Boston, MA -- (SBWIRE) -- 02/12/2014 -- Sweden has an export-oriented economy, and according to the World Economic Forum (WEF), it ranks as the sixth-most-competitive economy in the world 2013-2014. Sweden is moving fast towards being an electronic and cashless economy. In terms of the number of cards in circulation, its card payments channel posted a compound annual growth rate (CAGR) of 1.99% during the review period (2008-2012). This somewhat slow growth was mainly due to the debt crises in the eurozone. The overall card payments channel is expected to post a CAGR of 2.16% over the forecast period (2013-2017).
During the review period, debit cards occupied the largest share of the payments channel, posting a CAGR of 3.04%. The debit cards category is expected to post a forecast-period CAGR of 3.00%, while credit cards are expected to account for a CAGR of 1.09%.
The Swedish card payments channel grew marginally in value terms during the review period. The channel posted a review-period CAGR of 3.47%, from SEK739.0 billion (US$112.1 billion) in 2008 to SEK846.9 billion (US$124.2 billion) in 2012. It is expected to register a forecast-period CAGR of 3.88%, from SEK888.2 billion (US$128.2 billion) in 2013 to SEK1,034.2 billion (US$148.8 billion) in 2017.
As banking customers become more sophisticated, banks are looking to differentiate their product offerings, and card customization is gaining attention.

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Key Highlights

- In terms of the number of cards in circulation, its card payments channel posted a compound annual growth rate (CAGR) of 1.99% during the review period (2008-2012). This somewhat slow growth was mainly due to the debt crises in the eurozone. The overall card payments channel is expected to post a CAGR of 2.16% over the forecast period (2013-2017).
- During the review period, debit cards occupied the largest share of the payments channel, posting a CAGR of 3.04%. The debit cards category is expected to post a forecast-period CAGR of 3.00%, while credit cards are expected to account for a CAGR of 1.09%.
- The Swedish card payments channel grew marginally in value terms during the review period. The channel posted a review-period CAGR of 3.47%, from SEK739.0 billion (US$112.1 billion) in 2008 to SEK846.9 billion (US$124.2 billion) in 2012. It is expected to register a forecast-period CAGR of 3.88%, from SEK888.2 billion (US$128.2 billion) in 2013 to SEK1,034.2 billion (US$148.8 billion) in 2017.
- Contactless and NFC payments are being rolled out extensively across Sweden. In 2012, Scandinavian Airlines launched SAS Smart Pass stickers to its EuroBonus Gold frequent fliers, enabling passengers to check in without traditional paper boarding passes.

Scope

- This report provides a comprehensive analysis of Sweden's cards and payments industry.
- It provides the current value for Sweden's cards and payments industry for 2012, and forecast figures for 2017.

Companies Mentioned in this Report: Swedbank, Nordea Bank, Westra Wermlands Sparbank, Svenska Handelsbanken AB, Resurs Bank, MasterCard, Visa,

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