Select Country Report
Financial cards and payments in 2024: The big picture
Financial cards and payments continued to rise in Portugal in 2024 as cards and electronic payments continued taking ground from paper. The trend towards for cashless payment solutions has accelerated, largely due to contactless technology and the adoption of smartphones as payment devices.
2024 key trends
Digitalisation is a key trend in the industry, with mobile payments growing rapidly year-after-year. In Portugal, SIBS’ MB Way was the overall leader in mobile payments transactions in 2024.
Regulatory changes impact financial cards and payments ecosystem
As of 1 January 2024, bank customers in Portugal need a card in order to carry out payment operations for services, payments to the government and cell phone recharges through home banking. According to Bank of Portugal, this decision was taken by SIBS and payment services providers, not resulting from any direct imposition by the supervisor, nor from the application of European or national regulations.
Competitive landscape
The competitive landscape for financial cards and payments in Portugal is fierce, with institutions releasing several campaigns through the year to attract clients. Examples include Millennium BCP’s campaign, offering 10% of all grocery purchases made with any Millennium card until March 2025, up to a maximum of EUR30 per month; Santander vouchers with different partners such as Vila Galé hotels and Fnac stores for clients that sign a Santander credit card or Gold credit card, exclusively on the Bank's digital channels, and many others.
What next for financial cards and payments?
The future for financial cards and payments lies in further digitalisation. Contactless and digital wallets will play a rising role in purchases, shaping the payments ecosystem in Portugal and presenting new challenges to businesses.
USD 2,300
Delivery:
Files are delivered directly into your account soon after payment is received and any tax certification is verified (where applicable).
This report comes in PDF.
Overview:
Understand the latest market trends and future growth opportunities for the Financial Cards and Payments industry in Portugal with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Financial Cards and Payments industry in Portugal, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Financial Cards and Payments in Portugal report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Financial Cards and Payments in Portugal?
- What are the major trends key to understanding Financial Cards and Payments in Portugal?
- How has COVID-19, recession and macroeconomic volatility impacted the market?
- How long will the market take to recover? What are the opportunities now?
- How will political context and shifting cultural values shape future growth?
- Where is future growth expected to be most dynamic?
Financial Cards and Payments in Portugal - Industry Overview
Financial cards and payments in 2024: The big picture
2024 key trends
Regulatory changes impact financial cards and payments ecosystem
Competitive landscape
What next for financial cards and payments?
Table 1 Number of POS Terminals: Units 2019-2024
Table 2 Number of ATMs: Units 2019-2024
Table 3 Value Lost to Fraud 2019-2024
Table 4 Card Expenditure by Location 2024
Table 5 Financial Cards in Circulation by Type: % Number of Cards 2019-2024
Table 6 Domestic versus Foreign Spend 2024
Table 7 Financial Cards by Category: Number of Cards in Circulation 2019-2024
Table 8 Financial Cards by Category: Number of Accounts 2019-2024
Table 9 Financial Cards Transactions by Category: Value 2019-2024
Table 10 Financial Cards by Category: Number of Transactions 2019-2024
Table 11 Consumer Payments by Category: Value 2019-2024
Table 12 Consumer Payments by Category: Number of Transactions 2019-2024
Table 13 M-Commerce by Category: Value 2019-2024
Table 14 M-Commerce by Category: % Value Growth 2019-2024
Table 15 Financial Cards: Number of Cards by Issuer 2019-2023
Table 16 Financial Cards: Number of Cards by Operator 2019-2023
Table 17 Financial Cards: Card Payment Transactions Value by Operator 2019-2023
