Debit cards remained a significant force in Germany's financial landscape in 2024, despite this card type’s dominance being challenged by the rise of digital wallets and contactless payment methods. While debit cards still enjoys widespread use, and accounts for a significant share of store-based retail, the category’s growth has been slowing as consumers embrace newer technologies.

Debit cards in South Africa continued to record strong growth in 2024, supported by intensified government efforts to boost local financial inclusion beyond access to social security benefits offered by SASSA cards. Demand for debit cards has also benefited from infrastructure developments, supported by diversified offerings from emerging players. One example is PayFast, which has introduced free in-store POS terminals in South Africa, a significant step for a company primarily offering online p

Debit cards in Morocco is set to see growth in both cards in circulation and transaction volumes and values in 2024, and remain the most popular card type in Morocco, thanks to the safety and reliability of paying with existing money, rather than borrowed funds. This card type also continues to benefit from the expansion of financial inclusion, with such offerings often positioned as the primary entry point to banking services. Demand is also supported by investments in the payment infrastructur

Debit cards remain a critically important component of the landscape in financial cards and payments in the US. Not only are they the most common financial cards used for consumer payments in the US, with the highest transaction volumes in 2024, debit card is also the most important form of payment across all payment types for consumers in the US. In 2024, there were enough debit cards in circulation in the US for every single person to have at least two cards. The number of retailers and other

Denmark’s debit card market turned in a record-breaking performance in 2024. The total number of personal and commercial debit cards surpassed one million more than five years earlier, with the number of debit cards already exceeding the Danish population, reflecting the widespread adoption of this payment method. Alongside the increasing number of cards, overall category transactions are also on the rise. While the COVID-19 pandemic temporarily impacted debit card usage - particularly for comme

While debit cards in the Czech Republic registered another positive performance in 2024, circulation numbers and volume and current value transactions grew at more modest rates than in 2023. This was mainly due to increasing maturity, though the slowdown also reflected growing competition from open loop pre-paid cards, credit cards and electronic direct/ACH transactions that can be made via digital wallets or mobile apps and do not require financial cards. The pace of expansion remained robust o

Debit card transactions began to normalise in 2024, both in volume and value terms, following the strong growth recorded during Nigeria’s monetary crisis in 2022-23. Robust demand can also be linked to the ongoing shift towards mobile transactions and digital payment solutions, thanks to higher smartphone penetration and the expansion of fintech products. For example, 3.0 Verse has partnered with Pal Remit to launch virtual debit cards in Nigeria. Despite the growth in digital payments, the numb

In 2024, debit cards in Israel recorded positive growth amid economic uncertainty. Local consumers have been shifting towards debit cards over the review period. While credit cards have gained traction in recent years, the high interest rates associated with their use, combined with ongoing economic uncertainty, have shifted consumer preference more decisively towards debit cards. As a safer and more predictable financial tool, debit cards are increasingly viewed as the practical choice for mana

Debit cards continued to grow in Greece in 2024, in a context of an improving Greek economy and expanding card payments – which debit cards spearhead. After a long period of multiple global crises, relative stability and mild growth of the Greek economy is providing the context for increased consumer spending. On a negative note, spending is also boosted by inflated prices of basic goods due to high inflation (cost-of-living crisis) which puts intense pressure on Greek households.

Debit cards remain the Swedish consumers’ favourite payment method in 2024, representing nearly three-quarters of card payment transactions. By comparison, the share of cash is exceptionally low in Sweden. The volume of debit card transactions rose steadily in 2024 due to the ease of using contactless technology and mobile wallets, with more consumers using them in place of cash. Steady growth is also evident in terms of debit card numbers. Debit cards continue to be heavily dominated by persona

Debit cards in Colombia posted improved results in terms of growth in volume transactions and card circulation numbers in 2024, while current value transactions returned to positive territory after having declined in 2023. This performance was underpinned by the sustained easing of inflationary pressures and an acceleration in the pace of economic expansion, which bolstered confidence and spending among households and companies. However, usage levels were also buoyed by enduring budget-conscious

Debit cards remained the dominant form of payment in Ukraine in 2024, particularly as consumers continued to increasingly shift away from cash. Virtually all newly issued debit cards in Ukraine now feature contactless functionality, and the majority of point-of-sale (POS) terminals are equipped to support these payments. Contactless transactions are especially prevalent in public transportation, where their adoption has grown significantly. Municipal transport systems, such as Kyiv’s overground

