Financial Cards and Payments

Financial card transactions have posted healthy growth over recent years, following the government’s demonetisation initiative in November 2016, supported by the ongoing financial inclusion drive. Huge numbers of new bank accounts have been opened ...

Financial cards and payments continued to record growth in cards in circulation, transactions and overall value in 2019. Peru’s economy remains one of the fastest growing in the region, with real GDP rising, low inflation and increasing employment ...

Financial cards continued to record growth in current values sales, transactions and number of cards in circulation in 2019, although value growth in real teams (at 2019 constant prices) was again negative. President Macri’s government has generally ...

Financial payments in the Netherlands are increasingly dominated by card payments as consumers favour this method due to its ease of use and safety. This comes at the expense of cash payments, which Dutch consumers are dropping rapidly. This trend is...

Financial cards and payments posted continued growth in many categories in 2019. The government’s policy of supporting a favourable environment for financial cards drives increasing transactions and consumers’ habit of making transactions via ...

Financial cards and payments in Egypt continued to perform positively in 2019, despite facing challenges, such as relatively low card penetration rates, underdeveloped payment infrastructure, a large rural population and the strong presence of ...

Card payments continue to rise in the United Arab Emirates, with consumers using both cards as well as contactless payment methods to make payments more frequently and for smaller transactions. Economic indicators remain positive, with rising real ...

Although Vietnam still remains largely a cash society, financial cards continues to record strong growth rates. Many people living in urban areas are still in the habit of using cash, especially for low-value daily transactions. In many rural areas, ...

The Japanese financial cards and payment landscape is undergoing a potentially radical transformation, supported by government efforts to promote a cashless society. Cash remained the dominant method of payment in Japan in 2019, but the expansion of ...

Romania has a favourable macroeconomic environment for the performance of the financial cards and payments market. Salaries saw double-digit growth at the end of the review period, as well as increases in pensions and other incomes. These factors ...

Total card payment transaction value accounted for 40% of total consumer payments in Taiwan in 2019. The majority of card payment transaction value in the country took place in credit cards, while debit and charge cards contribute significantly small...

Consumer payment transactions continued to be dominated by the use of cash in the Philippines in 2019 due to the high proportion of unbanked population, although the government is determined to double the banked population by 2023. However, financial...

The implementation of the Nigerian government’s cashless policy, which limits the amount of cash that can be withdrawn in a day from a deposit money bank in the country, boosted demand for debit card transactions for cash at ATMs and card payments at...

2019 saw further strong growth recorded in financial cards and payments in Israel, although much of this growth was due to the significant uptake of debit cards among the population. Credit cards and pre-paid cards each recorded negative growth over ...

Australia saw the arrival of the open banking era in 2019 as more control of and access to financial product data was given to customers. Australians are now better able to compare and switch home loans and credit cards, as well as energy and phone ...

The number of financial cards in circulation in Malaysia increased slightly in 2019, whilst card payment transactions saw strong growth in both current value and volume terms. Credit card transactions continued to dominate card payment transactions ...

Card payment transactions continued to see growth in both current value and volume terms in 2019, with credit cards seeing a particularly strong performance. Credit cards and debit cards account for by far the highest sales in card payments in ...

The positive performance of financial cards in Denmark, in terms of growth in number of cards in circulation and transactions, was driven by increasing private consumption due to robust economic growth, a low unemployment rate, and higher disposable ...

The network of card acceptance terminals has increased in Hungary in recent years. This remains a high priority, and is key to whitening the country’s economy. Growth of card usage due to ease of use and fast transactions at checkouts, and a shift in...

Financial cards and payments continued to record a positive performance in 2019, driven by the desire to achieve financial inclusion in South Africa, leading to a further increase in the banked population. While cash transactions continued to be the ...