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  • South Africa: Since 2011, credit card spending by South African households has experienced a double-digit growth rate each year.
  • Oman: There are significant opportunities for generating revenues from interchange fees on debit cards, as customers continue to migrate from cash usage to card usage at the POS.
  • Argentina: Consumer credit outstandings in Argentina grew by 485 percent between 2010 and 2016, reaching $37 billion. Total consumer credit outstandings reached about 7.2 percent of GDP by the end of 2016, representing an extraordinary growth opportunity for financial institutions.
  • China: In 2016, almost $12 trillion was billed on the 6.1 billion cards in issue, up from $2.8 trillion in 2010. Visa or Mastercard are yet to enter the market and will face a difficult task trying to wrestle market share from UnionPay when they do.
  • Singapore: The credit cards industry has experienced healthy growth over recent years in both card issuance and billed volume.
  • Algeria: There are no credit cards in Algeria, but such is the strong demand for consumer credit that a market for credit cards is likely.
  • Turkey: The credit cards market has developed at a healthy pace both in terms of card numbers and cards use. Total credit card billed volume was equivalent to 28 percent of the country's GDP in 2016.



Recent market updates:
South Africa

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Established in 1981 by the company founder and executive chairman, Michael Lafferty, Lafferty Group has continued to be the leading global specialist provider of industry research and thought leadership for the retail banking and consumer financial services industry for over three decades.

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