Belgium Cards & Payments: Opportunities and Risks to 2023

Belgium Cards & Payments: Opportunities and Risks to 2023

Summary

GlobalData’s 'Belgium Cards & Payments: Opportunities and Risks to 2023' report provides detailed analysis of market trends in Belgium's cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, cards, credit transfers, direct debits, and cheques during the review-period (2015-19e).

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 (2019e-23f). 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.

This report provides top-level market analysis, information and insights into Belgium's cards and payments industry, including -
- Current and forecast values for each market in Belgium's cards and payments industry, including debit and credit cards.
- Detailed insights into payment instruments including cash, cards, credit transfers, direct debits, and cheques. It also, includes an overview of the country's key alternative payment instruments.
- E-commerce market analysis.
- Analysis of various market drivers and regulations governing Belgium's cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.

Scope

- Contactless technology is also now being extended to public transportation in Belgium. Brussels’ transport operator, STIB/MIVB, have started to install contactless terminals in some metro stations. The company has purchased 6,200 contactless terminals to be installed over the entire metro network. It is currently under a trial phase, and the system is expected to become operational by May 2020.
- To encourage point of sale (POS) terminal installation and card acceptance among Belgian SMEs, sole traders, and self-employed individuals, the government introduced a new tax relief measure for merchants and small businesses that purchase a POS terminal between January 2018 and December 2019. Any small business or sole trader registered in Belgium can claim back 20% of the purchase costs by declaring the investment in their annual tax return.
- To further strengthen its presence in the Belgian market, local debit card scheme provider, Bancontact, and payment solutions provider, Payconiq Belgium, merged into a single entity, Bancontact Payconiq Company in 2018. The new entity also offers a combined mobile app called Payconiq by the Bancontact app. Launched in January 2019, it allows consumers to pay in store by scanning a QR code and confirming the transaction with a PIN. The app allows users to store their Bancontact cards and make contactless payments at merchants. Users can also make payments by scanning the merchant’s QR code.

Reasons to Buy

- Make strategic business decisions, using top-level historic and forecast market data, related to Belgium's cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in Belgium's cards and payments industry.
- Assess the competitive dynamics in Belgium's cards and payments industry.
- Gain insights into marketing strategies used for various card types in Belgium.
- Gain insights into key regulations governing Belgium's cards and payments industry.