Spanish cards and payments market to flourish with the use of social media by leading banks

Spain card payments market demonstrated moderate growth during the review period. The anticipated growth rate of the Spanish economy, the card payments channel is also expected to grow at a similar rate over the forecast period. The prepaid cards category is expected to show the highest growth. These are expected to be preferred over debit or credit cards as they have set spending limits, and other benefits such as rewards or loyalty programs. The volume of prepaid cards is expected to post a CAGR of 12% over the forecast period, and transaction value is expected to post a CAGR of 14%.

In terms of transaction value, the overall card payments channel is expected to show growth, largely due to attempts by the government and banks to inject fresh funds into the economy to stimulate growth. The belt-tightening attitude in consumer spending is, however, expected to prevail, with the prepaid cards category. The use of social media to reach target audiences is gradually increasing among Spanish banks such as Bankinter, CaixaBank, BBVA and Banco Santander. With a number of banks strengthening their presence on social media to engage with target audiences, this will have a positive impact on the cards and payments industry.

Check out For Sample Report Here: https://marketdataforecast.com/market-reports/Spain-Cards-and-Payments-Market-6929/request-sample

A number of infrastructure drivers are expected to spur the growth of the cards and payments industry in Spain the growth of mobile phone use and the popularity of smartphones have led to robust growth in mobile payments, which posted a CAGR of 130%. Other important infrastructure drivers include internet and mobile penetration and the emergence of advanced payment infrastructure such as ATMs enabled with contactless technology. The positive growth prospects for online retail are also expected to encourage growth in prepaid and debit card categories, and banks are expanding their portfolios to include cards with online functionality. Anticipated improvements in economic indicators such as inflation, GDP and per capita income are some of the macro economic factors expected to support card volume growth over the forecast period.

Access full Report Description, TOC, Table of Figure, Chart, etc. @ https://marketdataforecast.com/market-reports/Spain-Cards-and-Payments-Market-6929/

Related reports: Netherlands Cards and Payments Market, Norway Cards and Payments Market, Indonesia Cards and Payments Market

About MarketDataForecast™
Market Data Forecast is a market research firm offering syndicated research, consults and industry newsletters across various domains & verticals. With a well-established in-house team of experts from diverse fields and outsource research network across 100+ countries, we are the sole research providers for the majority of Fortune 500 companies. Along with the standards of reports being on par excellence, our unique services like free customization, analyst support for the period of six months post to the purchase will be the flag bearers and differentiates us from the rest. Our experience and in-depth understanding of various business environments will be a support to you and your organization in making well-informed decisions

Contact Info:
Name: Mr. Abhishek Shukla
Email: abhishek@marketdataforecast.com
Organization: MarketDataForecast™
Phone: +1-888-702-9626
https://www.marketdataforecast.com/

This release was published on openPR.