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Spain Cards And Payments Market Key Market Players CaixaBank BBVA Santander Bankia Banco Sabadell

11-28-2018 04:45 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Market Data Forecast

Spain Cards And Payments Market

Spain Cards And Payments Market

Spanish cards and payments market to flourish with the use of social media by leading banks

Spain card payments market demonstrated moderate growth during the review period. The anticipated growth rate of the Spanish economy, the card payments channel is also expected to grow at a similar rate over the forecast period. The prepaid cards category is expected to show the highest growth. These are expected to be preferred over debit or credit cards as they have set spending limits, and other benefits such as rewards or loyalty programs. The volume of prepaid cards is expected to post a CAGR of 12% over the forecast period, and transaction value is expected to post a CAGR of 14%.

In terms of transaction value, the overall card payments channel is expected to show growth, largely due to attempts by the government and banks to inject fresh funds into the economy to stimulate growth. The belt-tightening attitude in consumer spending is, however, expected to prevail, with the prepaid cards category. The use of social media to reach target audiences is gradually increasing among Spanish banks such as Bankinter, CaixaBank, BBVA and Banco Santander. With a number of banks strengthening their presence on social media to engage with target audiences, this will have a positive impact on the cards and payments industry.

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A number of infrastructure drivers are expected to spur the growth of the cards and payments industry in Spain the growth of mobile phone use and the popularity of smartphones have led to robust growth in mobile payments, which posted a CAGR of 130%. Other important infrastructure drivers include internet and mobile penetration and the emergence of advanced payment infrastructure such as ATMs enabled with contactless technology. The positive growth prospects for online retail are also expected to encourage growth in prepaid and debit card categories, and banks are expanding their portfolios to include cards with online functionality. Anticipated improvements in economic indicators such as inflation, GDP and per capita income are some of the macro economic factors expected to support card volume growth over the forecast period.

Access full Report Description, TOC, Table of Figure, Chart, etc. @ https://marketdataforecast.com/market-reports/Spain-Cards-and-Payments-Market-6929/

Related reports: Netherlands Cards and Payments Market, Norway Cards and Payments Market, Indonesia Cards and Payments Market

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Market Data Forecast is a firm working in the areas of market research, business intelligence and consulting. We have rich experience in research and consulting for various business domains to cater to the needs of both individual and corporate clients. A few key business areas that we handle with excellence include business process improvement, corporate financing and decision making based on market research, assisting in developing appropriate strategy and providing consultancy based on extensive research.

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