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Financial Cards and Payments in Portugal

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The emergence of COVID-19 in Portugal and the subsequent lockdown measures introduced by the government in an attempt to halt the spread of the virus resulted in economic decline and rising unemployment levels, particularly for those in tourism-related sectors and foodservice due to the closure of both borders and non-essential retailers. This scenario severely weakened consumer sentiment and significantly reduced private consumption, resulting in declines across financial cards and payments in...

Euromonitor International's Financial Cards and Payments in Portugal report establishes the size and structure of the market for ATMs cards, smart cards, credit cards, debit cards, charge cards, pre-paid cards and store cards. It looks at key players in the market (issuers and operators), number of cards in circulation, numbers transactions and value of transactions. It offers strategic analysis of sector forecasts and trends to watch.

Product coverage: Financial Cards in Circulation, M-Commerce, Transactions.

Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.

Why buy this report?

Get a detailed picture of the Financial Cards and Payments market; Pinpoint growth sectors and identify factors driving change; Understand the competitive environment, the market's major players and leading brands; Use five-year forecasts to assess how the market is predicted to develop.
Table of Contents
Product Code: FCPT

TABLE OF CONTENTS

List OF CONTENTS AND TABLES

EXECUTIVE SUMMARY

COVID-19 impact on consumer payments

COVID-19 country impact

New law introduced following declaration of State of Emergency in Portugal to encourage greater adoption of contactless technology by both consumers and merchants

Digital payments continue to gain in popularity in 2020

Main issuers retain positions in most important categories, while 2020 sees further push towards digitisation

What next for consumer payments?

MARKET INDICATORS

Table 1 Number of POS Terminals: Units 2015-2020 Table 2 Number of ATMs: Units 2015-2020 Table 3 Value Lost to Fraud 2015-2020 Table 4 Card Expenditure by Location 2020 Table 5 Financial Cards in Circulation by Type: % Number of Cards 2015-2020 Table 6 Domestic versus Foreign Spend 2020

MARKET DATA

Table 7 Financial Cards by Category: Number of Cards in Circulation 2015-2020 Table 8 Financial Cards by Category: Number of Accounts 2015-2020 Table 9 Financial Cards Transactions by Category: Value 2015-2020 Table 10 Financial Cards by Category: Number of Transactions 2015-2020 Table 11 Consumer Payments by Category: Value 2015-2020 Table 12 Consumer Payments by Category: Number of Transactions 2015-2020 Table 13 M-Commerce by Category: Value 2015-2020 Table 14 M-Commerce by Category: % Value Growth 2015-2020 Table 15 Financial Cards: Number of Cards by Issuer 2015-2019 Table 16 Financial Cards: Number of Cards by Operator 2015-2019 Table 17 Financial Cards: Card Payment Transactions Value by Operator 2015-2019 Table 18 Financial Cards: Card Payment Transactions Value by Issuer 2015-2019 Table 19 Forecast Financial Cards by Category: Number of Cards in Circulation 2020-2025 Table 20 Forecast Financial Cards by Category: Number of Accounts 2020-2025 Table 21 Forecast Financial Cards Transactions by Category: Value 2020-2025 Table 22 Forecast Financial Cards by Category: Number of Transactions 2020-2025 Table 23 Forecast Consumer Payments by Category: Value 2020-2025 Table 24 Forecast Consumer Payments by Category: Number of Transactions 2020-2025 Table 25 Forecast M-Commerce by Category: Value 2020-2025 Table 26 Forecast M-Commerce by Category: % Value Growth 2020-2025

DISCLAIMER

GLOBAL MACROECONOMIC ENVIRONMENT

GLOBAL INDUSTRY ENVIRONMENT

SOURCES

Summary 1 Research Sources

KEY DATA FINDINGS

2020 IMPACT

Declines for most popular payment method of debit cards in 2020 as price-sensitive consumers prioritise spending during pandemic

