Category: Credit Cards
Credit Cards market research reports by Euromonitor International
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Consumer Credit in Romania
Consumer Credit in Romania Consumer lending in 2023 is experiencing a slowdown due to the rapid rise in interest rates and the prevailing economic uncertainty. There is a notable increase in interest in quick loans from non-banking institutions and card lending. The surge in prices and declining dis ... Read More
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Consumer Credit in Nigeria
Consumer Credit in Nigeria A new government inherited a sluggish economy, record debt and shrinking oil output, due to creaking infrastructure. On foot of this, the government has implemented some difficult decisions in order to stabilise the economy, including ending a decades-old petrol subsidy th ... Read More
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Credit Cards in Israel
Credit Cards in Israel In early 2023, the Israeli government is set to mandate Discount Bank to divest its credit card business, Visa Cal, aiming to enhance competition within the credit card market. This move will introduce a new player to the credit market, fostering a more diversified and competi ... Read More
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Charge Cards in Greece
Charge Cards in Greece During the COVID-19 pandemic of 2020-2021, commercial charge cards experienced a significant downturn in sales. The lockdowns, decline in tourism (a key driver of the Greek economy), general reduction in business activities, and restrictions on travel and dining – vital areas ... Read More
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Credit Cards in Denmark
Credit Cards in Denmark While the number of cards in circulation is expected to remain stable, with only a marginal increase, there is expected to be a double-digit increase in total transaction values. This is largely explained by inflation, particularly as the spend on credit cards is usually for ... Read More
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Financial Cards and Payments in Nigeria
Financial Cards and Payments in Nigeria Nigeria continues to be a cash economy, though debit cards in particular are growing in popularity. Also, in 2023, this growth was further amplified, due to a cash shortage, as there was insufficient supply of the newly designed naira. As a result, in March, t ... Read More
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Financial Cards and Payments in Greece
Financial Cards and Payments in Greece The Greek financial card and payments market experienced robust growth in 2022, fuelled by post-pandemic recovery and the impact of inflation. This growth trend persists into 2023, albeit at a slower pace, attributed to the positive economic outlook and relativ ... Read More
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Consumer Lending in Turkey
Consumer Lending in Turkey In 2023, consumer lending has witnessed a surge in current value growth, despite soaring inflation rates that have caused substantial economic challenges for consumers. Unpredictable fluctuations in the cost of living and foreign exchange rates have made consumers more rel ... Read More
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Consumer Lending in Romania
Consumer Lending in Romania Consumer lending in Romania for the year 2023 portrays a nuanced landscape influenced by several key factors. The confluence of increasing interest rates, high inflation, and the geopolitical context shaped by the Russian invasion of Ukraine has collectively dampened Roma ... Read More
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Consumer Lending in Singapore
Consumer Lending in Singapore Consumer lending in Singapore is exhibiting positive growth in 2023, displaying a robust recovery from the pandemic's impact since 2022. Notably, card lending has emerged as a significant driver of growth in overall consumer lending, coinciding with the country's ongoin ... Read More
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Consumer Lending in Vietnam
Consumer Lending in Vietnam In 2023, the State Bank of Vietnam implemented measures to promote consumer lending for daily needs. To encourage banks to increase their lending activities, including consumer lending, the State Bank issued Circular No. 06/2023/TT-NHNN on 28 June 2023, amending and suppl ... Read More
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Financial Cards and Payments in Peru
Financial Cards and Payments in Peru Financial cards and payments have indeed witnessed substantial growth in 2023. However, this growth has seen a notable slowdown due to consumers adopting a more cautious approach to spending. Factors contributing to this caution include the sluggish economic grow ... Read More
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Credit Cards in Hong Kong, China
Credit Cards in Hong Kong, China Since the reopening of borders in the fourth quarter of 2022, there has been a surge in enthusiasm among Hong Kong locals to travel abroad after enduring three years of the pandemic. Residents are now showing a strong and sustained interest in reallocating their spen ... Read More
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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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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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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 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 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 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 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 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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Pre-Paid Cards in Israel
Pre-Paid Cards in Israel In 2023, closed loop pre-paid cards witnessed a decline in transaction value and volume, consistent with a continuing trend as consumers increasingly shift towards payment apps. Despite some consumers still having significant value loaded onto their Rav Kav pre-paid cards, t ... Read More
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Consumer Credit in Hungary
Consumer Credit in Hungary As inflation continues to rise, an increasing number of households find themselves in a financially precarious situation at the end of the month or salary payment periods. The impact of inflation bites into monthly budgets, leading to higher expenses for essential goods an ... Read More
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Store Cards in Peru
Store Cards in Peru The utilisation of store cards is on a notable decline, largely due to a transition where most stores have opted to partner with major operators in the market, like Visa or Mastercard. As a result, prominent department stores have ceased issuing standalone store cards and instead ... Read More
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