Forecast: Number of Payments by Cards with a Debit Function in Spain

In Spain, the number of payments by cards with a debit function has shown significant growth from 2013 to 2023, with an increase from 1.17 billion units to 3.79 billion units. The year-on-year growth rates highlight a fluctuating trend: impressive increments up until 2018, followed by a slight decline in 2019 and a more notable drop in 2020. Recovery took place in 2021 with a 32.49% increase, tapering off slightly to 3.64 billion units by 2022. The data up to 2023 shows a growth with a year-on-year increase of 4.16%.

Key Year-on-Year Variations:

• The highest growth was observed in 2018 at 27.85%.
• A notable drop occurred in 2020 at -12.79%.
• 2021 saw a significant rebound with a 32.49% increase.
• The growth stabilized in 2022 and began increasing again in 2023 by 4.16%.

Compound Annual Growth Rate (CAGR):

• The five-year CAGR until 2023 was 3.3%.
• The forecasted five-year CAGR from 2024 to 2028 is 2.95%, indicating a more stable yet slower growth rate.

Future Trends to Watch For:

Future trends suggest continued growth in the number of payments by cards with a debit function in Spain, though at a slower pace. Attention should be given to digital payment innovations, improvements in transaction security, and the shift to contactless and mobile payments. These factors will likely influence the overall usage and further adoption of debit cards, which will be critical to monitor closely.