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.
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: 107 | Publication date: May 2008
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
Financial cards in circulation; Transactions
Executive summary
Economic upturn in Norway fuels the use of payment cards
Norway is currently experiencing one of the highest economic upturns in the history of the country. Apart from the generally healthy economic climate and the development of domestic industries, Norway is benefiting from all-time high oil prices. This is fuelling the domestic economy, leading to higher purchasing power and spending habits of consumers. Unsurprisingly, one of the key areas fuelled by this trend is the financial cards industry. Partly, the number of transactions is growing due to higher disposable incomes and partly because of an increased interest in credit card offers which are enabling people to increase their spending through instalment repayments.
Debit cards remain the largest financial cards category
Debit cards was still the largest category among financial cards in 2007. The main substitutes for debit cards are charge and credit cards. However, due to the conservative mentality of the Norwegian population, unnecessary unsecured borrowing is shunned. This is the prime reason why debit cards are the favourite form of financial card in Norway.
Smart cards will boom in upcoming years
The steady increase in smart cards has been fuelled by a transition to EMV and SEPA. However, one category currently underdeveloped in Norway is contactless smart cards. The concept has already been implemented successfully in neighbouring Sweden by transportation companies. In Norway this is currently at the pilot stage as transportation companies are finalising the development of the technology and expect to launch in earnest in 2007. Overall growth in smart cards will be primarily driven by the introduction of contactless cards.
DnB NOR ASA the dominant issuer of credit, debit and charge cards
DnB NOR is a large Norwegian concern which continued to be the dominant issuer of credit, debit and charge cards in 2006, with shares of 30-37% of total cards issued. The bank has gained such a dominant position through a series of mergers and acquisitions of companies which specialise in financial cards, e.g. Cresco, through which DnB NOR issues a substantial share of all credit cards.
Credit cards in Norway – sweet spot for international players
In 2006, DnB NOR accounted for 36% of all credit cards issued in Norway. The other key players are the four large Nordic banks. Credit cards is seen as the most lucrative of all financial cards by large international players. EnterCard, a joint venture between a Swedish bank and Barclays Bank, is an example of international companies entering the Norwegian credit cards market. Other international players are also expected to enter in the near future. At the time of writing, the credit cards market in Norway was underdeveloped due to Norwegian aversion to credit borrowing.
Table of contents
FINANCIAL CARDS IN NORWAY : MARKET INSIGHT
EXECUTIVE SUMMARY
Economic upturn in Norway fuels the use of payment cards
Debit cards remain the largest financial cards category
Smart cards will boom in upcoming years
DnB NOR ASA the dominant issuer of credit, debit and charge cards
Credit cards in Norway – sweet spot for international players
KEY TRENDS AND DEVELOPMENTS
New technology trends
Use of payment cards is increasing
Reshaping the credit card landscape – the competition has just started
Internet banking is facilitating financial card growth
Explosive growth in contactless smart cards
OPERATING ENVIRONMENT
Consumer credit and lending
Issuer Fraud
Acquirer fraud
E-commerce
M-commerce
ATM and POS Terminals
Cash Withdrawal versus Card Purchase
