Eastern Europe

2023 is offering a more promising outlook for cooking ingredients and meals in Georgia than was seen in 2022, when the industry suffered from soaring costs across packaging, raw materials, and logistics. A standout in this scenario is the edible oils…

Cooking ingredients and meals continued to expand in both volume and value terms in Estonia in 2023. This is attributable to the popularity of food and cooking blogs that promote products, Estonians spending less time on cooking, and a greater focus…

After declining in 2022, overall retail volume sales of cooking ingredients and meals in Croatia are set to increase moderately in 2023. This recovery is partly explained by the gradual easing of inflationary pressures linked to the global recovery…

Most product areas within cooking ingredients and meals maintained positive value, despite a decline in volume. This decline can be attributed to the significant inflation experienced in the previous year, the resulting growth in retail prices, and…

2023 was a year of stable, modest retail volume growth and strong double-digit retail value growth in current terms for cooking ingredients and meals in Bosnia and Herzegovina as high inflation and subsequent significant unit price growth all of…

Pre-paid cards continued to perform well in 2023, with the number of cards in circulation rising steadily and transaction values registering double-digit growth. Digital solutions are performing well in pre-paid cards with Revolut, for example, using…

Pre-paid cards are experiencing significant growth in 2023, encompassing a surge in the number of cards in circulation, the volume of transactions, and their overall value. This surge is primarily attributed to the remarkable growth potential…

Against the backdrop of double-digit inflation in Poland, employees are increasingly interested in non-wage benefits that can help mitigate the rising cost of living. Many companies are responding to this pressing need by expanding the range of…

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…

Cash remains an important mode of payment in the Czech Republic, especially in rural areas, although modernisation is driving growth in financial cards and payments. The expansion of POS terminals in retail stores is driving financial card…

Romania lags behind in financial inclusion compared to other nations, showcasing a lower uptake of basic financial services, primarily due to a trifecta of factors: low financial literacy levels, a significant grey economy, and a widespread…

Financial cards and payments in Poland is undergoing substantial change with the continued increase in non-cash transactions in 2023. Card operators are focused on providing access to a variety of payment methods so that the consumer and merchant can…

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…

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,…

Online payments have seen a significant surge in popularity, continuing through 2023, with an increasing number of e-commerce transactions being finalised through online payment methods. Electronic direct transfers and ACH (Automated Clearing House)…

Debit cards have been gaining importance as a payment method in Poland since the COVID-19 pandemic, when many consumers switched to cashless transactions as a way of minimising the risk of coming into contact with the COVID-19 virus. In 2023, the…

With the merger of Takarékbank and MKB Bank, a new financial service provider was formed, MBH Bank. MBH Bank leads in the personal and commercial segments, including current accounts and debit cards, and is especially dominant in smaller towns and…

The growth in credit card transactions is slowing down as a result of persisting inflation and escalating consumer prices, prompting a return to higher levels of budget-consciousness and financial uncertainty. Economic instability has led to reduced…

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…

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…