Table 18 Financial Cards: Card Payment Transactions Value by Issuer 2019-2023
Table 19 Forecast Financial Cards by Category: Number of Cards in Circulation 2024-2029
Table 20 Forecast Financial Cards by Category: Number of Accounts 2024-2029
Table 21 Forecast Financial Cards Transactions by Category: Value 2024-2029
Table 22 Forecast Financial Cards by Category: Number of Transactions 2024-2029
Table 23 Forecast Consumer Payments by Category: Value 2024-2029
Table 24 Forecast Consumer Payments by Category: Number of Transactions 2024-2029
Table 25 Forecast M-Commerce by Category: Value 2024-2029
Table 26 Forecast M-Commerce by Category: % Value Growth 2024-2029
DISCLAIMER
Summary 1 Research Sources
Charge Cards in Portugal - Category analysis
KEY DATA FINDINGS
Charge cards suffers from low penetration in Portugal
Number of charge cards declines as Millennium BCP exits category
Charge cards loses ground to credit and debit cards
Charge cards set to remain on declining trend for first half of forecast period
Competitive landscape sees little movement
Santander likely to maintain market leadership
Table 27 Charge Cards: Number of Cards in Circulation 2019-2024
Table 28 Charge Cards Transactions 2019-2024
Table 29 Charge Cards in Circulation: % Growth 2019-2024
Table 30 Charge Cards Transactions: % Growth 2019-2024
Table 31 Commercial Charge Cards: Number of Cards in Circulation 2019-2024
Table 32 Commercial Charge Cards Transactions 2019-2024
Table 33 Commercial Charge Cards in Circulation: % Growth 2019-2024
Table 34 Commercial Charge Cards Transactions: % Growth 2019-2024
Table 35 Personal Charge Cards: Number of Cards in Circulation 2019-2024
Table 36 Personal Charge Cards Transactions 2019-2024
Table 37 Personal Charge Cards in Circulation: % Growth 2019-2024
Table 38 Personal Charge Cards Transactions: % Growth 2019-2024
Table 39 Charge Cards: Number of Cards by Issuer 2019-2023
Table 40 Charge Cards: Number of Cards by Operator 2019-2023
Table 41 Charge Cards Payment Transaction Value by Issuer 2019-2023
Table 42 Charge Cards Payment Transaction Value by Operator 2019-2023
Table 43 Commercial Charge Cards: Number of Cards by Issuer 2019-2023
Table 44 Commercial Charge Cards: Number of Cards by Operator 2019-2023
Table 45 Commercial Charge Cards Payment Transaction Value by Issuer 2019-2023
Table 46 Commercial Charge Cards Payment Transaction Value by Operator 2019-2023
Table 47 Personal Charge Cards: Number of Cards by Issuer 2019-2023
Table 48 Personal Charge Cards: Number of Cards by Operator 2019-2023
Table 49 Personal Charge Cards Transaction Value by Issuer 2019-2023
Table 50 Personal Charge Cards Transaction Value by Operator 2019-2023
Table 51 Forecast Charge Cards: Number of Cards in Circulation 2024-2029
Table 52 Forecast Charge Cards Transactions 2024-2029
Table 53 Forecast Charge Cards in Circulation: % Growth 2024-2029
Table 54 Forecast Charge Cards Transactions: % Growth 2024-2029
Table 55 Forecast Commercial Charge Cards: Number of Cards in Circulation 2024-2029
Table 56 Forecast Commercial Charge Cards Transactions 2024-2029
Table 57 Forecast Commercial Charge Cards in Circulation: % Growth 2024-2029
Table 58 Forecast Commercial Charge Cards Transactions: % Growth 2024-2029
Table 59 Forecast Personal Charge Cards: Number of Cards in Circulation 2024-2029
Table 60 Forecast Personal Charge Cards Transactions 2024-2029
Table 61 Forecast Personal Charge Cards in Circulation: % Growth 2024-2029
Table 62 Forecast Personal Charge Cards Transactions: % Growth 2024-2029
Credit Cards in Portugal - Category analysis
KEY DATA FINDINGS
Credit cards expands amid declining interest rates and rising consumer confidence
Intense competition shapes market trends
Sonae and Bankinter Consumer Finance join forces
Credit cards faces bright future in Portugal
New players anticipated to emerge, intensifying competition
BNPL will have a greater impact on category development during forecast period
Table 63 Credit Cards: Number of Cards in Circulation 2019-2024
Table 64 Credit Cards Transactions 2019-2024
Table 65 Credit Cards in Circulation: % Growth 2019-2024
Table 66 Credit Cards Transactions: % Growth 2019-2024
