Consumer Payments Country Snapshot: Norway 2016

(MoneyNewsWire.Net, October 22, 2016 ) This report also examines the regulations in force in the market that players must comply with, and how these have changed in recent years.

Report URL: http://www.reportsweb.com/consumer-payments-country-snapshot-norway-2016?publisher_name=Verdict%20Financial&limit=100

- Analyzes consumer attitudes to financial services by life stage.
- Analyzes the major payment card types in terms of both card holding and usage
- Identifies the major competitors in card issuing and how their position in the market has changed over the last five years
- Considers consumer attitudes towards prepaid cards, P2P tools, mobile payment tools, and contactless cards, and how companies in Norway are deploying these tools to meet customer needs
- Explores the online payment market in Norway by merchant type and payment tool, as well as providing a five-year forecast for the development of the market.
- Considers the regulations affecting the payments market and how they are likely to affect both incumbents and disruptors.

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Report Summary

The card reigns supreme in Norway, with only 6% of the population using cash on a daily basis and most possessing a minimum of two payment cards. And although the market is one of the most mature in the world, further growth is expected for both pay-now and pay-later cards.

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Key Finding

- Nearly half of all credit card balances are revolved each month. Income from balance-related interest and fees make the market profitable, as does the low churn rate.
- Online shopping is well established in Norway, and the NOK112bn spent in 2015 is set to double over the next five years.
- The rollout of contactless and NFC-enabled payment terminals has been slow in Norway, but consumers are interested in the technology - they just don't know where it can be used.

Reason to Buy

- Understand the key facts and figures in the consumer payments market in Norway.
- Learn what trends drive consumer behavior at the macro level and plan your strategy accordingly.
- Find out what products the major competitors are launching in the market.
- Discover consumer sentiment towards various payment tools in the Norwegian market and use this knowledge to inform product design.
- Learn about the key regulatory requirements affecting Norwegian payments players and any recent or upcoming changes to those requirements.

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