Financial Cards and Payments

As the COVID-19 pandemic drives seismic shifts across consumer markets, the key question facing business strategists is which of these changes are more reactionary in nature versus signalling the start of a long-term behavioural shift. This briefing…

Financial cards and payments were significantly impacted by Coronavirus (COVID-19) in 2020, with the pandemic still affecting the industry in 2021. However, after the decline in consumer payment transactions value in 2020, a return to positive growth…

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…

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 number of financial cards in circulation is set to continue to increase in 2023, supported by a steady rise in the banked population and the intensified competition between issuers. Meanwhile, value transactions across categories such as debit…

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,…

2023 is witnessing a continuation of some of the key trends from the previous year. Credit card spend remains significant in 2023, despite seeing a marginal decline compared to 2022, and this is largely due to the rising cost of living experienced by…

In 2023, Brazil's finance industry is undergoing rapid transformations driven by an expanding banked population, digitalisation, and advancements in open finance. Concurrently, consumers are increasingly turning to credit in the face of adverse…

Financial cards and payments in China is set to see a rebound in 2023, following the lifting of COVID-19 restrictions. Consumers have taken the reopening of society as an opportunity to increase their discretionary spending, particularly in the areas…

The financial cards and payments landscape in Singapore has experienced notable transformations as the nation progresses towards its goal of becoming a cashless society. This evolution has been primarily driven by the rise of digitalisation,…

The credit card business has become less lucrative for banks, primarily serving as a means to entice customers to deposit their salaries into banking institutions. The prevalent monthly inflation in Argentina has soared to alarming levels. Banks face…

In the wake of Covid-19 there was a notable shift away from cash transactions, while in 2023 (as in 2022) the retail value of personal cash transactions is rising rapidly. However, the surge has been fuelled by the inflation surges of 2022 and 2023.…

2023 has witnessed another marginal rebound in personal cash usage in Chile, despite a further decline in the overall value of this payment type. Cash usage tends to be higher among individuals over 60 years of age, those from lower socio-economic…

The use of debit cards continues to grow strongly in Colombia, supported by increased online purchases and cautious consumer behaviour. While credit card issuance remains stagnant, pre-paid cards, particularly closed loop transportation cards, are…

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 and payments in Egypt has seen a remarkable year in 2023, characterised by a notable shift from cash to card usage, larger transaction amounts, and a surge in new account openings. Government initiatives to boost financial inclusion…

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…

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…

Total card transactions in Hong Kong, along with electronic direct/ACH transactions and mobile payments, are recording double-digit growth rates in 2023 as consumption recovers from the pandemic. This is mainly being driven by overseas consumption…