Consumer Finance

The buy now, pay later (BNPL) trend has taken hold in Spain, particularly among younger consumers, and is rapidly gaining share in Spain. Consumers choose BNPL for a variety of reasons, including the lower APR (in most cases 0%, as opposed to 18% for…

After the pandemic, there has been much pent-up demand for activities which were restricted, including going out and travelling abroad. Also, many Swedes managed to make significant savings during COVID-19 and have been able to spend more…

In the Netherlands, credit card usage is on the rise, despite starting from a relatively small base. The key catalyst for this growth in 2023 is the resurgence of outbound travel. While travel experienced rapid growth in 2022, 2023 marked a further…

In 2022, there was double-digit growth in terms of credit card spending for both personal and commercial credit cards. High inflation and the rising cost of living, which have also been affecting Britons in 2023, were amongst the main causes. In…

Credit card transactions continue to exhibit triple-digit current value growth in 2023, aligning with the extremely high inflation rate in Turkey. The rising number of credit cards and transactions is primarily driven by the influx of new consumers…

Debit card transactions remained the main driver behind the shift from cash to card payments in 2023. Every bank account holder in Austria owns at least one debit card, which is heavily favoured for payments at the POS, with debit card consumers…

Denmark is mostly a cashless country, and debit cards continue to be the most popular payment method, both in terms of number of transactions and total transaction value, The number of cards is only expected to increase slightly in 2023, as the…

The first news in debit cards is the ongoing growth of their number and transactions – despite the gloomy economic context. This is attributed to the following reasons.

In 2023, debit cards in Germany maintain their upward trajectory, building on the momentum gained in previous years. The waning impact of the pandemic has accelerated the transition from cash to digital payments, particularly debit cards. This shift…

Debit cards continue to dominate the Greek financial cards and payments landscape, showing further growth in 2023. They are growing in terms of the number of cards, volume and value of transactions, and increasingly accounting for smaller, everyday…

The enduring consumer preference for debit cards over credit cards continued throughout 2023, with the former accounting for the more than 10 times the value of the latter in terms of transactions. Such cards are easy to obtain in Italy, as well as…

Debit cards are the most popular types of card payment in Norway and face little threat from credit cards or other types of financial card payments in 2023. Around one-half of all payment cards in Norway are debit cards, generating more than 80% of…

Debit cards is on the rise in 2023, boosted by growing expenditure levels. Despite downward pressure on consumer purchasing power, Portuguese people have continued to increase their expenditure levels in 2023 as a result of rising inflation rates and…

Banks in Spain are changing their business strategy, resulting in a decline in the number of debit cards issued in 2023. Whilst customers previously had access to a free debit card if they had other banking products and services, including mortgages…

Debit cards remain the most popular type of financial card in Sweden in 2023 in terms of the number of cards in circulation, and current value and volume transactions. The popularity of debit cards is attributable to the high share of digital…

Contactless payments, whether using a debit card or a mobile device linked to a debit card, have become an increasingly popular method of payment at physical merchant locations in the United Kingdom. This surge in popularity can be attributed to the…

In 2023, debit cards remains the preferred and most widely used payment method, increasing from the previous year in terms of the number of cards in circulation, as well as the volume and retail value of transactions. However, this growth is set to…

The COVD-19 pandemic hampered the use of cash in Turkey, with consumers also opting to use a debit card over credit cards in 2023. The availability of contactless debit cards encouraged consumers to use their debit cards for small purchases, while…

Consumer mobility is evolving as urbanisation, sustainability and growing technological savviness are driving demand for travel supported by dynamic payment solutions. Euromonitor International introduces the Digital Payments in Mobility Index to…

Although cash transactions continued to play a strong role in Austria, a clear shift from cash to card payments continued in 2023. The outbreak of COVID-19 in Austria further accelerated the change, with consumers appreciating the contactless form of…

In terms of financial cards, Denmark is a saturated market and the number of cards in circulation is not expected to increase significantly across debit, credit, pre-paid or store cards.

Financial cards continues its progress in 2023, however, with mixed results. Global inflation continues to create an uncertain economic climate and an increasing price-sensitivity around sales of fast-moving consumer goods (FMCGs), leading to…

In 2023, financial cards and payments in Germany had to navigate a complex landscape. On the one hand, there was a slow yet steady increase in transactions, particularly in industries such as travel and dining that rebounded as pandemic restrictions…

The Greek financial card and payments market experienced robust growth in 2022, fuelled by post-pandemic recovery and the impact of inflation. This growth trend persists into 2023, albeit at a slower pace, attributed to the positive economic outlook…

Financial cards and payments performed well in Italy in 2023, both in terms of the number of cards in circulation and the value of transactions. Growth was underpinned by the growing trend towards cashless payments, even for smaller amounts, thanks…

