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Norway Cards and Payments: Opportunities and Risks to 2028

Publisher GlobalData
Published Dec 27, 2024
Length 95 Pages
SKU # GBDT19550365

Description

Norway Cards and Payments: Opportunities and Risks to 2028

Summary

GlobalData’s ‘Norway Cards and Payments: Opportunities and Risks to 2028' 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 card, credit transfer, direct debits, cash and cheques during the review-period (2020-24e).

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 (2024e-28f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together GlobalData’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.

The 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 the Norwegian cards and payments industry, including debit, credit and charge cards.
  • Detailed insights into payment instruments including card, credit transfer, 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.
  • Comprehensive analysis of consumer attitudes and buying preferences for cards.
  • The competitive landscape of the Norwegian cards and payments industry.
Key Highlights
  • Payment cards are widely used in Norway. To further increase their adoption, the Norwegian Government has mandated all new EV charging stations with a power output of 50KwH or more to offer card payment options, effective from July 1, 2023. Previously, charging stations only accepted payments via their own apps or private-label cards; limiting payment options for consumers. By the end of 2025, all existing fast-charging stations must also accept card payments. To highlight the size of this market, Norway has the highest EV adoption rate in the world. Recharge (which operates the largest charging network across the Nordic countries) has more than 2,500 charging points in Norway alone.
  • Cash usage slumped in Norway during the review period, in terms of transaction volume, recording a negative CAGR of 7.8%. With increasing use of digital payments, especially by younger generations, cash usage will continue to decline going forward. However, in September 2022, the Ministry of Justice and Emergency Preparedness has submitted a proposal for changes to the Act to strengthen the right to pay cash; mandating merchants to accept cash at physical stores. This proposal aims to recognize the importance of cash as a vital component of a stable economy and disaster resilience. The proposal has been accepted as the Financial Contracts Act and came into force from October 1, 2024.
  • The Norwegian banking and debit card space is witnessing consolidation. In July 2023, Nordea entered into an agreement with Danske Bank to acquire its retail banking services and private banking business and associated asset management portfolios. The acquisition received approval from the Norwegian Competition Authority in December 2023. The final acquisition took place in November 2024. This move is expected to strengthen Nordea’s position as a dominant player in the Norwegian banking sector.
Scope
  • Card market size in terms of number of cards, value and volume of transactions in Norway along with detailed card segmentation of debit, and credit cards available in the country.
  • Market sizing and analysis of major payment instruments including card, credit transfer, direct debits, cash and cheques .
  • Payment market trends and growth for both historical and forecast period
  • Competitor analysis with detailed insights into leading card issuers and schemes.
  • Comprehensive analysis of consumer attitudes and buying preferences for cards.
  • A detailed snapshot of country's key alternative payment brands.
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.

