Finance applications have actually seen an ongoing rise in fostering throughout Europe’s application shops in very early 2021 in the middle of the continuous COVID-19 pandemic. Sensor Tower’s State of Payment Apps 2021 in Europe record, readily available currently, is a deep study the progressing fads in electronic repayment and also cash transfer mobile applications, in addition to evaluations of its leading authors and also markets.

Top Payment Apps Surpassed 30 Million Installs in Q1 2021

The efficiency of the leading 50 repayment applications in Europe has actually stayed solid until now this year after climbing up 31 percent year-over-year to 102 million in 2020. In the very first quarter of 2021, installs of the leading repayment applications from Europe’s application shops rose 32 percent Y/Y to greater than 30 million from around 23 million in the exact same duration in 2014.

The top payment apps in Europe climbed 32 percent year-over-year to more than 30 million in 1Q21.

PayChum and also Google Pay Downloads Split the Map

Since 2018 and also proceeding right into the very first quarter of 2021, PayChum and also Google Pay have actually been one of the most downloaded repayment applications in Europe. However, their target market is not equally dispersed throughout the area. PayChum fostering is solid in Western and also Southern Europe with a target market focused in the U.K., Germany, France, and also Italy. Central and also Eastern European customers, nevertheless, support Google Pay, which was the leading repayment application in Russia.

PayPal and Google Pay's regional breakdown

This geographical break down of the leading 2 repayment applications’ target markets saw a change in 2020 that reveals PayChum pressing eastward. PayChum’s fostering in Eastern European markets expanded dramatically in 2014, climbing up 191 percent to 365,000 in Romania and also 156 percent Y/Y to almost 600,000 in Ukraine. The beginning of the COVID-19 pandemic additionally strengthened PayChum’s installs throughout the area while Google Pay saw a decrease—PayChum’s month-to-month installs throughout Europe’s application shops climbed up 27 percent to 1.9 million in April 2020 from 1.5 million in January, while Google Pay’s dropped 38 percent to 1 million from 1.6 million when contrasting the exact same 2 months.

Western Union Maintained Its Lead as Europe’s Top Money Transfer App

Although various other cash transfer applications such as Wise skilled fostering development, Western Union stayed the group leader. The application’s installs expanded 51 percent Y/Y to 4.3 million in 2020 throughout the area’s application shops, controling markets such as France, Germany, Italy and also Spain. However, the margin in between Western Union and also Wise is much slimmer in the U.K.

Western Union installs grew 51 percent year-over-year in 2020 to 4.3 million.

For extra evaluation from the Sensor Tower Store Intelligence system, consisting of vital understandings on the efficiency of repayment applications in the U.K., Germany, and also Russia, download and install the full record in PDF type listed below:

Download Sensor Tower's The State of Payment Apps 2021 in Europe Report