Forecast: Value of Payments by Cards with a Debit Function in Belgium

The value of payments by cards with a debit function in Belgium stood at 103.5 billion USD in 2023. Over the past two years, the year-on-year variation reflected a slight increase of 1.83% in 2023 compared to a decrease of 2.95% in 2022. On a longer horizon, the compound annual growth rate (CAGR) over the last five years was notably low at 1.49%, indicating modest growth. Looking forward, forecasted data up until 2028 project a continued but slow growth trend with an expected 5-year CAGR of 1.4% and an overall growth rate of 7.2%.

Future trends to watch for include:

• The impact of digital payment innovations and potential shifts in consumer payment preferences.
• Regulatory changes that may affect card usage and payment infrastructures.
• Economic factors influencing consumer spending and transaction volumes.
• The adoption rate of new payment technologies such as contactless payments and mobile wallets.