Consumer Finance

The high inflation rate in Argentina has led to a significant increase in the use of debit cards. The government has refrained from printing higher denomination bills, and the highest available denomination is ARS2000, roughly equivalent to USD8 at…

Credit cards are also benefitting from the ongoing government and finance industry efforts to promote a cashless payment society. As such, we are seeing a robust performance in credit cards in 2023, thanks to a growing awareness among consumers about…

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…

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…

At the close of 2022, Taiwan witnessed a significant reshuffle in its credit card issuance landscape. The top five credit card issuers, ranked by the number of active cards, were Cathay United Bank with 5.77 million, CITIC Bank with 5.34 million, E…

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…

The growth in credit card transactions is slowing down as a result of persisting inflation and escalating consumer prices, prompting a return to higher levels of budget-consciousness and financial uncertainty. Economic instability has led to reduced…

The number of personal credit cards in circulation has been falling over the review period. Due to the high interest rates on credit cards, some consumers are paying off balances and closing credit card accounts. This trend can also be linked to the…

The landscape of credit cards in 2023 exhibits a dynamic where growth, while still apparent, has tapered in comparison to preceding years. This slowdown is a result of heightened prudence exercised by users, stemming from their concern over the…

While the number of credit cards in 2023 is well below the peak seen pre-pandemic in 2019, credit card transaction are witnessing record levels in 2023. Credit card transaction surged in 2022, fuelled by the return to offline retailers and a return…

Most banks perceive credit cards as high risk due to experiencing frequent default rates in the past. As such, credit cards continue to be relatively scarce in Nigeria, with mainly high net-worth individuals owning credit cards. Also, due to the…

Morocco is a country heavily reliant on cash, with consumers historically favouring debit cards to any other types of financial cards; standard credit cards continue to suffer from a negative perception among locals for several reasons. The demand…

The number of credit cards in circulation is set to witness remarkable double-digit growth in 2023, accompanied by even stronger surges in transaction volumes and values when compared with the previous year. These impressive performances not only…

Credit card is the leading cashless payment method in Japan, and is still responsible for the predominant share of cashless payment transaction volumes and value. Other digital payment instruments are also gaining popularity, but credit cards remain…

In early 2023, the Israeli government is set to mandate Discount Bank to divest its credit card business, Visa Cal, aiming to enhance competition within the credit card market. This move will introduce a new player to the credit market, fostering a…

In 2023, the credit cards category is again showing positive growth in all terms, cards circulation as well as volume and value transactions, as it did in the previous year. Credit card spending has recovered across categories. Holidays and the end…

The loan repayment moratorium for vulnerable borrowers, including credit card owners, to cope with the negative economic consequences of the COVID-19 pandemic was extended to the end of 2022, but was not renewed in 2023. Meanwhile, high interest…

Since the reopening of borders in the fourth quarter of 2022, there has been a surge in enthusiasm among Hong Kong locals to travel abroad after enduring three years of the pandemic. Residents are now showing a strong and sustained interest in…

In 2023, credit cards are experiencing growth in terms of the number of cards, volume, and value of transactions. After a prolonged period of recovery from the Greek financial crisis of the previous decade, credit cards have found a stable position…

Consumer credit is facing a number of challenges in France, to the extent the French Association of Financial Companies is reported to have called credit in 2023 a “serious cold snap”. As such, credit difficulties also affect the performance of…