In 2025, there is continuing growth in financial card usage in Romania, supported by a rapid shift towards digital payments and driven by mandatory merchant acceptance, rising e-commerce, and a strong preference for debit cards. However, cash remains common, particularly in rural areas.

Cards in circulation in the Philippines increased in 2025, with growth driven by credit and debit cards as banks and digital players expanded issuance through app-based onboarding, bundled accounts and government-linked programmes. Credit card acquisition strengthened as issuers improved servicing and launched lifestyle-led products, while debit cards moved further into everyday spending as digital banks promoted cashless use cases. Fintech momentum added new entry points to formal credit, inclu

In 2025, the financial card landscape in Poland is characterised by a high adoption of contactless technology, and the popularity of the local mobile payment service BLIK. The payment landscape is also shifting from traditional physical cards to mobile wallets and instantaneous transactions.

There is a continuing shift away from cash and to financial cards in Peru in 2025. In particular digital payments are growing in popularity, driven by the massive adoption of interoperable mobile wallets like Yape and Plin.

Financial cards and payments witnessed strong growth in 2025 spearheaded by the government’s push towards a cashless society and legislative changes requiring bank accounts to be linked with VNeID, the country’s national digital ID system. A raft of promotional offers have been used to encourage regular and heavier use of financial cards, often tying into broader campaigns such as Cashless Day 2025. Rapid growth in e-commerce is also playing a key role, with online payments for goods and service

Financial cards are performing strongly in Saudi Arabia, with e-commerce and point-of-sale transactions seeing noteworthy year-on-year development. From the beginning of this year, credit card borrowing has remained high, just below record levels, supported by ongoing digital transformation. This growth is connected to the expanding digital economy and the push for a cashless society, driven by government initiatives, technological advancements, and a growing preference for digital payments amon

The Spanish economy was in relatively good shape and saw a robust performance in 2025, though signs of moderation were emerging. Its performance was better than the average in the Eurozone, despite still high inflation rates and continuous pressure from high energy prices. 2025 was marked by strong private consumption, in part due to increases in prices on key products, and the positive development in the travel and entertainment industries. In this environment, the shift to card payments contin

In 2025, Taiwan saw rising financial card circulation, driven by government initiatives like the DIGI+ plan and the launch of Taiwan Pay, alongside mobile payment adoption and bank incentives. Pre-paid, especially open loop cards, gained popularity for their versatility and appeal to underbanked and younger consumers. Everyday convenience, transit integration, e-commerce, and loyalty rewards have boosted usage, while open banking has enabled personalised services. Continued digitalisation, innov

Financial cards and payments in Denmark recorded robust growth in total volume and current value transactions in 2025, with rates for both picking up from 2024. Beyond the fact that the country is already one of the least cash-dependent in the world, this performance was supported by broadly favourable economic conditions and demographic trends. However, increasing maturity and the rising adoption of wholly digital payment methods meant the total number of cards in circulation declined slightly.

In 2025, the US financial cards and payments landscape was shaped by significant regulatory realignment and intensified competition in the premium segment. The economy remained resilient during ongoing inflationary pressures and geopolitical uncertainties, while the Federal Reserve gradually reduced interest rates. The Trump Administration implemented regulatory changes, including modifications to the Consumer Financial Protection Bureau’s mandate, which influenced the payments sector. Card issu

In 2025, Turkey’s financial cards and payments landscape continues shifting rapidly toward digital and credit-based solutions. High inflation and economic uncertainty are driving consumers to rely more on credit cards to manage expenses, while the inconvenience of carrying cash accelerates the move to card and contactless payments. At the same time, digital wallets and mobile payments are gaining strong momentum, pushing banks and fintechs to innovate with more integrated and secure offerings. T

In 2025, Ukraine’s financial card industry expanded steadily, supported by regulatory reforms, wider cashless infrastructure, and rapid digital innovation. Card usage increased amid mandated merchant acceptance and growing adoption of contactless and mobile payments. Credit cards gained popularity for everyday spending, given ongoing economic uncertainty. Moving forward, Open Banking, fintech expansion, and deeper European integration are expected to further enhance card functionality, competiti

Hungary’s financial cards industry continued to grow in 2025, supported by rising financial inclusion, expanding merchant acceptance, and a structural shift away from cash. Cards are increasingly embedded in digital wallets and e-commerce, while fintechs such as Revolut are reshaping consumer expectations. Moving forward, instant payments and alternative rails will intensify competition, while rising fraud risks will make security and consumer trust critical to sustaining growth.

