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Cards, payments industry grows 2.76 percent in Netherlands between 2008 and 2012

Dutch flagBetween 2008 and last year, the cards and payments industry in the Netherlands posted moderate growth of 2.76 percent driven primarily by prepaid and credit cards.

The industry is expected to grow by 0.86 percent between this year and 2017 as the Dutch economy continues its recovery. An increased number of industry operators has led banks to develop new strategies to compete, offering new benefits and additional services.

The Netherlands has one of the most concentrated banking industries in the world, with 19 banks, both foreign and domestic, operating in the country. Most of the industry is occupied by ABN Amro, ING and Rabobank.

Over the review period, credit cards grew by 10.45 percent, and prepaid cards grew by 6.71 percent.

The rapid adoption of e-commerce and mobile commerce will likely generate positive growth for the industry. The nation’s central bank said the electronic payments industry has strong growth potential post-recession.

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