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Spain Cards and Payments - Opportunities and Risks to 2024

Summary ’Spain Cards and Payments - Opportunities and Risks to 2024’ report provides detailed analysis of market trends in Spain’s cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, cards, direct debits, credit transfers, and cheques during the review-period (2016-20e).

New York, Dec. 04, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Spain Cards and Payments - Opportunities and Risks to 2024" - https://www.reportlinker.com/p05839823/?utm_source=GNW


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

Scope
- The European payment market is set to witness a new and advanced instant payment solution. On July 2, 2020 a group of 16 European banks from five countries - Spain, Belgium, France, Germany, and the Netherlands - announced the future launch of a European-level instant payment system called European Payments Initiative. The new solution aims to create a unified payment solution for consumers and merchants across Europe, encompassing a payment card and a digital wallet and covering in-store, online, and P2P payments as well as cash withdrawals. Other payment service providers have been invited to join the initiative, which seeks to replace domestic schemes for card, online, and mobile payments with a unified card and digital wallet that can be used across Europe. As it is based on the SEPA Instant Credit Transfer scheme it will benefit from existing infrastructure, such as TARGET Instant Payment Settlement. The initiative’s founding members are BBVA, BNP Paribas, Groupe BPCE, CaixaBank, Commerzbank, Crédit Agricole, Crédit Mutuel, DZ Bank Group, Deutsche Bank, ING Bank, KBC Bank, La Banque Postale, Deutscher Sparkassen- und Giroverband, Santander, Société Générale, and UniCredit. European Payments Initiative is expected to enter the operational stage in 2022.
- To further accelerate financial inclusion in the country, in September 2020 Santander and Correos (the Spanish postal service) signed a deal to offer cash withdrawal and deposit services, as well as cash delivered by post to any address in Spain, starting in Q1 2021. This option will be available to digital customers via the bank’s app; customers can also use their Santander bank card and ID to obtain these services at any of Correos’ 4,675 locations (2,393 post offices and 2,282 rural service points). These services will be free of charge (for up to two transactions a month) for bank customers at Correos locations in areas where the bank is not present. Correos has service locations across several remote locations with fewer than 1,000 inhabitants where the bank is not present. Therefore, Santander will be able to reach individuals who did not previously have access to its services.
- Credit card holders will benefit from the reduction in bank charges. Following a Supreme Court ruling in March 2020 on unreasonably high rates charged on credit cards, several banks in Spain have subsequently reduced APRs. For instance, Bankinter lowered the APR on its Bankintercard to 19.99% (compared to 26.82% previously); Banco Sabadell lowered the APR on its Visa Shopping card to 18.86% (down from 26.82%); and Deutsche Bank reduced the APR on its Visa Shopping DB card to 18.16% (down from 23.87%).

Reasons to Buy
- Make strategic business decisions, using top-level historic and forecast market data, related to Spain’s cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in Spain’s cards and payments industry.
- Assess the competitive dynamics in Spain’s cards and payments industry.
- Gain insights into marketing strategies used for various card types in Spain.
- Gain insights into key regulations governing Spain’s cards and payments industry.
Read the full report: https://www.reportlinker.com/p05839823/?utm_source=GNW

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