Financial Cards in Norway
Euromonitor International's Financial Cards in Norway 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.
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Tables: 104 | Publication date: May 2007
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- 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
Financial cards in circulation; Transactions
Executive summary
Increasing Household Wealth Fuels Use of Payment Cards
In 2006, the household assets increased in Norway as the wages in Norway continued to grow. Norway is an oil producing country and benefits from increasing oil prices. Between 2004 and 2006, the Norwegian economy experienced an enormous upswing leading to more consumer expenditure and increased household debts. According to bank of Norway, the economy will remain strong but growth is expected to moderate slightly over the forecast period.
Nordic Banks Driving Consolidation in NORWAY
In all the Nordic countries, the domestic banks with a good reputation and a long and stable history have dominated the banking market. However, in recent years the Nordic banks started to expand to each other’s markets leading to mergers and acquisitions across the borders. Strong Nordic players in Norway are among others Nordea Bank which is listed in Copenhagen, Helsinki and Stockholm, Handelsbnaken and Fokus Bank AS which is a subsidiary of the Danish owned Danske Bank. The Norewigan bank DnB NOR AS is increasingly gaining shares due to mergers and acquisitions at the same time facing competition from the other Nordic players.
Pre Paid Cards Dynamic Due to Low Base and Enormous Popularity
The pre-paid cards in Norway is a fairly undeveloped concept. The travel authorities planned to launch the pre paid smart travel cards for years, but to date the distribution has been very local. However, the main card manufacturer in Norway reported a substantial launch of pre paid gift cards in 2005, which boosted the market in 2006. Clothing chains and sport stores offer pre paid gift cards, and due to the many advantages of the product, other retailers are expected to follow suit.
Debit Cards by far the Largest and Dominated by Domestic Operator
Debit cards in Norway are by far the largest sector and increases for every year. The main operator within the debit sector is the domestic BankAxept card which more or less monopolizes the Norwegian debit cards. However according to official sources Norway is planning to adjust it’s banking system to the all European SEPA system, which is expected to affect the debit cards the most. The question is still whether Norway will change to the new card system within the forecast period.
Increased Card Use to be Expected
The penetration of card use in Norway is already high, but is expected to continue to increase as the saturation point for financial cards is not reached as yet. Credit cards which are slightly underdeveloped are expected to gain shares, and pre paid cards will boost due to planed national launches of travel cards. The debit card sector is expected to continue growing, however the future of this sector is dependent on the pace in which Norway will adopt to the SEPA system. The domestic bank card is expected to face competition from foreign players and the bank card acceptance by retailers is expected to increase.
Table of contents
FINANCIAL CARDS IN NORWAY : MARKET INSIGHT
EXECUTIVE SUMMARY
Increasing Household Wealth Fuels Use of Payment Cards
Nordic Banks Driving Consolidation in NORWAY
Pre Paid Cards Dynamic Due to Low Base and Enormous Popularity
Debit Cards by far the Largest and Dominated by Domestic Operator
Increased Card Use to be Expected
KEY TRENDS AND DEVELOPMENTS
Increased Income from Oil Production Boosts Card Use and Houeshold Loans