Governmental Regulation and Legislation
MARKET INDICATORS
Table 1 Number of POS Terminals 2004-2007
Table 2 Number of ATMs 2004-2007
Table 3 Disposable Income 2002-2007
Table 4 Consumer Credit 2002-2007
Table 5 Value Lost to Fraud 2002-2007
MARKET DATA
Table 6 Financial Cards: Transactions 2002-2007
Table 7 Financial Cards: Value 2002-2007
Table 8 Financial Cards: Number of Cards in Circulation 2002-2007
Table 9 Financial Cards: Number of Accounts 2002-2007
Table 10 Domestic versus Foreign Spend 2007
Table 11 Card Expenditure by Sector 2007
Table 12 Card Expenditure by Location 2007
Table 13 Financial Cards: Number of Internet Transactions 2002-2007
Table 14 Financial Cards: Internet Transaction Value 2002-2007
Table 15 Financial Cards: Number of Cards by Issuer 2002-2006
Table 16 Financial Cards: Number of Cards by Operator 2002-2006
Table 17 Financial Cards: Point of Sale Transactions by Acquirer 2002-2006
Table 18 Financial Cards Forecast: Transactions 2007-2012
Table 19 Financial Cards Forecast: Value 2007-2012
Table 20 Financial Cards Forecast: Number of Cards in Circulation 2007-2012
Table 21 Financial Cards: Forecast Number of Accounts 2007-2012
Table 22 Financial Cards Forecast: Number of Internet Transactions 2007-2012
Table 23 Financial Cards Forecast: Internet Transaction Value 2007-2012
DEFINITIONS
Cards by Type
Cardholder Behaviour
Card Expenditure by Sector
Value Lost to Card Fraud
Consumer Credit
Market Background
Summary 1 Research Sources
LOCAL COMPANY PROFILES - NORWAY
DNB NOR ASA - FINANCIAL CARDS - NORWAY
STRATEGIC DIRECTION
KEY FACTS
Summary 2 DnB NOR ASA: Key Facts
Summary 3 DnB NOR ASA: Operational Indicators
COMPANY BACKGROUND
COMPETITIVE POSITIONING
ENTERCARD NORGE AS - FINANCIAL CARDS - NORWAY
STRATEGIC DIRECTION
KEY FACTS
Summary 4 SwedBank AB/EnterCard Norge AS: Key Facts
Summary 5 SwedBank AB/EnterCard Norge AS: Operational Indicators
COMPANY BACKGROUND
COMPETITIVE POSITIONING
NORDEA BANK AB - FINANCIAL CARDS - NORWAY
STRATEGIC DIRECTION
KEY FACTS
Summary 6 Nordea AB: Key Facts
Summary 7 Nordea AB: Operational Indicators
COMPANY BACKGROUND
COMPETITIVE POSITIONING
TERRA-GRUPPEN AS - FINANCIAL CARDS - NORWAY
STRATEGIC DIRECTION
KEY FACTS
Summary 8 Terra-Gruppen AS: Key Facts
Summary 9 Terra-Gruppen AS: Operational Indicators
COMPANY BACKGROUND
COMPETITIVE POSITIONING
XPON CARDS AB - FINANCIAL CARDS - NORWAY
STRATEGIC DIRECTION
KEY FACTS
Summary 10 XponCard AB: Key Facts
Summary 11 XponCard AB: Operational Indicators
COMPANY BACKGROUND
COMPETITIVE POSITIONING
SMART CARDS IN NORWAY
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 24 Smart Cards Sector Performance: 2002-2007
Table 25 Smart Cards Sector Performance: % Growth 2002-2007
Table 26 Smart Cards: Memory Vs Microprocessor 2004-2007
Table 27 Smart Cards: Contact Vs Contactless 2004-2007
Table 28 Smart Cards: Forecast Sector Performance: 2007-2012
Table 29 Smart Cards: Forecast Sector Performance: % Growth 2007-2012
ATM TRANSACTIONS IN NORWAY
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 30 ATM Cards Sector Performance: 2002-2007
Table 31 ATM Cards Sector Performance: % Growth 2002-2007
Table 32 ATM Cards: Forecast Sector Performance: 2007-2012
Table 33 ATM Cards: Forecast Sector Performance: % Growth 2007-2012
DEBIT TRANSACTIONS IN NORWAY
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 34 Debit Cards Sector Performance: 2002-2007
Table 35 Debit Cards Sector Performance: % Growth 2002-2007
Table 36 Debit Cards: Number of Cards by Issuer 2002-2006
Table 37 Debit Cards: Number of cards by Operator 2002-2006
Table 38 Debit Cards Transactions by Acquirer 2002-2006
Table 39 Debit Cards Transaction Value by Operator 2002-2006
Table 40 Debit Cards: Forecast Sector Performance: 2007-2012
Table 41 Debit Cards: Forecast Sector Performance: % Growth 2007-2012
CREDIT CARD TRANSACTIONS IN NORWAY
