Store Card Transactions

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

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…

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…

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…

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…

An intriguing metamorphosis is underway in the realm of store cards across Chile. Witnessing a downward trajectory, this transformation is driven by two pivotal factors, revolutionising the market and empowering consumers. First, the consumer…

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 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…

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…

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…

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…

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.…

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…

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…

In recent years, there has been a notable shift in consumer preference from store-specific cards to more versatile credit cards, allowing them to use a single card for all purchases. This shift has compelled store cards to transition into credit…

Usage of store cards in Australia has not improved post-pandemic, as the product has fallen out of favour among consumers. Credit cards are more competitive in terms of rewards and can be used anywhere, while store cards are restricted to specific…

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…

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…

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 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…

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…

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 is recording only low growth in Canada in 2023, for several reasons. A glaring limitation lies in store cards’ narrowed reward horizons, compounded by a restricted usability across disparate retail chains. This inherent constriction has…

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…

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…

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 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 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…

One notable historical factor contributing to the popularity of store cards in Brazil is the ease of acquisition. Typically, consumers can swiftly register for a store card in-store, a process often completed in five minutes or less. This…

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…

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 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.…

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…