Category: Banking & Financial Services
Banking & Financial Services market research reports by Euromonitor International
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Store Cards in Colombia
Store Cards in Colombia 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 benefits like cashback, many cons ... Read More
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Consumer Credit in the US
Consumer Credit in the US 2022 and 2023 saw some of the most rapid increases in lending interest rates in US history. During the pandemic, many interest rates approached record lows, leading consumers to refinance debt, and leading to a generally free lending environment. In the wake of dramatically ... Read More
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Credit Cards in Romania
Credit Cards in Romania The growth in credit card transactions is slowing down as a result of persisting inflation and escalating consumer prices, prompting a return to higher levels of budget-consciousness and financial uncertainty. Economic instability has led to reduced non-essential spending, wi ... Read More
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Charge Cards in Canada
Charge Cards in Canada Growth continues to slow for charge cards in Canada in 2023, with the category’s relevance fading rapidly. One reason is lack of availability, with American Express morphing many of its charge cards into the realm of traditional credit cards. For the average Canadian desiring ... Read More
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Debit Cards in Japan
Debit Cards in Japan In the past, debit cards were not prevalent in Japan, with alternative payment methods such as credit cards or cash dominating the market. Furthermore, Japanese banks typically issued “cash cards” to their customers, which were primarily intended for ATM withdrawals and basic ba ... Read More
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Pre-Paid Cards in Vietnam
Pre-Paid Cards in Vietnam The performance of pre-paid cards is supported by the growth of e-commerce – notably since the era of the pandemic. In fact, prior to 2020, transaction numbers in pre-paid cards were showing a negative performance, in sharp contrast to what is seen now. Furthermore, such de ... Read More
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Charge Cards in Poland
Charge Cards in Poland The post-pandemic return to normal lifestyles is helping to revive the charge card category, with transactions rising alongside the recovery in travel. Nevertheless, charge cards issued by banks continue to be infrequently utilised and the number in circulation is facing long- ... Read More
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Debit Cards in Taiwan
Debit Cards in Taiwan Debit card transactions experienced a noticeable decline in transaction value in 2022, a trend that commenced during the pandemic in 2021. This decline was primarily attributed to the increased prevalence of digital wallet transactions and the continued rise of direct debits, f ... Read More
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Consumer Lending in Sweden
Consumer Lending in Sweden Gross lending in Sweden registered positive, yet slower growth in 2022, as the uncertain economic environment, exacerbated by the Russian invasion of Ukraine, led to a decline in consumer confidence. In August 2022, the annual inflation rate soared to almost 10%, the highe ... Read More
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Financial Cards and Payments in Canada
Financial Cards and Payments in Canada In the wake of Covid-19 there was a notable shift away from cash transactions, while in 2023 (as in 2022) the retail value of personal cash transactions is rising rapidly. However, the surge has been fuelled by the inflation surges of 2022 and 2023. Nonetheless ... Read More
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Financial Cards and Payments in Romania
Financial Cards and Payments in Romania Romania lags behind in financial inclusion compared to other nations, showcasing a lower uptake of basic financial services, primarily due to a trifecta of factors: low financial literacy levels, a significant grey economy, and a widespread preference for cash ... Read More
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Financial Cards and Payments in Hong Kong, China
Financial Cards and Payments in Hong Kong, China Total card transactions in Hong Kong, along with electronic direct/ACH transactions and mobile payments, are recording double-digit growth rates in 2023 as consumption recovers from the pandemic. This is mainly being driven by overseas consumption due ... Read More
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Financial Cards and Payments in Taiwan
Financial Cards and Payments in Taiwan In 2023, electronic and mobile payments have taken centre stage, greatly reducing reliance on cash transactions in Taiwan. Local residents have enthusiastically adopted various digital payment options, particularly digital wallets, which have emerged as signifi ... Read More
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Financial Cards and Payments in Turkey
Financial Cards and Payments in Turkey A significant shift is underway in the realm of Dutch public transport, as the familiar OV chipkaart is being gradually phased out and replaced with a more versatile system known as OVpay. Since the start of 2023, travellers on public transport have the option ... Read More
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Consumer Credit in the United Kingdom
Consumer Credit in the United Kingdom Numerous consumers have increased their reliance on credit to enable them to afford higher retail prices in 2023, as the UK economy has continued to be impacted by high inflation and the rising cost of living. As a result, card lending is set to experience growt ... Read More
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Consumer Credit in Singapore
Consumer Credit in Singapore Following the pandemic, card lending, contributing to over 60% of consumer credit gross lending in Singapore, has witnessed significant growth, largely propelled by the enduring trend of revenge travel. The resumption of travel and tourism activities in numerous countrie ... Read More
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Consumer Credit in Egypt
Consumer Credit in Egypt Forbes Middle East's recent list of the top 30 fintech companies for 2023 highlighted a strong presence from Egypt. Fawry secured the top spot, boasting an extensive network of 36 member banks, over 280,000 agents, and a user base exceeding 49 million. MnT Halan claimed the ... Read More
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Consumer Credit in Indonesia
Consumer Credit in Indonesia Consumer credit gross lending has experienced further strong growth in 2023, along similar lines to the previous year. The main factor behind this growth has been the improvement in economic conditions as a result of increased community mobility since the removal of rest ... Read More
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Pre-Paid Cards in Greece
Pre-Paid Cards in Greece In 2023, open-loop pre-paid cards have seen a mild increase in the number of cards, transaction volume, and transaction value. This uptick is part of the general momentum in card transactions driven by the proliferation of digital wallets, contactless transactions, and e-com ... Read More
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Consumer Credit in Israel
Consumer Credit in Israel In 2023, the growth of consumer lending in Israel experienced a notable slowdown, continuing a trend observed over recent years. The outstanding balance in card lending saw a decline, significantly influenced by rising inflation and the increasing cost of living. With consu ... Read More
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Pre-Paid Cards in Canada
Pre-Paid Cards in Canada Pre-paid cards is seeing continued robust rises across all metrics in Canada in 2023, with growth in some areas outshining that of 2022. This is in large part thanks to a wave of innovation from card issues that is redefining the landscape. One of the most notable developmen ... Read More
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Consumer Credit in Thailand
Consumer Credit in Thailand Thailand’s economic performance in 2023 is improving as the pandemic effects subside and private consumption rebounds. Other positive factors include the surge in Thai and foreign travellers, as well as improvements in the service sector, which is key to driving economic ... Read More
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Debit Cards in Greece
Debit Cards in Greece Debit cards continue to dominate the Greek financial cards and payments landscape, showing further growth in 2023. They are growing in terms of the number of cards, volume and value of transactions, and increasingly accounting for smaller, everyday transactions as consumers opt ... Read More
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Pre-Paid Cards in Hong Kong, China
Pre-Paid Cards in Hong Kong, China Octopus has established itself as the most widely used and popular open loop pre-paid card in Hong Kong, offering a myriad of convenient features and services. Recognising the growing interest among local residents to explore the mainland during weekends or holiday ... Read More
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Debit Cards in Poland
Debit Cards in Poland Debit cards have been gaining importance as a payment method in Poland since the COVID-19 pandemic, when many consumers switched to cashless transactions as a way of minimising the risk of coming into contact with the COVID-19 virus. In 2023, the decline in cash payments is sig ... Read More
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