Welcome Guest | Register / Login

Payments Snapshot in Spain - Coronavirus (COVID-19) Sector Impact

Payments Snapshot in Spain - Coronavirus (COVID-19) Sector Impact

Summary

The Coronavirus (SARS-CoV-2) outbreak, dubbed COVID-19, is first and foremost a human tragedy, affecting millions of people globally. The contagious Coronavirus, which broke out at the close of 2019, has led to a medical emergency across the world, with the World Health Organization officially declaring the novel Coronavirus a pandemic on March 11, 2020.

The pandemic has caused significant economic disruption and reversed Spain's GDP growth. With the government now easing lockdown restrictions in a phased manner, a gradual recovery in the economy and a rise in consumer spending should be seen.

On March 17, 2020 the Spanish government announced a stimulus package worth €200bn ($224.5bn) - equivalent to a fifth of the country's GDP. The package included €100bn ($112.3bn) of guarantees for business loans and €17bn ($19.1bn) of direct aid to companies. The government also earmarked €30m ($33.7m) for research on developing a Coronavirus vaccine.

This report focuses on the impact of the coronavirus outbreak on both the economyand the cards and payments industry in Spain. Based on our proprietary datasets, the snapshotprovides a detailed comparison between pre-COVID-19 forecasts andrevised forecasts of total payment card, debit card, and credit and charge card transactions by value and volume. It also offers information on measures taken by the government to combat coronavirus.

Scope

- The Spanish economy is heavily reliant on tourism, which represented 12% of the country's GDP and 13% of employment as of the end of 2019. The steep dive in consumer spending in sectors including travel and tourism, accommodation, and food and drink will impact the payments industry.
- Cash has traditionally been a popular instrument for consumer payments in Spain, accounting for over 60% of total transaction volume. However, cash payments are set to decline, with banks and merchants urging customers to use non-cash payment methods to help contain the spread of the virus.
- When shopping in-store, consumers are likely to shift from low-value cash payments to contactless cards. In light of COVID-19, starting from March 20, 2020, Spanish banks temporarily increased the contactless payment limit from €20 ($22.45) to €50 ($56.14).

Reasons to Buy

- Make strategic decisions using top-level revised forecast data on the Spanish payment industry.
- Understand the key market trends, challenges, and opportunities in the Spanish cards and payments industry.
- Receive a comprehensive insight into payments market in Spain.
Single User License: Report will be emailed in PDF format and can be accessed by a specific user. This License type allows the report to be Printed.
Site License: Report will be emailed in PDF and  allows only employees within the same geographical location within the organization to access it. This License type allows the report to be Printed.
Global Site License: Report will be emailed in PDF format and allows all employees within the organization to access it.  This License type allows the report to be Printed.
Why http://www.marketreportsonline.com/
Payments Snapshot in Spain - Coronavirus (COVID-19) Sector Impact
Published By :GlobalData
Price
How to Purchase
Purchase reports from our site in few easy clicks. Please follow the description given below to complete your purchase process.
Step 1:
Select the report title of your interest, and Click on Buy Now button next to the Price option.
Step 2:
You will arrive at the Purchase page, where you will be requested to Signup (New User) or Login (Registered User). Please note that in-keeping with the security check on the website, you must submit your full details to avoid any inconvenience arising from incorrectly entered data or counterfeit information.
Step 3:
After SignUp/Login, you will arrive at our Payment Page on Paypal. You will see your Order Summary as well as an option to Choose a way to pay. Select a Payment option from Pay with a Paypal account OR Pay with a Debit or Credit Card. MarketReportOnline accepts Visa, MasterCard, American Express and Discover through Paypal. Fill up the required details in the option of your choice.
Step 4:
Once you follow the required process in Step 3 as mentioned above, you have successfully completed the purchase process.
Step 5:
Once you have successfully completed the purchase process, you will receive a confirmation email. The report will then be emailed to you directly by the publisher, as per our agreement with the publisher. For Orders that are placed after working hours, the delivery of the reports will be made on the next business day. For orders that are placed during weekends, the delivery of the reports will be made on the next 'working' business day. Please note, if you select purchase by invoice, you will receive your report only once the payment has been received. If you have any queries about how to order, please Contact Us.
We use cookies to deliver the best possible experience on our website.
By continuing to use this site, or closing this box, you consent to our use of cookies. To learn more, visit our Privacy Policy