Consumer Finance in Belgium
Euromonitor International's Consumer Finance in Belgium report establishes the size and structure of the market for ATMs, credit cards, debit cards, store cards and smart cards. It looks at key players in the market (issuers and operators), number of cards in circulation, numbers transactions and value of transactions. It offers strategic analysis of sector forecasts and trends to watch.
Buy online to access strategic market analysis and an interactive statistical database of value and volume for retail and internet transactions, number of cards in circulation and company brand shares.
Tables: 174 | Publication date: Feb 2009
Why buy this report
- Get insight into trends in market performance
- Pinpoint growth sectors and identify factors driving change
- Identify market and brand leaders and understand the competitive environment
Product coverage
Consumer lending; Financial cards and payments
Executive summary
Growth slows down as consumer confidence declines
Financial cards in Belgium grew steadily over the review period, although growth decelerated in 2008 in terms of financial cards in circulation and value and volume transactions, as a result of the country’s economic slowdown. Consumer purchasing power and confidence declined as a result of rising inflation, high energy prices and less robust employment opportunities. The international economic slowdown and financial crisis also contributed to slower growth in the use of payment cards.
Debit cards remains the main payment method
Bancontact/Mr Cash remains the most popular payment card in Belgium. It is a multifunction card which carries an electronic purse, Proton, and a Maestro function for payments abroad on the same platform. The use of debit cards continues to grow, albeit moderately, compared to the more dynamic growth recorded by credit cards.
Cash withdrawals decline
Belgian consumers are using cash less as a result of the growing use of credit, and debit cards. Although ATM security has increased, ATM transactions are declining by volume as consumers take out bigger amounts of cash less frequently. However, the use of ATMs for other transactions such as cash transfers, checking credit balance and recharging mobile phones continues to grow.
Greater acceptance of credit cards
Belgian consumers are becoming more open to using revolving credit cards which generated strong growth in terms of cards in circulation and transactions. However, charge cards remained more popular and continued to post strong growth. Personal cards are increasingly used for everyday purchases. Commercial credit and charge cards are driven by the growing range of card benefit programmes and other value-added services such as internet-based reporting by the banks which makes spending on cards easier for companies to track.
Proton loses popularity but other pre-paid solutions emerge
The usage of Proton, the electronic purse function provided on Bancontact/Mr Cash debit cards, is declining due to its low value limit and the insufficient number of recharging terminals. Meanwhile, new pre-paid solutions are emerging including a multi-purpose pre-paid card aimed at people who do not have credit cards, and the first pre-paid gift card designed for use by companies. Pre-paid cards are also expected to be launched by entertainment stores and Belgian public transport companies.
Store cards repositioned on the credit card platform
The latest generation of store cards offers credit, and charge card payment options in addition to loyalty card bonuses. Store cards are enjoying strong growth in terms of number of cards and transactions, in particular cards issued by the leading grocery chains and entertainment/leisure companies. The aggressive marketing of store cards has helped to improve consumer acceptance of credit cards in Belgium.
Future prospects are positive
Barring further risks such as prolonged world financial and economic turmoil, and taking into account that the transition to chip and PIN is now complete, financial cards and payments offer good growth opportunities. Belgian banks have yet to decide about the transition to SEPA given that in 2007 they decided not to migrate the national debit scheme Bancontact/Mr Cash onto the Maestro debit platform.
