Estonia Cards and Payments - Opportunities and Risks to 2027

Abstract

GlobalData's 'Estonia Cards and Payments: Opportunities and Risks to 2027' report provides detailed analysis of market trends in the Estonian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cards, credit transfers, and cash during the review-period (2019-23e).

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 (2023e-27). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together GlobalData's research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.

The report provides top-level market analysis, information and insights into the Estonian cards and payments industry, including -

• Current and forecast values for each market in the Estonian cards and payments industry, including debit, credit and charge cards.
• Detailed insights into payment instruments including cards, credit transfers, and cash. It also, includes an overview of the country's key alternative payment instruments.
• Ecommerce market analysis.
• Analysis of various market drivers and regulations governing the Estonian cards and payments industry.
• Detailed analysis of strategies adopted by banks and other institutions to market debit, credit, and charge cards.
• Comprehensive analysis of consumer attitudes and buying preferences for cards.
• The competitive landscape of the Estonian cards and payments industry.

Scope

• The emergence of contactless technology will further boost card payments in Estonia. According to GlobalData's Payment Cards Analytics, the number of contactless cards in the country increased from 1.1 million in 2019 to 1.9 million in 2023e, at a CAGR of 15%. This figure is set to rise to 2.1 million in 2027. Meanwhile, 66% of card payments made in Estonia in Q1 2023 were contactless, a 9% increase compared with Q1 2022, according to the country's central bank, Eesti Pank.
• The growing popularity of digital-only banks, particularly among millennials, is driving competition in the banking space, helping to boost debit card holding. UK-based Revolut offers Standard, Plus, Premium, and Metal accounts, which come with a debit card. As of April 2023, Revolut had served 65,000 customers in Estonia. Meanwhile, digital-only bank N26 offers N26 Standard, Smart, and Metal accounts to its users along with a debit card. Additionally, it offers N26 Business Standard, Smart, and Metal accounts to its business customers along with a debit card.
• To combat inflation, the European Central Bank (ECB) has raised its key benchmark interest rate. As of June 2023, the rate stood at 4%, up from 2% in October 2022. Rising inflation and interest rates will have a significant adverse impact on purchasing power among consumers, thereby negatively influencing their use of credit and charge cards.

Reasons to Buy

• Make strategic business decisions, using top-level historic and forecast market data, related to the Estonian cards and payments industry and each market within it.
• Understand the key market trends and growth opportunities in the Estonian cards and payments industry.
• Assess the competitive dynamics in the Estonian cards and payments industry.
• Gain insights into marketing strategies used for various card types in Estonia.
• Gain insights into key regulations governing the Estonian cards and payments industry.