Between 2013 and 2023, the number of debit cards in Belgium showed moderate fluctuations. The data reveals a significant dip between 2019 and 2020 by 16.42%, likely due to external factors such as the pandemic. However, a strong recovery was observed in 2021 with a growth rate of 27.36%. The year-on-year increase for 2023 was modest at 0.64%. As of 2023, the number of debit cards stood at 18.14 million units. The 5-year CAGR from 2018 to 2023 was approximately 0.21%.

Future trends to watch for include:

Continued moderate growth, with the forecast suggesting a 5-year CAGR of 0.5% through 2028.
Integration of digital payment technologies, which may impact the demand for traditional debit cards.
External economic factors and regulatory changes that could affect banking practices and consumer behavior.