A comprehensive overview of the cards, payments and merchant acquirer market inSpain, with expert commentary and key payment industry market data.
Demographics and the economy
Cards market data
Key retail banks and issuers
Acquiring and processing
Regulatory and other cards market information
Appendices: Card Payments Data Spain
Appendix I: Demographics and the economy
Appendix II: Payments environment
Appendix III: Cards market
Appendix V: Profit pool
Appendix VI: Card networks
Appendix VII: Key retail banks and issuers
Appendix VIII: Acquirers and processing
Appendix IX: Online acquiring
Demographics and Economy:
Spain has one of the largest populations in Western Europe: 46.6 million inhabitants in 2018. The number of people living in the country declined during the years of economic crisis but has now begun to increase again.
Cash remains by some distance the most popular payment method by value: during 2018, an estimated $296 billion worth of transactions was paid for using cash. However, payment cards are becoming an increasingly important transactional tool.
Credit card usage was uneven between 2012 and 2018, as the market recovered from the worst years of the economic crisis. While the number of credit cards (including deferred debit cards) grew, total credit cards billed volume decreased. By contrast, debit card billed volume maintained a consistent growth rate.
The most important development in mobile payments has been the launch of Bizum in October 2016: this mobile transfer and payments app, owned by 25 banks, is primarily used to carry out person-to-person transfers.
Deferred debit cards are popular in Spain and the credit cards market has developed around this. At the end of the month, cardholders are offered the option to extend their debt through instalment plans which more closely resemble traditional revolving credit.
Visa leads the Spanish credit cards market in terms of both billed volume and number of cards in issue. Mastercard is a secondary player in the market. American Express, Diners Club, JCB and private label card schemes are also active in Spain.
Key Retail Banks and Issuers:
The Spanish credit cards market is competitive with the leading banks competing with a small number of specialist consumer finance and credit cards specialists. The top five issuers held 66% of total card outstandings at the end of 2018.
Acquiring and Processing:
With approximately 1.82 million POS terminals at the end of 2018, Spain has one of the largest acquiring networks in Europe. At 4,585 terminals per 100,000 adults, Spain is above the EU average in terms of POS density
Total online acquired purchase volume came to $23.6 billion in 2018. Four years earlier, this figure stood at $10.6 billion, equating to an increase of 123% during that timeframe.
Regulatory and Markets Information:
Because of the economic crisis and its impact on bank profitability financial institutions are strongly focused on cross-selling banking products and digital services while leveraging customer transaction-orientated functionalities in all delivery channels.
Banco Bilbao Vizcaya Argentaria
Banco de Valencia
Banco Hispano Americano
Banco Mare Nostrum
Banco Portugués do Investimento
Bank of Spain
Caja de Ávila
Caja Laboral Popular
Carrefour Financial Services
Comercia Global Payments
Comisión Nacional de los Mercados y la Competencia
Confederación Española de Cajas de Ahorro
Discover Global Network
El Corte Inglés
Español de Crédito
Grupo Caja Rural
La Caja de Canarias
Mercado de San Miguel
Redes y Procesos
Revised Payment Services Directive
SEPA instant credit transfer scheme
Sistema de Tarjetas y Medios de Pago
Spanish Confederation of Savings Banks
Third Party Provider
Verisk financial reports include detailed market and competitor intelligence on payments cards, e-money, acquiring, retail banking, and consumer credit in Europe. Analysts use primary and secondary source data and conduct in-depth interviews with senior industry executives and finance experts.
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