Category: Banking & Financial Services
Banking & Financial Services market research reports by Euromonitor International
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Debit Cards in China
Debit Cards in China In 2023, debit card spending is expected to see year-on-year growth both in terms of payment transactions and payment values, derived from pent-up demand over the last three years, which has been released in this year. Many consumers have taken the reopening of society as an opp ... Read More
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Consumer Lending in Australia
Consumer Lending in Australia The major talking point of 2023 from a consumer lending point of view has been the increase in interest rates over the year as a result of the RBA (Reserve Bank of Australia) attempting to address high inflation rates. Due to higher interest rates, outstanding balance h ... Read More
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Financial Cards and Payments in China
Financial Cards and Payments in China Financial cards and payments in China is set to see a rebound in 2023, following the lifting of COVID-19 restrictions. Consumers have taken the reopening of society as an opportunity to increase their discretionary spending, particularly in the areas of travel, ... Read More
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Pre-Paid Cards in Singapore
Pre-Paid Cards in Singapore EZ-link, the leading open-looped pre-paid card in Singapore, has significantly benefited from the resumption of regional travel. Not only has EZ-link gained traction among tourists visiting Singapore, who find it a convenient payment solution for various modes of public t ... Read More
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Debit Cards in Singapore
Debit Cards in Singapore The consistent growth of debit cards in Singapore can be attributed to the ongoing enhancement of benefits provided to debit cardholders. In the past, debit card offerings and associated benefits were generally outpaced by those offered by credit cards. However, in an attemp ... Read More
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Store Cards in the United Kingdom
Store Cards in the United Kingdom 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 volume and value ... Read More
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Financial Cards and Payments in the United Kingdom
Financial Cards and Payments in the United Kingdom 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 ... Read More
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Debit Cards in the United Kingdom
Debit Cards in the United Kingdom 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 be marginal in co ... Read More
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Charge Cards in the United Kingdom
Charge Cards in the United Kingdom 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, both in volume an ... Read More
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Pre-Paid Cards in the United Kingdom
Pre-Paid Cards in the United Kingdom 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 contributing to t ... Read More
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Credit Cards in the United Kingdom
Credit Cards in the United Kingdom 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 2022, the main sour ... Read More
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Credit Cards in South Africa
Credit Cards in South Africa As more middle-income households are struggling to reach month-end, due to the combined effects of rising interest rates, which have put pressure on existing vehicle and mortgage loans, as well as inflationary pressures, which have affected disposable incomes, credit car ... Read More
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Store Cards in South Africa
Store Cards in South Africa 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 household disposable in ... Read More
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Charge Cards in South Africa
Charge Cards in South Africa Following the significant decline in transaction value and volumes experienced in 2020 due to extended restrictions imposed in the South African travel and hospitality industries in response to the COVID-19 pandemic, the complete lifting of the state of emergency has sin ... Read More
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Financial Cards and Payments in South Africa
Financial Cards and Payments in South Africa The number of financial cards in circulation is set to continue to increase in 2023, supported by a steady rise in the banked population and the intensified competition between issuers. Meanwhile, value transactions across categories such as debit cards a ... Read More
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Debit Cards in South Africa
Debit Cards in South Africa The prices of essential goods and services such as food and electricity have continued to rise in 2023, despite the relatively lower level of inflation, which moved from 7.0% in 2022 to 5.7% in 2023. Debit card value transactions benefited from this trend. The overall per ... Read More
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Pre-Paid Cards in South Africa
Pre-Paid Cards in South Africa As mobility has normalised in 2023, following restrictions imposed during the pandemic, demand for pre-paid cards for the Bus Rapid Transport (BRT) system has benefited from households resuming activities such as work and school. Growth in transaction values has also b ... Read More
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Consumer Lending in South Africa
Consumer Lending in South Africa The South African economy has continued to struggle in 2023, as reflected by 0.4% real GDP growth, the unemployment rate stagnating beyond 32%, and the South African rand depreciating further against major currencies. Economic growth has also been constrained by pers ... Read More
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Consumer Credit in South Africa
Consumer Credit in South Africa Demand for consumer credit gross lending is set to continue to increase in 2023, despite the South African Reserve Bank’s consecutive rises in interest rates to stabilise inflationary pressures. This trend has been driven mainly by declining disposable incomes across ... Read More
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Credit Cards in Spain
Credit Cards in Spain 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 credit cards), predictable ... Read More
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Consumer Lending in Spain
Consumer Lending in Spain 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 on mortgages and consume ... Read More
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Debit Cards in Portugal
Debit Cards in Portugal 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 a decline in savings. Eco ... Read More
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Store Cards in Spain
Store Cards in Spain 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 offer. They are mainly used b ... Read More
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Financial Cards and Payments in Portugal
Financial Cards and Payments in Portugal 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 purchase ... Read More
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Charge Cards in Spain
Charge Cards in Spain Charge cards are the second-most-favoured option of local consumers when it comes to payment cards, after debit cards but ahead of credit cards. This is partly down to inertia—charge cards have a longer tradition than credit cards in Spain. Euromonitor International's Charge Ca ... Read More
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