Number of contactless smart cards increases during pandemic due to concerns over virus, while increase in limit on spending through this method drives up average spend per transaction

Caixa Geral de Depositos remains overall leading issuer of debit cards in 2019

RECOVERY AND OPPORTUNITIES

More positive outlook for debit cards over forecast period as Portugal continues to move towards cashless society

Greater use of contactless technology on Portugal's transport systems likely to support greater uptake of debit cards

Further investment by banks in issuing contactless smart cards likely

CATEGORY DATA

Table 27 Debit Cards: Number of Cards in Circulation 2015-2020 Table 28 Debit Cards Transactions 2015-2020 Table 29 Debit Cards in Circulation: % Growth 2015-2020 Table 30 Debit Cards Transactions: % Growth 2015-2020 Table 31 Debit Cards: Number of Cards by Issuer 2015-2019 Table 32 Debit Cards: Number of Cards by Operator 2015-2019 Table 33 Debit Cards Payment Transaction Value by Issuer 2015-2019 Table 34 Debit Cards Payment Transaction Value by Operator 2015-2019 Table 35 Forecast Debit Cards: Number of Cards in Circulation 2020-2025 Table 36 Forecast Debit Cards Transactions 2020-2025 Table 37 Forecast Debit Cards in Circulation: % Growth 2020-2025 Table 38 Forecast Debit Cards Transactions: % Growth 2020-2025

KEY DATA FINDINGS

2020 IMPACT

Weak consumer sentiment as a result of the pandemic and greater restrictions on credit limits by issuers result in decline for credit cards in 2020

More significant decline for commercial credit cards due to limited opportunities for business-related expenses including travel

Despite growing popularity of co-badged credit cards with retailers, closure of non-essential retailers during lockdown likely to reduce transaction value for many players

RECOVERY AND OPPORTUNITIES

Optimistic outlook for credit cards despite likelihood of ongoing concerns regarding over-indebtedness

Issuers of credit cards set to focus on expanding portfolios to further adopt contactless technology

Greater security following PSD2 should lead to greater confidence in using credit cards to make online purchases

CATEGORY DATA

Table 39 Credit Cards: Number of Cards in Circulation 2015-2020 Table 40 Credit Cards Transactions 2015-2020 Table 41 Credit Cards in Circulation: % Growth 2015-2020 Table 42 Credit Cards Transactions: % Growth 2015-2020 Table 43 Commercial Credit Cards: Number of Cards in Circulation 2015-2020 Table 44 Commercial Credit Cards Transactions 2015-2020 Table 45 Commercial Credit Cards in Circulation: % Growth 2015-2020 Table 46 Commercial Credit Cards Transactions: % Growth 2015-2020 Table 47 Personal Credit Cards: Number of Cards in Circulation 2015-2020 Table 48 Personal Credit Cards Transactions 2015-2020 Table 49 Personal Credit Cards in Circulation: % Growth 2015-2020 Table 50 Personal Credit Cards Transactions: % Growth 2015-2020 Table 51 Credit Cards: Number of Cards by Issuer 2015-2019 Table 52 Credit Cards: Number of Cards by Operator 2015-2019 Table 53 Credit Cards Payment Transaction Value by Issuer 2015-2019 Table 54 Credit Cards Payment Transaction Value by Operator 2015-2019 Table 55 Commercial Credit Cards: Number of Cards by Issuer 2015-2019 Table 56 Commercial Credit Cards: Number of Cards by Operator 2015-2019 Table 57 Commercial Credit Cards Payment Transaction Value by Issuer 2015-2019 Table 58 Commercial Credit Cards Payment Transaction Value by Operator 2015-2019 Table 59 Personal Credit Cards: Number of Cards by Issuer 2015-2019 Table 60 Personal Credit Cards: Number of Cards by Operator 2015-2019 Table 61 Personal Credit Cards Payment Transaction Value by Issuer 2015-2019 Table 62 Personal Credit Cards Payment Transaction Value by Operator 2015-2019 Table 63 Forecast Credit Cards: Number of Cards in Circulation 2020-2025 Table 64 Forecast Credit Cards Transactions 2020-2025 Table 65 Forecast Credit Cards in Circulation: % Growth 2020-2025 Table 66 Forecast Credit Cards Transactions: % Growth 2020-2025 Table 67 Forecast Commercial Credit Cards: Number of Cards in Circulation 2020-2025 Table 68 Forecast Commercial Credit Cards Transactions 2020-2025 Table 69 Forecast Commercial Credit Cards in Circulation: % Growth 2020-2025 Table 70 Forecast Commercial Credit Cards Transactions: % Growth 2020-2025 Table 71 Forecast Personal Credit Cards: Number of Cards in Circulation 2020-2025 Table 72 Forecast Personal Credit Cards Transactions 2020-2025 Table 73 Forecast Personal Credit Cards in Circulation: % Growth 2020-2025 Table 74 Forecast Personal Credit Cards Transactions: % Growth 2020-2025

