Portugal Cards and Payments: Opportunities and Risks to 2029

The ‘Portugal Cards and Payments: Opportunities and Risks to 2029' report provides detailed analysis of market trends in the Portugal 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 (2020-24e).

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 (2025f-29f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together the analyst’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.

The 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.
• Ecommerce 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.
• Comprehensive analysis of consumer attitudes and buying preferences for cards.
• The competitive landscape of the Portuguese cards and payments industry.

Key Highlights

• In September 2023, Banco de Portugal unveiled the National Strategy for Retail Payments 2025. This strategy, building upon the 2022 National Strategy for Retail Payments, is designed to contribute to the provision of secure, efficient, and innovative payment solutions in Portugal. Specifically, the new strategy seeks to enhance outreach and transparency for payment service users, encourage innovation and efficiency in alignment with technological advancements and evolving consumer demands, improve the security and usability of payment solutions for individuals and businesses, and ensure the resilience and sustainability of payment services and systems. The National Strategy for Retail Payments 2025 will direct the efforts of various stakeholders in the payments market through to the end of 2025.
• The European Central Bank (ECB) and regional central banks are actively engaged in the development of the Digital Euro. This initiative has progressed into the preparatory phase, commencing in November 2023, with an anticipated continuation through to October 2025. The Banco de Portugal's involvement in this venture has been bolstered by the support of the Portuguese Digital Euro Market Advisory Group. The primary objective of this group is to collate insights from various stakeholders regarding the principal design and distribution strategies for a digital euro, as well as to explore the potential benefits that a digital euro may offer to participants in the Portuguese payment market, including consumers, merchants, payment service providers, and payment acceptance infrastructure providers.
• Contactless payment options in transportation are being rolled out in Portugal’s public transport system. In 2024, the UbiRider Platform on Terceira Island in the Azores, Portugal, enhanced public transportation with contactless payments via bank cards, smartphones, and smartwatches, including Apple Pay and Google Pay. The PICK app offers Mobility as a Service (MaaS); allowing users to plan trips, pay fares, and access real-time bus information. The system uses Android smartphones for onboard payments and provides real-time data to optimize services. In November 2024, the transport company Carris started accepting contactless payments on buses, trams, and one of three elevators in Lisbon.

Scope

• Card market size in terms of number of cards, value and volume of transactions in the Portugal along with detailed card segmentation of debit, and credit cards available in the country.
• Market sizing and analysis of major payment instruments including cash, cards, credit transfers, direct debits, and cheques.
• Payment market trends and growth for both historical and forecast period
• Competitor analysis with detailed insights into leading card issuers and schemes.
• Comprehensive analysis of consumer attitudes and buying preferences for cards.
• A detailed snapshot of country's key alternative payment brands.

Reasons to Buy

• Make strategic business decisions, using top-level historic and forecast market data, related to the Portugal cards and payments industry and each market within it.
• Understand the key market trends and growth opportunities in the Portugal cards and payments industry.
• Assess the competitive dynamics in the Portugal cards and payments industry.
• Gain insights into marketing strategies used for various card types in Portugal.
• Gain insights into key regulations governing the Portugal cards and payments industry.