Category: Service Industries
Service Industries market research reports by Euromonitor International
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Debit Cards in Israel
Debit Cards in Israel In 2023, Israel experienced a notable surge in debit card usage as more individuals opted to pay with credit cards instead of cash. The number of debit cards in circulation increased remarkably. Furthermore, the volume of transactions using debit cards witnessed an increase in ... Read More
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Store Cards in Denmark
Store Cards in Denmark Store cards continue to lose popularity in Denmark, with the number of cards in circulation expected to fall slightly, with total transaction value falling significant. This is in spite of rising inflation. Store cards have not kept up with technology innovations and this is l ... Read More
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Debit Cards in Hungary
Debit Cards in Hungary With the merger of Takarékbank and MKB Bank, a new financial service provider was formed, MBH Bank. MBH Bank leads in the personal and commercial segments, including current accounts and debit cards, and is especially dominant in smaller towns and villages where Takarékbank wa ... Read More
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Consumer Lending in Morocco
Consumer Lending in Morocco While Morocco saw dynamic demand for consumer lending immediately post-pandemic as retailers and foodservice outlets reopened their doors to consumers, from September 2022 the market has been impacted by soaring prices impacting purchasing power across households. This tr ... Read More
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Consumer Lending in Peru
Consumer Lending in Peru Consumer lending has sustained notable growth in 2023, albeit at a more tempered pace compared to the robust expansions witnessed in the preceding years. This growth encompasses both the outstanding balance and gross lending, surpassing pre-pandemic levels experienced in 202 ... Read More
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Consumer Lending in Nigeria
Consumer Lending in Nigeria Gross consumer lending is expected to register growth in 2023, but with inflation continuing to be very high, it will not go far in terms of consumer spending. A new government has implemented some difficult decisions in order to stabilise the economy, including ending a ... Read More
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Financial Cards and Payments in Argentina
Financial Cards and Payments in Argentina The credit card business has become less lucrative for banks, primarily serving as a means to entice customers to deposit their salaries into banking institutions. The prevalent monthly inflation in Argentina has soared to alarming levels. Banks face the obl ... Read More
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Consumer Credit in Norway
Consumer Credit in Norway Consumer credit is enjoying a more prosperous year in 2023 than was expected, as the Norwegian economy remains resilient in the face of high inflation. The rate of inflation has reduced slightly in 2023, but it is still much higher than the 2% target. Interest rates have be ... Read More
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Consumer Credit in Morocco
Consumer Credit in Morocco Morocco’s latest unemployment data exhibits a rise to almost 13% in the first three months of 2023, from just over 12% over the same period last year, as the farming sector shrunk due to the worst drought in decades, directly affecting the sector’s demand for workers. Unem ... Read More
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Credit Cards in Greece
Credit Cards in Greece In 2023, credit cards are experiencing growth in terms of the number of cards, volume, and value of transactions. After a prolonged period of recovery from the Greek financial crisis of the previous decade, credit cards have found a stable position in the Greek market, albeit ... Read More
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Charge Cards in Hong Kong, China
Charge Cards in Hong Kong, China There has been a decline in the number of high net worth individuals (HNWI) in Hong Kong since 2020. In response, charge card operators such as American Express and Diners Club are determined to customise their latest offers to better cater for this shrinking client ... Read More
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Consumer Credit in Canada
Consumer Credit in Canada In 2023 the Bank of Canada has tweaked its prime interest rate several times. The impact on the housing market has been a rise in household mortgage debt. Consumers with variable rate mortgages or on the cusp of renewals have been struck especially hard. Euromonitor Interna ... Read More
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Consumer Credit in Turkey
Consumer Credit in Turkey The year 2023 witnessed a decline in the number of consumers obtaining personal consumer credit. As Inflation and the cost of living remained high, consumers relied on cash withdrawals from credit cards when they needed small sums of money. This shift in consumer behaviour ... Read More
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Debit Cards in Norway
Debit Cards in Norway Debit cards are the most popular types of card payment in Norway and face little threat from credit cards or other types of financial card payments in 2023. Around one-half of all payment cards in Norway are debit cards, generating more than 80% of transactions. During the pand ... Read More
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Pre-Paid Cards in Colombia
Pre-Paid Cards in Colombia In 2023, the number of pre-paid cards in circulation is expected to grow steadily. Closed loop pre-paid cards, particularly transportation cards, will remain the most important. This growth is driven by increased mobility as hybrid work schemes lose traction. Transportatio ... Read More
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Credit Cards in Taiwan
Credit Cards in Taiwan At the close of 2022, Taiwan witnessed a significant reshuffle in its credit card issuance landscape. The top five credit card issuers, ranked by the number of active cards, were Cathay United Bank with 5.77 million, CITIC Bank with 5.34 million, E Sun Bank with 4.69 million, ... Read More
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Charge Cards in Israel
Charge Cards in Israel The increasing prevalence of charge cards issued by non-bank entities in 2023 is significantly impacting the usage of charge cards. The convenience and security offered by digital wallets pose a threat to credit card usage. The rapid growth of e-wallets in Israel, with approxi ... Read More
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Consumer Credit in Italy
Consumer Credit in Italy Consumer credit registered positive, albeit modest growth in terms of gross lending and outstanding balance values in Italy in 2023, as ongoing economic uncertainty led many consumers to retain a conservative approach towards borrowing. While the rate of inflation fell durin ... Read More
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Credit Cards in Japan
Credit Cards in Japan Credit card is the leading cashless payment method in Japan, and is still responsible for the predominant share of cashless payment transaction volumes and value. Other digital payment instruments are also gaining popularity, but credit cards remain the most widely used. Commer ... Read More
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Charge Cards in Hungary
Charge Cards in Hungary Only commercial charge cards are available in Hungary in 2023, with personal charge cards no longer available. Moreover, commercial charge cards are only offered to top corporate executives and senior managers and there are no indications that this situation will change. The ... Read More
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Debit Cards in Egypt
Debit Cards in Egypt The Central Bank of Egypt reported a noteworthy 15% overall growth in the total number of electronic cards in Egypt by the end of 2022. Specifically, the number of debit cards in the market witnessed a substantial 12% growth. The government's ongoing financial inclusion efforts ... Read More
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Credit Cards in Hungary
Credit Cards in Hungary The loan repayment moratorium for vulnerable borrowers, including credit card owners, to cope with the negative economic consequences of the COVID-19 pandemic was extended to the end of 2022, but was not renewed in 2023. Meanwhile, high interest rates, competitive products/se ... Read More
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Credit Cards in Chile
Credit Cards in Chile Credit cards in Chile are undergoing a fascinating transformation, driven by the increasing digitalisation of consumer finance. A surge in digital transactions, including via credit and debit card operations, has led to a significant shift towards cashless payments. Additionall ... Read More
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Debit Cards in Denmark
Debit Cards in Denmark Denmark is mostly a cashless country, and debit cards continue to be the most popular payment method, both in terms of number of transactions and total transaction value, The number of cards is only expected to increase slightly in 2023, as the market is saturated, and already ... Read More
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Debit Cards in Morocco
Debit Cards in Morocco Driven by population growth and continued urbanisation, the number of debit cards in Morocco continues to soar. Traditionally, local consumers show a strong preference for using debit cards thanks to the safety and reliability of paying with existing money rather than borrowed ... Read More
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