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Payment Cards in Spain
Datamonitor, March 2011, Pages: 137
Introduction
Payment Cards in Spain is a guide to one of Europe's largest payment card markets. The report provides statistics on market size, competitor market shares and forecasts. It also provides an overview of regulations, competitor activities, issuer strategy, product innovation, consumer segmentation and includes developments in contactless, mobile, and online payments as well as prepaid cards.
Features and benefits
- Detailed market sizing, competitor shares and forecasts are an invaluable guide for any cards player building a business case for activity in Spain.
- In-depth insight into contactless, mobile, prepaid and online payments highlights future opportunities for all industry stakeholders.
- Detailed analysis of consumer segmentation allowing issuers to target consumer segments with knowledge of their behavior and wants.
- Detailed analysis of Spain's regulatory framework assists potential market entrants in understanding current and possible future legislation.
Highlights
- Spain has a strong, developed payments card market, although the country was adversely affected by the global economic downturn. The total number of payment cards in Spain grew at a compound annual growth rate (CAGR) of 3.5% over 2005–09, up from 65.4 million cards in 2005 to 75.2 million cards in 2009 having decreased by 2.4% on the previous year.
- Spanish banks dominate the issuing landscape and are split into three distinct pillars: commercial banks, Cajas and co-operatives. Competition in the payment card market changed drastically in 2010 when savings banks (cajas) were forced to consolidate from 45 entities to just 17 reducing the number of options for credit consumers.
- Alternative payments show strong potential in Spain but presently all forms are at an early stage. Prepaid cards have great potential but the market is underdeveloped with few in circulation. Contactless and mobile on the other hand are almost totally absent in Spain with only pilots and a few small scale ad hoc programs in universities running.
Your key questions answered
- Which card segments are showing the fastest growth in the Spanish payments market and why?
- Who are the key players in Spain and what is their market share?
- How do Spanish and EU regulatory changes impact the payment cards sector?
- How extensive are mobile and contactless payments and where does future growth lie?
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