Category: Financial Services
Financial Services market research reports by Euromonitor International
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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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Financial Cards and Payments in Vietnam
Financial Cards and Payments in Vietnam 2023 is witnessing a substantial increase in both the volume and value of financial cards overall, primarily driven by government initiatives aimed at encouraging cashless payments. Debit cards, credit cards, and pre-paid cards are all seeing healthy double-di ... 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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Debit Cards in Peru
Debit Cards in Peru The momentum of debit card usage continues to surge in 2023, mirroring the trend seen in recent years and maintaining its steadfast trajectory since the onset of the pandemic. The issuance of debit cards has remained notably robust, showcasing the consistent growth witnessed duri ... Read More
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Pre-Paid Cards in Norway
Pre-Paid Cards in Norway Although they are still a popular option in Norway, the volume of pre-paid cards has dropped significantly since the pandemic. Both open loop and closed loop pre-paid cards continue to decline in 2023, albeit at a slower rate than previous years. However, in transaction volu ... Read More
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Debit Cards in Mexico
Debit Cards in Mexico In 2023, debit cards is set to experience robust double-digit growth in volume and value transactions. Moreover, in 2023 it is expected to achieve full recovery, surpassing the performance observed in 2019, in terms of the number of cards in circulation and active accounts. The ... 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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Credit Cards in Argentina
Credit Cards in Argentina Banks in Argentina are grappling with a complex situation as the promotion of credit cards has become less lucrative. The regulated interest rates imposed by the Central Bank have limited the profitability of offering credit cards. Both the interest rate for instalment paym ... Read More
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Pre-Paid Cards in Argentina
Pre-Paid Cards in Argentina Open loop pre-paid cards initially gained significant traction, targeting individuals without a financial history to access traditional credit cards, particularly those in lower socioeconomic levels. However, the momentum of this segment has gradually waned over time. Ear ... Read More
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Debit Cards in Chile
Debit Cards in Chile The latest “National Survey on Cash Usage and Preferences” from Chile’s Central Bank reveals intriguing shifts in payment preferences post-pandemic. In 2022, despite another decline in value, the number of personal cash transactions rebounded to similar pre-pandemic levels, only ... Read More
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Pre-Paid Cards in Indonesia
Pre-Paid Cards in Indonesia The pre-paid cards category has continued its strong performance in 2023, with the category seeing positive growth in terms of both volume and value transactions, as in the previous year. Pre-paid cards has been particularly impacted by the revival of normal social and ec ... 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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Charge Cards in Taiwan
Charge Cards in Taiwan Despite being historically less popular in Taiwan due to limited merchant acceptance compared to VISA, MasterCard, and JCB, American Express (AMEX) is making significant strides in the market. The key to its success lies in the exclusive benefits and privileges offered to card ... Read More
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Debit Cards in Nigeria
Debit Cards in Nigeria While Nigeria still mainly operates with cash, debit cards are the most popular financial card and continue to gain further penetration and in 2023, both number of cards and transaction values are expected to increase, with a double-digit constant value increase in spending. T ... Read More
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Debit Cards in Hong Kong, China
Debit 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’s population to travel abroad after enduring three years of the pandemic. Residents are now showing a strong and sustained interest in reallocating their ... Read More
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Debit Cards in Argentina
Debit Cards in Argentina The high inflation rate in Argentina has led to a significant increase in the use of debit cards. The government has refrained from printing higher denomination bills, and the highest available denomination is ARS2000, roughly equivalent to USD8 at the official exchange rate ... Read More
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