Category: Credit Cards
Credit Cards market research reports by Euromonitor International
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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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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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Consumer Lending in Colombia
Consumer Lending in Colombia The Colombian economy felt the effects of a slowdown in the first semester of 2023 due to a restrictive monetary policy, compounded by a significant increase in interest rates at the end of 2022. This caused credit card interest rates to rise above 40%, leading to consum ... Read More
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Consumer Lending in Malaysia
Consumer Lending in Malaysia Towards the end of the review period, many local consumers took out personal loans to cope with higher financial burdens. Malaysian banks have offered personal loans with more flexible repayment plans and more appealing terms when required. The economic uncertainty in Ma ... Read More
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Consumer Lending in Hong Kong, China
Consumer Lending in Hong Kong, China Consumer lending in Hong Kong is experiencing a spike in growth as the economy recovers from the impact of the pandemic, with 14% growth in gross lending primarily driven by card lending. The reopening of borders in the fourth quarter of 2022 has sparked a strong ... Read More
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Consumer Lending in Denmark
Consumer Lending in Denmark There is expected to be moderate growth in consumer credit gross lending in 2023, though growth will be significantly lower than the previous year. In terms of housing/mortgages, gross lending is expected to fall. A second year of rising interest rates and rising inflatio ... Read More
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Financial Cards and Payments in Hungary
Financial Cards and Payments in Hungary The COVID-19 pandemic has significantly influenced payment habits in Hungary, leading to an increased reliance on cards, online payments and smartphone applications. This trend continued as pandemic-related restrictions were gradually lifted throughout 2022. T ... Read More
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Consumer Lending in Chile
Consumer Lending in Chile Chile's economy faces challenges as bank credit declined in 2022, the most negative annual variation in 30 years. The economic slowdown stems from a gradual adjustment to previous macroeconomic imbalances, with range projections of -0.5%-0.25% in 2023. Credit is showing low ... Read More
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Consumer Lending in Mexico
Consumer Lending in Mexico The consumer lending landscape in Mexico is expected to continue to display growth in both gross lending and the outstanding balance in 2023. 2023 is proving to be particularly favourable for the growth and expansion of fintech companies, which extend credit to consumers w ... Read More
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Consumer Credit in Peru
Consumer Credit in Peru Consumer credit has continued to witness robust growth in 2023, albeit at a moderated pace compared to the preceding two years. This growth encompasses both outstanding balances and gross lending, having already rebounded to pre-pandemic levels in 2022. The resurgence is attr ... Read More
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Pre-Paid Cards in Nigeria
Pre-Paid Cards in Nigeria Nigeria remains a mainly cash-driven society, though debit card usage is growing. Pre-paid cards, however, are not a popular option, and while the number of cards is expected to increase, constant transaction value is expected to fall in 2023, as inflation remains very high ... Read More
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Store Cards in Sweden
Store Cards in Sweden Store cards are registering further decline in terms of both the number and value of transactions in 2023 as they are perceived to be old-fashioned, plus other financial card types and instruments offer greater flexibility. In contrast to credit cards, debit cards and mobile ap ... Read More
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Consumer Lending in Saudi Arabia
Consumer Lending in Saudi Arabia Consumer lending in Saudi Arabia is on the upturn, as the Kingdom has generally recovered from the aftereffects of the COVID-19 pandemic. Moreso, due to consumer behaviour and expenditures unwaveringly affected by the pandemic, along with 15% VAT, consumer lending is ... Read More
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Consumer Lending in Italy
Consumer Lending in Italy Consumer lending in Italy maintained positive, albeit modest growth in current value terms in 2023, as ongoing economic uncertainty led many Italians to retain a cautious attitude towards borrowing. Factors such as high inflation rates, increasing ECB interest rates and hig ... Read More
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Financial Cards and Payments in Denmark
Financial Cards and Payments in Denmark In terms of financial cards, Denmark is a saturated market and the number of cards in circulation is not expected to increase significantly across debit, credit, pre-paid or store cards. Euromonitor International's Financial Cards and Payments in Denmark repor ... Read More
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Pre-Paid Cards in Denmark
Pre-Paid Cards in Denmark While there is a significant number of pre-paid cards in Denmark, the spend is not significant. That being said, there is expected to be a modest increase in value spend in 2023, largely driven by rising inflation. With debit cards having significant penetration and the pop ... Read More
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Consumer Credit in Denmark
Consumer Credit in Denmark Increasing interest rates are having an impact on consumer lending in 2023, with growth lower than the previous year. That being said, growth is still positive as the economy fares fairly well, in spite of inflation continuing to rise, though at a slower rate than in 2022. ... Read More
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Charge Cards in Morocco
Charge Cards in Morocco The number of charge cards in circulation in Morocco is rising thanks mainly to population growth, urbanisation and the rising share of the banked population. The convenience of interest-free deferred payments - the core feature of charge cards - is a major incentive for loca ... Read More
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Charge Cards in Romania
Charge Cards in Romania Charge cards experience sluggish growth due to rising inflation and a low economic performance, leading companies to optimise expenditures by reducing spending limits. However, charge cards lack digital options that are flourishing in other card types, causing a stagnation in ... Read More
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Credit Cards in Turkey
Credit Cards in Turkey Credit card transactions continue to exhibit triple-digit current value growth in 2023, aligning with the extremely high inflation rate in Turkey. The rising number of credit cards and transactions is primarily driven by the influx of new consumers entering the banking system ... Read More
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