Dallas, Texas (PRWEB) January 23, 2013
These reports on Financial Cards and Payments in United Kingdom and Norway establishes the size and structure of the market for ATMs cards, smart cards, credit cards, debit cards, charge cards, pre-paid cards and store cards. It looks at key players in the market (issuers and operators), number of cards in circulation, numbers transactions and value of transactions. It offers strategic analysis of sector forecasts and trends to watch.
Payment cards continues to increase its share of the overall United Kingdom payment market, as cash but also other payment instruments such as cheques are losing ground. Debit cards were the big winner in 2012, following an unstable economic environment which continues with little prospect of improving in the near future. The value of debit card transactions reported double-digit growth in 2012, while credit cards showed stagnant growth as consumers focused on reducing debts and not taking on new ones. In this respect, store cards which carry a higher APR were also hit hard. At the same time, lenders tightened their lending criteria and closed dormant accounts and reducing the number of credit cards in circulation.
The European Commission is expected to review the current Payment Services Directive in 2013 and in January 2012 launched a Green Paper entitled Towards an Integrated European Market for Cards, Internet and Mobile Payments, a public consultation of the stakeholders with the aim to identify means to improve integration for card, internet and mobile payments at European level.
The Green Paper aim is to increase integration which could increase competition by facilitating new entrants and competitors from other Member States which could then offer their existing payment solutions in more than one country. However, the response of the UK Card Association to the Green Paper dated April 2012 suggested that the new proposed measures might not be able to achieve the proposed objective. The same opinion was expressed by the European Payments Council. Consequently, for the moment the structure of the new directive remains uncertain.
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Low unemployment and inflation rates distinguish the Norwegian economy from others in the Eurozone and Norwegian consumers continued to enjoy high salaries in 2012. Despite fluctuating economic performance during the review period, there was no downturn in financial card payments and transactions. High living standards are reflected by increasing consumer expenditure, which continues to be strongly linked to consumer finances. Norway Financial cards and payments market recorded positive growth in 2012.
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Product coverage: Financial Cards in Circulation, Transactions.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
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