Consumer Finance

A government-led financial inclusion initiative enticed a burgeoning population to embrace the formal banking sector, resulting in further uptake of financial cards, in particular, debit cards, in 2023. The Pradhan Mantri Jan Dhan Yojana (PMJDY)…

A government-led financial inclusion initiative is enticing a burgeoning population to embrace the formal banking sector, which is acting in favour of further driving debit card penetration. The government’s financial inclusion initiative, also known…

Credit cards in India witnessed healthy demand in 2023 as consumers looked to bridge their income gap through smart spending. The adoption of credit cards further increased during the year, primarily as responsibilities in the form of expenditure…

Charge cards in India remained a niche category within financial cards and payments in 2023, largely due to higher eligibility criteria for issuance. Given the higher credit score and minimum salary requirement for a charge card in comparison to…

The global B2B payment market is gaining increasing attention from financial card and electronic direct payment platforms, as more consumer payment value has been converted away from paper. The USD32.7 trillion spent by merchants through paper…

This report provides an in-depth analysis of the potential market strategies for companies in Sub-Saharan Africa amidst the current cost of living crisis. It details how companies can leverage affordability, technology, and values to cater to the…

The Southeast Asian market has evolved to version 2.0, positioning ASEAN as a pivotal component in local and global investors' strategies. With a rising cost of capital amid tightening monetary policies, long-term structural shifts in demographics…

Embedded finance is a critical factor in improving the customer journey and driving transformation. Leading embedded finance partners enable non-financial clients to offer diversified financial products and services, with simplified integration,…

Technological advances in 2024 will continue to reshape consumer behaviour. This annual report explores the top five digital shopper trends that will redefine commerce the most in the year ahead. Some of the trends included in this report’s edition…

In a time of uncertainty, brands must ensure that the value proposition provided by their loyalty schemes is firmly aligned with customer needs, priorities and expectations, continuously refined and adapted to withstand disruption and changing market…

Loans became more expensive for consumers in 2023, as a result of the European Central Bank's interest rate policy, with rates rising in response to high inflation in the EU since the energy crisis broke out in 2022 and the war in Ukraine began. The…

Consumer credit has experienced a significant drop in all areas of gross lending in 2023. In light of the sharp increases in the cost of living since 2022, Austrians have generally been frugal with expenditure. Individuals are focused on meeting…

Following a decade of low borrowing costs, businesses and consumers now face increasing financial pressure due to a surge in interest rates in 2023. High interest rates have far-reaching consequences on economies, businesses and households, impacting…

As in so many cases, perhaps the biggest story for store cards in the US in 2023 has been the twin forces of high inflation and high interest rates. While inflation has crept down over the course of 2023 in the US, the price increases that have…

Store cards remained a niche in Austria in 2023, continuing a downward trend with a double-digit decline in transaction values despite the continuing shift to card payments. Most consumers in Austria are unfamiliar with store cards, and the usage of…

2023 is likely to go down as the first generally “normal” year of the 2020s. While 2022 saw most companies return to at least some form of hybrid working, the emergence of the Omicron variant early in the year had a significant effect on the overall…

Closed loop pre-paid card transactions in Austria are essentially merchant-issued gift cards, and demand for these continued to increase in 2023. In a time of persistently high inflation with increased prices of essentials such as food and petrol,…

The biggest news of 2023 has been administrative, with the Federal Reserve fighting inflation and the threat of recession. With inflation well above recent norms in 2022, the Fed spent roughly 18 months in a constant dance of deciding whether to…

Although cash transactions continued to play a strong role in Austria, a clear shift from cash to card payments continued in 2023. The outbreak of COVID-19 in Austria further accelerated the change, with consumers appreciating the contactless form of…

Fraud has hit debit cards hard in the US in recent years. Significant increases in card not present fraud have been recorded in the market in 2023, and are a legitimate concern for those in the financial industry. A significant threat to card usage…