Famous for its high standard of living and GDP per capita, Austria offers strong foundations for its businesses to grow. Ecommerce is waltzing its way into the conversation more and more, with a steadily growing market for online sales. JP Morgan states that this market is worth €9.1bn. In stores, wallet-based payments, as with the rest of Europe, are becoming increasingly popular, with the launch of Apple Pay and Google Pay ™ in 2019 and 2020 respectively.
On the whole, payment methods in Austria are similar to neighboring Germany. Online bank banking and direct debit payments are popular while cards and open invoice are also widely used.