Category: Banking & Financial Services
Banking & Financial Services market research reports by Euromonitor International
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Store Cards in Austria
Store Cards in Austria 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 revolving credit in payment ... Read More
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Store Cards in the US
Store Cards in the US 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 resulted remain significant, and ... Read More
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Debit Cards in the US
Debit Cards in the US Fraud has hit debit cards hard in the US in recent years. Significant increases in card not present fraud have been recorded in the market in 2023, and are a legitimate concern for those in the financial industry. A significant threat to card usage has been the growth of card s ... Read More
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Charge Cards in Austria
Charge Cards in Austria Driven by a shift from cash to card payments, boosted by the outbreak of COVID-19 and the continuing recovery of travel, charge cards saw solid growth in transaction and value terms. However, growth was at a slower pace compared to credit and debit cards, with debit cards hav ... Read More
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Charge Cards in the US
Charge Cards in the US Charge cards as a whole has been performing well in 2023, and it is expected to continue to grow beyond pandemic lows. Consumer spending in 2023 has driven payments across all card types, with the return to travel remaining an important storyline – a significant area of streng ... Read More
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Financial Cards and Payments in the US
Financial Cards and Payments in the US The biggest news of 2023 has been administrative, with the Federal Reserve fighting inflation and the threat of recession. With inflation well above recent norms in 2022, the Fed spent roughly 18 months in a constant dance of deciding whether to continue raisin ... Read More
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Pre-Paid Cards in the US
Pre-Paid Cards in the US 2023 is likely to go down as the first generally “normal” year of the 2020s. While 2022 saw most companies return to at least some form of hybrid working, the emergence of the Omicron variant early in the year had a significant effect on the overall health of the nation. 202 ... Read More
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Financial Cards and Payments in Austria
Financial Cards and Payments in Austria Although cash transactions continued to play a strong role in Austria, a clear shift from cash to card payments continued in 2023. The outbreak of COVID-19 in Austria further accelerated the change, with consumers appreciating the contactless form of payment. ... Read More
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Credit Cards in the US
Credit Cards in the US Credit cards in the US is set to continue to see robust growth by all measures in 2023. While inflation in the country has generally been at lower levels than in the extreme outlier year of 2022, prices have still grown considerably, and some US consumers have been forced to r ... Read More
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Consumer Lending in the United Arab Emirates
Consumer Lending in the United Arab Emirates Despite rising inflation, increasing mortgage rates and interest rates, consumer lending in the United Arab Emirates remains buoyant in 2023. The local economy’s recovery and expansion are influencing the momentum of consumer lending, but geopolitical ten ... Read More
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Consumer Lending in South Korea
Consumer Lending in South Korea Gross consumer lending’s growth is continuing to outperform outstanding balance, driven by card lending, as local consumers spend more with the reopening of society and cross-border travel. However, outstanding balance on card lending (encompassing card purchases and ... Read More
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Pre-Paid Cards in Italy
Pre-Paid Cards in Italy Pre-paid cards continued to be one of the most popular types of financial card in Italy, particularly in the case of young adults or those without a bank account. However, as with other financial cards, the rise of contactless payments expanded usage of pre-paid cards to a wi ... Read More
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Financial Cards and Payments in Italy
Financial Cards and Payments in Italy Financial cards and payments performed well in Italy in 2023, both in terms of the number of cards in circulation and the value of transactions. Growth was underpinned by the growing trend towards cashless payments, even for smaller amounts, thanks to the develo ... Read More
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Consumer Credit in Greece
Consumer Credit in Greece In 2023, gross lending in the primary category of other personal lending is experiencing a slowdown in growth due to inflation and reduced disposable incomes. Rising prices, coupled with stagnant salaries, have instilled a sense of insecurity in consumers, making them hesit ... Read More
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Credit Cards in Italy
Credit Cards in Italy Despite a decline in the number of cards in circulation, credit cards in Italy registered dynamic growth in terms of both number of transactions and transaction value in 2023, continuing the trend of the previous year. This was driven by the growing popularity of cashless trans ... Read More
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Debit Cards in Italy
Debit Cards in Italy The enduring consumer preference for debit cards over credit cards continued throughout 2023, with the former accounting for the more than 10 times the value of the latter in terms of transactions. Such cards are easy to obtain in Italy, as well as having low associated costs. F ... Read More
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Store Cards in Italy
Store Cards in Italy 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 other financial card types and ... Read More
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Consumer Lending in Greece
Consumer Lending in Greece The growth of gross lending in consumer lending for 2023 is moderate and slower than what was anticipated a year ago. Factors such as surging inflation, an escalating energy crisis exacerbated by the Russian invasion of Ukraine (with its effects fully realised in 2023), an ... Read More
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Charge Cards in Italy
Charge Cards in Italy Charge cards continued to register a healthy performance in 2023, with a rise in the number and value of transactions. This was linked to the growing popularity of cashless transactions, as consumers become increasing confident about making digital payments over cash. The retur ... Read More
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Pre-Paid Cards in Hungary
Pre-Paid Cards in Hungary In January 2023, the previously separate pockets - accommodation, hospitality and leisure - were consolidated; therefore, the charges associated with these sectors are now aggregated and considered together. Also, in order to expedite the use of remaining funds, two additio ... Read More
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Credit Cards in Colombia
Credit Cards in Colombia In 2023, the issuance of credit cards is expected to remain almost flat, with no significant increase. Growth rates for the number and value of transactions are also expected to decelerate compared to the previous year. The value of transactions, particularly for personal cr ... Read More
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Credit Cards in Nigeria
Credit Cards in Nigeria Most banks perceive credit cards as high risk due to experiencing frequent default rates in the past. As such, credit cards continue to be relatively scarce in Nigeria, with mainly high net-worth individuals owning credit cards. Also, due to the instability of the naira, many ... Read More
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Charge Cards in Turkey
Charge Cards in Turkey Charge cards were not issued by banks in Turkey at the end of the review period. Instead, credit cards and debit cards remain the two main types of financial card. Consumers who use credit cards employ them mostly for the “pay later” function, while they use debit cards, which ... Read More
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Consumer Lending in Hungary
Consumer Lending in Hungary The initial optimism of early 2022 was abruptly dampened by the end of the year, and this has persisted throughout 2023. The sharp rise in borrowing costs coupled with a decline in disposable incomes due to high inflation has compelled Hungarians to reassess their budgets ... Read More
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Consumer Lending in the US
Consumer Lending in the US The primary challenges facing consumer lending in 2023 have been a continuation of 2022’s twin factors of higher inflation and increasing interest rates. While the story in 2022 was one of largely unchecked inflation affecting much of the US economy, 2023 has really zeroed ... Read More
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