KEY DATA FINDINGS

2020 IMPACT

Charge cards intrinsically linked to business use, resulting in declines in 2020 as lockdown reduces travel and related expenses

Charge cards already experiencing slower growth prior to pandemic due to competition from other financial cards

Consolidated competitive landscape for charge cards with few participants

RECOVERY AND OPPORTUNITIES

Positive outlook for charge cards but category unlikely to surpass pre-pandemic levels until 2024

Ongoing competition and limited need to adopt charge cards by micro businesses will restrict greater potential for category

CATEGORY DATA

Table 75 Charge Cards: Number of Cards in Circulation 2015-2020 Table 76 Charge Cards Transactions 2015-2020 Table 77 Charge Cards in Circulation: % Growth 2015-2020 Table 78 Charge Cards Transactions: % Growth 2015-2020 Table 79 Commercial Charge Cards: Number of Cards in Circulation 2015-2020 Table 80 Commercial Charge Cards Transactions 2015-2020 Table 81 Commercial Charge Cards in Circulation: % Growth 2015-2020 Table 82 Commercial Charge Cards Transactions: % Growth 2015-2020 Table 83 Charge Cards: Number of Cards by Issuer 2015-2019 Table 84 Charge Cards: Number of Cards by Operator 2015-2019 Table 85 Charge Cards Payment Transaction Value by Issuer 2015-2019 Table 86 Charge Cards Payment Transaction Value by Operator 2015-2019 Table 87 Commercial Charge Cards: Number of Cards by Issuer 2015-2019 Table 88 Commercial Charge Cards: Number of Cards by Operator 2015-2019 Table 89 Commercial Charge Cards Payment Transaction Value by Issuer 2015-2019 Table 90 Commercial Charge Cards Payment Transaction Value by Operator 2015-2019 Table 91 Forecast Charge Cards: Number of Cards in Circulation 2020-2025 Table 92 Forecast Charge Cards Transactions 2020-2025 Table 93 Forecast Charge Cards in Circulation: % Growth 2020-2025 Table 94 Forecast Charge Cards Transactions: % Growth 2020-2025 Table 95 Forecast Commercial Charge Cards: Number of Cards in Circulation 2020-2025 Table 96 Forecast Commercial Charge Cards Transactions 2020-2025 Table 97 Forecast Commercial Charge Cards in Circulation: % Growth 2020-2025 Table 98 Forecast Commercial Charge Cards Transactions: % Growth 2020-2025

KEY DATA FINDINGS

2020 IMPACT

Closed loop pre-paid cards more significantly impacted by pandemic and lockdown due to dominance of transportation cards

Open loop pre-paid cards records further rise in number of cards in 2020 driven by move away from cash, supporting demand for general purpose reloadable cards

Consolidated competitive landscape within pre-paid cards although smaller players make gains in number of open loop cards in circulation

