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Press Release

Sep 25, 2020 11:23 UTC

Portugal Cards and Payments Market Report 2020: Trends, Opportunities and Risks Analysis 2015-2023 - ResearchAndMarkets.com

DUBLIN--(Business Wire)--The "Portugal Cards and Payments - Opportunities and Risks to 2023" report has been added to ResearchAndMarkets.com's offering.

Portugal Cards and Payments - Opportunities and Risks to 2023 report provides detailed analysis of market trends in the Portugal's cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, cards, credit transfers, cheques, and direct debits during the review-period (2015-19e).

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 (2019e-23f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together the publisher'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.

This report provides top-level market analysis, information and insights into the Portugal's cards and payments industry, including:

  • Current and forecast values for each market in the Portugal's cards and payments industry, including debit and credit cards.
  • Detailed insights into payment instruments including cash, cards, credit transfers, cheques, and direct debits. It also, includes an overview of the country's key alternative payment instruments.
  • E-commerce market analysis .
  • Analysis of various market drivers and regulations governing the Portugal's cards and payments industry.
  • Detailed analysis of strategies adopted by banks and other institutions to market debit and credit.

Scope

  • The rising adoption of contactless payments during the review period drove overall card payments. According to Banco de Portugal (the country's central bank) 38% of all cards in circulation and 74% of POS terminals incorporated contactless technology in 2018. To capitalize on the growing popularity, banks such as Banco BPI, Santander, Caixa Geral de Depsitos (CGD), Novo Banco, and Millennium bcp now offer contactless cards. In addition, to promote contactless payments during the ongoing COVID-19 pandemic, the central bank increased the contactless payment limit from 20 ($22.45) to 50 ($56.14) as of March 25, 2020.
  • The digital channel is gaining prominence among Portuguese customers. Consequently, banks such as Novo Banco, Millennium bcp, and Santander enable consumers to open bank accounts through digital channels. In September 2019, Portugal-based Banco BNI Europa partnered with integrated digital platform provider ITSCREDIT to launch an online credit card, which can be ordered online or via mobile app, eliminating the need to fill in physical documents.
  • Banks are expanding their reach to remote locations via mobile banking branches. For instance, CGD launched its vehicular mobile banking branch in July 2017. When parked in a particular location it provides services such as debit and credit card issuance as well as information on products and services. The bank introduced two more mobile banking branches: one in Castelo Branco (in February 2018) and one in Portalegre (in September 2018). As of June 2019 these three branches covered over 52 locations across various districts.

Companies Mentioned

  • Banco de Portugal
  • Caixa Geral de Depsitos
  • Millennium bcp
  • Banco BPI
  • Santander
  • Visa
  • Mastercard
  • PayPal
  • Apple Pay
  • Google Pay

For more information about this report visit https://www.researchandmarkets.com/r/f7nbop

ResearchAndMarkets.com
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