Category: Service Industries
Service Industries market research reports by Euromonitor International
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Debit Cards in Austria
Debit Cards in Austria Debit card transactions remained the main driver behind the shift from cash to card payments in 2023. Every bank account holder in Austria owns at least one debit card, which is heavily favoured for payments at the POS, with debit card consumers confident that there are no ext ... Read More
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Pre-Paid Cards in Austria
Pre-Paid Cards in Austria Closed loop pre-paid card transactions in Austria are essentially merchant-issued gift cards, and demand for these continued to increase in 2023. In a time of persistently high inflation with increased prices of essentials such as food and petrol, gift cards became popular, ... Read More
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Store Cards in Austria
Store Cards in Austria Store cards remained a niche in Austria in 2023, continuing a downward trend with a double-digit decline in transaction values despite the continuing shift to card payments. Most consumers in Austria are unfamiliar with store cards, and the usage of revolving credit in payment ... Read More
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Store Cards in the US
Store Cards in the US As in so many cases, perhaps the biggest story for store cards in the US in 2023 has been the twin forces of high inflation and high interest rates. While inflation has crept down over the course of 2023 in the US, the price increases that have resulted remain significant, and ... Read More
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Debit Cards in the US
Debit Cards in the US Fraud has hit debit cards hard in the US in recent years. Significant increases in card not present fraud have been recorded in the market in 2023, and are a legitimate concern for those in the financial industry. A significant threat to card usage has been the growth of card s ... Read More
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Charge Cards in Austria
Charge Cards in Austria Driven by a shift from cash to card payments, boosted by the outbreak of COVID-19 and the continuing recovery of travel, charge cards saw solid growth in transaction and value terms. However, growth was at a slower pace compared to credit and debit cards, with debit cards hav ... Read More
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Charge Cards in the US
Charge Cards in the US Charge cards as a whole has been performing well in 2023, and it is expected to continue to grow beyond pandemic lows. Consumer spending in 2023 has driven payments across all card types, with the return to travel remaining an important storyline – a significant area of streng ... Read More
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Financial Cards and Payments in the US
Financial Cards and Payments in the US The biggest news of 2023 has been administrative, with the Federal Reserve fighting inflation and the threat of recession. With inflation well above recent norms in 2022, the Fed spent roughly 18 months in a constant dance of deciding whether to continue raisin ... Read More
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Pre-Paid Cards in the US
Pre-Paid Cards in the US 2023 is likely to go down as the first generally “normal” year of the 2020s. While 2022 saw most companies return to at least some form of hybrid working, the emergence of the Omicron variant early in the year had a significant effect on the overall health of the nation. 202 ... Read More
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Financial Cards and Payments in Austria
Financial Cards and Payments in Austria Although cash transactions continued to play a strong role in Austria, a clear shift from cash to card payments continued in 2023. The outbreak of COVID-19 in Austria further accelerated the change, with consumers appreciating the contactless form of payment. ... Read More
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Credit Cards in the US
Credit Cards in the US Credit cards in the US is set to continue to see robust growth by all measures in 2023. While inflation in the country has generally been at lower levels than in the extreme outlier year of 2022, prices have still grown considerably, and some US consumers have been forced to r ... Read More
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Financial Cards and Payments in the United Arab Emirates
Financial Cards and Payments in the United Arab Emirates The United Arab Emirates continues its journey towards a cashless society, with the continued adoption of digital payment solutions, contactless cards, and the emergence of supplementary payment platforms or solutions in pre-paid cards that su ... Read More
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Charge Cards in the United Arab Emirates
Charge Cards in the United Arab Emirates Aligned with historical patterns, there is expected to be an ongoing decrease in the number of charge cards in circulation in the United Arab Emirates in 2023, even though transaction value is set to show growth across both the commercial and personal segment ... Read More
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Pre-Paid Cards in the United Arab Emirates
Pre-Paid Cards in the United Arab Emirates Pre-paid cards in the United Arab Emirates is experiencing a surge in innovation and growth, driven by evolving consumer preferences, technological advances, and the increasing popularity of digital payments. Mobile reloading options, such as bank transfers ... Read More
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Debit Cards in the United Arab Emirates
Debit Cards in the United Arab Emirates Contactless payments are becoming increasingly popular in the United Arab Emirates, driven by the convenience and safety they offer. Banks are accelerating the adoption of contactless payment technology, embedding NFC (Near Field Communication) chips into debi ... Read More
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Credit Cards in the United Arab Emirates
Credit Cards in the United Arab Emirates The credit cards category in the United Arab Emirates is set to experience strong growth by all measures in 2023, fuelled by a combination of favourable economic conditions, evolving consumer preferences, and the adoption of new technologies. The continued gr ... Read More
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Consumer Lending in the United Arab Emirates
Consumer Lending in the United Arab Emirates Despite rising inflation, increasing mortgage rates and interest rates, consumer lending in the United Arab Emirates remains buoyant in 2023. The local economy’s recovery and expansion are influencing the momentum of consumer lending, but geopolitical ten ... Read More
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Consumer Credit in the United Arab Emirates
Consumer Credit in the United Arab Emirates Banks in the United Arab Emirates continue to offer attractive card lending offers in 2023. With many credit cards now having appealing credit limits depending on the salary range and credit score of consumers, many banks are offering to convert available ... Read More
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Store Cards in South Korea
Store Cards in South Korea Store cards in South Korea is experiencing a trend of stagnant growth. Despite the enduring appeal of store cards and their unique set of benefits, the growth rates in both 2022 and 2023 feature stabilisation rather than substantial expansion. Hyundai Department Store domi ... Read More
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Credit Cards in South Korea
Credit Cards in South Korea In 2022, the relaxation of pandemic-related restrictions, including the easing of social distancing rules, heralded a significant shift in local consumers’ behaviour. With a newfound freedom to venture outdoors, a growing number of individuals opted to spend their time in ... Read More
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Pre-Paid Cards in South Korea
Pre-Paid Cards in South Korea In 2022, South Korea witnessed growth in both the issuance and usage of pre-paid cards in line with greater mobility outside of the home. Shinhan Card, in particular, played a role in driving this growth, reporting a remarkable increase in the retail selling price (RSP) ... Read More
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Consumer Credit in South Korea
Consumer Credit in South Korea One of the most significant global issues concerning consumer credit is BNPL (Buy Now Pay Later) services, which enable consumers without sufficient funds to make an immediate purchase, locally known as “thin filers”, to obtain goods and pay at a later date. Globally, ... Read More
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Debit Cards in South Korea
Debit Cards in South Korea In 2023, the number of debit cards in circulation in South Korea continues to gradually decline following a steady upward trend over 2019-2021. The decline is primarily underpinned by two fundamental factors; namely the declining teenage population and the surging prominen ... Read More
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Financial Cards and Payments in South Korea
Financial Cards and Payments in South Korea The landscape of card transactions in South Korea is undergoing a remarkable transformation marked by a gradual decline in cash usage. This paradigm shift is primarily driven by the widespread adoption of mobile financial services, a trend that has gained ... Read More
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Consumer Lending in South Korea
Consumer Lending in South Korea Gross consumer lending’s growth is continuing to outperform outstanding balance, driven by card lending, as local consumers spend more with the reopening of society and cross-border travel. However, outstanding balance on card lending (encompassing card purchases and ... Read More
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