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Belgium Country Report

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  • Published Date: January 2017 – update to be published January 2021

A comprehensive overview of the cards, payments and consumer banking market in Belgium.


  • Belgium has a mature payment cards market. At around 2.5 cards per adult at the end of 2016, the country has one of the world's highest card penetration rates.
  • POS terminal density has risen greatly from 1,539 per 100,000 adults in 2010 to an estimated 2,128 per 100,000 adults in 2016, as issuers and merchants continue to promote the usage of payment cards.
  • Outstanding consumer credit in Belgium grew by an estimated four per cent in 2016 to reach $250.3 billion. We expect a similar rate of growth during the forecast period.
  • The majority of credit cards in Belgium come in the form of cards with a delayed debit function, which represented an estimated 58 per cent of credit cards at the end of 2016.
  • Debit cards accounted for approximately 75 per cent of payment cards in 2016, representing a penetration rate of approximately 1.9 debit cards per adult.
  • Eighteen Belgian banks support the Bancontact mobile payment app, which means that the app is available to 99 per cent of Belgian cardholders.
  • In 2016, the pre-tax credit card industry profit pool was estimated at $210 million and is forecast to reach $220 million in 2017.
  • Visa dominates the Belgian credit cards market, with a share of 76 per cent of cards in issue.
  • Domestic scheme Bancontact continues to control the debit cards market in Belgium. In 2016, an estimated 89 per cent of transactions were carried out through the domestic network.
  • Atos Worldline dominates merchant acquiring in Belgium, with an estimated 110,000 merchant accounts in 2016 (out of an estimated 121,595 merchant accounts).

Belgium Payments Research | Report Contents

Demographics and Economy:
Outlines the key metrics and trends which influence the development of retail banking and payments in the country:

  • Population structure
  • Income
  • Mobile and internet use
  • Economic data

Retail Banking:
Explores the structure of the local banking system, its infrastructure and the leading players. Data includes:

  • Aggregate retail banking indicators
  • Bank branch, ATMs and POS terminals
  • The profitability of top banks

Consumer Finance:
Overview of consumer finance in the country. Categories analysed include:

  • Mortgage loans
  • Personal loans
  • Credit card loans
  • Vehicle loans

Credit Cards:
Industry-leading credit card coverage. We detail the past present and future of the industry through our data and commentary, including:

  • Market size split by consumer and commercial credit cards: number of cards, transaction volume, billed volume
  • Profit pool analysis
  • Competitive landscape: networks, issuers

Debit Cards:

  • Market size: number of cards, transaction volume, billed volume
  • Competitive landscape: networks, issuers

Prepaid Cards:

  • Market size: number of cards, transaction volume, billed volume


Verisk financial reports include detailed market and competitor intelligence on payments cards, e-money, acquiring, retail banking, and consumer credit Europe. Analysts use primary and secondary source data and conduct in-depth interviews with senior industry executives and finance experts.

See more European country reports or explore cards & payments research reports for 72 markets worldwide.

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