Portugal Cards and Payments - Opportunities and Risks to 2028

Portugal Cards and Payments - Opportunities and Risks to 2028

Summary

GlobalData’s ‘Portugal Cards and Payments: Opportunities and Risks to 2028' report provides detailed analysis of market trends in the Portuguese cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, cards, credit transfer, direct debits, and cheques during the review-period (2019–23e).

The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2024–28). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together GlobalData’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.

GlobalData’s ‘Portugal Cards and Payments: Opportunities and Risks to 2028' report provides top-level market analysis, information and insights into the Portuguese cards and payments industry, including -

Current and forecast values for each market in the Portuguese cards and payments industry, including debit, credit and charge cards.
Detailed insights into payment instruments including cash, cards, credit transfer, direct debits, and cheques. It also, includes an overview of the country's key alternative payment instruments.
Ecommerce market analysis.
Analysis of various market drivers and regulations governing the Portuguese cards and payments industry.
Detailed analysis of strategies adopted by banks and other institutions to market debit, and credit cards.
Comprehensive analysis of consumer attitudes and buying preferences for cards.
The competitive landscape of the Portuguese cards and payments industry.

Scope

Portugal’s payment acceptance infrastructure is well developed. To promote secure, efficient, and innovative payment solutions in the market, the central bank released a National Strategy for Retail Payments in 2020. A key element of the strategy urged all merchants to offer customers at least one electronic payment method. However, as part of its National Strategy for Retail Payments 2025, the government is proposing making it mandatory for merchants to accept at least one electronic payment method.

According to the European Central Bank’s Study on the payment attitudes of consumers in the euro area, the share of contactless payment volume within all POS card payments in Portugal rose from 24% in 2019 to 45% in 2022. In terms of value, the share increased from 23% in 2019 to 30% in 2022. This has been driven by contactless payment acceptance being integrated into public transport networks. The Lisbon Metro introduced contactless-enabled payment methods in July 2023. Consumers can tap their smartwatch, phone, or contactless payment card at the payment acceptance validator to pay for fares.

The government's National Plan for Financial Education 2021–2025 will help raise financial literacy among younger individuals. The Portuguese Insurance and Pension Funds Supervisory Authority, Banco de Portugal, and the Portuguese Securities Market Commission launched the plan in 2011. It aims to create awareness of traditional products such as bank transfers and payment cards, as well as new innovations such as mobile wallets and instant payments.

Reasons to Buy

Make strategic business decisions, using top-level historic and forecast market data, related to the Portuguese cards and payments industry and each market within it.
Understand the key market trends and growth opportunities in the Portuguese cards and payments industry.
Assess the competitive dynamics in the Portuguese cards and payments industry.
Gain insights into marketing strategies used for various card types in Portugal.
Gain insights into key regulations governing the Portuguese cards and payments industry.