Store cards saw significant decline in 2025 as it suffered from an increasingly old-fashioned image and the ongoing withdrawal of the leading player from the category. The rise of alternative payment methods and the shift to store-branded credit cards pose a growing threat to the development of store cards.

Store cards in Denmark posted negative results in terms of circulation numbers and volume transactions in 2025. This was in keeping with the pattern observed over most of the review period, as the category is in structural decline due to the overwhelming preference for debit and credit cards among consumers and the growing adoption of app-based alternatives by retailers and other merchants. The same factors continued to depress current value transactions, though they did increase for the first t

Store cards experienced growth in 2025, supported by expanding access to credit through digital sign-ups, instant credit checks, and point-of-sale applications, as well as the expansion of medical-focused cards. Transactions increased within a regulatory environment that reduced compliance burdens and encouraged greater consumer engagement, allowing issuers to offer more incentives and flexible credit limits. High interest rates on store cards persist, reflecting the higher default risk relative

Store cards issued by retailers are not present in the Netherlands and there are no indications that this situation will change over the forecast period.

Store cards continue to lose popularity in Portugal in 2025. Store cards have not kept up with technology innovations and this is leading to their decline.

Store cards faced a number of challenges at the end of the review period, including the closure of the department stores of Hudson Bay, the largest department store operator in Canada. In addition, competition from credit cards is increasing. At the same time, the rise of integrated reward programmes and increasing consumer spending power are set to boost store card usage.

Store cards in South Korea witnessed sluggish growth in 2025 amid the emergence of private label credit cards. Strategic partnerships and limited edition store cards are being used to garner consumer interest.

Transaction values in store cards remained positive in Argentina in 2025, albeit at a slump in growth compared to the previous year. Meanwhile, cards in circulation continue to decrease, following the decreasing trend seen the previous year. Consumer interest in such products has been diminishing for several years in line with the growing preference for financial cards and payment tools that provide greater versatility and flexibility.

In 2025, store cards in Italy saw a decline in both circulation and transaction values, continuing a downward trend driven by strong competition from more flexible, cost-effective payment alternatives that are preferred for their broader usability and lower costs, while store cards remain restricted to specific retailers and often carry higher interest rates.

Store cards saw a positive performance in Thailand in 2025, in both transaction value terms and in numbers of cards in circulation. However, this growth is fairly modest and is mostly supported by “Virtual Membership”, while traditional physical cards are expected to be phased out.

Store cards are considered an extremely popular form of credit and payment in South Africa, with consumers attracted by flexible repayment options, instant credit decisions, as well as exclusive perks. Major online payment processors have continued to integrate retail store cards as a payment option throughout the review period.

Store cards are slowly losing relevance in Colombia as consumers increasingly turn to the convenience and flexibility of other payment options, especially credit cards and BNPL. Some retailers are turning to co-branded products rather then traditional store cards in response to this shift in behaviour, although store cards still remain a tool for creating and sustaining brand loyalty for some retailers.

Store cards in Chile remained on a downward trajectory in terms of the number of cards in circulation and transaction volumes and values in 2025. The decline in the category is underpinned by consumers continuing to favour other, more developed, payment methods, like debit, credit and open loop pre-paid cards. Many financial cards users prefer to consolidate spending on cards that offer broader merchant acceptance, better rewards and easier integration into digital wallets. Retailers have recogn

Store cards in Mexico saw growth in both transaction volume and the number of cards in circulation in 2025 as the leading department stores in the country performed well amid expansion. Store cards remain a key enabler of credit in the country, and the outlook for the category is buoyant, although the entry of numerous digital banks offering easy-to-access financial cards poses a threat.

Store cards are rapidly losing relevance as consumers shift to debit and credit cards and mobile wallets, while retailers show a growing preference for apps and alternative payment options. The market is seen to have little future potential with retailers expected to increasingly steer consumers towards co-branded cards and apps, while consumers are expected to focus on streamlining their wallets.

An old fashioned image and extremely limited acceptance mean that store cards is seeing decline in terms of card numbers, transaction volume and transaction value. Consumers are increasingly shifting to more convenient and widely accepted options, such as debit cards, credit cards and BNPL. At the same time, companies are proving less and less willing to invest in store cards, with several withdrawing their cards and focusing on other options.

Store cards’ growth is being shaped by a number of trends. Consumers are increasingly looking for automation and personalisation, as well as more flexible payment options. Security is also a growing concern. In addition, consumers demand card-linked offers, such as cashback and vouchers. However, there is growing competition for store cards in the form of more modern options, including co-branded credit cards and charge cards.

While Japanese retailing has traditionally offered an important role for high-end store cards, the situation is changing. Although the rise in the number of high-net-worth individuals offers potential for development despite a decline in the overall population, the shift to premium credit cards is undermining the position of store cards in retailers’ strategies.

Store cards registered significant decline across metrics in 2025 as retailers continued to shift away from traditional card propositions. The Argos NewDay partnership to upgrade legacy store cards with Argos-branded digital credit shows the future of retail finance, limiting the role of traditional cards as merchants focus on promoting gift cards in stores and apps.

Store cards is seeing decline as it suffers from increasing competition from alternative payment methods that offer greater flexibility. The fact that the core customer base of informal and low-income consumers has been hit particularly hard by recent challenging economic conditions has also weakened the performance of store cards.

Store cards saw a decline in circulation in 2025, despite the number of transactions increasing. Fewer Australians are opening new store card accounts or renewing their cards, but fuel cards are used consistently across the country.

Store cards have never played a major role in Austria and will remain a niche market, with a downward trend also seen in 2024. Most consumers in Austria are unfamiliar with store cards, they fear hidden costs with every additional payment method, and the usage of revolving credit in payment cards is generally uncommon in favour of overdraft facilities.

The use of store cards continued to decline sharply in Peru in 2024, as traditional store cards continue to be transformed into Visa or Mastercard credit cards. As a result, very few store cards are still working in some regional stores, being those which are still within their validity period. This switch to credit cards is preferable for consumers, as it enables wider usage of such cards in other establishments where Visa or Mastercard are accepted, instead of cards being exclusive to one stor

Store cards remain a niche category in Norway, with transactions on these cards continuing to decline in 2024 as they lose appeal as a form of payment. While Norway is one of the most advanced societies in the world regarding card payments, the digitalisation trend has had little impact on store cards. As a result, store cards have become increasingly marginalised in Norway and represent less than 1% of all card payments in the country.