Category: Banking & Financial Services
Banking & Financial Services market research reports by Euromonitor International
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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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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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Embedded Finance Revolutionising Cross-Border Transaction
Embedded Finance Revolutionising Cross-Border Transaction Global cross-border transaction market is projected to exceed USD40 trillion in 2028, largely driven by trading. Fast, low cost and secure became the three key service requirements of embedded cross-border transaction solutions, while local p ... Read More
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Debit Cards in Spain
Debit Cards in Spain 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 and insurance, most banks now ... Read More
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Pre-Paid Cards in Spain
Pre-Paid Cards in Spain 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 Consorcio de Transportes de Bi ... Read More
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Consumer Lending in Portugal
Consumer Lending in Portugal 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 share of other personal ... Read More
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Consumer Credit in Portugal
Consumer Credit in Portugal Consumer lending in Portugal maintains its positive growth trend in 2023. Demand for loans both for last-minute expenses and for current expenses is rising as consumers lose purchasing power and as savings stashed during the pandemic diminish. In 2023 all areas are seeing ... Read More
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Store Cards in Portugal
Store Cards in Portugal 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. Although there are attractive ben ... Read More
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Consumer Credit in Spain
Consumer Credit in Spain Buy now pay later (BNPL) continues to grow in popularity, particularly among young adults, and there is a notable shift to BNPL loans. A significant number of financial services providers have launched their own BNPL programmes, including Banco Santander, CaixaBank and BBVA, ... Read More
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Pre-Paid Cards in Portugal
Pre-Paid Cards in Portugal 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 circulation. Economic recov ... Read More
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Charge Cards in Portugal
Charge Cards in Portugal With low levels of penetration in the country, charge cards continues to grow in 2023 as it recovers from its sharp drop in 2020 during the COVID-19 pandemic. In 2023, boosted by inflation and by the recovery of business, transaction value is surpassing 2019 levels. Euromoni ... Read More
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Credit Cards in Portugal
Credit Cards in Portugal 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 than debit cards in terms ... Read More
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