Table 67 Commercial Credit Cards: Number of Cards in Circulation 2019-2024
Table 68 Commercial Credit Cards Transactions 2019-2024
Table 69 Commercial Credit Cards in Circulation: % Growth 2019-2024
Table 70 Commercial Credit Cards Transactions: % Growth 2019-2024
Table 71 Personal Credit Cards: Number of Cards in Circulation 2019-2024
Table 72 Personal Credit Cards Transactions 2019-2024
Table 73 Personal Credit Cards in Circulation: % Growth 2019-2024
Table 74 Personal Credit Cards Transactions: % Growth 2019-2024
Table 75 Credit Cards: Number of Cards by Issuer 2019-2023
Table 76 Credit Cards: Number of Cards by Operator 2019-2023
Table 77 Credit Cards Payment Transaction Value by Issuer 2019-2023
Table 78 Credit Cards Payment Transaction Value by Operator 2019-2023
Table 79 Commercial Credit Cards: Number of Cards by Issuer 2019-2023
Table 80 Commercial Credit Cards: Number of Cards by Operator 2019-2023
Table 81 Commercial Credit Cards Payment Transaction Value by Issuer 2019-2023
Table 82 Commercial Credit Cards Payment Transaction Value by Operator 2019-2023
Table 83 Personal Credit Cards: Number of Cards by Issuer 2019-2023
Table 84 Personal Credit Cards: Number of Cards by Operator 2019-2023
Table 85 Personal Credit Cards Payment Transaction Value by Issuer 2019-2023
Table 86 Personal Credit Cards Payment Transaction Value by Operator 2019-2023
Table 87 Forecast Credit Cards: Number of Cards in Circulation 2024-2029
Table 88 Forecast Credit Cards Transactions 2024-2029
Table 89 Forecast Credit Cards in Circulation: % Growth 2024-2029
Table 90 Forecast Credit Cards Transactions: % Growth 2024-2029
Table 91 Forecast Commercial Credit Cards: Number of Cards in Circulation 2024-2029
Table 92 Forecast Commercial Credit Cards Transactions 2024-2029
Table 93 Forecast Commercial Credit Cards in Circulation: % Growth 2024-2029
Table 94 Forecast Commercial Credit Cards Transactions: % Growth 2024-2029
Table 95 Forecast Personal Credit Cards: Number of Cards in Circulation 2024-2029
Table 96 Forecast Personal Credit Cards Transactions 2024-2029
Table 97 Forecast Personal Credit Cards in Circulation: % Growth 2024-2029
Table 98 Forecast Personal Credit Cards Transactions: % Growth 2024-2029
Debit Cards in Portugal - Category analysis
KEY DATA FINDINGS
Debit cards does well in 2024
Caixa Geral de Depósitos maintains leadership of national debit cards
Fierce competitive environment shapes market landscape
Debit cards set to see further growth during forecast period
Caixa Geral de Depósitos and SIBS as largest players
Revolut expected to enter debit cards market over 2025
Table 99 Debit Cards: Number of Cards in Circulation 2019-2024
Table 100 Debit Cards Transactions 2019-2024
Table 101 Debit Cards in Circulation: % Growth 2019-2024
Table 102 Debit Cards Transactions: % Growth 2019-2024
Table 103 Debit Cards: Number of Cards by Issuer 2019-2023
Table 104 Debit Cards: Number of Cards by Operator 2019-2023
Table 105 Debit Cards Payment Transaction Value by Issuer 2019-2023
Table 106 Debit Cards Payment Transaction Value by Operator 2019-2023
Table 107 Forecast Debit Cards: Number of Cards in Circulation 2024-2029
Table 108 Forecast Debit Cards Transactions 2024-2029
Table 109 Forecast Debit Cards in Circulation: % Growth 2024-2029
Table 110 Forecast Debit Cards Transactions: % Growth 2024-2029
Pre-Paid Cards in Portugal - Category analysis
KEY DATA FINDINGS
Pre-paid cards posts positive results over 2024
Revolut - a rising star
Transportation payments see expanding connectivity
Pre-paid cards likely to fall during forecast period
Growing acceptance will bolster employee benefit cards
Revolut offer expanding with expected shift to other card payment categories
Table 111 Pre-paid Cards: Number of Cards in Circulation 2019-2024
Table 112 Pre-paid Cards Transactions 2019-2024
Table 113 Pre-paid Cards in Circulation: % Growth 2019-2024
Table 114 Pre-paid Cards Transactions: % Growth 2019-2024
Table 115 Closed Loop Pre-paid Cards Transactions 2019-2024
Table 116 Closed Loop Pre-paid Cards Transactions: % Growth 2019-2024
Table 117 Open Loop Pre-paid Cards Transactions 2019-2024
