The report provides market analysis, information and insights into Luxembourg's cards and payments market, including:
- Current and forecast values for each category of Luxembourg's cards and payments industry including debit cards, credit cards and prepaid cards
- Comprehensive analysis of the industry’s market attractiveness and future growth areas
- Analysis of various market drivers and regulations governing Luxembourg's cards and payments industry
- Detailed analysis of the marketing strategies adopted for selling debit and credit cards used by various bankers and other institutions in the market
- Comprehensive analysis of consumer attitudes and their buying preferences for cards
- Competitive landscape of Luxembourg's cards and payments industry
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Luxembourg’s card payments channel declined during the 2008–2012 review period in terms of the number of cards in circulation. The discontinuation of the Mini-cash electronic payment system in 2011 adversely affected the prepaid cards category in the country, which resulted in a decline in the overall card payments channel. The debit and credit card categories, however, grew at a healthy pace during the review period. In terms of the number of cards in circulation, the card payments channel declined marginally from 2.4 million cards in 2008 to 2.3 million in 2012, at a CAGR of -1.61%. The channel is expected to grow from 2.4 million in 2013 cards to 2.6 million in 2017, at a CAGR of 2.94% over the forecast period. Growth in internet penetration has resulted in increased online retail sales in the country.
To benefit from this, banks are increasingly expanding their internet banking infrastructure and offering web payment cards. The increasing acceptance of cards at retail outlets and a consumer shift towards making purchases using cards resulted in an increasing number of POS transactions during the review period. The number of POS transactions grew at a CAGR of 3.37% during the review period, and is projected to grow at a CAGR of 2.80% over the forecast period, from 45.4 million transactions in 2013 to 50.7 million in 2017.
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