Niche Banks, Conglomerates and Alliances of Smaller Banks
Microprocessor Cards Stalls Fraud Rate
Efficient Banking Networks and High Broadband Penetration Fules Internet Use
Visa and MasterCard in the Lead Among International Operators
MARKET INDICATORS
Table 1 Number of POS Terminals 2004-2006
Table 2 Number of ATMs 2004-2006
Table 3 Disposable Income 2001-2006
Table 4 Consumer Credit 2001-2006
Table 5 Value Lost to Fraud 2001-2006
MARKET DATA
Table 6 Financial Cards: Transactions 2001-2006
Table 7 Financial Cards: Value 2001-2006
Table 8 Financial Cards: Number of Cards in Circulation 2001-2006
Table 9 Financial Cards: Number of Accounts 2001-2006
Table 10 Domestic versus Foreign Spend 2006
Table 11 Financial Cards: Cash Withdrawal versus Card Purchase 2006
Table 12 Card Expenditure by Sector 2006
Table 13 Card Expenditure by Location 2006
Table 14 Financial Cards: Number of Internet Transactions 2001-2006
Table 15 Financial Cards: Internet Transaction Value 2001-2006
Table 16 Financial Cards Forecast: Transactions 2006-2011
Table 17 Financial Cards Forecast: Value 2006-2011
Table 18 Financial Cards Forecast: Number of Cards in Circulation 2006-2011
Table 19 Financial Cards: Forecast Number of Accounts 2006-2011
Table 20 Financial Cards Forecast: Number of Internet Transactions 2006-2011
Table 21 Financial Cards Forecast: Internet Transaction Value 2006-2011
DEFINITIONS
LOCAL COMPANY PROFILES - NORWAY
DNB NOR ASA - FINANCIAL CARDS - NORWAY
STRATEGIC DIRECTION
KEY FACTS
Summary 1 DnB NOR ASA: Key Facts
Summary 2 DnB NOR: Operational Indicators
COMPANY BACKGROUND
COMPETITIVE POSITIONING
NORDEA BANK AB - FINANCIAL CARDS - NORWAY
STRATEGIC DIRECTION
KEY FACTS
Summary 3 Nordea Bank: Key Facts
Summary 4 Nordea Operational Indicators
COMPANY BACKGROUND
COMPETITIVE POSITIONING
NORSIK AS - FINANCIAL CARDS - NORWAY
STRATEGIC DIRECTION
KEY FACTS
Summary 5 All Cards Service Center –ACSC – AB: Key Facts
Summary 6 All Cards Service Center –ACSC – AB: Operational Indicators
COMPANY BACKGROUND
COMPETITIVE POSITIONING
SPAREBANK1 GRUPPEN AS - FINANCIAL CARDS - NORWAY
STRATEGIC DIRECTION
KEY FACTS
Summary 7 SpareBank1 Gruppen AS: Key Facts
Summary 8 SpareBank1 Gruppen AS: Operational Indicators
COMPANY BACKGROUND
COMPETITIVE POSITIONING
TERRA-GRUPPEN AS - FINANCIAL CARDS - NORWAY
STRATEGIC DIRECTION
KEY FACTS
Summary 9 Terra Gruppen AS: Key Facts
Summary 10 Terra Gruppen AS: Operational Indicators
COMPANY BACKGROUND
COMPETITIVE POSITIONING
SMART CARDS IN NORWAY
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 22 Smart Cards Sector Performance: 2001-2006
Table 23 Smart Cards Sector Performance: % Growth 2001-2006
Table 24 Smart Cards: Memory Vs Microprocessor 2004-2006
Table 25 Smart Cards: Contact Vs Contactless 2004-2006
Table 26 Smart Cards: Forecast Sector Performance: 2006-2011
Table 27 Smart Cards: Forecast Sector Performance: % Growth 2006-2011
ATM TRANSACTIONS IN NORWAY
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 28 ATM Cards Sector Performance: 2001-2006
Table 29 ATM Cards Sector Performance: % Growth 2001-2006
Table 30 ATM Cards: Forecast Sector Performance: 2006-2011
Table 31 ATM Cards: Forecast Sector Performance: % Growth 2006-2011
DEBIT TRANSACTIONS IN NORWAY
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 32 Debit Cards Sector Performance: 2001-2006
Table 33 Debit Cards Sector Performance: % Growth 2001-2006
Table 34 Debit Cards: Number of Cards by Issuer 2001-2005
Table 35 Debit Cards: Number of cards by Operator 2001-2005
Table 36 Debit Cards Transactions by Acquirer 2001-2005
Table 37 Debit Cards Transaction Value by Operator 2001-2005
Table 38 Debit Cards: Forecast Sector Performance: 2006-2011
Table 39 Debit Cards: Forecast Sector Performance: % Growth 2006-2011
CREDIT CARD TRANSACTIONS IN NORWAY
