Artemis' Millet: Opportunities from Europe's digital modernisation

Electronic payment evolving

Again and again, investors complain about the lack of growth in Europe. While it is true that broad economic activity has stagnated in the last decade, some sectors have benefited from secular growth, writes Laurent Millet, co-manager of the Artemis European Opportunities fund.

For example, take the payment processing sector. Electronic and card payments in Europe are growing by high single digits, while payments in cash are flat and payments by cheque are in terminal decline. The reasons for this structural trend? Consumers benefit from a fast, safe and convenient way to complete their purchases. Merchants are keen to serve their customers off- and on-line and better understand their needs. Last, but not least, governments want to improve tax collection and reduce the size of the shadow economy. Artemis' Page: How European investors can protect themsel...