There were reasons to be positive in 2025 in Colombia with interest and inflation stabilising and consumer confidence returning. This provided a boost the number of financial card in circulation as well as leading to an increase in card transactions. Efforts to expand card acceptance, including into rural areas, as well as digitalisation within the market also helped to drive growth. The rollout of Bre-B, Colombia’s new instant payment system, was also seen as significant to the future growth of

Overall, financial cards and payments in the Czech Republic witnessed further growth in cards in circulation and transaction volume and value terms in 2025, albeit at slower rates than in 2024. Moreover, debit cards remained the dominant category, driving growth, along with pre-paid cards, while charge cards and credit cards experienced niche and limited appeal, respectively. Many Czechs owned more than one bank card, as they also had more than one bank account, which supported debit cards. In g

Sweden is widely seen as amongst the candidates to become the world’s first cashless society, despite locals’ concerns about the prospect of losing cash entirely. On the one hand, this is supporting growth in financial card transactions. However, on the other, the number of cards in circulation is declining, partly as a result of less prominent card types losing out to the ongoing shift towards debit cards and partly as a result of the expansion of alternative payment methods, including mobile a

Germany’s financial cards market saw a degree of consolidation in 2025 as consumers increasingly turned to their debit cards for everyday purchases, while issuers looked to streamline their operations. In contrast, the use of credit and charge cards was more task specific, focusing on online purchases, travel and subscriptions. Pre-paid and store cards continued to fall out of favour as the focus shifted to apps and co-branded bank cards.

Financial cards and payments in Chile performed well overall at the end of the review period. The number of financial cards in circulation rose in 2025, supported by Chilean consumers’ increased comfort with digital banking and evolving payments habits towards digital solutions. The expansion in cardholding was supported by a strong demand for debit and pre-paid cards, as well as a recovery in credit card issuance, in part driven by a more stable economic outlook and the increased commercial act

Financial cards and payments saw growth in card numbers, transaction volume sand transaction value in France in 2025. However, the lower rate of inflation reduced the artificial boost to value seen in previous years. Despite the easing of inflation, the end of the review period presented challenging conditions for local consumers, with political instability and economic uncertainty in France, as well as broader geopolitical issues. In 2025, growth in financial cards and payments was largely driv

Mexico’s economy experienced a mild slowdown or stagnation, which began in the last quarter of 2024 and continued into early 2025. Economic growth reached approximately 1.3%, falling significantly short of the annual objective of 4.5% GDP growth. On the inflation front, levels remained stable, and general inflation was expected to return to the 3% target by the third quarter of 2026. In response, Banxico continued to lower its interest rate at each meeting since 2024, reaching 7.75% in its lates

Japan continues to see the expansion of contactless payment options and a broad trend away from the use of cash. Within financial cards, debit cards are proving popular because they minimise the risk of overspending. At the same time, credit cards players are increasingly responding to the challenge of a declining population by targeting premium credit cards and commercial options. Meanwhile, pre-paid cards and store cards face the challenges posed by consumers’ growing demand for payment method

Financial cards and payments in the United Arab Emirates continued to grow in terms of the number of cards in circulation in 2025. Circulation increased in the market due to the expansion of credit, debit and pre-paid cards, which benefited from factors like payroll distribution, digital wallets and cashless payment adoption. Travel and tourism recovery and a heavy daily reliance on transportation and retail pre-paid cards, such as Road & Transport Authority (RTA)’s Nol card, further boosted car

Financial cards and payments in China expanded in 2025, with debit cards driving growth in both cards in circulation and transactions as financial inclusion progressed and digital wallets largely relied on linked debit accounts. Credit cards and pre-paid cards declined further as consumers shifted to real-time app payments and as tighter oversight, including new rules on prepaid consumption disputes, raised compliance pressure. Credit card asset quality improved as banks strengthened monitoring

After a bumpy two years, financial cards and payments in the UK stabilised in 2025, but remained volume-led, with modest transaction values outpacing cards in circulation. Headline inflation hovered near the target for much of the year, and policy rates began to ease, helping normalise day-to-day spending. The effect was most evident in more frequent, lower-value transactions. Consumers tapped for coffees, transport and top-up grocery runs rather than consolidating purchases. As a result, transa

Brazil is seeing financial cards expand in terms of card numbers and transaction value. The popularity of credit cards, supported by the offer of payment in interest-free instalments, is proving key to this growth. However, financial cards are facing increasing competition from alternative payment methods, including Pix, which significantly extended its appeal through innovation towards the end of the review period.