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 40 Credit Cards Sector Performance: 2001-2006
Table 41 Credit Cards Sector Performance: % Growth 2001-2006
Table 42 Personal Credit Cards Sector Performance: 2001-2006
Table 43 Personal Credit Cards Sector Performance: % Growth 2001-2006
Table 44 Corporate Credit Cards: Sector Performance: 2001-2006
Table 45 Corporate Credit Cards: Sector Performance: % Growth 2001-2006
Table 46 Credit Cards: Number of Cards by Issuer 2001-2005
Table 47 Credit Cards: Number of cards by Operator 2001-2005
Table 48 Credit Cards Transactions by Acquirer 2001-2005
Table 49 Credit Cards Transaction Value by Operator 2001-2005
Table 50 Personal Credit Cards Transactions by Acquirer 2001-2005
Table 51 Personal Credit Cards Transaction Value by Operator 2001-2005
Table 52 Corporate Credit Cards Transactions by Acquirer 2001-2005
Table 53 Corporate Credit Cards Transaction Value by Operator 2001-2005
Table 54 Credit Cards: Forecast Sector Performance: 2006-2011
Table 55 Credit Cards: Forecast Sector Performance: % Growth 2006-2011
Table 56 Personal Credit Cards: Forecast Sector Performance: 2006-2011
Table 57 Personal Credit Cards: Forecast Sector Performance: % Growth 2006-2011
Table 58 Corporate Credit Cards: Forecast Sector Performance: 2006-2011
Table 59 Corporate Credit Cards: Forecast Sector Performance: % Growth 2006-2011
CHARGE CARD TRANSACTIONS IN NORWAY
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 60 Charge Cards Sector Performance: 2001-2006
Table 61 Charge Cards Sector Performance: % Growth 2001-2006
Table 62 Personal Charge Cards Sector Performance: 2001-2006
Table 63 Personal Charge Cards Sector Performance: % Growth 2001-2006
Table 64 Corporate Charge Cards: Sector Performance: 2001-2006
Table 65 Corporate Charge Cards: Sector Performance: % Growth 2001-2006
Table 66 Charge Cards: Number of Cards by Issuer 2001-2005
Table 67 Charge Cards: Number of cards by Operator 2001-2005
Table 68 Charge Cards Transactions by Acquirer 2001-2005
Table 69 Charge Cards Transaction Value by Operator 2001-2005
Table 70 Personal Charge Cards Transactions by Acquirer 2001-2005
Table 71 Personal Charge Cards Transaction Value by Operator 2001-2005
Table 72 Corporate Charge Cards Transactions by Acquirer 2001-2005
Table 73 Corporate Charge Cards Transaction Value by Operator 2001-2005
Table 74 Charge Cards: Forecast Sector Performance: 2006-2011
Table 75 Charge Cards: Forecast Sector Performance: % Growth 2006-2011
Table 76 Personal Charge Cards: Forecast Sector Performance: 2006-2011
Table 77 Personal Charge Cards: Forecast Sector Performance: % Growth 2006-2011
Table 78 Corporate Charge Cards: Forecast Sector Performance: 2006-2011
Table 79 Corporate Charge Cards: Forecast Sector Performance: % Growth 2006-2011
PRE-PAID CARD TRANSACTIONS IN NORWAY
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 80 Pre-paid Cards Sector Performance: 2001-2006
Table 81 Pre-paid Cards Sector Performance: % Growth 2001-2006
Table 82 Pre-paid Cards: Number of Cards by Issuer 2001-2005
Table 83 Pre-paid Cards: Number of cards by Operator 2001-2005
Table 84 Pre-paid Cards Transactions by Acquirer 2001-2005
Table 85 Pre-paid Cards Transaction Value by Operator 2001-2005
Table 86 Pre-paid Cards by Type 2004-2006
Table 87 Pre-paid Cards: Forecast Sector Performance: 2006-2011
Table 88 Pre-paid Cards: Forecast Sector Performance: % Growth 2006-2011
STORE CARD TRANSACTIONS IN NORWAY
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 89 Store Cards Sector Performance: 2001-2006
Table 90 Store Cards Sector Performance: % Growth 2001-2006
Table 91 Store Cards: Number of Cards by Issuer 2001-2005
Table 92 Store Cards Transactions by Acquirer 2001-2005
Table 93 Store Cards: Forecast Sector Performance: 2006-2011
Table 94 Store Cards: Forecast Sector Performance: % Growth 2006-2011