Consumer Finance

The world market for consumer finance continues to see card and electronic payment value grow for consumers around the world as consumer confidence strengthens. Card payment value growth over the forecast period is expected to be driven by credit…

Cash is no longer king. 2020 was a banner year for cashless payments, as cash fell below a quarter of global consumer payments. Driven down by a global pandemic, cash is being further eclipsed by new cadre of fintechs, card companies and real-time…

Visa is the second largest network operator globally after UnionPay. The company is known for its long-term stability and global reach, enabling secure payments for consumers in all of the world’s regions. 2022 has been a successful year for Visa, as…

Prior to the Coronavirus (COVID-19) pandemic, Asia Pacific had already begun to emerge as a leading edge of development in financial technology and digital transactions. This report leverages data from Euromonitor’s Consumer Finance and Economies and…

Although UnionPay is the largest card operator globally by card payment value, it is still far behind Visa and Mastercard outside China across all card segments. Besides commercial cards, its mobile app and QR, in which it has been expanding,…

Consumer Types can be a powerful tool to help companies better understand and appeal to their target markets. Consumers are grouped based on shared traits and preferences, companies can better develop products and marketing campaigns that resonate…

Buy now, pay later (BNPL) lending has rapidly become one of the more popular lending formats in recent years. Instalment billing is growing, with a variety of formats, players and industries. Payments players have been quick to jump on the bandwagon,…

The Travel Quarterly Statement for Q2 2022 shows a mixed picture for global travel and tourism. On the one hand, there is immense consumer demand as more travel restrictions ease, so much so that supply cannot match it due to challenges such as…

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…

Now in its seventh edition, this report explores the top digital shopper trends that will redefine commerce the most in the year ahead. Some of the trends included in this edition touch on topics such as second-hand shopping, community group buying,…

This report identifies the 10 global consumer trends expected to impact during 2021, providing specific characteristics and how the trend manifests, consumer behaviour and motivation driving the trend, as well as insights on how industry is…

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…

The next billion consumers represent new growth opportunities worth trillions of dollars in consumer spending across the globe. However, the next billion consumers are not a monolithic cohort, as they vary hugely from market to market. In order to…

As the COVID-19 pandemic drives seismic shifts across consumer markets, the key question facing business strategists is which of these changes are more reactionary in nature versus signalling the start of a long-term behavioural shift. This briefing…

The Coronavirus (COVID-19) crisis has led to a major structural change towards a complete digitalisation of operational structures of lifestyle brands, which in turn has reset the importance of customer experiences, building trust and strong…

Coronavirus (COVID-19) has shaken up consumer goods and service industries in the Middle East, putting pressure on supply chains and depressing sales as lockdowns and job losses squeeze discretionary spending. Essential items such as packaged food,…

The COVID-19 pandemic has altered the traditional consumer finance and payment landscape in a short period of time, and, given its scale, the impact is likely to remain for some time. Card networks, issuers and fintech face a variety of opportunities…

Hospitality companies have experimented with many new types of loyalty schemes since the pandemic began. In the Americas, subscriptions have become an especially popular option. Subscriptions is a fast-growing segment for hospitality loyalty, with…

As consumers prepare fewer meals overall, while demanding more assistance for the ones they do, spending and brand equity will accrue to those companies providing fresh prepared meals on demand, from delivery aggregators to retailers, restaurant…

Celebrations are moving away from foodservice and festivals and back into homes. This creates opportunities for experiential foods in retail. Consumers have more time than before the pandemic, and many have started cooking, creating opportunities in…

The importance of customer loyalty has grown in a time of disruption and rising uncertainty. A central place is taken by consumer-centric strategies, retention efforts and the need to provide added value to loyalty scheme members. One-size-fits all…

Store cards have a negligible presence in Vietnam with there being little interest or awareness of these card products. Furthermore, the government strictly controls the supply of credit in Vietnam which makes it a complicated and lengthy process to…

There were no store cards with “pay later” options available in Turkey at the end of the review period. All cards issued by retailers are closed loop pre-paid cards that enable payment in specific retail outlets. Over the forecast period, prospects…

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…

Even though consumers have relied more on credit to afford higher retail prices in 2023, due to the economic situation in the country, store cards have continued to decrease in popularity, with declines expected in terms of cards in circulation, and…

