NORGES BANK MEMO 1/2016
DEVELOPMENTS IN RETAIL PAYMENT SERVICES – 2015
CHARTS
0 200 400 600 800 1 000 1 200 1 400 1 600 1 800 2 000 2 200
0 200 400 600 800 1 000 1 200 1 400 1 600 1 800 2 000 2 200
2001 2003 2005 2007 2009 2011 2013 2015
Debit and credit transfers (giros) Payment cards (goods purchases)
Chart 1 Use of payment instruments. In millions of transactions.
2001–2015
0 200 400 600 800 1 000 1 200 1 400 1 600 1 800
0 2 000 4 000 6 000 8 000 10 000 12 000 14 000 16 000 18 000
2001 2003 2005 2007 2009 2011 2013 2015
Debit and credit transfers (giros). Left-hand scale Payment cards (goods purchases). Right-hand scale
Chart 2 Use of payment instruments. In billions of NOK. 2001–2015
Chart 3 Selected payment instruments use as a share of total number of transactions and total value. 2015
17%
4%
4%
57%
18%
Transactions
Online banking Direct debits Other giro payments BankAxept International cards
82%
2%
12%
3% 1%
Value
0 50 100 150 200 250 300
0 50 100 150 200 250 300
2001 2003 2005 2007 2009 2011 2013 2015
Online banking Direct debit Mobile banking Postal giro Telegiro
Chart 4 Debit and credit transfers by retail customers. In millions of transactions. 2001–2015
0 100 200 300 400 500 600 700 800
0 100 200 300 400 500 600 700 800
2001 2003 2005 2007 2009 2011 2013 2015
Number of card transactions per inhabitant per year Value per card transaction in NOK
Chart 5 Card transactions per inhabitant per year and value per card transaction in NOK. 2001–2015
0 2 4 6 8 10 12 14 16
0 2 4 6 8 10 12 14 16
2001 2003 2005 2007 2009 2011 2013 2015
Chart 6 Number of Norwegian payment cards issued. In millions.
2001–2015
Chart 7 Use of Norwegian payment cards by issuer. In millions of transactions. 2001–2015
0 200 400 600 800 1 000 1 200 1 400 1 600 1 800 2 000 2 200
0 200 400 600 800 1 000 1 200 1 400 1 600 1 800 2 000 2 200
2001 2003 2005 2007 2009 2011 2013 2015
Domestic credit cards
Payment cards issued by international card companies
BankAxept cards
0 10 20 30 40 50 60 70 80 90 100
0 10 20 30 40 50 60 70 80 90 100
2001 2003 2005 2007 2009 2011 2013 2015
Billing functions (cards issued by international card companies) Credit cards issued by international card companies
Domestic credit cards
Debit cards issued by international card companies BankAxept (debit)
Chart 8 Use of Norwegian payment cards by issuer and function.
Transactions in percent of total number of transactions. 2001–2015
Chart 9 Use of Norwegian payment cards by issuer. In billions of NOK.
2001–2015
0 100 200 300 400 500 600 700 800 900 1 000
0 100 200 300 400 500 600 700 800 900 1 000
2001 2003 2005 2007 2009 2011 2013 2015
Domestic credit cards
Payment cards issued by international card companies
BankAxept cards
0 10 20 30 40 50 60 70 80 90 100
0 10 20 30 40 50 60 70 80 90 100
2001 2003 2005 2007 2009 2011 2013 2015
Billing functions (cards issued by international card companies) Credit cards issued by international card companies
Domestic credit cards
Debit cards issued by international card companies BankAxept (debit)
Chart 10 Use of Norwegian payment cards by issuer and function. Value in percent of total value. 2001–2015
Chart 11 Internet purchases with Norwegian payment cards. 2007–2015
0 20 40 60 80 100 120 140
0 20 40 60 80 100 120 140
2007 2009 2011 2013 2015 2007 2009 2011 2013 2015 Internet purchases in
Norway
Internet purchases abroad
Value in billions of NOK
In millions of transactions
0 2 4 6 8 10 12 14
0 2 4 6 8 10 12 14
2007 2008 2009 2010 2011 2012 2013 2014 2015 Percentage of transactions
Percentage of value
Chart 12 Internet purchases with Norwegian payment cards. Percentage of total purchases of goods. 2007–2015
0 50 100 150 200 250
0 50 100 150 200 250
2001 2003 2005 2007 2009 2011 2013 2015
Goods purchases Cash withdrawals
Chart 13 Use of Norwegian payment cards abroad. In millions of transactions. 2001–2015
0 20 40 60 80 100 120 140 160
0 20 40 60 80 100 120 140 160
2001 2003 2005 2007 2009 2011 2013 2015
Goods purchases Cash withdrawals
Chart 14 Use of Norwegian payment cards abroad. In billions of NOK. 2001–2015
Chart 15 Number of card payments per inhabitant in selected countries. 2014
Sources: Norges Bank, ECB, BIS and Seðlabanki Íslands
0 50 100 150 200 250 300 350 400 450 500 Germany
Poland Ireland Switzerland Singapore Belgium Netherlands UK Finland Canada Denmark Sweden US Norway Norway Iceland *
2015 2014
0 25 50 75 100 125 150 175 200
0 25 50 75 100 125 150 175 200
2001 2003 2005 2007 2009 2011 2013 2015
ATMs. In millions of transactions ATMs. Value in billions of NOK
POS terminals. In millions of transactions POS terminals. Value in billions of NOK
Chart 16 Cash withdrawals from ATMs and POS terminals. 2001–2015
0.00 0.25 0.50 0.75 1.00
0 5 10 15 20 25 30 35 40
2001 2003 2005 2007 2009 2011 2013 2015
POS terminals (left-hand scale) ATMs (right-hand scale) Chart 17 Number of POS terminals and ATMs per one thousand inhabitants. 2001–2015
0
2 000 4 000 6 000 8 000 10 000 12 000
0 10 000 20 000 30 000 40 000 50 000 60 000
2001 2003 2005 2007 2009 2011 2013 2015 Withdrawals per ATM (left-hand scale)
Payments per POS terminal (right-hand scale)
Chart 18 Use of POS terminals and ATMs per year. 2001–2015
Chart 19 Value of cash in circulation as a share of means of payments (M1), household consumption and mainland GDP. Percent. 2001–2015
Sources: Norges Bank and Statistics Norway
0 2 4 6 8 10 12 14
0 2 4 6 8 10 12 14
2001 2003 2005 2007 2009 2011 2013 2015
As a share of M1*
As a share of household consumption
As a share of mainland GDP
Chart 20 Cash as a share of means of payments (M1) in selected countries.
Percent. 2014
Sources: Norges Bank, ECB, BIS and Seðlabanki Íslands
0 5 10 15 20 25 30 35 40 45 50 55
Norway Sweden UK Norway Denmark Canada Iceland Switzerland Japan Euro area Singapore US
2014
2015*
Chart 21 Banks’ income from payment services (left-hand scale) and net interest and commission (right-hand scale). In billions of NOK. 2006–2015
0 10 20 30 40 50 60 70 80 90
0 1 2 3 4 5 6 7 8 9
2006 2008 2010 2012 2014
Other
Standing orders
Cards
Giros (electronic)
Giros (paper)
Cheques
Net interest and commission income (right-hand scale)
