Mastercard Business Intelligence Market Assessment 2024 highlights

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Published: December 05, 2024 | Updated: December 16, 2024

Read time: 3 minutes

Mastercard Business Intelligence’s new update of the Market Assessment interactive tool allows you to view and compare 101 standardized banking, payment and demographic KPIs across more than 75 countries.

Discover which countries had the most notable changes in card sector-related KPIs in this year’s analysis.¹

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We analyzed how well market conditions equip cardholders to make payments and how that translates into card usage

Key Performance Indicators

Spotlight markets with most notable YoY changes

Ireland

One of the countries with the largest increases across card sector maturity and card usage KPIs
- 14% increase in number of cards per adult
- +119 card payments per adult, the largest absolute increase of any country in the survey
- 36% increase in share of card-not-present transactions

Chile

Fastest growth in availability of POS terminals globally
- 69% rise in POS terminals per adult
- It is now the country with the 3rd highest ratio of POS terminals per adult in the survey
Highest number of card transactions per adult in Latin America

USA

The US has the 4th highest card usage rate, globally:
- >10 cards per adult
- 648 annual card transactions per adult
Strong 15p.p. increase in share of cards with contactless functionality, although total share remains low relative to other mature card markets in the survey

Discover more data in the Market Assessment tool on Mastercard Business Intelligence

We also analyzed how well current market conditions support card sector expansion

Key Performance Indicators

Spotlight markets with most notable YoY changes

Saudi Arabia

The market enjoys high digital readiness
- 99.6% internet access, the 3rd highest in the World
- 2 p.p. increase to 92%, the highest share in the region
and strong growth in card adoption
- 11% increase in number of cards per adult

Nigeria

Rapid migration of cash to card
- 6% decrease in cash withdrawals as a proportion of card-initiated transactions
- 22% relative increase in number of cards per adult, the third largest globally
But lower digital readiness
- 2 p.p. increase in share of adults with internet access, significantly below the regional average
- 58% smartphone penetration, the 5th lowest in the survey

Vietnam

Despite having the lowest banked population in the survey
- 42% banked population
And relatively low internet access and smartphone penetration
- 78% and 77% respectively
Card adoption is growing strongly
- 10% relative YoY increase in the number of cards per adult
- Cash as a proportion of total card-initiated transactions decreased 7 p.p. YoY

¹The research was carried out by our independent research partner to ensure all data and analysis is objective and brand agnostic.
²World Bank. ‘Global Findex Database,’ 2024; selected national sources, 2024.
³RBR. ‘Global Payment Cards Data and Forecasts to 2029,’ 2024; World Bank. ‘Health Nutrition and Population Statistics,’ 2024.
⁴RBR. ‘Global Payment Cards Data and Forecasts to 2029,’ 2024.
⁵ World Bank. ‘Open Data - Individuals using internet,’ 2024; Eurostat. ‘Digital economy and society statistics,’ 2024; selected national sources, 2024.
⁶ Eurostat. ‘Digital economy and society statistics,’ 2024; selected national sources, 2024.
⁷ RBR. ‘Global Payment Cards Data and Forecasts to 2028,’ 2024; bespoke RBR analysis based on primary and secondary research, 2024.
⁸ p.p. is percentage points.

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Mastercard Business Intelligence Market Assessment 2024 highlights

We analyzed how well market conditions equip cardholders to make payments and how that translates into card usage

Key Performance Indicators