Store cards have been non-existent in the Netherlands since 2015. Since then, no new players have launched store cards and there have been no new attempts to introduce store cards by any of the former players. There is little sign that any meaningful…

At the beginning of 2023, the Thai government launched the Shop Dee Mee Khuen (Shop and Pay tax deductions program) allowing a personal income tax deduction of up to THB40,000. This programme covers a variety of goods and services such as fuel, food…

Store cards are not available in Taiwan. Hypermarket chain Carrefour was the last retailer to offer such cards and it ceased its operations in 2005. A trend towards alternative payment options such as digital wallets and the widespread popularity of…

Store cards are registering further decline in terms of both the number and value of transactions in 2023 as they are perceived to be old-fashioned, plus other financial card types and instruments offer greater flexibility. In contrast to credit…

Store cards account for a relatively small share of card payment transactions in Spain compared to credit, charge and particularly debit cards, as many local consumers are not well informed about the rewards and credit possibilities that store cards…

Store cards in South Korea is experiencing a trend of stagnant growth. Despite the enduring appeal of store cards and their unique set of benefits, the growth rates in both 2022 and 2023 feature stabilisation rather than substantial expansion.…

Store cards is set to witness growth in volume and value transactions in 2023, supported by cash-strapped consumers, notably lower- to middle-income consumers. This trend has been consolidated by the rising cost of living, which continues to affect…

With the economy reopened post pandemic and consumers returning to store-based outlets, store cards is again enjoying positive growth. In 2023, the category’s growth is boosted by rising consumers’ expenditure levels and high inflation rates.…

During 2022, there remained no store cards in circulation in Poland as the entire store cards concept is seen as obsolete and there are currently no issuers or operators with any interest in offering store cards to consumers. Previously, Sygma Bank…

The utilisation of store cards is on a notable decline, largely due to a transition where most stores have opted to partner with major operators in the market, like Visa or Mastercard. As a result, prominent department stores have ceased issuing…

While Norway is one of the most advanced societies in the world regarding card payments, the digitalisation trend has had little impact on store cards. As a result, store cards have become increasingly marginalised in Norway and represent less than…

Store cards had no presence in Nigeria over the review period. This is not expected to change over the forecast period. 

The popularity of store cards was already in decline during the review period. Among the main reasons for this is that many local consumers struggle to see the advantages that these cards offer or, alternatively, they understand the advantages but do…

Store cards demonstrated sustained growth in transaction values even during the pandemic. According to the 2018 National Financial Inclusion Survey (ENIF) conducted by the National Banking and Securities Commission (CNBV), 61.5% (15.1 million) of…

Store cards are often referred to as “Gaisho cards” in Japan. Gaisho is a department most often found in department stores, positioned somewhat like direct selling. Gaisho are elite staff members with high levels of skill and experience, and these…

Store cards continued to register a negative performance in 2023, in terms of both the number of cards in circulation and the value of transactions, continuing the trend established during the review period. This was due to strong competition from…

Store cards remained non-existent in Israel in 2021. No retailers have expressed a strong interest in offering these types of financial cards. Moreover, there is currently no indication that store cards will emerge in the country at any point during…

Store cards remains a negligible category in the country. The majority of establishments in India tend to offer loyalty cards (these can be used to add and store reward points as credit currency, a simpler solution without the threat of debt…

There are currently no store cards in circulation in Hungary. Magyar Cetelem Bank stopped offering store cards in 2008 and no retailers have since signalled any intention to relaunch such services. Instead, retailers are collaborating with banks to…

The presence of store cards remained negligible in Greece during 2022. No major interest in launching products in this category of the financial cards has been shown by any of the country’s financial cards issuers. In particular, the unfavourable…

In 2023, store cards in Germany faced stagnant development. Despite a brief resurgence in 2021 and 2022, the category has struggled to return to pre-pandemic levels. The decline is attributed to the growing consumer preference for alternative loyalty…

From many years, there has been a decline in the number of store cards in France, along with a lowering of the average spend. The economic context and inflationary pressures are notable factors here, along with the fact that French consumers…

Store cards continue to lose popularity in Denmark, with the number of cards in circulation expected to fall slightly, with total transaction value falling significant. This is in spite of rising inflation. Store cards have not kept up with…

Store cards are expected to continue their downward trajectory in 2023 in both transaction value and the number of cards in circulation. With consumers having more alternatives to choose from pre-paid, including credit or debit cards offering…