Table 118 Open Loop Pre-paid Cards Transactions: % Growth 2019-2024
Table 119 Pre-paid Cards: Number of Cards by Issuer 2019-2023
Table 120 Pre-paid Cards: Number of Cards by Operator 2019-2023
Table 121 Pre-paid Cards Transaction Value by Issuer 2019-2023
Table 122 Pre-paid Cards Transaction Value by Operator 2019-2023
Table 123 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2019-2023
Table 124 Closed Loop Pre-paid Cards: Number of Cards by Operator 2019-2023
Table 125 Closed Loop Pre-paid Cards Transaction Value by Issuer 2019-2023
Table 126 Closed Loop Pre-paid Cards Transaction Value by Operator 2019-2023
Table 127 Open Loop Pre-paid Cards: Number of Cards by Issuer 2019-2023
Table 128 Open Loop Pre-paid Cards: Number of Cards by Operator 2019-2023
Table 129 Open Loop Pre-paid Cards Transaction Value by Issuer 2019-2023
Table 130 Open Loop Pre-paid Cards Transaction Value by Operator 2019-2023
Table 131 Forecast Pre-paid Cards: Number of Cards in Circulation 2024-2029
Table 132 Forecast Pre-paid Cards Transactions 2024-2029
Table 133 Forecast Pre-paid Cards in Circulation: % Growth 2024-2029
Table 134 Forecast Pre-paid Cards Transactions: % Growth 2024-2029
Table 135 Forecast Closed Loop Pre-paid Cards Transactions 2024-2029
Table 136 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2024-2029
Table 137 Forecast Open Loop Pre-paid Cards Transactions 2024-2029
Table 138 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2024-2029
Store Cards in Portugal - Category analysis
KEY DATA FINDINGS
Transaction value rises while number of cards declines
El Corte Inglés as only issuer to see number of cards increase
Oney’s Auchan cards discontinued to new clients
Store cards set to decline throughout forecast period
El Corte Inglés as future category leader?
Strong competition from credit alternatives limits growth potential
Table 139 Store Cards: Number of Cards in Circulation 2019-2024
Table 140 Store Cards Transactions 2019-2024
Table 141 Store Cards in Circulation: % Growth 2019-2024
Table 142 Store Cards Transactions: % Growth 2019-2024
Table 143 Store Cards: Number of Cards by Issuer 2019-2023
Table 144 Store Cards: Payment Transaction Value by Issuer 2019-2023
Table 145 Forecast Store Cards: Number of Cards in Circulation 2024-2029
Table 146 Forecast Store Cards Transactions 2024-2029
Table 147 Forecast Store Cards in Circulation: % Growth 2024-2029
Table 148 Forecast Store Cards Transactions: % Growth 2024-2029
The following categories and subcategories are included:
Financial Cards and Payments
-
- ATM Cards
-
- Commercial Charge Cards
- Personal Charge Cards
-
- Commercial Credit Cards
- Personal Credit Cards
-
- Commercial Debit Cards
- Personal Debit Cards
-
- Closed Loop Pre-Paid Cards
- Open Loop Pre-Paid Cards
- Store Cards
-
-
- ATM Transactions
-
-
- Commercial Charge Card Transactions
- Personal Charge Card Transactions
-
- Commercial Credit Card Transactions
-
- Average Personal Credit Card Balance
- Average Personal Credit Card Limit
- Personal Credit Card Utilisation
-
- Commercial Debit Card Transactions
- Personal Debit Card Transactions
-
- Closed Loop Pre-Paid Card Transactions
- Open Loop Pre-Paid Card Transactions
- Store Card Transactions
-
-
- Commercial Card Payment Transactions
- Commercial Electronic Direct/ACH Transactions
- Commercial Paper Payment Transactions
-
- Personal Card Payment Transactions
- Personal Electronic Direct/ACH Transactions
- Personal Paper Payment Transactions
-
-
- Commercial Electronic Direct/ACH Transactions
- Personal Electronic Direct/ACH Transactions
-
-
- Commercial Cash Transactions
- Commercial Other Paper Transactions
-
- Personal Cash Transactions
- Personal Other Paper Transactions
-
-
-
-
-
- Mobile Proximity Payments
- Mobile Remote Payments
-
Financial Cards and Payments
Payments are tracked based on the country of residence / account issuance and include outbound spend while excluding inbound spend.
See all of our definitions
Share:
Why buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Financial Cards and Payments research and analysis database.
NEW REPORT GUARANTEE
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!