Table of contents
CONSUMER FINANCE IN BELGIUM : MARKET INSIGHT
EXECUTIVE SUMMARY
Growth slows down as consumer confidence declines
Debit cards remains the main payment method
Cash withdrawals decline
Greater acceptance of credit cards
Proton loses popularity but other pre-paid solutions emerge
Store cards repositioned on the credit card platform
Future prospects are positive
KEY TRENDS AND DEVELOPMENTS
Growth slows down as the Belgian economy falters
Card usage continues to increase
Banks introduce smarter ATMs
Boom in e-commerce boosts card usage
Security remains a key issue
Innovation focuses on dynamic payment instruments for young people
MARKET DATA
Table 1 Consumer Payments: Value 2003-2008
Table 2 Financial Cards: Number of Cards in Circulation 2003-2008
Table 3 Financial Cards Transactions: Value 2003-2008
Table 4 Financial Cards: Number of Transactions 2003-2008
Table 5 Financial Cards: Number of Accounts 2003-2008
Table 6 Financial Cards: Number of Cards by Issuer 2003-2007
Table 7 Financial Cards: Number of Cards by Operator 2003-2007
Table 8 Financial Cards: Card Payment Transaction Value by Operator 2003-2007
Table 9 Financial Cards: Card Payment Transactions by Acquirer 2003-2007
Table 10 Consumer Payments Forecast: Value 2008-2013
Table 11 Financial Cards Forecast: Number of Cards in Circulation 2008-2013
Table 12 Financial Cards Forecast: Value 2008-2013
Table 13 Financial Cards Forecast: Number of Transactions 2008-2013
Table 14 Financial Cards Forecast: Number of Accounts 2008-2013
MARKET INDICATORS
Table 15 Number of POS Terminals 2004-2008
Table 16 Number of ATMs 2004-2008
Table 17 Disposable Income 2003-2008
Table 18 Value Lost to Fraud 2003-2008
Table 19 Acquirer Fraud 2003-2008
Table 20 Card Expenditure by Location 2008
Table 21 Card Expenditure by Sector 2008
Table 22 Financial Cards in Circulation by Type: % Number of Cards 2004-2008
Table 23 Domestic versus Foreign Spend 2008
DEFINITIONS
Summary 1 Research Sources
CONSUMER LENDING IN BELGIUM
EXECUTIVE SUMMARY
Mortgage lending slows down
Mortgage lending market in Belgium is highly consolidated
Consumer loans offer some resistance to the economic slowdown
Growing impact of retail chains on consumer lending
Consumers remain cautious about credit
KEY TRENDS AND DEVELOPMENTS
Mortgages feel the pinch of recession
Consumer loans grow in popularity
The industry guards against non-performing loans
Better consumer protection through new legislation
MARKET DATA
Table 24 Consumer Lending By Sector: Outstanding Balance: Value 2003-2008
Table 25 Consumer Lending By Sector: Outstanding Balance: % Value Growth 2003-2008
Table 26 Consumer Lending By Sector: Gross Lending: Value 2003-2008
Table 27 Consumer Lending By Sector: Gross Lending: % Value Growth 2003-2008
Table 28 Consumer Lending: Non-performing vs Other Loans 2003-2008
Table 29 Mortgages/Housing: Non-performing vs Other Loans 2003-2008
Table 30 Consumer Credit: Non-performing vs Other Loans 2003-2008
Table 31 Forecast Consumer Lending By Sector: Outstanding Balance: Value 2008-2013
Table 32 Forecast Consumer Lending By Sector: Outstanding Balance: % Value Growth 2008-2013
Table 33 Forecast Consumer Lending By Sector: Gross Lending: Value 2008-2013
Table 34 Forecast Consumer Lending By Sector: Gross Lending: % Value Growth 2008-2013
DEFINITIONS
Summary 2 Research Sources
LOCAL COMPANY PROFILES - BELGIUM
CITIGROUP INC - CONSUMER FINANCE - BELGIUM
STRATEGIC DIRECTION
KEY FACTS
Summary 3 Citibank Belgium NV/SA: Key Facts
Summary 4 Citibank Belgium NV/SA: Operational Indicators
COMPANY BACKGROUND
COMPETITIVE POSITIONING