RECOVERY AND OPPORTUNITIES

Improvements heading into 2021 although closed loop pre-paid cards unlikely to return to pre-pandemic levels

Alternative transportation and toll apps from Via Verde likely to lead to further development of digitalisation in move away from physical cards

Early revival for open loop predicted, driven by popularity of general purpose reloadable cards

CATEGORY DATA

Table 99 Pre-paid Cards: Number of Cards in Circulation 2015-2020 Table 100 Pre-paid Cards Transactions 2015-2020 Table 101 Pre-paid Cards in Circulation: % Growth 2015-2020 Table 102 Pre-paid Cards Transactions: % Growth 2015-2020 Table 103 Closed Loop Pre-paid Cards Transactions 2015-2020 Table 104 Closed Loop Pre-paid Cards Transactions: % Growth 2015-2020 Table 105 Open Loop Pre-paid Cards Transactions 2015-2020 Table 106 Open Loop Pre-paid Cards Transactions: % Growth 2015-2020 Table 107 Pre-paid Cards: Number of Cards by Issuer 2015-2019 Table 108 Pre-paid Cards: Number of Cards by Operator 2015-2019 Table 109 Pre-paid Cards Transaction Value by Issuer 2015-2019 Table 110 Pre-paid Cards Transaction Value by Operator 2015-2019 Table 111 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2015-2019 Table 112 Closed Loop Pre-paid Cards: Number of Cards by Operator 2015-2019 Table 113 Closed Loop Pre-paid Cards Transaction Value by Issuer 2015-2019 Table 114 Closed Loop Pre-paid Cards Transaction Value by Operator 2015-2019 Table 115 Open Loop Pre-paid Cards: Number of Cards by Issuer 2015-2019 Table 116 Open Loop Pre-paid Cards: Number of Cards by Operator 2015-2019 Table 117 Open Loop Pre-paid Cards Transaction Value by Issuer 2015-2019 Table 118 Open Loop Pre-paid Cards Transaction Value by Operator 2015-2019 Table 119 Forecast Pre-paid Cards: Number of Cards in Circulation 2020-2025 Table 120 Forecast Pre-paid Cards Transactions 2020-2025 Table 121 Forecast Pre-paid Cards in Circulation: % Growth 2020-2025 Table 122 Forecast Pre-paid Cards Transactions: % Growth 2020-2025 Table 123 Forecast Closed Loop Pre-paid Cards Transactions 2020-2025 Table 124 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2020-2025 Table 125 Forecast Open Loop Pre-paid Cards Transactions 2020-2025 Table 126 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2020-2025

KEY DATA FINDINGS

2020 IMPACT

Despite greater demand through e-commerce during pandemic, prioritising of expenditure amongst price-sensitive consumers results in declines for store cards

Store cards already struggling prior to pandemic due to growing competition from co-badged credit cards

Leading issuers strengthen positions in 2019 as competitors continue to focus on credit cards

RECOVERY AND OPPORTUNITIES

Further declines predicted for store cards heading into forecast period but more positive outlook from 2023

Co-badged credit cards will continue to pose threat to store cards but loyalty programmes and interest-free periods will remain attractive to customers

Further consolidation likely amongst issuers of store cards over the forecast period

CATEGORY DATA

Table 127 Store Cards: Number of Cards in Circulation 2015-2020 Table 128 Store Cards Transactions 2015-2020 Table 129 Store Cards in Circulation: % Growth 2015-2020 Table 130 Store Cards Transactions: % Growth 2015-2020 Table 131 Store Cards: Number of Cards by Issuer 2015-2019 Table 132 Store Cards: Payment Transaction Value by Issuer 2015-2019 Table 133 Forecast Store Cards: Number of Cards in Circulation 2020-2025 Table 134 Forecast Store Cards Transactions 2020-2025 Table 135 Forecast Store Cards in Circulation: % Growth 2020-2025 Table 136 Forecast Store Cards Transactions: % Growth 2020-2025