Financial cards and payments in Norway is witnessing a moderate performance in 2023, with flat volume growth and steady growth in card transactions. There has been a steady recovery in transaction spend since 2021, following the heavy declines…

Portuguese consumers continue to shift towards electronic payment instruments (payment cards, electronic direct or ACH transactions), with cards being the most used electronic payment instrument in everyday life. The trend of replacing cash with card…

The Spanish economy has performed better than anticipated in 2023, despite the challenges posed by high energy costs and the aftermath of the COVID-19 pandemic, with consumption continuing to recover to 2019 levels, boosted by the recovery of travel…

The two pandemic years boosted the use of financial cards in Sweden. While the use of cash in the country was already exceptionally low by global standards at the start of the review period, its role diminished further during the pandemic due to…

In 2023, the Netherlands is experiencing its first full year without COVID-19 restrictions, leading to significant shifts in the payments landscape. For offline payments, this has resulted in a notable increase in card payments and proximity mobile…

In 2023, the UK’s economy has continued to be characterised by a high inflation rate and a rising cost of living. And, while in 2022 this situation was mainly exacerbated by the high cost of energy, in 2023 this cost has gradually started decreasing,…

A significant shift is underway in the realm of Dutch public transport, as the familiar OV chipkaart is being gradually phased out and replaced with a more versatile system known as OVpay. Since the start of 2023, travellers on public transport have…

Total transactions value growth slowed in Western Europe in 2023, with many consumers’ spending impacted by the still high inflation rates. Paper payments remained in decline, with electronic direct/ACH payments continuing to grow. Card payment…

Ecosystem partnerships is a critical factor for rapid scaling of leading digital wallets globally. Key usage factors are convenience, enhanced security and wide merchant acceptance. The short term focus includes cross-border transactions and…

This report examines inflation levels and drivers globally and in key countries. In 2023, global inflation is expected to ease from its peak in 2022, but remaining significantly above-trend. Geopolitical risks and uncertainty in the energy market are…

The report examines inflation level and drivers globally and in the key countries. Global inflation is forecast to accelerate due to higher energy and commodity prices, disruptions in supply chains and weaker business confidence. Impact varies…

This report examines inflation levels and drivers globally and in key countries. Global inflation is reaching a peak, although geopolitical risks and uncertainty in the energy market remain key risks. The impact varies between countries, with…

This report examines inflation levels and drivers globally and in key countries in Q4 2023 and 2024. Global inflation is moderating, although divergence remains among the key economies. Higher volatility in the energy markets and disruption of…

This briefing examines how the finance and insurance industry is performing globally, and in the largest countries in terms of finance and insurance output. The report also provides data for production, market size, imports, exports, industry costs,…

The coronavirus (COVID-19) pandemic has triggered the most severe global recession in nearly a century. Businesses are operating in a world of anxieties and uncertainties, not knowing what will be the new normal or when output and consumer spending…

The coronavirus (COVID-19) pandemic has triggered the most severe global recession since World War II. In Q4 2020, the end of the pandemic started as countries began administering effective vaccines among the population; however, vaccine distribution…

Closed loop pre-paid card transactions in Austria are essentially merchant-issued gift cards, and demand for these continued to increase in 2023. In a time of persistently high inflation with increased prices of essentials such as food and petrol,…

While there is a significant number of pre-paid cards in Denmark, the spend is not significant. That being said, there is expected to be a modest increase in value spend in 2023, largely driven by rising inflation. With debit cards having significant…

The growth seen in pre-paid cards in 2023 is being supported by the popularity of closed loop pre-paid cards allocated for gifts. The number of such cards has increased in recent years, with the era of the pandemic seeing consumers allocate a part of…

In 2023, pre-paid cards in Germany displayed a remarkable ability to adapt to post-pandemic changes. This was in contrast to 2022, when pre-paid cards witnessed a decline in transactions and value due to extraordinary circumstances, such as the…

In 2023, open-loop pre-paid cards have seen a mild increase in the number of cards, transaction volume, and transaction value. This uptick is part of the general momentum in card transactions driven by the proliferation of digital wallets,…

Pre-paid cards continued to be one of the most popular types of financial card in Italy, particularly in the case of young adults or those without a bank account. However, as with other financial cards, the rise of contactless payments expanded usage…

Although they are still a popular option in Norway, the volume of pre-paid cards has dropped significantly since the pandemic. Both open loop and closed loop pre-paid cards continue to decline in 2023, albeit at a slower rate than previous years.…

Boosted by the recovery of transportation cards, which had suffered severely during the COVID-19 pandemic, closed loop cards is seeing double-digit growth in 2023. Otlis, Lisbon’s transportation system cards, leads in terms of number of cards in…

Closed loop pre-paid cards remain dominant in Spain, accounting for around four-fifths of transactions by value. Indeed, closed loop pre-paid cards issued by the public transportation systems in Madrid and Bilbao (Consorcio Transporte Madrid and…