Norway Cards and Payments - Opportunities and Risks to 2026

The publisher's ‘Norway Cards and Payments: Opportunities and Risks to 2026' 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 (2018-22e).

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 (2022e-26f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together the publisher's 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.

This 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, mobile wallets, direct debits, cash, 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

Scope

• The central bank has been steadily increasing interest rates to curb inflation, revising its policy interest rate to 3% in March 2023 - up from 2.75% in January 2023. As a result, banks and card issuers are increasing interest rates on consumer lending products. Such moves will directly impact the credit card market, leading to reduced spending via these cards
• Contactless technology is gaining prominence in Norway, with banks and scheme providers increasingly promoting this technology. In 2022, the number of contactless payment cards was estimated at 13 million - up significantly from 8.6 million in 2018. This figure is set to reach 14.3 million by 2026. Contactless cards are increasingly being used for transport payments. In December 2022, Norway's Minister of Transport and Communications announced all new electric vehicle charging stations in Norway must have a contactless payment option
• Alternative payment solutions are being introduced in Norway. Samsung Wallet launched in the country in October 2022. It enables users to make contactless in-store payments; the service also supports online payments. Currently, Samsung Wallet is only supported by SEB and DNB in Norway. Users can store payment card and loyalty card details within the mobile wallet. Users can scan the front of a card with the app or enter the card details manually. To make a payment, users open Samsung Wallet on their mobile phone and select a saved card. Payments can be authenticated by fingerprint on the home menu

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.