Opportunities and Risks in the Belgium Cards and Payments Market to 2024, Featuring Belfius Bank, KBC Bank, Klarna, ING Bank and Credit Mutuel Bank – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The «Belgium Cards and Payments – Opportunities and Risks to 2024» report has been added to ResearchAndMarkets.com’s offering.

The report provides detailed analysis of market trends in the Belgian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, cards, credit transfers, direct debits, and cheques during the review-period (2016-20e).

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 (2020e-24f). It also offers information on the country’s competitive landscape, including the 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 details of regulatory policy and recent changes in the regulatory structure.

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

  • Current and forecast values for each market in the Belgian cards and payments industry, including debit, credit and charge cards.
  • Detailed insights into payment instruments including cash, cards, credit transfers, direct debits, and cheques. 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 Belgian cards and payments industry.
  • Detailed analysis of strategies adopted by banks and other institutions to market debit, credit and charge cards.

Scope

  • The government is taking steps to increase the use of digital payments in Belgium. Belgian financial federation Febelfin (in collaboration with its payment partners and trade federations) launched Belgium’s first Digital Payment Day on May 11, 2019. The initiative aims to increase financial awareness and knowledge among Belgians and encourages consumers to make digital payments. The initiative also aims to enable more merchants to accept digital payments. Via the Digital Payment Day website, Febelfin offers information for merchants regarding the best digital payment method for their business, as well as providing consumers with information on various digital payment solutions. Digital payments in Belgium are being supported by increasing use of mobile wallets including Apple Pay, Google Pay, and PayPal as well as the Payconiq by Bancontact app.
  • Digital-only banks are gradually making inroads into the Belgian banking and debit card space. In February 2020, digital-only bank Aion launched in Belgium. The bank offers a multi-currency debit card, enabling users to make card payments and ATM withdrawals with no currency conversion costs. Meanwhile, international digital-only banks are making their way into Belgium. In October 2019, Netherlands-based digital-only bank bunq expanded its services across European countries including Belgium. Apart from a debit card, consumers are also offered a credit card and a Mastercard Travel Card (a credit card that eliminates foreign transaction fees for payments in foreign currencies). NiCKEL – the digital bank owned by BNP Paribas – plans to launch its operations in Belgium in the first quarter of 2022.
  • Banks are counting on digital channels to tap into new customer bases. In November 2020, KBC Bank launched AI-based chatbot Kate for its customers in Belgium. The chatbot supports both chat and voice assistance to provide banking services to KBC customers, including assistance regarding money transfers and insurance documentation. Meanwhile, bpost bank allows individuals to open an account online. Individuals confirm their identity using their electronic identity card and fill in their personal details.

Key Topics Covered:

  • Payment Instruments
  • Card-based Payments
  • Ecommerce Payments
  • Buy Now Pay Later
  • Mobile Proximity Payments
  • P2P Payments
  • Bill Payments
  • Alternative Payments
  • Job Analysis
  • Payment Innovations
  • Payment Infrastructure & Regulation

Companies Mentioned

  • BNP Paribas Fortis
  • Belfius Bank
  • KBC Bank
  • Credit Mutuel Bank
  • ING Bank
  • Bancontact
  • Visa
  • Mastercard
  • American Express
  • PayPal
  • Klarna
  • Payconiq
  • Google Pay
  • SafetyPay
  • Apple Pay
  • paysafecard

     

For more information about this report visit https://www.researchandmarkets.com/r/ju0ce1

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