Austria has the 10th-largest economy in the EU and presents numerous challenges for international entrants into the cards and payments industry. Austria has a highly developed payment infrastructure and a relatively low level of card use, providing substantial growth opportunities. Credit transfers and cash-based payments are the preferred channels, having a combined industry share of 85.4%. Card payments account for just a 1.3% share. The Austrian cards and payments industry, which includes a variety of debit, credit, charge and prepaid cards offered by a large number of banking and non-banking companies, recorded increasing growth during the review period. Austrian payments are mainly cash-based, but the country is gradually adopting card payments. The most important payment card instrument is the debit card and in recent years, especially at points of sale, debit card transactions have increased considerably. Banks are offering bespoke products to meet specific customer needs and are increasingly targeting niche markets such as high-end customers. The number of ATMs installed in Austria increased moderately during the review period, from 7,646 in 2008 to 8,252 in 2012, at a CAGR of 1.93%. The number of ATMs in the country is expected to reach a moderate 8,513 by the end of 2017. The number of POS terminals was 107,794 at the end of 2012, up from 106,807 at the end of 2008, having recorded a CAGR of 0.23% during the review period.