Payment Card Year Books

Norway Statistical Report 2024

Name: Norway Statistical Report 2024
Brand: Payment Card Year Books
Price: 270.00 GBP
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£270.00

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INTRODUCTION

Norway, officially the Kingdom of Norway, is a sovereign and constitutional monarchy with a unicameral Parliament (Stortinget).

Norway is a founding member of the United Nations (UN), the North Atlantic Treaty Organisation (NATO), the Council of Europe and the European Free Trade Association (EFTA). Norway issued applications for accession to the European Union (EU) and its predecessors in 1962, 1967 and 1992, respectively. While Denmark, Sweden and Finland obtained membership, the Norwegian electorate rejected the treaties of accession in referenda in 1972 and 1994.

After the 1994 referendum, Norway maintained its membership in the European Economic Area (EEA), an arrangement granting the country access to the internal market of the EU, on the condition that Norway implements the EU's pieces of legislation which are deemed relevant.

Successive Norwegian governments have, since 1994, requested participation in parts of the EU's co-operation that go beyond the provisions of the EEA agreement. Non-voting participation by Norway has been granted in, for instance, the EU's Common Security and Defence Policy, the Schengen Agreement, and the European Defence Agency, as well as 19 separate programmes.

The adoption of the revised Payment Services Directive, PSD2, and disruptive technologies have set the stage for digital payments for the digital economy in Norway. They have accelerated digital payment transformation and mobile payment services, as well as cardless IBAN-based payments directly from bank accounts.

In the last decade, Norwegian consumers have embraced mobile devices such as tablets, smartphones and Internet of Things (IoT). This change significantly impacts their shopping experience. Consumers are increasingly connected and they have started to purchase anywhere, at any time, from any device.

In addition, new consumer demands are a game changer. Norwegian consumers like digital banking apps with access to all their accounts at different banks in one single app, with the option to make payments directly from their bank account of choice. Additionally, they appreciate more banking services and payment services added to their mobile banking app. Consumer adoption of digital payments in Norway is driven by minimal cost, secure payments and a high level of user convenience.

STATISTICAL KEY FIGURES FOR 2023/24 PROVIDED IN THIS PROFILE:

NEW IN 2024:

THE FULL IMPACT OF COVID-19 ON DIGITAL PAYMENTS, CARD PAYMENTS, E-COMMERCE AND M-COMMERCE BY MARKET.
REAL-TIME PAYMENTS INFRASTRUCTURE AND GROWTH STATISTICS BY MARKET.
OPEN BANKING INFRASTRUCTURE, API ROLL-OUT, KEY PLAYERS AND KEY INITIATIVES BY MARKET.
CONTACTLESS AND MOBILE PAYMENTS STATISTICS BY MARKET.
CRYPTOCURRENCY, STABLECOIN AND CBDC INITIATIVES BY MARKET.
FULL UPDATE ON BANK CHANNEL DIGITISATION BY MARKET.
FORECASTING COLUMN ADDED FOR ALL THE MAJOR TABLES.
READER-FRIENDLY DESIGN WITH ENHANCED DATA VISUALISATION.
INDUSTRY DEVELOPMENTS AND BANK DEPLOYMENTS OF EID, BIOMETRICS AND AI.
THE INTEGRATION OF DIGITAL CHALLENGERS AND NEOBANKS INTO THE BANKING INFRASTRUCTURE.

UPDATES FOR 2023-24:

UPDATED – BANK M&A, RESTRUCTURING AND MARKET POSITIONING.
CUSTOMER NUMBER KPIS AND ADOPTION OF DIGITAL CHANNEL KPIS.
REAL-TIME PAYMENTS INFRASTRUCTURE AND GROWTH STATISTICS BY MARKET.
OPEN BANKING INFRASTRUCTURE, API ROLL-OUT, KEY PLAYERS AND KEY INITIATIVES BY MARKET.
CONTACTLESS AND MOBILE PAYMENTS STATISTICS BY MARKET.
CRYPTOCURRENCY, STABLECOIN AND CBDC INITIATIVES BY MARKET.
FULL UPDATE ON BANK CHANNEL DIGITISATION BY MARKET.
FORECASTING COLUMN ADDED FOR ALL THE MAJOR TABLES.