Consumer Finance

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…

Debit cards are generally preferred to credit cards in the Czech Republic. In 2023, debit card transaction growth is being driven by the decline in cash transactions and the growing number of point-of-sale (POS) terminals in retail stores. In 2023,…

Thai consumers have been spending more on credit cards in 2023 in line with an increase in the consumer confidence index and a marked improvement in the Thai economy. Expenditure on various products and services, including shopping, restaurants,…

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 buy now, pay later (BNPL) trend has taken hold in Spain, particularly among younger consumers, and is rapidly gaining share in Spain. Consumers choose BNPL for a variety of reasons, including the lower APR (in most cases 0%, as opposed to 18% for…

In 2022, the relaxation of pandemic-related restrictions, including the easing of social distancing rules, heralded a significant shift in local consumers’ behaviour. With a newfound freedom to venture outdoors, a growing number of individuals opted…

As more middle-income households are struggling to reach month-end, due to the combined effects of rising interest rates, which have put pressure on existing vehicle and mortgage loans, as well as inflationary pressures, which have affected…

Credit card transactions in Singapore have sustained considerable growth in both total retail value and transaction volume, owing to the resurgence of the travel industry in Asia Pacific. This revival of travel has become the key growth driver for…

Credit cards are not as popular as debit cards in the Kingdom of Saudi Arabia, however, the category still shows a fair performance. One main issue which credit cards face in the KSA is a question mark around their compliance with Sharia Law.…

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…

After a robust rise in 2022, credit cards continues to enjoy positive growth in 2023, boosted by local consumers’ increasing expenditure and higher levels of penetration. However, and in contrast to 2022, in 2023 credit cards is seeing slower growth…

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…

The resumption of daily routines as the country emerges out of the Coronavirus (COVID-19) crisis has sparked spending on both personal and commercial credit cards. In 2023, the number of commercial credit cards in circulation is rebounding, following…

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…