Summary 5 Citibank Belgium NV/SA: Competitive Position 2007
CITIGROUP INC - FINANCIAL CARDS AND PAYMENTS - BELGIUM
Summary 6 Citibank Belgium NV/SA: Key Facts
Summary 7 Citibank Belgium NV/SA: Operational Indicators
Summary 8 Citibank Belgium NV/SA: Competitive Position 2007
DEXIA, GROUPE - CONSUMER FINANCE - BELGIUM
STRATEGIC DIRECTION
KEY FACTS
Summary 9 Dexia SA: Key Facts
Summary 10 Dexia SA: Operational Indicators
COMPANY BACKGROUND
COMPETITIVE POSITIONING
Summary 11 Dexia SA: Competitive Position 2007
DEXIA, GROUPE - FINANCIAL CARDS AND PAYMENTS - BELGIUM
Summary 12 Dexia SA: Key Facts
Summary 13 Dexia SA: Operational Indicators
Summary 14 Dexia SA: Competitive Position 2007
FORTIS SA/NV - CONSUMER FINANCE - BELGIUM
STRATEGIC DIRECTION
KEY FACTS
Summary 15 Fortis SA/NV: Key Facts
Summary 16 Fortis SA/NV: Operational Indicators
COMPANY BACKGROUND
COMPETITIVE POSITIONING
Summary 17 Fortis SA/NV: Competitive Position 2007
FORTIS SA/NV - FINANCIAL CARDS AND PAYMENTS - BELGIUM
Summary 18 Fortis SA/NV: Key Facts
Summary 19 Fortis SA/NV: Operational Indicators
Summary 20 Fortis SA/NV: Competitive Position 2007
ING GROEP NV - CONSUMER FINANCE - BELGIUM
STRATEGIC DIRECTION
KEY FACTS
Summary 21 ING Groep NV: Key Facts
Summary 22 ING Groep NV: Operational Indicators
COMPANY BACKGROUND
COMPETITIVE POSITIONING
Summary 23 ING Belgium SA: Competitive Position 2007
ING GROEP NV - FINANCIAL CARDS AND PAYMENTS - BELGIUM
Summary 24 ING Groep NV: Key Facts
Summary 25 ING Groep NV: Operational Indicators
Summary 26 ING Belgium SA: Competitive Position 2007
KBC BANK & INSURANCE HOLDING CO - CONSUMER FINANCE - BELGIUM
STRATEGIC DIRECTION
KEY FACTS
Summary 27 KBC Bank NV: Key Facts
Summary 28 KBC Bank NV: Operational Indicators
COMPANY BACKGROUND
COMPETITIVE POSITIONING
Summary 29 KBC Bank NV: Competitive Position 2007
KBC BANK & INSURANCE HOLDING CO - FINANCIAL CARDS AND PAYMENTS - BELGIUM
Summary 30 KBC Bank NV: Key Facts
Summary 31 KBC Bank NV: Operational Indicators
Summary 32 KBC Bank NV: Competitive Position 2007
ATM TRANSACTIONS IN BELGIUM
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 35 ATM Cards Sector Performance: 2003-2008
Table 36 ATM Cards Sector Performance: Number of Cards in Circulation 2003-2008
Table 37 ATM Cards Sector Performance: % Growth 2003-2008
Table 38 ATM Cards in Circulation Sector Performance: % Growth 2003-2008
Table 39 ATM Cards Forecast Sector Performance: 2008-2013
Table 40 ATM Cards Forecast Sector Performance: Number of Cards in Circulation 2008-2013
Table 41 ATM Cards Forecast Sector Performance: % Growth 2008-2013
Table 42 ATM Cards in Circulation Forecast Sector Performance: % Growth 2008-2013
DEBIT TRANSACTIONS IN BELGIUM
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 43 Debit Cards Sector Performance: 2003-2008
Table 44 Debit Cards Sector Performance: Number of Cards in Circulation 2003-2008
Table 45 Debit Cards Sector Performance: % Growth 2003-2008
Table 46 Debit Cards in Circulation Sector Performance: % Growth 2003-2008
Table 47 Debit Cards: Number of Cards by Issuer 2003-2007
Table 48 Debit Cards: Number of Cards by Operator 2003-2007
Table 49 Debit Cards Transactions by Acquirer 2003-2007
Table 50 Debit Cards Payment Transaction Value by Operator 2003-2007
Table 51 Debit Cards Forecast Sector Performance: 2008-2013
Table 52 Debit Cards Forecast Sector Performance: Number of Cards in Circulation 2008-2013
Table 53 Debit Cards Forecast Sector Performance: % Growth 2008-2013
Table 54 Debit Cards in Circulation Forecast Sector Performance: % Growth 2008-2013
CREDIT CARD TRANSACTIONS IN BELGIUM
