The COVID-19 pandemic had a relatively limited use on the use of financial cards in Morocco during 2020. This mainly because cash remains the payment method used for the vast majority of transactions in the country. For this reason, the Moroccan population reacted to the announcement of the quarantine lockdown during late March by flocking...
The emergence of the pandemic and subsequent lockdown measures introduced by the government in an attempt to control the spread of the virus had a significant impact on transaction value across consumer payment transactions in 2020, due to price sensitivity amongst many South Africans as result of rising unemployment and decreasing disposable...
COVID-19 has had a significant impact on both consumers and merchants in Indonesia in 2020. Large-scale social restrictions and social distancing (PSSB measures) have resulted in a sharp decline in spending on everything but essential items, while travel and entertainment charges have also been hard hit with tourism largely suspended for much...
After steady growth throughout the review period, total card transactions in Canada is expected to record its first volume and value declines on records in 2020 as a direct result of the severe financial and economic impacts of the Coronavirus (COVID-19) epidemic. All financial cards are set to suffer falling values and charge cards and store...
In 2020, the economic ramifications of COVID-19 resulted in an abrupt reversal of the decade-long GDP growth in Germany. An important element of GDP, and therefore similarly impacted, is consumer expenditure by resident households, which, in turn, translated into an unprecedented decline in consumer payments. However, the decline in consumer...
The COVID-19 dynamic had a strong impact on all categories of financial cards and payments during 2020. In general, consumer spending was under pressure for much of the year as many households sought to avoid all unnecessary spending due to the hostile and uncertain economic environment that unfolded over the course of the year. This suppressed...
Overall consumer expenditure in Romania has been negatively impacted by the COVID-19 outbreak and consequent widespread decline in demand for services, tourism and foodservice throughout the country. Consumer payments were already shifting away from cash before the pandemic, in line with ongoing technological development and rising demand...
Numerous interesting trends emerged in Peru’s financial cards and payments industry as a result of the COVID-19 pandemic during 2020. The most important and influential of these trends was the substantial shift seen away from the use of cash and towards the use of financial cards in general. This trend needs to be assessed within the context...
Overall consumer expenditure in Austria has been negatively impacted by the COVID-19 outbreak and consequent widespread decline in demand for services, tourism and foodservice throughout the country. Consumer payments were already shifting away from cash before the pandemic, in line with ongoing technological development and rising demand...
Taiwan moved swiftly to contain COVID-19 and this appears to have paid dividends with far fewer cases and deaths recorded compared to comparable-sized markets. As such, the government has not felt compelled to introduce such strict restrictions as seen elsewhere, with this allowing consumers to spend more freely. Nonetheless, overall transactions...