In 2025, Greece's card payment landscape sees rapid acceleration of digital payments and the continued decline of cash usage. The key drivers were government mandates designed to curb tax evasion and also the adoption of new European Union (EU) regulations.

Debit cards still dominate the payment landscape in Norward, though credit cards are narrowing the gap in terms of transaction value. There is also a significant shift to mobile payment following the integration of the national debit system with NFC functionality into the mobile payment app, Vipps.

Financial cards rose over 2025 as more Israeli consumers relied on cards to pay for everyday purchases. In July 2025, it was noted that a rising number of consumers are spending more than they earn, with around one third falling into a debt trap, and struggling to replay the amounts charged to their credit cards. Overdrafts were also increasingly used, reflecting tighter household budgets. Indeed in 2024, the Bank of Israel reported that there was a notable increase in credit from credit card co

The number of financial cards in circulation in the Netherlands declined in 2025, primarily due to the reduction of closed loop pre-paid transport cards like the OV-chipkaart, while debit and charge cards continued to grow. Transaction volumes increased, driven by mobile payments, e-commerce, and frequent public transport usage. Credit cards transitioned into charge cards after the discontinuation of deferred payment facilities. Key issuers, including Cards Unlimited, ING, ABN AMRO, and American

In 2025, the financial card payment landscape in Portugal is characterised by a high adoption of contactless technology, and the continued dominance of the local mobile payment service MB WAY. As such, the payment landscape is shifting from traditional physical cards to mobile wallets and instantaneous transactions.

In 2025, Egypt’s financial cards and payments market continued to advance rapidly, driven by increased adoption of digital channels, merchant network expansion, and strong government-led initiatives to formalise and digitise financial services. Although inflationary pressures persisted, growth in card issuance and transaction volumes remained solid, supported by rising demand for credit, wider acceptance of prepaid products, and expanded mobile wallet functionality.

The number of financial cards in circulation in Morocco continued to expand in 2025, supported by strong macroeconomic conditions, financial inclusion initiatives, and regulatory reforms. Infrastructure upgrades, liberalisation of electronic payment terminals, and fintech innovations are expanding digital access, while partnerships between banks and global networks have strengthened security and convenience. Emerging players like Chari are driving adoption among small businesses and underserved

In 2025, the development of financial cards and payments in Canada was influenced by an increase in credit card applications, especially from younger consumers and newcomers to the country, due to the loosening of requirements because of lower interest rates, less dramatic growth in delinquency rates and broader economic optimism. Improvements in macroeconomic indicators and AI developments relating to security and an enhanced customer experience have also contributed to growth in debit cards. M

The number of financial cards and payments in circulation witnessed consistent growth in 2025. Debit card use has come under threat from BNPL services, with young adults choosing this option to fuel spending behaviour as disposable income is restricted to essentials.

In Malaysia, financial cards and payments recorded higher card circulation and rising transaction activity in 2025, supported by wider acceptance, POS expansion and growing contactless usage for low-value purchases. E-commerce growth and wallet-linked spending reinforced the role of card credentials in online checkout, while initiatives such as DuitNow QR broadened acceptance among smaller merchants and micro businesses. Digital-only banks launching in 2024 added momentum through mobile-first on

Hong Kong’s financial cards landscape in 2025 reflected a mature category shaped by decades of contactless adoption and the early success of stored-value systems. Everyday tap-to-pay habits, which began with transit and small retail purchases through Octopus and early contactless cards, expanded into e-commerce, services, and government uses as local consumers grew accustomed to fast, frictionless payments. This shift was further supported by the proliferation of NFC-enabled POS terminals, the s