Belgium Cards and Payments – Opportunities and Risks to 2026

Belgium Cards and Payments Market Report Overview

The Belgium cards and payments market size was valued at $141.4 billion in 2022 and is expected to achieve a CAGR of more than 6% during 2022-2026. The Belgian payment card market can be characterized as rapidly growing and innovative. Card penetration in the country stood at 2.2 cards per individual in 2022e. Persistent efforts from Belgian financial authorities and banks to ensure a robust banked population, a high level of awareness of electronic payments, and increasingly developing payment acceptance infrastructure have been successful in encouraging consumers to use electronic payment methods for day-to-day transactions.

The Belgium cards and payments market research report provides a detailed analysis of market trends in the Belgium cards and payments industry. The report provides values and volumes for several key performance indicators in the industry, including cards, direct debits, credit transfers, and cheques during the review period. It 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. Moreover, it offers information on the country’s competitive landscape, including market shares of issuers and schemes.

Belgium Cards and Payments Market Outlook, 2022-2026 ($ Billion)

To gain more information on the Belgium  cards and payments market forecast, download a free report sample

Belgium Cards and Payments Market Dynamics

The number of POS terminals recorded a significant growth rate, increasing from 2018 to 2022e. This can be attributed to efforts by the government of Belgium as well as the private players. For instance, in July 2022, the government passed legislation requiring all merchants (including SMEs) to provide at least one electronic payment system. To capitalize, in October 2022, Samsung partnered with Viva Wallet and Mobco to launch the Viva Wallet POS app. The app enables merchants to convert Samsung smartphones into mobile POS devices.

Belgium Cards and Payments Market Segmentation by Payment Instruments

The key payment instruments in the Belgium cards and payments market are cards, cash, credit transfers, direct debits, and cheques. In 2022, credit transfer was the major payment instrument in terms of value.

Belgium Cards and Payments Market Analysis by Payment Instruments, 2022 (%)

For more payment instrument insights into the Belgium cards and payments market, download a free report sample

Belgium Cards and Payments Market Segments

The key segments in the Belgium cards and payments market are card-based payments, e-commerce payments, in-store payments, buy now pay later, mobile payments, p2p payments, bill payments, and alternative payments.

Belgium Cards and Payments Market - Competitive Landscape

Some of the leading players in the Belgium cards and payments market are BNP Paribas, Belfius Bank, Credit Mutuel, KBC Bank, Mastercard, Visa, and American Express among others.

Belgium Cards and Payments Market Report Overview

Segments Covered in the Report

Belgium Cards and Payments Instruments Outlook (Value, $ Billion, 2018-2026)

• Cards
• Cash
• Credit Transfers
• Direct Debits
• Cheques

Belgium Cards and Payments Market Segments Outlook (Value, $ Billion, 2018-2026)

• Card-Based Payments
• E-Commerce Payments
• In-Store Payments
• Buy Now Pay Later
• Mobile Payments
• P2 Payments
• Bill Payments
• Alternative Payments

Scope

This report provides:

• Current and forecast values for each market in the Belgium cards and payments industry, including debit and credit cards.
• Detailed insights into payment instruments including cards, direct debits, credit transfers, 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 the Belgium cards and payments industry.
• Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.
• Comprehensive analysis of consumer attitudes and buying preferences for cards.
•  The competitive landscape of the Belgium cards and payments industry.

Reasons to Buy

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