Market research on the consumer finance industry. Our reports fea...
Market research on the consumer finance industry. Our reports feature standardised and cross-comparable statistics including total market sizes, market share and brand share data, distribution and industry trends.
Financial cards and payments in Mexico in 2023 has been marked by growth, and adaptation to consumer needs. Post-pandemic economic recovery has been playing a pivotal role in boosting card usage and transaction volumes and values. This recovery,…
Financial cards and payments in Malaysia in 2023 exhibited significant continuation with 2022 in terms of the direction of travel in the post-Coronavirus (COVID-19) period. The strong moves towards a cashless society in Malaysia, pushed by the…
Ongoing trends continued to be seen in 2023, with the use of cash declining and the digital transformation of financial cards and payments markets in the region a major theme in Latin America. Be it the Pix instant payments system in Brazil or the…
Japan’s transition to a cashless society has been accelerating in 2023. The Ministry of Economy, Trade and Industry (METI) developed the “Cashless Vision” in 2018, aiming to increase the cashless payment ratio to 40% by 2025. Due to COVID-19,…
Financial cards and payments performed well in Italy in 2023, both in terms of the number of cards in circulation and the value of transactions. Growth was underpinned by the growing trend towards cashless payments, even for smaller amounts, thanks…
In 2023, Israel is experiencing a notable surge in the use of digital wallets, largely driven by the rising number of providers and the inherent convenience they offer. The entry of major players like Apple Pay in late 2021 significantly boosted the…
Electronic payment has been the fastest growing mode of payment in Indonesia in 2023. The very high use of digital wallets, QRIS (Quick Response Code Indonesia Standard - a QR code standard developed by Bank Indonesia and Indonesian Payment System…
A government-led financial inclusion initiative enticed a burgeoning population to embrace the formal banking sector, resulting in further uptake of financial cards, in particular, debit cards, in 2023. The Pradhan Mantri Jan Dhan Yojana (PMJDY)…
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…
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…
The Greek financial card and payments market experienced robust growth in 2022, fuelled by post-pandemic recovery and the impact of inflation. This growth trend persists into 2023, albeit at a slower pace, attributed to the positive economic outlook…
In 2023, financial cards and payments in Germany had to navigate a complex landscape. On the one hand, there was a slow yet steady increase in transactions, particularly in industries such as travel and dining that rebounded as pandemic restrictions…
Financial cards continues its progress in 2023, however, with mixed results. Global inflation continues to create an uncertain economic climate and an increasing price-sensitivity around sales of fast-moving consumer goods (FMCGs), leading to…
Financial cards and payments in Egypt has seen a remarkable year in 2023, characterised by a notable shift from cash to card usage, larger transaction amounts, and a surge in new account openings. Government initiatives to boost financial inclusion…
Financial cards and payments were significantly impacted by Coronavirus (COVID-19) in 2020, with the pandemic still affecting the industry in 2021. However, after the decline in consumer payment transactions value in 2020, a return to positive growth…
In terms of financial cards, Denmark is a saturated market and the number of cards in circulation is not expected to increase significantly across debit, credit, pre-paid or store cards.
