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...
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...
The COVID-19 pandemic had a fairly limited impact on Norway’s financial cards and payments industry over the course of 2020. The main reason for this is that Norway’s official response to the pandemic was relatively moderate in comparison with what was seen in most other European countries. Financial Cards and Payments in Norway report...
The main impact of the COVID-19 pandemic on the Dutch financial cards and payments industry during 2020 was a major shift away from the use of cash as a payment method. Although the Netherlands was already moving away from the use of cash prior to the onset of the COVID-19 situation, an acceleration of the shift away from cash and towards...
Banks and other financial institutions in the United Arab Emirates have been impacted by the strict measures in place to limit the spread of COVID-19 in 2020. The Central Bank of the UAE directed banks to replenish ATMs with new banknotes and to ensure sufficient cash availability during the salary payment cycle. Financial Cards and...
The most important impact of the COVID-19 pandemic on Ukraine’s financial cards and payments industry during 2020 was a substantial decrease in transactions of value and volume across all categories as consumer spending slumped over the course of the year. As the pandemic situation unfolded, key sectors of the Ukrainian economy faced a lengthy...
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,...
Germany Cards and Payments - Opportunities and Risks to 2024 Summary ‘Germany Cards and Payments - Opportunities and Risks to 2024’ report provides detailed analysis of market trends in the German cards and payments industry. It provides values and volumes for a number of key performance indicators...
France Cards and Payments - Opportunities and Risks to 2024 Summary ’France Cards and Payments - Opportunities and Risks to 2024’ report provides detailed analysis of market trends in the French cards and payments industry. It provides values and volumes for a number of key performance indicators...
Hong Kong Cards and Payments - Opportunities and Risks to 2024 Summary ’Hong Kong Cards and Payments - Opportunities and Risks to 2024’ report provides detailed analysis of market trends in the Hong Kong cards and payments industry. It provides values and volumes for a number of key performance indicators...