Category: Service Industries
Service Industries market research reports by Euromonitor International
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Debit Cards in Italy
Debit Cards in Italy The enduring consumer preference for debit cards over credit cards continued throughout 2023, with the former accounting for the more than 10 times the value of the latter in terms of transactions. Such cards are easy to obtain in Italy, as well as having low associated costs. F ... Read More
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Pre-Paid Cards in Saudi Arabia
Pre-Paid Cards in Saudi Arabia Pre-paid cards are benefitting from the Kingdom’s move towards a cashless society – especially so in certain areas. For example, as seen with the uptake of pre-paid cards for the payment of workers’ salaries, notably so for domestic workers. In this case, the Kingdom h ... Read More
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Store Cards in Italy
Store Cards in Italy Store cards continued to register a negative performance in 2023, in terms of both the number of cards in circulation and the value of transactions, continuing the trend established during the review period. This was due to strong competition from other financial card types and ... Read More
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Consumer Lending in Greece
Consumer Lending in Greece The growth of gross lending in consumer lending for 2023 is moderate and slower than what was anticipated a year ago. Factors such as surging inflation, an escalating energy crisis exacerbated by the Russian invasion of Ukraine (with its effects fully realised in 2023), an ... Read More
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Charge Cards in Italy
Charge Cards in Italy Charge cards continued to register a healthy performance in 2023, with a rise in the number and value of transactions. This was linked to the growing popularity of cashless transactions, as consumers become increasing confident about making digital payments over cash. The retur ... Read More
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Credit Cards in Thailand
Credit Cards in Thailand Thai consumers have been spending more on credit cards in 2023 in line with an increase in the consumer confidence index and a marked improvement in the Thai economy. Expenditure on various products and services, including shopping, restaurants, tourism, travel, and petrol h ... Read More
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Credit Cards in Saudi Arabia
Credit Cards in Saudi Arabia Credit cards are not as popular as debit cards in the Kingdom of Saudi Arabia, however, the category still shows a fair performance. One main issue which credit cards face in the KSA is a question mark around their compliance with Sharia Law. Essentially, with regards to ... Read More
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Charge Cards in Norway
Charge Cards in Norway Charge cards is a niche category in the Norwegian financial cards and payments landscape where debit cards and credit cards dominate. in 2023, debit and credit cards combined accounted for 95% of card payment transactions with little room for charge cards solutions. Charge car ... Read More
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Credit Cards in France
Credit Cards in France Consumer credit is facing a number of challenges in France, to the extent the French Association of Financial Companies is reported to have called credit in 2023 a “serious cold snap”. As such, credit difficulties also affect the performance of credit cards. Euromonitor Intern ... Read More
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Charge Cards in Indonesia
Charge Cards in Indonesia In 2023, the charge cards category has experienced positive growth, both in terms of volume and value transactions. Similarly to the previous year, growth has largely been driven by the revival of normal social and economic activity in the wake of the COVID-19 crisis, with ... Read More
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Consumer Credit in Mexico
Consumer Credit in Mexico Consumer credit is set to show continued consistent robust growth in gross lending in 2023, driven by improving employment and business performance, and wages that continue to recover in the wake of the pandemic. However, growth will encounter limitations, due to the constr ... Read More
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Pre-Paid Cards in Hungary
Pre-Paid Cards in Hungary In January 2023, the previously separate pockets - accommodation, hospitality and leisure - were consolidated; therefore, the charges associated with these sectors are now aggregated and considered together. Also, in order to expedite the use of remaining funds, two additio ... Read More
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Credit Cards in Indonesia
Credit Cards in Indonesia In 2023, the credit cards category is again showing positive growth in all terms, cards circulation as well as volume and value transactions, as it did in the previous year. Credit card spending has recovered across categories. Holidays and the end of the year are the main ... Read More
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Credit Cards in Colombia
Credit Cards in Colombia In 2023, the issuance of credit cards is expected to remain almost flat, with no significant increase. Growth rates for the number and value of transactions are also expected to decelerate compared to the previous year. The value of transactions, particularly for personal cr ... Read More
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Credit Cards in Nigeria
Credit Cards in Nigeria Most banks perceive credit cards as high risk due to experiencing frequent default rates in the past. As such, credit cards continue to be relatively scarce in Nigeria, with mainly high net-worth individuals owning credit cards. Also, due to the instability of the naira, many ... Read More
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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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