Western Europe

During the COVID-19 pandemic of 2020-2021, commercial charge cards experienced a significant downturn in sales. The lockdowns, decline in tourism (a key driver of the Greek economy), general reduction in business activities, and restrictions on…

Charge cards in 2023 is benefitting from the revival of meetings, incentives, conferences, and exhibitions (MICE) and business tourism, which experienced a significant slump during the era of the pandemic, and which has taken some time to bounce back…

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…

Pre-paid cards is set to see a solid performance in 2023, while other card payment methods, such as charge cards and store cards, are set to decrease significantly, and others are set to see slower growth, such as debit cards. One of the factors…

In 2023, the UK’s economy has continued to be characterised by a high inflation rate and a rising cost of living. And, while in 2022 this situation was mainly exacerbated by the high cost of energy, in 2023 this cost has gradually started decreasing,…

In 2023, debit cards remains the preferred and most widely used payment method, increasing from the previous year in terms of the number of cards in circulation, as well as the volume and retail value of transactions. However, this growth is set to…

In 2022, there was double-digit growth in terms of credit card spending for both personal and commercial credit cards. High inflation and the rising cost of living, which have also been affecting Britons in 2023, were amongst the main causes. In…

Charge cards is expected to continue to see double-digit declines in 2023 in terms of cards in circulation, and volume and value transactions. Historically, charge cards were primarily associated with business use, as the majority of transactions,…

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.…

Closed loop pre-paid cards remain dominant in Spain, accounting for around four-fifths of transactions by value. Indeed, closed loop pre-paid cards issued by the public transportation systems in Madrid and Bilbao (Consorcio Transporte Madrid and…

Boosted by the recovery of transportation cards, which had suffered severely during the COVID-19 pandemic, closed loop cards is seeing double-digit growth in 2023. Otlis, Lisbon’s transportation system cards, leads in terms of number of cards in…

The Spanish economy has performed better than anticipated in 2023, despite the challenges posed by high energy costs and the aftermath of the COVID-19 pandemic, with consumption continuing to recover to 2019 levels, boosted by the recovery of travel…

Portuguese consumers continue to shift towards electronic payment instruments (payment cards, electronic direct or ACH transactions), with cards being the most used electronic payment instrument in everyday life. The trend of replacing cash with card…

Banks in Spain are changing their business strategy, resulting in a decline in the number of debit cards issued in 2023. Whilst customers previously had access to a free debit card if they had other banking products and services, including mortgages…

Debit cards is on the rise in 2023, boosted by growing expenditure levels. Despite downward pressure on consumer purchasing power, Portuguese people have continued to increase their expenditure levels in 2023 as a result of rising inflation rates and…

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…

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 costs of households have continued to rise across the board in 2023 due to the change in tone of the monetary policy of the European Central Bank, which increased interest rates four times during 2022 and 2023, resulting in rising interest rates…

Consumer lending in Portugal is expanding in 2023 amid rising interest rates and decline in households’ disposable incomes. Demand for mortgages is slowing down with card lending posting the most dynamic growth. BNPL, although representing a small…