Financial payments in the Netherlands are increasingly dominated by card payments as consumers favour this method due to its ease of use and safety. This comes at the expense of cash payments, which Dutch consumers are dropping rapidly. This trend is being driven by the increasingly common contactless debit cards, with the contactless function...
Card payments continue to rise in the United Arab Emirates, with consumers using both cards as well as contactless payment methods to make payments more frequently and for smaller transactions. Economic indicators remain positive, with rising real GDP and low unemployment and inflation rates. While there was a spike in inflation in 2018 following...
Although cash transactions remained extremely popular in Austria in 2019, retail value for this form of payment declined for the first time since 2014, while total card and electronic direct/ACH transactions increased further. Cash retains a high emotional value for Austrian consumers and the concept of a cashless society is unpopular. Financial...
Financial card transactions have posted healthy growth over recent years, following the government’s demonetisation initiative in November 2016, supported by the ongoing financial inclusion drive. Huge numbers of new bank accounts have been opened under the Pradhan Mantri Jan Dhan Yojana initiative in semi-urban and rural areas, many new debit...
Financial cards and payments posted continued growth in many categories in 2019. The government’s policy of supporting a favourable environment for financial cards drives increasing transactions and consumers’ habit of making transactions via financial cards is well established. Financial Cards and Payments in South Korea report establishes...
Although Vietnam still remains largely a cash society, financial cards continues to record strong growth rates. Many people living in urban areas are still in the habit of using cash, especially for low-value daily transactions. In many rural areas, there are virtually no retailers that can accept cards. It is common for Vietnamese people...
Financial cards and payments in Egypt continued to perform positively in 2019, despite facing challenges, such as relatively low card penetration rates, underdeveloped payment infrastructure, a large rural population and the strong presence of traditional retailers in the country. The market as a whole benefited as banks increased the geographical...
2019 saw further strong growth recorded in financial cards and payments in Israel, although much of this growth was due to the significant uptake of debit cards among the population. Credit cards and pre-paid cards each recorded negative growth over the course of the year. In the case of credit cards, this was mainly due to the preference...
Consumer payment transactions continued to be dominated by the use of cash in the Philippines in 2019 due to the high proportion of unbanked population, although the government is determined to double the banked population by 2023. Financial Cards and Payments in Philippines report establishes the size and structure of the market for...
The implementation of the Nigerian government’s cashless policy, which limits the amount of cash that can be withdrawn in a day from a deposit money bank in the country, boosted demand for debit card transactions for cash at ATMs and card payments at merchants’ points of sale in 2019. Financial Cards and Payments in Nigeria report establishes...