Category: Service Industries
Service Industries market research reports by Euromonitor International
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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 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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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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Pre-Paid Cards in Egypt
Pre-Paid Cards in Egypt Amid a concerted government focus on financial inclusion and extensive banking initiatives tailored to citizens of all age groups, the category of pre-paid cards remains on a robust growth trajectory within the Egyptian financial market. The successful proliferation of pre-pa ... Read More
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Consumer Credit in Malaysia
Consumer Credit in Malaysia In 2021 and 2022, many local consumers used personal loans when faced with unplanned expenses or a personal financial emergency. Malaysian banks were very active in offering personal loans to individuals, providing flexible repayments and offering longer repayment terms w ... 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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Consumer Credit in Saudi Arabia
Consumer Credit in Saudi Arabia Other personal lending continues to be an area of interest in Saudi Arabia, as this category primarily constitutes personal loans taken for medical purposes and travelling. This has been particularly prominent since the end of pandemic restrictions heralded the reviva ... Read More
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Debit Cards in Indonesia
Debit Cards in Indonesia In 2023, the debit cards category has again experienced positive growth in both volume and value transactions, as it did in the previous year. The increase in people’s mobility following the lifting of restrictions imposed to limit the spread of COVID-19 has been the main re ... Read More
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Credit Cards in Morocco
Credit Cards in Morocco Morocco is a country heavily reliant on cash, with consumers historically favouring debit cards to any other types of financial cards; standard credit cards continue to suffer from a negative perception among locals for several reasons. The demand for credit cards remains rel ... Read More
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Charge Cards in Argentina
Charge Cards in Argentina Charge cards represent a diminishing segment within the payment industry, primarily due to their inability to provide financing options. Consumers increasingly favour credit cards over charge cards when making purchases, further contributing to the decline of this segment. ... Read More
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