DUBLIN–(BUSINESS WIRE)–The 
The report provides detailed analysis of market trends in the Belgian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry including cards, cash, credit transfers, direct debits and cheques during the review-period (2019-23e).
Belgium has a well-established banking system and a high-banked adult population. The country is observing a gradual shift from traditional cash to electronic means of payment. To aid the development of digital payments, the European Payments Initiative (EPI) announced the launch of its mobile wallet solution Wero, in September 2023. The platform will be provided through EPI-associated member-bank and mobile apps. During its first stage, the focus will be on P2P, and it will be subsequently expanded to include online and mobile payments before finally enabling payments at the POS. The mobile wallet is set to launch initially in France, Germany, and Belgium in mid-2024, before being expanded to other European countries.
The Belgian ecommerce market is expanding at a brisk pace. Seeking to seize the opportunities presented by this burgeoning market, Amazon initiated its expansion into the country in October 2022, by launching a dedicated Brands of Belgium section. This featured around 100 sellers offering a wide variety of products, including food and drinks, fashion accessories, healthcare, and home and kitchen products. Consumers can become Amazon Prime members, which gives them access to Amazon’s video-streaming service and Prime Gaming. Meanwhile, in May 2022, Klarna introduced a livestream shopping service in Belgium and many other markets, giving online users an interactive, virtual in-store experience.
In Belgium, payment cards are the most popular payment option due to their security features and the availability of reward benefits. To offer enhanced security to card holders, banks and other card issuers in Belgium have been replacing Maestro cards with the Debit Mastercard since July 1, 2023, and this transition will be spread over a period of five years. Banks involved in the shift include Argenta, Bank van Breda, Beobank, Belfius, BNP Fortis, ING, KBC (KBC, CBC, KBC Brussels), Santander Consumer Bank, and Banque Nagelmackers.
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 (2024-28). It also offers information on the country’s competitive landscape, including market shares of issuers and schemes.
The report brings together the publisher’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.
Scope
- Current and forecast values for each market in the Belgian’ cards and payments industry, including debit, credit and charge cards.
- Detailed insights into payment instruments including cards, cash, credit transfers, direct debits 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 Belgian 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 Belgian 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:
- BNP Paribas
- Belfius Bank
- Credit Mutuel
- KBC Bank
- ING Bank
- Argenta
- bpost
- AXA bank
- Mastercard
- Visa
- American Express
- Google Pay
- Apple Pay
- Paypal
- Payconiq
- Paysafecard
- Riverty
- Klarna
For more information about this report visit https://www.researchandmarkets.com/r/uxv8nb
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Read the orginal article: https://siliconcanals.com/news/business-wire/belgium-cards-and-payments-industry-report-2024-market-trends-opportunities-and-risks-2019-2023-2024-2028-researchandmarkets-com/
