Forecast: Number of Card Payments in Belgium

The number of card payments in Belgium has seen a steady increase from 1.33 billion units in 2013 to 2.04 billion units in 2023. Between 2013 and 2023, the year-on-year growth rates have generally hovered around low single digits, gradually declining from an initial 8.59% in 2013 to 2.53% in 2023. The compound annual growth rate (CAGR) over the past five years stands at 2.79%. Projected data indicates that by 2028, the number of card payments will reach 2.28 billion units, with a forecasted CAGR of 1.73% over the next five years, reflecting a slower but steady growth rate of 8.97% in total over this period.

Future trends to watch for include:

• Further integration of digital payment solutions, possibly impacting the volume of card payments.
• Technological advancements and changes in consumer behavior that may either amplify or curb the growth of card payments.
• Regulatory changes or economic conditions that might influence transactional preferences and methods.