Credit Card Transactions

Consumer mobility is evolving as urbanisation, sustainability and growing technological savviness are driving demand for travel supported by dynamic payment solutions. Euromonitor International introduces the Digital Payments in Mobility Index to…

Credit cards are also benefitting from the ongoing government and finance industry efforts to promote a cashless payment society. As such, we are seeing a robust performance in credit cards in 2023, thanks to a growing awareness among consumers about…

Credit card transactions continue to exhibit triple-digit current value growth in 2023, aligning with the extremely high inflation rate in Turkey. The rising number of credit cards and transactions is primarily driven by the influx of new consumers…

Credit cards in the US is set to continue to see robust growth by all measures in 2023. While inflation in the country has generally been at lower levels than in the extreme outlier year of 2022, prices have still grown considerably, and some US…

In 2022, there was double-digit growth in terms of credit card spending for both personal and commercial credit cards. High inflation and the rising cost of living, which have also been affecting Britons in 2023, were amongst the main causes. In…

The credit cards category in the United Arab Emirates is set to experience strong growth by all measures in 2023, fuelled by a combination of favourable economic conditions, evolving consumer preferences, and the adoption of new technologies. The…

According to the Credit Card Association of the Philippines (CCAP), the Q1 2023 growth rate in credit cards, the highest since the outbreak of the Coronavirus (COVID-19) pandemic in 2020, reflects local consumers’ resurgence in terms of shopping,…

In the Netherlands, credit card usage is on the rise, despite starting from a relatively small base. The key catalyst for this growth in 2023 is the resurgence of outbound travel. While travel experienced rapid growth in 2022, 2023 marked a further…

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,…

Thai consumers have been spending more on credit cards in 2023 in line with an increase in the consumer confidence index and a marked improvement in the Thai economy. Expenditure on various products and services, including shopping, restaurants,…

At the close of 2022, Taiwan witnessed a significant reshuffle in its credit card issuance landscape. The top five credit card issuers, ranked by the number of active cards, were Cathay United Bank with 5.77 million, CITIC Bank with 5.34 million, E…

After the pandemic, there has been much pent-up demand for activities which were restricted, including going out and travelling abroad. Also, many Swedes managed to make significant savings during COVID-19 and have been able to spend more…

The buy now, pay later (BNPL) trend has taken hold in Spain, particularly among younger consumers, and is rapidly gaining share in Spain. Consumers choose BNPL for a variety of reasons, including the lower APR (in most cases 0%, as opposed to 18% for…

In 2022, the relaxation of pandemic-related restrictions, including the easing of social distancing rules, heralded a significant shift in local consumers’ behaviour. With a newfound freedom to venture outdoors, a growing number of individuals opted…

As more middle-income households are struggling to reach month-end, due to the combined effects of rising interest rates, which have put pressure on existing vehicle and mortgage loans, as well as inflationary pressures, which have affected…

Credit card transactions in Singapore have sustained considerable growth in both total retail value and transaction volume, owing to the resurgence of the travel industry in Asia Pacific. This revival of travel has become the key growth driver for…

Credit cards are not as popular as debit cards in the Kingdom of Saudi Arabia, however, the category still shows a fair performance. One main issue which credit cards face in the KSA is a question mark around their compliance with Sharia Law.…

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…

After a robust rise in 2022, credit cards continues to enjoy positive growth in 2023, boosted by local consumers’ increasing expenditure and higher levels of penetration. However, and in contrast to 2022, in 2023 credit cards is seeing slower growth…

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…