Financial Cards and Payments in Norway

Financial cards and payments in Norway is witnessing a moderate performance in 2023, with flat volume growth and steady growth in card transactions. There has been a steady recovery in transaction spend since 2021, following the heavy declines experienced at the height of the COVID-19 pandemic in 2020. Card payments have been boosted by the pent-up demand seen after the pandemic and the digitalization of payments, with cash becoming increasingly marginalized.

The Financial Cards and Payments in Norway report establishes the size and structure of the market for ATMs cards, smart cards, credit cards, debit cards, charge cards, pre-paid cards and store cards. It looks at key players in the market (issuers and operators), number of cards in circulation, numbers transactions and value of transactions. It offers strategic analysis of sector forecasts and trends to watch.

Product coverage: Financial Cards in Circulation, Mobile Payments, Transactions.

Data coverage: Market sizes (historic and forecasts), company shares, brand shares and distribution data.

Why buy this report?

Get a detailed picture of the Financial Cards and Payments market;
Pinpoint growth sectors and identify factors driving change;
Understand the competitive environment, the market’s major players and leading brands;
Use five-year forecasts to assess how the market is predicted to develop.

FINANCIAL CARDS AND PAYMENTS IN NORWAY

EXECUTIVE SUMMARY

Financial cards and payments in 2023: The big picture
2023 key trends
Mobile solutions offer user-friendly and convenient solutions
Competitive landscape
What next for financial cards and payments?

MARKET INDICATORS

Table 1 Number of POS Terminals: Units 2018-2023
Table 2 Number of ATMs: Units 2018-2023
Table 3 Value Lost to Fraud 2018-2023
Table 4 Card Expenditure by Location 2023
Table 5 Financial Cards in Circulation by Type: % Number of Cards 2018-2023
Table 6 Domestic versus Foreign Spend 2023

MARKET DATA

Table 7 Financial Cards by Category: Number of Cards in Circulation 2018-2023
Table 8 Financial Cards by Category: Number of Accounts 2018-2023
Table 9 Financial Cards Transactions by Category: Value 2018-2023
Table 10 Financial Cards by Category: Number of Transactions 2018-2023
Table 11 Consumer Payments by Category: Value 2018-2023
Table 12 Consumer Payments by Category: Number of Transactions 2018-2023
Table 13 M-Commerce by Category: Value 2018-2023
Table 14 M-Commerce by Category: % Value Growth 2018-2023
Table 15 Financial Cards: Number of Cards by Issuer 2018-2022
Table 16 Financial Cards: Number of Cards by Operator 2018-2022
Table 17 Financial Cards: Card Payment Transactions Value by Operator 2018-2022
Table 18 Financial Cards: Card Payment Transactions Value by Issuer 2018-2022
Table 19 Forecast Financial Cards by Category: Number of Cards in Circulation 2023-2028
Table 20 Forecast Financial Cards by Category: Number of Accounts 2023-2028
Table 21 Forecast Financial Cards Transactions by Category: Value 2023-2028
Table 22 Forecast Financial Cards by Category: Number of Transactions 2023-2028
Table 23 Forecast Consumer Payments by Category: Value 2023-2028
Table 24 Forecast Consumer Payments by Category: Number of Transactions 2023-2028
Table 25 Forecast M-Commerce by Category: Value 2023-2028
Table 26 Forecast M-Commerce by Category: % Value Growth 2023-2028

DISCLAIMER

SOURCES

Summary 1 Research Sources

DEBIT CARDS IN NORWAYKEY DATA FINDINGS

2023 DEVELOPMENTS

Debit cards are most prevalent payment method
Transaction spend growth slows in 2023
Major changes to Norway’s banking competitive landscape

PROSPECTS AND OPPORTUNITIES

Positive outlook ahead for debit cards
E-commerce may create growth opportunities for debit cards
Contactless payments set to increase steadily

CATEGORY DATA

Table 27 Debit Cards: Number of Cards in Circulation 2018-2023
Table 28 Debit Cards Transactions 2018-2023
Table 29 Debit Cards in Circulation: % Growth 2018-2023
Table 30 Debit Cards Transactions: % Growth 2018-2023
Table 31 Debit Cards: Number of Cards by Issuer 2018-2022
Table 32 Debit Cards: Number of Cards by Operator 2018-2022
Table 33 Debit Cards Payment Transaction Value by Issuer 2018-2022
Table 34 Debit Cards Payment Transaction Value by Operator 2018-2022
Table 35 Forecast Debit Cards: Number of Cards in Circulation 2023-2028
Table 36 Forecast Debit Cards Transactions 2023-2028
Table 37 Forecast Debit Cards in Circulation: % Growth 2023-2028
Table 38 Forecast Debit Cards Transactions: % Growth 2023-2028

CREDIT CARDS IN NORWAYKEY DATA FINDINGS

2023 DEVELOPMENTS

Record year for credit card transactions
Travel and e-commerce drive credit card usage
Business travel boosts commercial credit cards

