Credit and Debit Card Market in Spain Market Report, Banco de España, European Central Bank Eurosystem
The credit and debit card market in Spain experienced some changes in 2022 compared to the previous year, according to data from Banco de España and Eurosistema. The number of credit cards increased by 7.3%, while the number of debit cards decreased by 4.8%. When both credit and debit cards are taken into account, the total number of cards only saw a modest 0.5% increase.
The total number of transactions at point-of-sale (POS) terminals increased by a substantial 21.1% in 2022. However, the total value of POS transactions increased by a lower percentage of 19.6%. When looking specifically at credit cards, the value of POS transactions increased by 9.3%. On the other hand, the value of POS transactions made with debit cards increased by a higher percentage of 26.6%.
The number of POS terminals also increased, but at a slower pace of 6.8%. Meanwhile, the number of ATM transactions increased by 4.3%, and the total value of ATM transactions increased by 7.8%. However, the total number of ATMs decreased by 5.1%.
The changes in the credit and debit card market can be attributed to a number of factors, such as changes in consumer behavior, new technologies, and economic conditions. The increase in the number of credit cards may be due to promotions and other incentives offered by banks to encourage credit card usage. On the other hand, the decrease in the number of debit cards may be due to an increase in digital payments and other alternative payment methods. The increase in transactions at POS terminals may also be due to a shift towards cashless payments.
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