In 2024, debit cards in Turkey maintained on an upward trajectory building on the momentum gained in previous years. The waning impact of the pandemic has accelerated the transition from cash to digital payments and particularly debit cards. The widespread availability of contactless debit cards has encouraged consumers to use their debit cards for small purchases, while saving their credit cards for more expensive purchases. Leading banks in Turkey, such as YapiKrediBankasi, HalkBankasi, Akbank

Debit cards were impacted by rising banking fees in Hungary in 2024, prompting consumers to reevaluate their banking partner. Banks have been passing on their increased expenses to clients, directly impacting fees related to current accounts and debit cards. Many of these fees have risen at the rate of 2023 inflation, which was significant, prompting some customers to consider switching banks. The increase in transaction fees payable by banks, as of 1 August, started to be passed on to end-users

New legislation makes it obligatory for all merchants in Romania to accept card payments and this includes debit cards. The law came into effect in June 2024 and is expected to drive growth in the number of debit card transactions over the upcoming forecast period. Consumers are already using their debit card for smaller purchases in 2024, with the average value of debit card transaction falling. Consumers are taking advantage of the opportunity to pay with a card for items of lower value.

The use of debit cards continued to grow in Peru in 2024, both in the number of transactions and in value, continuing the trend observed after the most critical stages of the COVID-19 pandemic. This growth has been higher than the growth observed for credit cards, with consumers more reticent about using the latter due to fear of inability to meet repayments in relation to the high interest rates seen in credit cards. Meanwhile, debit cards are preferred due to offering better finance management

While debit cards in Italy has performed positively in 2024, growth rates for volume and current value transactions are set to fall well below those recorded the previous year. Growth in the number of cards in circulation has also tapered off, albeit only marginally. This is partly explained by maturity, with transaction volumes and circulation numbers still dwarfing those of other card types. However, the slowdown also reflects the improved macroeconomic climate, in that as confidence and purch

Debit cards in Portugal showed strong growth in 2024, despite already-high penetration, with the number of cards recording double-digit rises. Cross-selling strategies allied to the change in the national payments ecosystem have boosted the positive trend, as has the growing preference for card usage over cash. Though inflation has pushed up prices, the use of debit cards for micropayments and daily routine payments contributed to a downturn in value per transaction, particularly for personal ca

There was a continued increase in the use of debit cards in the Netherlands in 2024, although cash also remains popular as a payment method in the country. However, we are also seeing a slowdown in the average transaction amount in debit card spending, in line with the increasing transaction volume. This is indicative of smaller but more frequent transactions, as consumers use debit cards more often for everyday purchases.

Whilst debit cards remain popular for usage in Egypt, debit cards’ usage remained restricted to local transactions in 2024. As of October 2023, the Central Bank of Egypt (CBE) limited the use of debit cards in Egypt to the Egyptian Pound (EGP). This means that Egyptian debit cards can no longer be used outside of Egypt or for foreign currency transactions. The move aims to reduce pressure on foreign currency reserves and prevent the misuse of debit cards. However, similar restrictions placed on

The competitive landscape for debit cards in Canada has seen shift in share in 2024, resulting from RBC’s acquisition of HSBC - a deal finalised on 1 April. All HSBC clients have been transferred to RBC, new chequing accounts have been opened and new debit cards have been issued for each new client. While the acquisition has not had a big impact on total number of cards, transactions and values in the market, RBC’s share has increased and is set to continue expanding throughout the forecasted pe

Debit cards continue to be the favourite payment method among Norwegians in 2024 with debit cards witnessing steady growth in current value terms. Above average inflation was partly responsible for the growth in transaction spend, which slowed compared to recent years. The number of debit cards in circulation reached a record level during 2024 following strong volume growth over the review period. Much of the adult population is banked since debit cards are accepted nearly everywhere. Indeed, me

Debit cards in Poland in 2024 benefitted from waning interest in cash payments, with both consumers and companies shifting more towards modern methods. Since 2022, businesses in Poland have been obliged to ensure that customers can pay onsite – mandatory regarding business premises and in vehicles providing passenger transport services. Players must also record sales through cash registers.

Debit cards in France saw its number of cards almost stagnate in 2024, while transactions rose robustly and value sales recorded double-digit growth. The first trend is mainly because of a further increase in the unit prices of debit cards – just one year after the government’s demand for price moderation, French banks increased their prices in 2024. For the customer, this translated into higher account maintenance costs as well as higher bank card prices. In addition, banks’ commission from ATM