PROSPECTS AND OPPORTUNITIES

Steady growth ahead for credit card transactions
Buy-Now-Pay-Later presents a major challenge to credit cards
Consolidation in banking landscape will raise level of competition

CATEGORY DATA

Table 39 Credit Cards: Number of Cards in Circulation 2018-2023
Table 40 Credit Cards Transactions 2018-2023
Table 41 Credit Cards in Circulation: % Growth 2018-2023
Table 42 Credit Cards Transactions: % Growth 2018-2023
Table 43 Commercial Credit Cards: Number of Cards in Circulation 2018-2023
Table 44 Commercial Credit Cards Transactions 2018-2023
Table 45 Commercial Credit Cards in Circulation: % Growth 2018-2023
Table 46 Commercial Credit Cards Transactions: % Growth 2018-2023
Table 47 Personal Credit Cards: Number of Cards in Circulation 2018-2023
Table 48 Personal Credit Cards Transactions 2018-2023
Table 49 Personal Credit Cards in Circulation: % Growth 2018-2023
Table 50 Personal Credit Cards Transactions: % Growth 2018-2023
Table 51 Credit Cards: Number of Cards by Issuer 2018-2022
Table 52 Credit Cards: Number of Cards by Operator 2018-2022
Table 53 Credit Cards Payment Transaction Value by Issuer 2018-2022
Table 54 Credit Cards Payment Transaction Value by Operator 2018-2022
Table 55 Commercial Credit Cards: Number of Cards by Issuer 2018-2022
Table 56 Commercial Credit Cards: Number of Cards by Operator 2018-2022
Table 57 Commercial Credit Cards Payment Transaction Value by Issuer 2018-2022
Table 58 Commercial Credit Cards Payment Transaction Value by Operator 2018-2022
Table 59 Personal Credit Cards: Number of Cards by Issuer 2018-2022
Table 60 Personal Credit Cards: Number of Cards by Operator 2018-2022
Table 61 Personal Credit Cards Payment Transaction Value by Issuer 2018-2022
Table 62 Personal Credit Cards Payment Transaction Value by Operator 2018-2022
Table 63 Forecast Credit Cards: Number of Cards in Circulation 2023-2028
Table 64 Forecast Credit Cards Transactions 2023-2028
Table 65 Forecast Credit Cards in Circulation: % Growth 2023-2028
Table 66 Forecast Credit Cards Transactions: % Growth 2023-2028
Table 67 Forecast Commercial Credit Cards: Number of Cards in Circulation 2023-2028
Table 68 Forecast Commercial Credit Cards Transactions 2023-2028
Table 69 Forecast Commercial Credit Cards in Circulation: % Growth 2023-2028
Table 70 Forecast Commercial Credit Cards Transactions: % Growth 2023-2028
Table 71 Forecast Personal Credit Cards: Number of Cards in Circulation 2023-2028
Table 72 Forecast Personal Credit Cards Transactions 2023-2028
Table 73 Forecast Personal Credit Cards in Circulation: % Growth 2023-2028
Table 74 Forecast Personal Credit Cards Transactions: % Growth 2023-2028

CHARGE CARDS IN NORWAYKEY DATA FINDINGS

2023 DEVELOPMENTS

Charge card transactions remain well below pre-pandemic levels
American Express is sole player in charge cards
Charge cards is missing out on the digitalisation trend

PROSPECTS AND OPPORTUNITIES

Charge cards face limited prospects
New business habits to limit the use of charge cards
Little room for product innovation

CATEGORY DATA

Table 75 Charge Cards: Number of Cards in Circulation 2018-2023
Table 76 Charge Cards Transactions 2018-2023
Table 77 Charge Cards in Circulation: % Growth 2018-2023
Table 78 Charge Cards Transactions: % Growth 2018-2023
Table 79 Commercial Charge Cards: Number of Cards in Circulation 2018-2023
Table 80 Commercial Charge Cards Transactions 2018-2023
Table 81 Commercial Charge Cards in Circulation: % Growth 2018-2023
Table 82 Commercial Charge Cards Transactions: % Growth 2018-2023
Table 83 Personal Charge Cards: Number of Cards in Circulation 2018-2023
Table 84 Personal Charge Cards Transactions 2018-2023
Table 85 Personal Charge Cards in Circulation: % Growth 2018-2023
Table 86 Personal Charge Cards Transactions: % Growth 2018-2023
Table 87 Charge Cards: Number of Cards by Issuer 2018-2022
Table 88 Charge Cards: Number of Cards by Operator 2018-2022
Table 89 Charge Cards Payment Transaction Value by Issuer 2018-2022
Table 90 Charge Cards Payment Transaction Value by Operator 2018-2022
Table 91 Commercial Charge Cards: Number of Cards by Issuer 2018-2022
Table 92 Commercial Charge Cards: Number of Cards by Operator 2018-2022
Table 93 Commercial Charge Cards Payment Transaction Value by Issuer 2018-2022
Table 94 Commercial Charge Cards Payment Transaction Value by Operator 2018-2022
Table 95 Personal Charge Cards: Number of Cards by Issuer 2018-2022
Table 96 Personal Charge Cards: Number of Cards by Operator 2018-2022
Table 97 Personal Charge Cards Transaction Value by Issuer 2018-2022
Table 98 Personal Charge Cards Transaction Value by Operator 2018-2022
Table 99 Forecast Charge Cards: Number of Cards in Circulation 2023-2028
Table 100 Forecast Charge Cards Transactions 2023-2028
Table 101 Forecast Charge Cards in Circulation: % Growth 2023-2028
Table 102 Forecast Charge Cards Transactions: % Growth 2023-2028
Table 103 Forecast Commercial Charge Cards: Number of Cards in Circulation 2023-2028
Table 104 Forecast Commercial Charge Cards Transactions 2023-2028
Table 105 Forecast Commercial Charge Cards in Circulation: % Growth 2023-2028
Table 106 Forecast Commercial Charge Cards Transactions: % Growth 2023-2028
Table 107 Forecast Personal Charge Cards: Number of Cards in Circulation 2023-2028
Table 108 Forecast Personal Charge Cards Transactions 2023-2028
Table 109 Forecast Personal Charge Cards in Circulation: % Growth 2023-2028
Table 110 Forecast Personal Charge Cards Transactions: % Growth 2023-2028

