Spain Cards and Payments – Opportunities and Risks to 2026

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Spain Cards and Payments Market Report Overview

The annual value of card transactions in the Spain cards and payments market was valued at $322.6 billion in 2022 and is expected to grow at a CAGR of more than 5% during 2022-2026. Cash remains the preferred method of payment in Spain, accounting for a major share of total payment transaction volume in 2022e.

The Spain cards and payments market research report provides a detailed analysis of market trends in the Spain cards and payments industry. The report provides values and volumes for several key performance indicators in the industry, including cash, cards, direct debit, 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.

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

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

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Spain Cards and Payments Market Dynamics

The country’s strong e-commerce market has encouraged foreign retailers to launch online stores in Spain. French furniture retailer Maisons du Monde launched an online store in the country in April 2022. In November 2022, German retailer Aldi announced the launch of its non-food e-commerce platform in Spain.

Contactless payments for public transport are also gradually gaining traction in Spain. In August 2022, payment company SICE partnered with Metropolitan Transport to roll out a contactless payment system in Granada for the bus line linking the city with its airport. Previously, in March 2021, Banco Santander partnered with Mastercard to install POS Transportes Urbanos de Santander terminals across all Santander Urban Transport buses, enabling passengers to pay for tickets using contactless payment cards or smartphones.

Spain Cards and Payments Market Segmentation by Payment Instruments

The key payment instruments in the Spain cards and payments market are cash, cards, direct debits, credit transfer, and cheques. Cash remains the preferred method of payment and is generally favored for low- value, day-to-day transactions. However, with the growing acceptance of payment cards by retailers and the advent of contactless technology, card-based payments will gradually displace cash.

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

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

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Spain Cards and Payments Market Segments

The key segments in the Spain cards and payments market are card-based payments, ecommerce payments, in-store payments, BNPL, mobile payments, P2P payments, bill payments, and alternative payments.

Despite Spain being a cash-dominated society, cash payments are set to decline in line with the rising consumer preference for electronic payments. This trend has become more prevalent since the outbreak of COVID-19, with banks and merchants urging consumers to use non-cash payment methods. With the growing consumer preference for card payments, increased adoption of mobile wallets, expanding payments infrastructure, rising digitalization of payments, and the growing ecommerce market, electronic payments are set to further displace cash transactions going forward.

Spain Cards and Payments Market - Competitive Landscape

Some of the leading players in the Spain cards and payments market are BBVA, Bankinter, EVO Payments, Banco Sabadell, and Bankia among others. To help merchants capitalize on ecommerce growth, BBVA offers Global Gateway – a global ecommerce payment solution built on Mastercard’s Payment Gateway Services infrastructure. The gateway enables partner online retailers to accept all types of payment solutions, including debit, credit, charge, and prepaid cards as well as bank transfers.

To know more about leading Spain cards and payments market players, download a free report sample

Spain Cards and Payments Market Overview

Market Size (2022) $322.6 billion
CAGR >5%
Forecast Period 2022-2026
Historical Period 2018-2021
Key Payment Instruments Cash, Cards, Direct Debits, Credit Transfer, and Cheques
Key Segments Card-Based Payments, Ecommerce Payments, In-Store Payments, BNPL, Mobile Payments, P2P Payments, Bill Payments, and Alternative Payments
Leading Players BBVA, Bankinter, EVO Payments, Banco Sabadell, and Bankia

Segments Covered in the Report 

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

  • Cash
  • Cards
  • Direct Debits
  • Credit Transfer
  • Cheques

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

  • Card-Based Payments
  • Ecommerce Payments
  • In-Store Payments
  • BNPL
  • Mobile Payments
  • P2P Payments
  • Bill Payments
  • Alternative Payments

Scope

This report provides:

  • Current and forecast values for each market in Spain’s cards and payments industry, including debit, credit, and charge cards.
  • Detailed insights into payment instruments including cash, cards, direct debits, credit transfer, 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 Spain’s 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 Spain’s cards and payments industry.

Reasons to Buy

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

Comercia Global Payments
Santander
CaixaBank
BNP Paribas
Bankinter
Banco Sabadell
BBVA
Santander
EVO Payments
Bankia
Sistemapay
Visa
Mastercard
Bizum
Klarna
SeQura
ViaBill

Table of Contents

Market Overview

Payment Instruments

Card-Based Payments

Merchant Acquiring

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

Frequently asked questions

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