Understanding Romania’s Payment Methods

Getting paid is the final step in any sale, but it’s also where businesses risk losing customers. A slow or inconvenient payment process can drive shoppers away, especially in a country where digital transactions are becoming the norm. With bank transfers, card payments and mobile wallets now standard – businesses must ensure transactions are fast, secure and seamless.

If you’re selling in Romania, knowing how people prefer to pay is just as important as the product itself. In this article, we’ll look at Romania’s top payment methods and how businesses can adjust their checkout process for better conversions.

The Most Popular Payment Methods in Romania

Romanians have clear expectations regarding payments: convenience, reliability and minimal friction. Businesses that align with these expectations can turn a simple transaction into a streamlined customer experience, building trust and increasing sales.

Here’s a breakdown of the most used payment methods in Romania and what makes them popular:

Debit and Credit Cards

Visa and Mastercard dominate the country’s payment card market, but consumer behaviour leans heavily toward debit cards. With over 18.6 million in circulation in 2023, debit cards are the go-to choice for most transactions, while credit cards, at just 2.94 million, remain less common.

The preference for payment cards is largely driven by convenience – they make everyday spending quicker and more efficient without the need to carry cash. Security is another key factor, as built-in fraud protection and instant blocking features provide peace of mind.

The widespread acceptance of cards, both in brick-and-mortar stores and online, ensures that consumers can use them effortlessly across various industries, supported by a payment gateway in Romania that facilitates secure transactions.

Cash

Cash payments remain a staple in the region, especially for everyday purchases, market shopping and paying for education fees and cultural events. Even as digital payment options expand, 40% of Romanians made their last offline payment in cash. The preference for cash is rooted in habit, with many people still trusting physical money for transactions.

It is also a practical choice when card payments are not an option, as not all merchants accept digital methods. Another advantage is its simplicity – there are no apps to download, accounts to manage, or processing delays.

However, change is underway, with cash payments at POS terminals decreasing by 11 percentage points between 2020 and 2024, reflecting a gradual shift toward digital transactions.

Contactless & Mobile Payments

More Romanians are swapping physical wallets for digital ones, with 29% already using contactless payments for speed, ease and security. A quick tap with a smartphone, smartwatch, or digital wallet gets the job done, while biometric authentication adds an extra layer of protection – making payments not just faster, but safer too.

Businesses are catching up, enabling contactless options to stay competitive. Investing in these solutions ensures a smooth checkout experience that meets consumer expectations. As convenience and security drive adoption, contactless payments are becoming a daily essential.

Direct Bank Transfers

Instant bank transfers are used by 10% of Romanians, while 9% still rely on traditional bank transfers. Though adoption remains low, digital payments are growing, with 46% of Romanians making their last payment online. As more consumers shift to online shopping, the need for fast, cost-effective transactions is increasing.

Instant transfers offer lower fees than card payments and are widely used for online purchases, bill payments, and peer-to-peer transfers. With platforms like RoPay, businesses can provide a secure, efficient payment option without high transaction costs.

SEPA Payments

With over €300 billion in account-to-account payments annually, Romania is a key financial player in Europe. As part of the SEPA network, its banks provide fast, secure euro transfers, making cross-border transactions more efficient for businesses and individuals. SEPA transfers in Romania lower costs and speed up settlements for trade, payroll and daily transactions.

While SEPA streamlines euro payments, transactions in the country’s currency, the leu (RON), still rely on local banking networks. To ensure smooth processing, Romania has adopted SEPA-friendly standards for RON payments, aligning them with European banking systems. Instant payments and domestic banking solutions provide businesses and individuals with fast, reliable ways to move money locally.

The Role of Open Banking in Romania

Paying online should be fast, secure, and hassle-free. But high transaction fees, slow card payments and security risks often get in the way. As online payment methods in Romania evolve, open banking is helping to overcome these obstacles. By allowing third-party providers (TPPs) to access financial data securely and with user consent, payments are now faster, safer, and more cost-effective.

Many Romanian e-commerce platforms offer bank transfer via invoice as a cost-effective alternative to card payments. However, as these transfers are not integrated, customers must log into their bank and enter invoice details manually, making the process slow and inconvenient for both customers and businesses.

How Open Banking Compares to Other Payment Methods

Businesses and consumers still rely on card payments, bank transfers and cash – but each has its drawbacks. High fees, slow processing and security concerns create friction in everyday transactions. Open banking removes these barriers, offering a faster, safer and more efficient way to pay.

How Noda Makes Payments Faster, Cheaper and Smarter

Businesses lose revenue when customers abandon checkout due to slow, complicated, or untrustworthy payment methods. The more friction in the payment process, the fewer completed purchases.

Noda helps businesses improve conversions by offering faster, more reliable payments. Customers can pay instantly from their bank accounts without needing a credit card, removing unnecessary steps that slow down transactions.

What makes Noda different?

• Payments process in real time. No waiting, no pending status.
• No credit card needed. Customers pay directly from their bank accounts, with fees up to 50% lower than card payments, typically between 0.1%-1%.
• Multiple ways to pay. Instant payment links, QR codes and no-code checkout pages make transactions effortless.

A smooth payment experience starts with banking coverage that works everywhere customers are. Noda connects with BRD Group, ING, Banca Transilvania and other major banks, offering a familiar and trusted payment method for Romanian customers. For businesses selling internationally, Noda’s network of over 2,000 banks across 28 countries ensures transactions go through without unnecessary delays.

Seamless Payments for Every Customer, Every Industry

At the end of the day, customers expect fast, secure and convenient payments. Romanian consumers have a variety of payment preferences, from card transactions and instant transfers to contactless payments and cash. Businesses that support these options create a frictionless checkout experience that keeps customers coming back.

By integrating open banking, businesses provide a single payment solution that combines speed, security and affordability. Customers get a seamless way to pay, while businesses cut costs and simplify transactions – all with an easy-to-implement system that works across industries.

A hassle-free payment means happier customers, fewer abandoned carts and increased revenue. Payments should be the easiest part of the sale, and with Noda, they are.