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 55 Credit Cards Sector Performance: 2003-2008
Table 56 Credit Cards Sector Performance: Number of Cards in Circulation 2003-2008
Table 57 Credit Cards Sector Performance: % Growth 2003-2008
Table 58 Credit Cards in Circulation Sector Performance: % Growth 2003-2008
Table 59 Personal Credit Cards Sector Performance: 2003-2008
Table 60 Personal Credit Cards Sector Performance: Number of Cards in Circulation 2003-2008
Table 61 Personal Credit Cards Sector Performance: % Growth 2003-2008
Table 62 Personal Credit Cards in Circulation Sector Performance: % Growth 2003-2008
Table 63 Commercial Credit Cards Sector Performance: 2003-2008
Table 64 Commercial Credit Cards Sector Performance: Number of Cards in Circulation 2003-2008
Table 65 Commercial Credit Cards Sector Performance: % Growth 2003-2008
Table 66 Commercial Credit Cards in Circulation Sector Performance: % Growth 2003-2008
Table 67 Credit Cards: Number of Cards by Issuer 2003-2007
Table 68 Credit Cards: Number of Cards by Operator 2003-2007
Table 69 Credit Cards Transactions by Acquirer 2003-2007
Table 70 Credit Cards Payment Transaction Value by Operator 2003-2007
Table 71 Personal Credit Cards Payment Transaction Value by Operator 2003-2007
Table 72 Commercial Credit Cards Payment Transaction Value by Operator 2003-2007
Table 73 Credit Cards Forecast Sector Performance: 2008-2013
Table 74 Credit Cards Forecast Sector Performance: Number of Cards in Circulation 2008-2013
Table 75 Credit Cards Forecast Sector Performance: % Growth 2008-2013
Table 76 Credit Cards in Circulation Forecast Sector Performance: % Growth 2008-2013
Table 77 Personal Credit Cards Forecast Sector Performance: 2008-2013
Table 78 Personal Credit Cards Forecast Sector Performance: Number of Cards in Circulation 2008-2013
Table 79 Personal Credit Cards Forecast Sector Performance: % Growth 2008-2013
Table 80 Personal Credit Cards in Circulation Forecast Sector Performance: % Growth 2008-2013
Table 81 Commercial Credit Cards Forecast Sector Performance: 2008-2013
Table 82 Commercial Credit Cards Forecast Sector Performance: Number of Cards in Circulation 2008-2013
Table 83 Commercial Credit Cards Forecast Sector Performance: % Growth 2008-2013
Table 84 Commercial Credit Cards in Circulation Forecast Sector Performance: % Growth 2008-2013
CHARGE CARD TRANSACTIONS IN BELGIUM
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 85 Charge Cards Sector Performance: 2003-2008
Table 86 Charge Cards Sector Performance: Number of Cards in Circulation 2003-2008
Table 87 Charge Cards Sector Performance: % Growth 2003-2008
Table 88 Charge Cards in Circulation Sector Performance: % Growth 2003-2008
Table 89 Personal Charge Cards Sector Performance: 2003-2008
Table 90 Personal Charge Cards Sector Performance: Number of Cards in Circulation 2003-2008
Table 91 Personal Charge Cards Sector Performance: % Growth 2003-2008
Table 92 Personal Charge Cards in Circulation Sector Performance: % Growth 2003-2008
Table 93 Commercial Charge Cards Sector Performance: 2003-2008
Table 94 Commercial Charge Cards Sector Performance: Number of Cards in Circulation 2003-2008
Table 95 Commercial Charge Cards Sector Performance: % Growth 2003-2008
Table 96 Commercial Charge Cards in Circulation Sector Performance: % Growth 2003-2008
Table 97 Charge Cards: Number of Cards by Issuer 2003-2007
Table 98 Charge Cards: Number of Cards by Operator 2003-2007
Table 99 Charge Cards Transactions by Acquirer 2003-2007
Table 100 Charge Cards Payment Transaction Value by Operator 2003-2007
Table 101 Personal Charge Cards Transaction Value by Operator 2003-2007
