The latest Tecnocom Report on Trends in Payment Instrument 2016 underscores the trend in Spain in payment cards, which have increased in number by 2.2 million – in sharp contrast to the declines seen since the start of the crisis in 2008.
In 2015, there were 690,000 debit cards in circulation (up 2.8 % from 2014) and 1.6 million more credit cards (up 3.7 %, surpassing 45 million), reaching the all-time highs registered in 2008. The culmination of the banking sector’s restructuring, renewed economic growth and the boost from new card issuers account for this trend.
Point of sale units also increased 13 % in 2015, reaching 1.6 million contactless terminals. The number of purchases made with cards rose by 7.2 % in Spain in 2015, similar to last year’s growth.
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