Norway Cards and Payments Market Opportunities and Risks Report 2023-2024 and 2027: Focus on BNPL, Cards, Alternative Payments, In-store, Online and Mobile, Infrastructure and Regulations
Dublin, April 25, 2024 (GLOBE NEWSWIRE) -- The "Norway Cards and Payments: Opportunities and Risks to 2027" report has been added to * ResearchAndMarkets.com's* offering.
The 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 cards, credit transfer, direct debits, cash, and cheques during the review-period (2019-23e).
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 (2023e-27). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.
The report brings together the analyst'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.
*Report Highlights*
· Norges Bank has been steadily increasing interest rates to curb inflation, revising its policy rate to 4.5% in February 2024, 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.
· In May 2023, biometric payment services provider IDEX Biometrics partnered with payment services provider STMicroelectronics to launch payment cards integrated with STPay-Topaz-Bio biometric payment technology. The cards are integrated with an IDEX Biometric system on-chip fingerprint sensor, with card holders' fingerprint data stored within the card. To make a payment, card holders place their finger on the card sensor, then tap the card on the contactless reader. Biometric authentication replaces the need to enter a PIN, enabling card holders to make payments of any amount (unlike traditional contactless payment cards).
· Growth in POS terminal adoption is supported by the availability of low-cost mobile POS solutions. The growing payment card market has attracted new entrants to the Norwegian mobile POS space. SumUp offers its mobile card readers in Norway. These readers enable merchants to accept all types of payments, including contactless, chip and PIN, Google Pay, and Apple Pay. Similarly, in June 2022, Danish fintech Vibrant launched mobile-based POS solutions for SMEs in five European countries, including Norway. The service enables merchants to use Android smartphones and tablets to receive contactless payments from customers.
*Scope*
· 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 cards, 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 Topics Covered:*
· Executive Summary
· Market Overview
· Payment Instruments
· Card-Based Payments
· 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, but is not limited to:*
· CDNB
· Nordea
· SpareBank1
· Nexi
· Eika
· Danskebank
· Elavon
· Swedbank
· Worldline
· Nets
· Bambora
· DNB Bank
· SEB
· Bank Norwegian
· EnterCard
· Santander
· BankAxept Visa
· American Express
· Mastercard
For more information about this report visit https://www.researchandmarkets.com/r/vzrhir
*About ResearchAndMarkets.com*
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