch and 61% of British Millennials reported that they couldn’t live without their smartphone.

Millennials and Social Media:

  • Instagram ranks the next of most used channel in all 3 countries (Italy 29%, The Netherlands 19% & Germany 12%).
  • Snapchat comes in the third level in The Netherlands with 14% of Millennials using it at least daily.
  • Twitter is the third most popular social media channel in Italy (17%) & Germany (8%).
  • 58% of German Millennials use social media at least daily, rising to 68% in The Netherlands and 79% in Italy.
  • 60% of Italian Millennials agreed that social media is an essential method of communication, two-thirds of them (63%) are concerned about their information available on social media.
  • 50% of German Millennials consider social networking as essential. 48% are concerned about their information available on social media.

Millennials and Their Money:

  • 69% of Italian, 67% of Dutch and 56% of German Millennials find mobile banking easy to use.
  • 27% of  Netherlands Millennials use laptop or PC to deposit cheques, while 27% use their mobile phones; among German Millennials, the usage rates were 21% and 11% respectively, and in Italy, the usage rates were 11% and 6%.
  • 32% of Italian, 29% of Germans, 27% of Brits and 17% of Dutch Millennials are using PayPal to make international Peer-to-Peer (P2P) payments.
  • 53% of Dutch Millennials were using public transport pay on card vs. that 18% who use cash.
  • 68% of the UK Millennials pay their utility bills to direct debit, with 17% are using bank transfer.
The Millennial Influence How Millennials of Europe Will Shape Tomorrow’s Payments Landscape, 2016 VocaLink & Ipsos MORI

A Graph Shows the Most Used Social Media platform in Germany, the Netherland and Italy in 2016

Methodology:

Data were driven from 4,033 Millennials aged 18-25 & 26-35 years, 50% were males & 50% were females (1,008 in Germany, 1,009 in the Netherlands, 1,014 in Italy and 1,002 in the UK).

Vocalink

Established in 2007, Vocalink is a Mastercard company and payments technology partner to banks, corporates, and governments. VocaLink is a global payments partner relied on by financial institutions, corporates, and governments to provide high availability and resilient payment solutions. The company designs, builds and operates industry-leading bank account-based payment systems.
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