Table 102 Commercial Charge Cards Payment Transaction Value by Operator 2003-2007
Table 103 Charge Cards Forecast Sector Performance: 2008-2013
Table 104 Charge Cards Forecast Sector Performance: Number of Cards in Circulation 2008-2013
Table 105 Charge Cards Forecast Sector Performance: % Growth 2008-2013
Table 106 Charge Cards in Circulation Forecast Sector Performance: % Growth 2008-2013
Table 107 Personal Charge Cards Forecast Sector Performance: 2008-2013
Table 108 Personal Charge Cards Forecast Sector Performance: Number of Cards in Circulation 2008-2013
Table 109 Personal Charge Cards Forecast Sector Performance: % Growth 2008-2013
Table 110 Personal Charge Cards in Circulation Forecast Sector Performance: % Growth 2008-2013
Table 111 Commercial Charge Cards Forecast Sector Performance: 2008-2013
Table 112 Commercial Charge Cards Forecast Sector Performance: Number of Cards in Circulation 2008-2013
Table 113 Commercial Charge Cards Forecast Sector Performance: % Growth 2008-2013
Table 114 Commercial Charge Cards in Circulation Forecast Sector Performance: % Growth 2008-2013
GENERAL PURPOSE PRE-PAID CARD TRANSACTIONS IN BELGIUM
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 115 General Purpose Pre-paid Cards Sector Performance: 2003-2008
Table 116 General Purpose Pre-paid Cards Sector Performance: Number of Cards in Circulation 2003-2008
Table 117 General Purpose Pre-paid Cards Sector Performance: % Growth 2003-2008
Table 118 General Purpose Pre-paid Cards in Circulation Sector Performance: % Growth 2003-2008
Table 119 General Purpose Pre-paid Cards by Type: % Number of Cards 2004-2008
Table 120 General Purpose Pre-paid Cards: Number of Cards by Operator 2003-2007
Table 121 General Purpose Pre-paid Cards Transaction Value by Operator 2003-2007
Table 122 General Purpose Pre-paid Cards Forecast Sector Performance: 2008-2013
Table 123 General Purpose Pre-paid Cards Forecast Sector Performance: Number of Cards in Circulation 2008-2013
Table 124 General Purpose Pre-paid Cards Forecast Sector Performance: % Growth 2008-2013
Table 125 General Purpose Pre-paid Cards in Circulation Forecast Sector Performance: % Growth 2008-2013
STORE CARD TRANSACTIONS IN BELGIUM
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 126 Store Cards Sector Performance: 2003-2008
Table 127 Store Cards Sector Performance: Number of Cards in Circulation 2003-2008
Table 128 Store Cards Sector Performance: % Growth 2003-2008
Table 129 Store Cards in Circulation Sector Performance: % Growth 2003-2008
Table 130 Store Cards: Number of Cards by Issuer 2003-2007
Table 131 Store Cards Forecast Sector Performance: 2008-2013
Table 132 Store Cards Forecast Sector Performance: Number of Cards in Circulation 2008-2013
Table 133 Store Cards Forecast Sector Performance: % Growth 2008-2013
Table 134 Store Cards in Circulation Forecast Sector Performance: % Growth 2008-2013
CONSUMER CREDIT IN BELGIUM
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 135 Consumer Credit By Sector: Outstanding Balance: Value 2003-2008
Table 136 Consumer Credit By Sector: Outstanding Balance: % Value Growth 2003-2008
Table 137 Consumer Credit By Sector: Gross Lending: Value 2003-2008
Table 138 Consumer Credit By Sector: Gross Lending: % Value Growth 2003-2008
Table 139 Forecast Consumer Credit By Sector: Outstanding Balance: Value 2008-2013
Table 140 Forecast Consumer Credit By Sector: Outstanding Balance: % Value Growth 2008-2013
Table 141 Forecast Consumer Credit By Sector: Gross Lending: Value 2008-2013
Table 142 Forecast Consumer Credit By Sector: Gross Lending: % Value Growth 2008-2013