Credit Card Transactions

The number of personal credit cards in circulation has been falling over the review period. Due to the high interest rates on credit cards, some consumers are paying off balances and closing credit card accounts. This trend can also be linked to the…

Banks in Argentina are grappling with a complex situation as the promotion of credit cards has become less lucrative. The regulated interest rates imposed by the Central Bank have limited the profitability of offering credit cards. Both the interest…

In 2023, credit cards in Germany witnessed a nuanced recovery characterised by a notable and consistent increase in transaction volume and value. As the nation emerged from pandemic-induced restrictions, industries such as travel and dining -…

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,…

Credit card is the leading cashless payment method in Japan, and is still responsible for the predominant share of cashless payment transaction volumes and value. Other digital payment instruments are also gaining popularity, but credit cards remain…

Amidst the ongoing economic challenges in Egypt, ranging from currency devaluation to inflation and restricted overseas transactions, credit cards have gained substantial traction. The reliance on credit cards is expected to surge further in the…

Credit cards in India witnessed healthy demand in 2023 as consumers looked to bridge their income gap through smart spending. The adoption of credit cards further increased during the year, primarily as responsibilities in the form of expenditure…

The resumption of daily routines as the country emerges out of the Coronavirus (COVID-19) crisis has sparked spending on both personal and commercial credit cards. In 2023, the number of commercial credit cards in circulation is rebounding, following…

While the number of credit cards in 2023 is well below the peak seen pre-pandemic in 2019, credit card transaction are witnessing record levels in 2023. Credit card transaction surged in 2022, fuelled by the return to offline retailers and a return…

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…

While the number of cards in circulation is expected to remain stable, with only a marginal increase, there is expected to be a double-digit increase in total transaction values. This is largely explained by inflation, particularly as the spend on…

Despite a decline in the number of cards in circulation, credit cards in Italy registered dynamic growth in terms of both number of transactions and transaction value in 2023, continuing the trend of the previous year. This was driven by the growing…

Credit cards are also benefitting from the ongoing government and finance industry efforts to promote a cashless payment society. As such, we are seeing a robust performance in credit cards in 2023, thanks to a growing awareness among consumers about…

At the close of 2022, Taiwan witnessed a significant reshuffle in its credit card issuance landscape. The top five credit card issuers, ranked by the number of active cards, were Cathay United Bank with 5.77 million, CITIC Bank with 5.34 million, E…

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…

In 2023, credit cards are experiencing growth in terms of the number of cards, volume, and value of transactions. After a prolonged period of recovery from the Greek financial crisis of the previous decade, credit cards have found a stable position…

Credit card transactions continue to exhibit triple-digit current value growth in 2023, aligning with the extremely high inflation rate in Turkey. The rising number of credit cards and transactions is primarily driven by the influx of new consumers…

After the pandemic, there has been much pent-up demand for activities which were restricted, including going out and travelling abroad. Also, many Swedes managed to make significant savings during COVID-19 and have been able to spend more…

In early 2023, the Israeli government is set to mandate Discount Bank to divest its credit card business, Visa Cal, aiming to enhance competition within the credit card market. This move will introduce a new player to the credit market, fostering a…

The loan repayment moratorium for vulnerable borrowers, including credit card owners, to cope with the negative economic consequences of the COVID-19 pandemic was extended to the end of 2022, but was not renewed in 2023. Meanwhile, high interest…