Consumer Payments Country Snapshot: Spain 2016

Consumer Payments Country Snapshot: Spain 2016


The Spanish payments market was significantly impacted by the economic crisis. While the crisis affected banks’ reputations, it also accelerated their efforts to rejuvenate in order to regain the trust of Spanish consumers. CaixaBank, BBVA, Banco Popular, and Banco Santander are the leading players in this process. The Spanish economy has only recorded positive values since 2014, raising the employment rate and stimulating consumption. This has created an environment where consumers are increasingly confident about the use of financial technologies through online commerce, digital wallets, and contactless cards.

Key Findings

  • With very limited growth forecast for the number of cards in use, providers have the opportunity to improve profitability by increasing frequency of use among consumers through low annual fees and discounts/rewards. The key acquisition channel is the bank branch, with over half of Spanish credit card holders applying for their credit card at a bank branch.
  • Spanish consumers are particularly comfortable with online commerce, and this channel will report significant growth over the next five-year period. While 32% of the number of transactions and over 11% of the value of transactions are made using cash or cheques, there is an increasing opportunity for mobile payment providers to promote comfortable, convenient, and secure products (features most appreciated by consumers using credit cards online).
  • mPOS has the opportunity to bring significant change to Spain’s payments infrastructure. In order to increase the adoption of mPOS among small merchants, providers such as SetPay and Spire Payments are making low-cost terminals available. It is expected that this will grow the electronic payments network and will be a welcome boost to card-based payment acceptance.

This report examines the consumer payments market in Spain, considering payment cards, online payments, P2P payments, and newer payment technologies such as mobile wallets and contactless. This report also examines the regulations in force in the market which players must comply with, and how these have changed in recent years.
  • Analyzes the major payment card types in terms of both card holding and usage.
  • Identifies the major competitors in card issuing and how their positions in the market have changed over the last five years.
  • Considers consumer attitudes towards prepaid cards, P2P tools, mobile payment tools, and contactless cards, and how companies in Spain are deploying these tools to meet customer needs.
  • Explores the online payment market in Spain by merchant type and payment tool, as well as providing a five-year forecast for the development of the market.
  • Considers the regulations affecting the payments market and how they are likely to affect both incumbents and disruptors.
Reasons To Buy
  • Understand the key facts and figures in the consumer payments market in Spain.
  • Find out what products the major competitors are launching in the market and plan your strategy accordingly.
  • Discover consumer sentiments towards various payment tools in Spain and use this knowledge to inform product design.
  • Learn about the key regulatory requirements affecting Spanish payments players and any recent or upcoming changes to those requirements.


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