DUBLIN–(BUSINESS WIRE)–The «Portugal Cards and Payments – Opportunities and Risks to 2024» report has been added to ResearchAndMarkets.com’s offering.
This report provides detailed analysis of market trends in the Portuguese cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including ash, 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 market shares of issuers and schemes.
The report brings together 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 Portuguese cards and payments industry, including:
- Current and forecast values for each market in the Portuguese cards and payments industry, including debit and credit 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 Portuguese cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.
- The rising adoption of contactless payments during the review period drove overall card payments. According to Banco de Portugal the number of contactless cards and contactless POS terminals increased 27.5% and 20.7% respectively in 2019 compared to 2018. In 2019, contactless card payments accounted for 7.8% of total card payment volume and 3% of total value. To capitalize on the growing popularity, banks such as Banco BPI, Santander, Caixa Geral de Depositos (CGD), Novo Banco, and Millennium bcp offer contactless cards. Meanwhile, to promote contactless payments during the COVID-19 pandemic, the central bank increased the contactless payment limit from €20 ($22.45) to €50 ($56.14) in March 2020.
- To further promote the uptake and use of electronic payments, in 2020 the central bank announced the National Strategy for Retail Payments 2020-2022. As part of the strategy, the central bank intends to migrate all payment cards and POS terminals in the country to contactless within this period. The bank is also planning to introduce a new law that will mandate merchants to accept at least one electronic method of payment. In addition, the bank plans to promote instant payments in the country by allowing fund transfers using mobile phone numbers, email addresses, civil identification numbers, and tax identification numbers instead of bank account numbers.
- Alternative payments are gaining prominence in the country, with a number of international and domestic payment methods now offered. In November 2020, Google launched its payment solution Google Pay in Portugal. The solution allows in-store, online, and in-app payments. In the same month, the Lydia payment solution was launched in Portugal. The solution enables users to make online, in-app, and in-store payments as well as P2P fund transfers to other Lydia users. Previously, Apple Pay was launched in Portugal in June 2019. It allows users with Apple devices to make online, in-app, and in-store purchases.
Key Topics Covered:
- Market Overview
- Payment Instruments
- Card-based Payments
- E-Commerce Payments
- Alternative Payments
- Job Analysis
- Payment Innovations
- Payment Infrastructure & Regulation
- Millenium BCP
- Novo Banco
- Banco BPI
- Apple Pay
- Google Pay
For more information about this report visit https://www.researchandmarkets.com/r/13oczq
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