In the period that preceded 2012 Orthodox Easter, the electronic commerce accepting online payments increased by 38% compared to the same period in 2011. According to PayU data, Romanians from 145 countries spent in Romanian online stores around Euro 15.9M between March 15th – April 14th.
The most looked for products in the analyzed period were toys, presents, confections and flowers, products that saw their sales increased by 83%, 80%, 59% and, respectively, 39%.
In the same time, according to Romcard statistics, the volume of e-commerce accepting online payments increased in Q1 by 42% compared to the same period in 2011, reaching to Euro 51.9M, from which Euro 43.2M were processed via PayU.
The market sees an accelerated growth rhythm, influenced by a multitude of factors. On one side, Visa and Mastercard are running more campaigns to promote online payments, attracting an increasingly high number of buyers. On the other hand, a powerful impulse comes from the new players entering the market, among which the most important one is Cosmote. Also, we are talking about a natural evolution of the market as the trust level from buyers increases
General Manager Romcard
The most important market development factor is the continuous development of payments methods and services offered to the clients. Online pay doesn’t mean just a banking card, but also cards for rates, while the banks and e-commerce solutions and services providers are giving an increased amount of attention to the opportunities coming from e-commerce.
For sure, 2012 will be a year of innovation in Romanian e-commerce. Romanians will pay online in the same safety conditions, but will have at their disposal more payments methods and additional services, and the buying experience will be improved. The sophistication level of the online buyer increased, he asks for guarantees, he knows his rights and becomes more exigent. Our strategy is to offer him what he asks: to pay what he wants, when he wants, as he wants, as simple and fast possible, with no operational complications for online stores
Country Manager PayU Romania
Q1 also showed an increased interest for online sales from big companies.
PayU Romania is provider of integrated eCommerce solutions and is part of PayU Group (owned by the multinational media group Naspers).