Market Report, "Emerging Opportunities in Lithuania's Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape", Published
Lithuania's card payments channel declined during the review period (2008-2012) for three primary reasons. Firstly, the economic slowdown that adversely affected the financial services sector. Secondly, payment cards are less popular in smaller towns and are seldom accepted in traditional marketplaces, and thirdly, many Lithuanians prefer to make payments with cash due to a fear of card fraud. Growing e-commerce, rising disposable income, changes in consumer spending habits and the recovery of outbound tourism will help the growth of the...
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