“Sweden’s Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape “

Date: 2015-09

“Sweden has an export-oriented economy, and according to the World Economic Forum (WEF), it ranks as the sixth-most-competitive economy in the world 2013โˆ’2014. Sweden is moving fast towards being an electronic and cashless economy. In terms of the number of cards in circulation, its card payments channel posted a compound annual growth rate (CAGR) of 1.99% during the review period (2008โˆ’2012). This somewhat slow growth was mainly due to the debt crises in the eurozone. The overall card payments channel is expected to post a CAGR of 2.16% over the forecast period (2013โˆ’2017).
During the review period, debit cards occupied the largest share of the payments channel, posting a CAGR of 3.04%. The debit cards category is expected to post a forecast-period CAGR of 3.00%, while credit cards are expected to account for a CAGR of 1.09%.
The Swedish card payments channel grew marginally in value terms during the review period. The channel posted a review-period CAGR of 3.47%, from SEK739.0 billion (US$112.1 billion) in 2008 to SEK846.9 billion (US$124.2 billion) in 2012. It is expected to register a forecast-period CAGR of 3.88%, from SEK888.2 billion (US$128.2 billion) in 2013 to SEK1,034.2 billion (US$148.8 billion) in 2017.
As banking customers become more sophisticated, banks are looking to differentiate their product offerings, and card customization is gaining attention.”

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