The use of debit cards continues to grow strongly in Colombia, supported by increased online purchases and cautious consumer behaviour. While credit card issuance remains stagnant, pre-paid cards, particularly closed loop transportation cards, are…
Financial cards and payments in China is set to see a rebound in 2023, following the lifting of COVID-19 restrictions. Consumers have taken the reopening of society as an opportunity to increase their discretionary spending, particularly in the areas…
2023 has witnessed another marginal rebound in personal cash usage in Chile, despite a further decline in the overall value of this payment type. Cash usage tends to be higher among individuals over 60 years of age, those from lower socio-economic…
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.…
In 2023, Brazil's finance industry is undergoing rapid transformations driven by an expanding banked population, digitalisation, and advancements in open finance. Concurrently, consumers are increasingly turning to credit in the face of adverse…
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…
2023 is witnessing a continuation of some of the key trends from the previous year. Credit card spend remains significant in 2023, despite seeing a marginal decline compared to 2022, and this is largely due to the rising cost of living experienced by…
The use of cash continues to lose out to electronic direct/ACH and card payments in the Asia Pacific region, although paper transactions still remain important in some countries. Digital wallets continue gaining in popularity due to their…
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 Southeast Asian market has evolved to version 2.0, positioning ASEAN as a pivotal component in local and global investors' strategies. With a rising cost of capital amid tightening monetary policies, long-term structural shifts in demographics…
Global cross-border transaction market is projected to exceed USD40 trillion in 2028, largely driven by trading. Fast, low cost and secure became the three key service requirements of embedded cross-border transaction solutions, while local…
Embedded finance is a critical factor in improving the customer journey and driving transformation. Leading embedded finance partners enable non-financial clients to offer diversified financial products and services, with simplified integration,…
Embedded finance is the critical factor to improve customer journey and drive transformation for services industries.. With travel recovery and sluggish volume sales of automotives, embedded finance is considered to have the most potential to build…
Embedded finance has been rapidly evolving from non-digital to digital. If finance is the fuel for the economy, then digital embedded finance is the invisible aviation grade fuel powering jets of digital businesses. Supportive regulations, improving…
From a product perspective, embedded payment market competition has been intensified with digital players, which are challenging the card operators. For deposit and lending, leading banks such as Goldman Sachs and CIMB have made their names in the…
Asia Pacific is a region characterised by diverse economies, cultures and demographics. In such an environment, loyalty programmes need to be crafted to meet local consumers’ preferences. Asia Pacific is facing a turning point where it can no longer…
Benefiting from growing smartphone penetration, supportive regulations and so on, a growing number of digital banks have been launched, challenging the incumbents. However, among all digital banks, less than a quarter are known to be profitable. Key…
Early digital banks in East and South Asia have generated profits. Their success in both developed and emerging markets is a good reference for new digital banks, especially in Southeast Asia. However, a few digital banks in Australia have failed.…
Besides building ecosystem partnerships, banks have to balance between convenience and data privacy and risk control, on alternative data usage. Also, BNPL poses a threat to banks’ growth, if banks do not undertake concrete actions on partnerships…
Discover Financial Services, based in the US, is one of the largest card network operators in the world. The company issues a variety of cards in its home market, while operating three separate types of networks: Discover Network, a primarily credit…
Consumer mobility is evolving as urbanisation, sustainability and growing technological savviness are driving demand for travel supported by dynamic payment solutions. Euromonitor International introduces the Digital Payments in Mobility Index to…
Technological advances are creating unprecedented change across consumer-facing industries. The Digital Consumer Survey, fielded in March and April, offers insight into the pace and depth of this evolution, tracking consumer behaviour, attitudes,…
Cashless payment trends are being boosted by both government and issuer initiatives in Vietnam, along with support from retailers in various industries and channels across the country. This, in turn, is helping to boost the performance of financial…
The COVD-19 pandemic hampered the use of cash in Turkey, with consumers also opting to use a debit card over credit cards in 2023. The availability of contactless debit cards encouraged consumers to use their debit cards for small purchases, while…
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…
In 2023, debit cards remains the preferred and most widely used payment method, increasing from the previous year in terms of the number of cards in circulation, as well as the volume and retail value of transactions. However, this growth is set to…
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…
Debit cards in the Philippines have largely been known and treated as ATM cards only. Prior to the outbreak of Coronavirus (COVID-19), the use of debit cards was primarily for making cash withdrawals. This was because most people were either unaware…
Contactless payments, whether using a debit card or a mobile device linked to a debit card, have become an increasingly popular method of payment at physical merchant locations in the United Kingdom. This surge in popularity can be attributed to the…
Debit cards are generally preferred to credit cards in the Czech Republic. In 2023, debit card transaction growth is being driven by the decline in cash transactions and the growing number of point-of-sale (POS) terminals in retail stores. In 2023,…
The adoption of digital payments in Thailand is growing, backed by the central bank policy to shift towards a less cash-reliant society which is free of charge transactions. The banking industry has launched cardless withdrawals to bring greater…
Debit card transactions experienced a noticeable decline in transaction value in 2022, a trend that commenced during the pandemic in 2021. This decline was primarily attributed to the increased prevalence of digital wallet transactions and the…
Debit cards remain the most popular type of financial card in Sweden in 2023 in terms of the number of cards in circulation, and current value and volume transactions. The popularity of debit cards is attributable to the high share of digital…
Banks in Spain are changing their business strategy, resulting in a decline in the number of debit cards issued in 2023. Whilst customers previously had access to a free debit card if they had other banking products and services, including mortgages…