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Norway Cards and Payments - Opportunities and Risks to 2025

Norway Cards and Payments - Opportunities and Risks to 2025

  • April 2022
  • 94 pages
  • ID: 5844145
  • Format: PDF
  • GlobalData


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Norway Cards and Payments - Opportunities and Risks to 2025

‘Norway Cards and Payments - Opportunities and Risks to 2025’ report provides detailed analysis of market trends in the Norwegian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, cards, cheques, credit transfers, and direct debits during the review-period (2017-21e).

The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2021e-25f). It also offers information on the country’s competitive landscape, including market shares of issuers and schemes.

The report brings together research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.

The report provides top-level market analysis, information and insights into the Norwegian cards and payments industry, including -
- Current and forecast values for each market in Norway’s cards and payments industry, including debit, credit and charge cards.
- Detailed insights into payment instruments including cards, credit transfers, cash, direct debits, and cheques. It also, includes an overview of the country’s key alternative payment instruments.
- Ecommerce market analysis.
- Analysis of various market drivers and regulations governing the Norwegian cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit, credit and charge cards.

- Contactless technology is gaining prominence in Norway, with banks and scheme providers increasingly promoting this technology. The number of contactless cards in the country was estimated at 12.1 million in 2021, up significantly from 774,000 in 2017. The figure is anticipated to reach 14.8 million by 2025f at a CAGR of 5.1% over 2021e-25f. The declining use of cash and the near daily use of payment cards means the scope for contactless payments in Norway is significant. The number of contactless payments is likely to grow further as more contactless cards are issued and merchants increasingly adopt contactless POS terminals.
- The merchant acquiring space saw a series of mergers and acquisitions during the review period. In November 2017, Ingenico acquired payment services provider Bambora to offer integrated and omnichannel solutions. Ingenico was later acquired by Worldline in November 2020. In January 2019, the merger of Nets and Concardis Payment Group (a leading merchant payment services provider in the DACH region) was completed. The combined entity created a business with nearly EUR1.3 billion ($1.6 billion) of revenue and EUR500 million ($611.4 million) of EBITA. In June 2021, Italian payment processor Nexi acquired Nets for EUR7.8 billion ($9.5 billion). The deal made Nexi one of the leading acquirers in the Nordics.
- The proliferation of digital-only banks will further support payment card market growth. Launched in 2000, digital-only bank Sbanken has emerged as a leading player in the debit card space. Norway-based digital bank Instabank offers a range of products including current accounts, payment cards, savings accounts, time deposit accounts, and consumer loans. Meanwhile, Norway-based digital-only bank Aprila Bank serves small businesses. In addition, international digital-only banks such as N26 and Revolut also operate in the country. N26 offers its flagship premium account, N26 Metal, which includes a debit card that provides unlimited free foreign currency exchanges and withdrawals worldwide.

Reasons to Buy
- Make strategic business decisions, using top-level historic and forecast market data, related to the Norwegian cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in the Norwegian cards and payments industry.
- Assess the competitive dynamics in the Norwegian cards and payments industry.
- Gain insights into marketing strategies used for various card types in Norway.
- Gain insights into key regulations governing the Norwegian cards and payments industry.

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