Sweden Cards and Payments Opportunities and Risks Market Report 2023-2026: Declining Rate Of Cash Use and Rising Adoption of Contactless Payments and Expansion of Their Coverage
DUBLIN, May 23, 2023 /PRNewswire/ -- The "Sweden 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 Swedish cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cards, credit transfers, mobile wallets, cash, 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.
Scope
The rising adoption of contactless payments and expansion of their coverage for public transport will further drive payment card usage. In February 2021, Stockholm rolled out an open-loop contactless payment system on public transport across the city, enabling commuters to pay for metro, rail, bus, tram, and boat trips by tapping their contactless card or NFC-enabled mobile wallet solution against card readers.
As of March 2022, 15% of total fare payments were made via contactless methods. Meanwhile, in May 2022, PayPal launched its Tap To Pay service Zettle in the country, which allows merchants to accept payments made using cards and digital wallets directly via NFC-enabled Android mobile devices
With the declining use of cash and the growing preference for digital payment methods, the central bank released the pilot phase of its digital currency, the e-krona, in April 2021. The second phase of testing took place in April 2022, with additional testing set to follow. Once launched, the digital currency will become an additional payment tool for businesses and individuals
RIX-INST is an instant payment platform enabling users to make direct transfers between bank accounts in real-time. It was launched by Riksbank (Sweden's central bank) in May 2022. This service enables payments to be settled between banks in real-time, 24 hours a day, seven days a week, 365 days a year. The service is based on the Eurosystem's TIPS platform. Swish was the first provider to deploy RIX-INST
This report provides top-level market analysis, information and insights into the Swedish cards and payments industry, including:
- Current and forecast values for each market in the Swedish cards and payments industry, including debit, credit, and charge cards
- Detailed insights into payment instruments including cards, credit transfers, mobile wallets, cash, and direct debits. 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 Swedish cards and payments industry
- Detailed analysis of strategies adopted by banks and other institutions to market debit, credit, and charge cards
- Comprehensive analysis of consumer attitudes and buying preferences for cards
- The competitive landscape of the Swedish cards and payments industry
Key Topics Covered:
- Executive Summary
- 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
- Swedbank
- SEB
- Nordea
- Svenska Handelsbanken
- ICA Banken
- Lansforsakringar Bank
- MedMera Bank
- Ikano Bank
- Skandia
- Mastercard
- Visa
- American Express
- Diners Club
For more information about this report visit https://www.researchandmarkets.com/r/htzw99
Source: GlobalData
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SOURCE Research and Markets
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