Key Market Indicators
The number of credit cards in Italy is projected to decrease slightly, reaching approximately 26.5 million units by 2028, down from around 26.6 million units in 2023. This represents an average annual decline of 0.1%. Since 2017, the supply of credit cards in Italy has been decreasing at an average rate of 1.2% per year. In 2023, Italy ranked 12th in the global credit card market, with Mexico surpassing it with the same number of units. The top three countries in this ranking were China, Japan, and Brazil. Meanwhile, the value of credit card transactions in Italy is expected to grow, reaching an estimated $111 billion by 2028, up from $99 billion in 2023. This reflects an average annual growth rate of 1.7%. Since 2017, Italian demand for credit card transactions has increased by 1% annually. In 2023, Italy ranked 9th globally in terms of credit card transaction value, with India overtaking it at $99 billion. South Korea, Japan, and Canada occupied the second, third, and fourth positions, respectively, in this ranking.
