Cash in Slovenia remains the dominant payment instrument, accounting for 54.0% of the overall transaction volume in 2017. However, following concentrated efforts by Slovenian banks …
Luxembourg: a mature market with high card penetration
Payment cards are the preferred payment instrument in Luxembourg, accounting for 52% of the total payment transaction volume in 2017. Banking penetration in Luxembourg is …
Japan: Olympics and other initiatives to challenge cash dominance
Cash dominance in Japan is being challenged, yet it still accounts for 78.1% of the overall payment volume in 2017. Yet with government initiatives to …
Greece: economy shows signs of recovery following the eurozone crisis
Greece was severely affected by the eurozone crisis, due to government overspending, tax evasion and a budget deficit that spiralled out of control. Many banks faced …
Czech Republic: Card use rises as consumer preference shifts
Cash remains the preferred method of consumer payment in the Czech Republic, accounting for 65.9% of total transaction volume in 2017. Consumers generally use cash …
Kenya: Consumer attitudes and limited acceptance restrict card use
Kenya’s payment card market is still very much in a developmental stage. The East African nation recorded a penetration rate of 30 cards per 100 …
Finland: Improved infrastructure and awareness bolster card use
Finnish consumers are strong users of payment cards, with frequency of card use higher in Finland than in other mature European markets such as the …
Portugal: Consumer prudence favours debit card transactions
Portugal’s banking sector was badly affected by the economic crisis. Amid growing debt and falling profitability, banks were forced to close operations, triggering mergers and …
The Philippines: Cash continues to dominate, despite strong card growth
Cash remains, by a very considerable margin, the most popular consumer payment instrument in the Philippines, and accounted for 99.5% of the country’s total payment …
Nigeria: Moves to increase the banked population begin to take effect
Use of cash for consumer payments remains highly prevalent among Nigerians, especially for the country’s large rural population. This is primarily a result of a …