Market Research Report
Payments Landscape in Portugal: Opportunities and Risks to 2022
|Published by||GlobalData||Product code||604399|
|Published||Content info||48 Pages
Delivery time: 1-2 business days
|Payments Landscape in Portugal: Opportunities and Risks to 2022|
|Published: February 19, 2019||Content info: 48 Pages||
Cash remains the most preferred mode of consumer payments in Portugal, accounting for more than half of the overall payment transaction volume in 2018. However, the share of cash payments has been declining over the past five years, with the rising popularity of electronic payments supported by government initiatives and improved payment infrastructure.
The average number of monthly card payments in Portugal stood at 6.8 - higher than most of its peers including Switzerland, Luxembourg, Austria, Spain, Germany and Greece. The Portuguese payment card market is mainly driven by debit cards, which accounted for 94.2% of the overall card payments value in 2018. This growth was mainly supported by the rising banked population, with Banco de Portugal - the country's central bank mandating banks to offer basic bank accounts at a minimal cost.
To further encourage banking penetration, banks are also expanding their reach to remote locations via mobile banking branches, as well as digital channels. Due to the introduction of instant payments in 2018, restrictions on cash transactions, a cap on the interchange fee and the increased adoption of contactless technology, electronic payment usage is set to surge over the forecast period (2018e-22f).
The report "Payments Landscape in Portugal: Opportunities and Risks to 2022", report provides detailed analysis of market trends in Portuguese cards and payments industry allowing banks and card issuers to identify segment dynamics and competitive advantages. It provides values and volumes for a number of key performance indicators in the industry, including cash, credit transfers, direct debits, cards, and cheques during the review-period (2014-18e).
The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2018e-22f). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes, details of regulatory policy and recent changes in the regulatory structure.
The report provides top-level market analysis, information and insights into the Portuguese cards and payments industry, including -