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 42 Credit Cards Sector Performance: 2002-2007
Table 43 Credit Cards Sector Performance: % Growth 2002-2007
Table 44 Personal Credit Cards Sector Performance: 2002-2007
Table 45 Personal Credit Cards Sector Performance: % Growth 2002-2007
Table 46 Corporate Credit Cards: Sector Performance: 2002-2007
Table 47 Corporate Credit Cards: Sector Performance: % Growth 2002-2007
Table 48 Credit Cards: Number of Cards by Issuer 2002-2006
Table 49 Credit Cards: Number of cards by Operator 2002-2006
Table 50 Credit Cards Transactions by Acquirer 2002-2006
Table 51 Credit Cards Transaction Value by Operator 2002-2006
Table 52 Personal Credit Cards Transactions by Acquirer 2002-2006
Table 53 Personal Credit Cards Transaction Value by Operator 2002-2006
Table 54 Corporate Credit Cards Transactions by Acquirer 2002-2006
Table 55 Corporate Credit Cards Transaction Value by Operator 2002-2006
Table 56 Credit Cards: Forecast Sector Performance: 2007-2012
Table 57 Credit Cards: Forecast Sector Performance: % Growth 2007-2012
Table 58 Personal Credit Cards: Forecast Sector Performance: 2007-2012
Table 59 Personal Credit Cards: Forecast Sector Performance: % Growth 2007-2012
Table 60 Corporate Credit Cards: Forecast Sector Performance: 2007-2012
Table 61 Corporate Credit Cards: Forecast Sector Performance: % Growth 2007-2012
CHARGE CARD TRANSACTIONS IN NORWAY
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 62 Charge Cards Sector Performance: 2002-2007
Table 63 Charge Cards Sector Performance: % Growth 2002-2007
Table 64 Personal Charge Cards Sector Performance: 2002-2007
Table 65 Personal Charge Cards Sector Performance: % Growth 2002-2007
Table 66 Corporate Charge Cards: Sector Performance: 2002-2007
Table 67 Corporate Charge Cards: Sector Performance: % Growth 2002-2007
Table 68 Charge Cards: Number of Cards by Issuer 2002-2006
Table 69 Charge Cards: Number of cards by Operator 2002-2006
Table 70 Charge Cards Transactions by Acquirer 2002-2006
Table 71 Charge Cards Transaction Value by Operator 2002-2006
Table 72 Personal Charge Cards Transactions by Acquirer 2002-2006
Table 73 Personal Charge Cards Transaction Value by Operator 2002-2006
Table 74 Corporate Charge Cards Transactions by Acquirer 2002-2006
Table 75 Corporate Charge Cards Transaction Value by Operator 2002-2006
Table 76 Charge Cards: Forecast Sector Performance: 2007-2012
Table 77 Charge Cards: Forecast Sector Performance: % Growth 2007-2012
Table 78 Personal Charge Cards: Forecast Sector Performance: 2007-2012
Table 79 Personal Charge Cards: Forecast Sector Performance: % Growth 2007-2012
Table 80 Corporate Charge Cards: Forecast Sector Performance: 2007-2012
Table 81 Corporate Charge Cards: Forecast Sector Performance: % Growth 2007-2012
PRE-PAID CARD TRANSACTIONS IN NORWAY
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 82 Pre-paid Cards Sector Performance: 2002-2007
Table 83 Pre-paid Cards Sector Performance: % Growth 2002-2007
Table 84 Pre-paid Cards: Number of Cards by Issuer 2002-2006
Table 85 Pre-paid Cards: Number of cards by Operator 2002-2006
Table 86 Pre-paid Cards Transactions by Acquirer 2002-2006
Table 87 Pre-paid Cards Transaction Value by Operator 2002-2006
Table 88 Pre-paid Cards by Type 2004-2007
Table 89 Pre-paid Cards: Forecast Sector Performance: 2007-2012
Table 90 Pre-paid Cards: Forecast Sector Performance: % Growth 2007-2012
STORE CARD TRANSACTIONS IN NORWAY
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 91 Store Cards Sector Performance: 2002-2007
Table 92 Store Cards Sector Performance: % Growth 2002-2007
Table 93 Store Cards: Number of Cards by Issuer 2002-2006
Table 94 Store Cards Transactions by Acquirer 2002-2006
Table 95 Store Cards: Forecast Sector Performance: 2007-2012
Table 96 Store Cards: Forecast Sector Performance: % Growth 2007-2012