A news release from Retail Banking Research reported that the number of payment cards in Western Europe increased to 884 million in 2010. This information comes from the latest edition of RBR’s biennial western European payment cards study “Payment Cards Western Europe 2012."
Other key items from the report:
- The total number of cards in the region rose by 2 percent (19 million cards) in 2010, after a flat 2009 when many consumers and businesses turned to cash and while banks rationalized their card portfolios.
- Prepaid cards — issued in 12 of the 17 markets covered in the research — were the fastest growing card type, although they still account for only 2 percent of cards.
- Debit cards still account for more than half of payment cards in Western Europe. The number of debit cards in the region increased by 4 percent in 2010, similar to the pace seen in the pre-crisis 2008.
- The number of payments made with cards in Western Europe totaled 37 billion in 2010. Card payments grew faster than card numbers, as cards increasingly displace cash at retailers.
In addition to card issuing, the study covers merchant acquiring and transaction processing. More information about the RBR study Payment Cards Western Europe 2012 can be obtained at rbrlondon.com.
For more information on this topic, visit our trends/statistics research center.
