Dublin, May 23, 2023 (GLOBE NEWSWIRE) -- The "Netherlands Cards and Payments - Opportunities and Risks to 2026" report has been added to ResearchAndMarkets.com's offering.
The report provides detailed analysis of market trends in the Netherlands' cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry including credit transfers, cash, mobile wallets, cards, direct debits and xcheques 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.
Scope
Dutch banks are progressively switching from Maestro and V PAY to Mastercard- and Visa-branded debit cards. From July 2023, Mastercard and Visa will no longer issue Maestro and V PAY cards.
According to the Dutch Payments Association, over 30 million Dutch debit cards bearing Maestro or V PAY branding will be gradually replaced; by the end of 2028, all Dutch payment cards will bear the Visa Debit or Mastercard Debit brand. Meanwhile, consumers with a valid V PAY or Maestro debit card can continue to make payments and withdraw cash anywhere in Europe.
As of December 2022, 425,000 payment terminals in the Netherlands have been successfully updated, allowing merchants to accept chip and PIN-enabled Visa and Mastercard payment cards
Amid high inflation and rising energy prices, on March 22, 2023, the European Central Bank revised its benchmark interest rate to 3.75% (compared to 0.75% in July 2022). This impacts consumers' purchasing power as well as the cost of borrowing, thereby affecting spending via credit cards.
Additionally, heightened uncertainty owing to the Russia/Ukraine conflict, high inflation, rising commodity and energy prices, and the economic slowdown in Europe will impact the credit and charge card market, as both consumers and businesses will reduce their expenditure
Contactless payments are being deployed within public transportation systems. In December 2022, public transport operators GVB and EPS launched the OVpay payment service in Amsterdam, allowing commuters to make contactless payments for bus, train, tram, and metro journeys using payment cards or mobile wallets such as Apple Pay and Google Pay.
This will further encourage contactless payments going forward. According to the Dutch Payments Association, 89% of debit and credit card payments in the country were contactless as of December 2022 - up from 87% as of December 2021
Reasons to Buy
- Make strategic business decisions, using top-level historic and forecast market data, related to the Netherlands's cards and payments industry and each market within it
- Understand the key market trends and growth opportunities in the Netherlands' cards and payments industry
- Assess the competitive dynamics in the Netherlands' cards and payments industry
- Gain insights into marketing strategies used for various card types in the Netherlands
- Gain insights into key regulations governing the Netherlands' cards and payments industry.
Key Topics Covered:
- Market Overview
- Payment Instruments
- Card-Based Payments
- Merchant Acquiring
- Ecommerce Payments
- In-Store Payments
- Buy Now Pay Later
- Mobile Payments
- P2P Payments
- Bill Payments
- Alternative Payments
- Payment Innovations
- Job Analysis
- Payment Infrastructure and Regulation
- Appendix
A selection of companies mentioned in this report includes
- Rabobank
- ING
- ABN AMRO
- equensWorldline
- EMS
- Adyen
- Visa
- Mastercard
- DNB
- Dutch Payments Association
- de Volksbank
- American Express
- iDEAL
- Klarna
- Facebook Pay
- Riverty
- PayPal
- Apple Pay
- Google Pay
- Tikkie
- Click to Pay
For more information about this report visit https://www.researchandmarkets.com/r/faofqk
Source: GlobalData
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