PRE-PAID CARDS IN NORWAYKEY DATA FINDINGS

2023 DEVELOPMENTS

Pre-paid cards lose traction as mobile wallets take precedence
Closed loop pre-paid cards face heavy threat from Vipps
Transport pre-paid cards are substituted with mobile apps

PROSPECTS AND OPPORTUNITIES

Pre-paid cards to lose further appeal
Vipps holds major appeal with child banked population
Open loop pre-paid cards to remain a niche

CATEGORY DATA

Table 111 Pre-paid Cards: Number of Cards in Circulation 2018-2023
Table 112 Pre-paid Cards Transactions 2018-2023
Table 113 Pre-paid Cards in Circulation: % Growth 2018-2023
Table 114 Pre-paid Cards Transactions: % Growth 2018-2023
Table 115 Closed Loop Pre-paid Cards Transactions 2018-2023
Table 116 Closed Loop Pre-paid Cards Transactions: % Growth 2018-2023
Table 117 Open Loop Pre-paid Cards Transactions 2018-2023
Table 118 Open Loop Pre-paid Cards Transactions: % Growth 2018-2023
Table 119 Pre-paid Cards: Number of Cards by Issuer 2018-2022
Table 120 Pre-paid Cards: Number of Cards by Operator 2018-2022
Table 121 Pre-paid Cards Transaction Value by Issuer 2018-2022
Table 122 Pre-paid Cards Transaction Value by Operator 2018-2022
Table 123 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2018-2022
Table 124 Closed Loop Pre-paid Cards: Number of Cards by Operator 2018-2022
Table 125 Closed Loop Pre-paid Cards Transaction Value by Issuer 2018-2022
Table 126 Closed Loop Pre-paid Cards Transaction Value by Operator 2018-2022
Table 127 Open Loop Pre-paid Cards: Number of Cards by Issuer 2018-2022
Table 128 Open Loop Pre-paid Cards: Number of Cards by Operator 2018-2022
Table 129 Open Loop Pre-paid Cards Transaction Value by Issuer 2018-2022
Table 130 Open Loop Pre-paid Cards Transaction Value by Operator 2018-2022
Table 131 Forecast Pre-paid Cards: Number of Cards in Circulation 2023-2028
Table 132 Forecast Pre-paid Cards Transactions 2023-2028
Table 133 Forecast Pre-paid Cards in Circulation: % Growth 2023-2028
Table 134 Forecast Pre-paid Cards Transactions: % Growth 2023-2028
Table 135 Forecast Closed Loop Pre-paid Cards Transactions 2023-2028
Table 136 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2023-2028
Table 137 Forecast Open Loop Pre-paid Cards Transactions 2023-2028
Table 138 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2023-2028

STORE CARDS IN NORWAYKEY DATA FINDINGS

2023 DEVELOPMENTS

Store cards are considered less practical and outdated
Limited usage and interest in store cards stifles product development
Fuel store cards are a popular option

PROSPECTS AND OPPORTUNITIES

Store cards face threats from alternative payment methods
Fuel store cards will maintain the niche status of store cards
Digitalisation trend to lead shift away from store cards

CATEGORY DATA

Table 139 Store Cards: Number of Cards in Circulation 2018-2023
Table 140 Store Cards Transactions 2018-2023
Table 141 Store Cards in Circulation: % Growth 2018-2023
Table 142 Store Cards Transactions: % Growth 2018-2023
Table 143 Store Cards: Number of Cards by Issuer 2018-2022
Table 144 Store Cards: Payment Transaction Value by Issuer 2018-2022
Table 145 Forecast Store Cards: Number of Cards in Circulation 2023-2028
Table 146 Forecast Store Cards Transactions 2023-2028
Table 147 Forecast Store Cards in Circulation: % Growth 2023-2028
Table 148 Forecast Store Cards Transactions: % Growth 2023-2028

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