Table of Contents

95 Pages
    • Norway: Key facts, 2024e
    • Norway: Benchmarking of payment cards, 2024e
    • Instant Payments
    • Payment Cards: Market Sizing and Forecasting
    • Payment Cards: Market by Product and Service Type
    • Debit Cards: Market Sizing and Forecasting
    • Debit Cards: Schemes
    • Debit Cards: Issuers
    • Credit and Charge Cards: Market Sizing and Forecasting
    • Credit and Charge Cards: Market Sizing and Forecasting
    • Credit and Charge Cards: Schemes
    • Credit and Charge Cards: Issuers
    • Credit Card Debt
    • Prepaid Cards: Market Sizing and Forecasting
    • Contactless Cards: Card Holding
    • Acquiring and Processing
    • Retail: Market Sizing and Forecasting
    • Ecommerce: Market Sizing and Forecasting
    • Ecommerce: Market by Products and Services
    • Ecommerce: Market by Payment Tool
    • In-Store Payments: Market by Payment Tools
    • In-Store Payments: Market by Products and Services
    • Buy Now Pay Later: Online Purchasing
  • Mobile Payments
  • P2P Payments
  • Bill Payments
    • Alternative Payments: Payment Solutions
  • Payment Innovations
  • Job Analysis
    • POS Terminals and ATMs
    • Regulatory Environment
    • Norway: payment instrument transaction values (NOK billions), 2020–28f
    • Norway: payment instrument transaction values ($ billions), 2020–28f
    • Norway: payment instrument transaction volumes (millions), 2020–28f
    • Norway: payment cards in circulation by type (millions), 2020–28f
    • Norway: volume of payment card transactions (millions), 2020–28f
    • Norway: value of payment card transactions (NOK billions), 2020–28f
    • Norway: value of payment card transactions ($ billions), 2020–28f
    • Norway: debit cards in circulation (millions), 2020–28f
    • Norway: debit card transaction volumes, 2020–28f
    • Norway: debit card transaction values (NOK), 2020–28f
    • Norway: debit card transaction values ($), 2020–28f
    • Norway: debit cards in circulation by scheme (millions), 2020–24e
    • Norway: debit card transaction values by scheme (NOK billions), 2020–24e
    • Norway: debit card transaction values by scheme ($ billions), 2020–24e
    • Norway: debit cards in circulation by issuer (000s), 2020–24e
    • Norway: debit cards transaction value by issuer (NOK billions), 2020–24e
    • Norway: debit cards transaction value by issuer ($ billions), 2020–24e
    • Norway: credit and charge cards in circulation (millions), 2020–28f
    • Norway: credit and charge card transaction volumes, 2020–28f
    • Norway: credit and charge card transaction values (NOK), 2020–28f
    • Norway: credit and charge card transaction values ($), 2020–28f
    • Norway: credit and charge cards in circulation by scheme (000s), 2020–24e
    • Norway: credit and charge card transaction values by scheme (NOK billions), 2020–24e
    • Norway: credit and charge card transaction values by scheme ($ billions), 2020–24e
    • Norway: credit and charge cards in circulation by issuer (000s), 2020–24e
    • Norway: credit and charge cards transaction value by issuer (NOK billions), 2020–24e
    • Norway: credit and charge cards transaction value by issuer ($ billions), 2020–24e
    • Norway: credit cards in circulation (millions), 2020–28f
    • Norway: credit card transaction volumes, 2020–28f
    • Norway: credit card transaction values (NOK), 2020–28f
    • Norway: credit card transaction values ($), 2020–28f
    • Norway: credit cards in circulation by scheme (millions), 2020–24e
    • Norway: credit card transaction values by scheme (NOK billions), 2020–24e
    • Norway: credit card transaction values by scheme ($ billions), 2020–24e
    • Norway: charge cards in circulation (000s), 2020–28f
    • Norway: charge card transaction volumes, 2020–28f
    • Norway: charge card transaction values (NOK), 2020–28f
    • Norway: charge card transaction values ($), 2020–28f
    • Norway: charge cards in circulation by scheme (000s), 2020–24e
    • Norway: charge card transaction values by scheme (NOK billions), 2020–24e
    • Norway: charge card transaction values by scheme ($ millions), 2020–24e
    • Norway: prepaid cards in circulation (000s), 2020–28f
    • Norway: prepaid card transaction values (NOK billions), 2020–28f
    • Norway: prepaid card transaction values ($ billions), 2020–28f
    • Norway: merchant acquiring transaction volumes (millions), 2020–28f
    • Norway: merchant acquiring transaction values (NOK billions), 2020–28f
    • Norway: merchant acquiring transaction values ($ billions), 2020–28f
    • Norway: acquirers' transaction volumes (millions), 2020–24e
    • Norway: acquirers' transaction values (NOK billions), 2020–24e
    • Norway: acquirers' transaction values ($ billions), 2020–24e
    • Norway: retail outlets and card-accepting merchants (000s), 2020–28f
    • Norway: debit card average interchange fees (%), 2020–24e
    • Norway: credit and charge card average interchange fees (%), 2020–24e
    • Norway: debit card merchant service charge and interchange fee (%), 2020–28f
    • Norway: credit and charge card merchant service charge and interchange fee (%), 2020–28f
    • Norway: retail market by product categories (NOK billions), 2020–28f
    • Norway: retail market by product categories ($ billions), 2020–28f
    • Norway: retail market by service categories (NOK billions), 2019–23
    • Norway: retail market by service categories ($ billions), 2019–23
    • Survey sample across countries

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