Financial Cards and Payments

Financial cards and payments in Germany experienced a boost in 2022 resulting from real growth in consumer spending. With the impact of the pandemic on everyday life in Germany gradually waning, consumer expenditure increased considerably. This was…

Financial cards will record growth across both value and volume transactions as well as number of accounts and cards in circulation in 2022. This is largely thanks to the country’s emergence from the COVID-19 pandemic and the return to pre-pandemic…

In 2022, the number of financial cards in circulation continues to grow, driven by credit cards, store cards and closed loop pre-paid cards. Demand and usage are being driven by the relaxing of restrictions in South Korea, with social distancing…

Singapore is an advanced market, and the payments infrastructure is extremely well-developed. Moreover, the government is aiming to make the city-state a cashless society by 2025. Consequently, cash usage is decreasing, and it is therefore believed…

The number of financial cards in circulation and the value of transactions using financial cards continue to rise in 2022, following a positive performance the previous year as India started to recover from the impact of the pandemic, which included…

Financial cards and payments in Austria continue to be shaped by the shift from cash to card transactions in 2022, following the easing of restrictions in line with falling cases of COVID-19. This is leading to the greater resumption of socialising…

2022 has seen many changes in the financial cards and payments space in the US. The beginning of the year saw a resurgence in spending following pent-up demand during the early stages of the COVID-19 pandemic. The reopening of retail outlets and…

The Taiwanese are adapting to post-pandemic life in 2022 but continue to embrace the new payment behaviours they readily adopted in pandemic period. Consumers continue to make more mobile payments and use digital wallets for a wealth of products,…

The strong moves towards a cashless society in Malaysia, pushed by the government and private actors, such as retailers, and accelerated by the experience of the Coronavirus (COVID-19) pandemic, provided a further boost to the use of card payments as…

2022 marked the beginning of the recovery period in Indonesia’s financial cards and payments market. Many categories are very reliant on the mobility of the population. As people started to go back to work and resume their activities, their financial…

Owing to the Saudi Vision 2030, Saudi Arabia had already been taking steps to transform into a cashless society, even before the COVID-19 pandemic hit. With the pandemic measures greatly supporting this cause, Saudi Arabia has witnessed significant…

The use of cash as a payment method in Poland has been on the decline for many years, a trend that was accelerated during the COVID-19 pandemic. With consumers looking to avoid using cash as a way of minimising the risk that they will come into…

Despite efforts by the Moroccan government to digitise public services and boost the digital economy, the vast majority of transactions in Morocco remain exclusively in cash in 2022. Morocco has Africa’s highest rate of bank branches for every…

Despite recent developments in digital payments in Egypt, Egyptian society remains reliant on cash for the time being. Even though card payments already has relatively high penetration and has seen robust growth in recent years, cash payments remain…

In 2022, the performance of financial cards and payments is set to be in line with the global and domestic macroeconomic environment and regulatory policies. Despite facing heightened volatility stemming from geopolitical instability and economic…

Having rebounded strongly in 2021 as COVID-19 restrictions were gradually eased and daily life began to normalise, the rate of growth in retail constant value sales (2022 prices) of card transactions slowed significantly during 2022. A difficult…

The impact of the COVID-19 pandemic is gradually softening, with life returning to relative normality in Vietnam in 2022. Cashless payments became a new standard during the pandemic and have taken on an important role in financial cards and payments…

Financial cards and payments in Argentina has continued to expand at an impressive pace in terms of total current value transactions in 2022, with growth set to surpass that recorded in 2021. Its performance in this regard has been distorted by high…

Financial card transactions and value spend continues to recover from the negative impact of the COVID-19 pandemic in 2022. Expenditure on services is contributing to this growth with travel, eating out and demand for cultural events rising sharply…

Digital wallets have made a huge splash in Israel’s financial cards and payments industry and 2022 was a breakthrough year for digital wallets that consumers use the payment apps loaded onto NFC-enabled smartphones. In the category has huge potential…