Like in most countries, GDP growth in South Korea was negatively impacted by COVID-19 in 2020. Similarly demand for taking on credit and consumer repayment capacity has also been hit hard. However, the decline in consumer payment transaction volume and value was not equally distributed across card, cash and electronic payments. For example, the COVID-19 pandemic led to a considerable shift in the payments landscape away from cash and towards card payment.
Financial Cards and Payments in South Korea report establishes the size and structure of the market for ATMs cards, smart cards, credit cards, debit cards, charge cards, pre-paid cards and store cards. It looks at key players in the market (issuers and operators), number of cards in circulation, numbers transactions and value of transactions. It offers strategic analysis of sector forecasts and trends to watch.
Product coverage: Financial Cards in Circulation, M-Commerce, Transactions.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
Why buy this report? * Get a detailed picture of the Financial Cards and Payments market; * Pinpoint growth sectors and identify factors driving change; * Understand the competitive environment, the market’s major players and leading brands; * Use five-year forecasts to assess how the market is predicted to develop.
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59 pages •
By Euromonitor International
• Dec 2020
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...
66 pages •
By Euromonitor International
• Nov 2020
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...
60 pages •
By Euromonitor International
• Nov 2020
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...
63 pages •
By Euromonitor International
• Nov 2020
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...
64 pages •
By Euromonitor International
• Nov 2020
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...
54 pages •
By Euromonitor International
• Jan 2021
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...
58 pages •
By Euromonitor International
• Dec 2020
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...
52 pages •
By Euromonitor International
• Dec 2020
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...
61 pages •
By Euromonitor International
• Dec 2020
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...
62 pages •
By Euromonitor International
• Dec 2020
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...
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