Transactions and the number of cards in circulation in Australia increased in 2025, as debit cards become the preferred payment method and cash payments declined post-pandemic. Meanwhile, credit card use is declining as local consumers increasingly prefer lower-risk options, such as Buy Now, Pay Later.

The financial cards and payments landscape in India is evolving rapidly, with 2025 marked by notable developments in terms of more segmented consumer use of particular payment methods. For example, local consumers continued to move smaller transactions to electronic transactions like UPI, while debit cards were primarily used for mid-value purchases and ATM withdrawals.

Financial cards and payments in Singapore witnessed a rise in the number of financial cards in circulation in 2025. This can be partly attributed to the broader expansion of financial services in the market, which saw significant growth across banking and payments-related activities. As digital payment adoption deepened and financial institutions expanded their offerings, more consumers were drawn into the formal financial ecosystem. The Monetary Authority of Singapore (MAS) reported that the fi

The trend away from cash payments continued in Austria in 2024. This was mainly in favour of debit cards, especially the Mastercard Debit brand which is a standard payment card for Austrian consumers for all possible occasions. A strong driver towards cards is the increasing social acceptance of card payments for the even small amounts, which is closely linked to the popularity of contactless payment. The use of cards via mobile wallets, such as Apple Pay or Google Pay, has further contributed t

Despite a steady increase in real GDP growth in 2024, South African households still faced financial challenges. This struggle was highlighted by persistently high unemployment rates, which remained above 30%, forcing over 20% of households to rely on social grants. The challenges were exacerbated by a prolonged 15-year high interest rate, resulting in many mid-income families finding it increasingly difficult to repay asset-backed debts, such as mortgages, due to shrinking disposable incomes. H

Consumer lending in Morocco is expected to maintain growth in both gross lending and the outstanding balance in 2024. Increases are anticipated for all types of lending, although card lending and durables lending are set to see the strongest increases. Key players seeking to remain relevant have been rapidly adapting their offer with an innovative, wider range of products, characterised by simpler, more flexible lending terms and conditions, such as Bugshan Automative Group’s tailored auto lendi

2024 was yet another big year for financial cards and payments in the US. Two major stories dominate the overall big picture for the US at the opening of 2025 – the continued fight against inflation, and the new Trump Administration taking the reins. Inflation has been a long-standing concern for several years now, but 2024 saw inflation finally getting closer to a semi-normal level. While inflation still held above the target rate of the US Federal Reserve, it slowed down enough that the bank f

Following a period of significant disruptions, 2024 emerged as the most stable year for financial cards and payments in Denmark in a long time. The review period was marked by major upheavals, including the COVID-19 pandemic, which temporarily altered spending and payment habits, followed by a rebound as Danes returned to familiar patterns. The post-pandemic surge in foreign spending and other pent-up demand was compounded by the inflationary effects of the Russian invasion of Ukraine, leading t

As Nigeria slowly moves toward a cashless society, demand for financial cards and digital payment solutions continues to rise. The industry has benefited from government efforts to boost financial inclusion through initiatives like Afrigo, a domestic card scheme set to compete with other card operators due to its convenience and affordability, as well as the rapid expansion of payment infrastructure like POS machines. In addition, rising concerns over fraud have resulted in more households shift

The commercial payment reconciliation market is evolving driven by payment firms, banks and business software vendors. Currently, the sector focuses on driving penetration of virtual products while leveraging ERP/accounting integration. Emerging technologies such as blockchain, AI will leapfrog development in transparency, security and automation, reducing human intervention. Also, data quality has to be improved and standardised. Furthermore, digital payment diversity and SME inclusion are chal

Financial card and payment transactions in Turkey continued to witness steady growth in 2024. Card spending strengthened as consumers switched away from cash amid greater dependability on credit cards due to rising living costs. High inflation, economic uncertainty and ongoing retail price instability encouraged some consumers to rely on credit cards, although soaring interest rates were a deterrent for some in 2024. Consumers have become more reliant on credit cards due to the growth in retail

Financial cards and payments in Israel saw a rise in local adoption of digital wallets in 2024. Digital wallets have rapidly gained traction, experiencing substantial growth since the introduction of Apple Pay and Google Pay in 2021. Many consumers now rely on their smartphones for payments, often leaving their physical wallets at home. This shift is driven by the convenience offered by digital wallets, particularly for transactions exceeding ILS300, where a code is required when using a physica