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An expert report on Austria cards, payments and consumer banking market, with clear commentary backed by the latest data.
Offered by all the main banks, P2P solution Zoin has become popular; establishment offerings have so far been keeping consumers sufficiently satisfied that the new breed of digital players has not captured their custom.
Card spending in Austria grew sharply upon the pandemic's arrival, with the shift away from cash now pronounced and the debit card set to be the main beneficiary.
Acquirers are increasingly providing merchants with full-service, fix-it-and-forget-it solutions; more and more, this includes BNPL, which, as in many markets, is gaining traction.
How the main banks are meeting the digital challenge.
Where e-invoices fit in the online payments mix.
Why Austrian credit card losses are low.
How consumers are responding to mobile offerings.
TABLE OF CONTENTS
Demographics and the economy
Key retail banks and issuers
Acquiring and processing
Regulatory and other cards market information
Austria Country Report Data Tables
(All 2014-23F unless otherwise stated)
1: Demographic and economic indicators.
2: Ownership of key consumer devices.
3: Internet usage by population.
4: Access points: 2014-21F.
5: Account penetration.
6: Consumer payment trends.
7: B2C e-commerce payment methods.
8: Total card payment metrics.
9: Contactless card metrics.
10: Credit card numbers.
11: Total credit card metrics.
12: Credit card profitability indicators.
13: Debit card numbers.
14: Debit cards metrics.
15: Pre-paid/e-money card metrics.
16: Profit pool: credit card numbers, billed volumes, oustandings, interest incomes, net interest revenues, merchant revenues, card fee revenues, other non-interest incomes, total revenues, net credit losses, operating expenses, total expenses, pre-tax profits, merchant service charges, rollover rates, APR, net credit losses to outstandings, operating costs to revenues, ROA (pre-tax profits to outstandings).
(All below 2014-21F unless otherwise stated)
17: Networks' credit card market shares.
18: Networks' credit card data numbers.
19: Networks' credit card billed volume.
20: Networks' number of credit card transactions.
21: Networks' average credit card transaction value.
22: Credit card interchange fees by network.
23: Networks' debit card market shares.
24: Networks' debit card data numbers.
25: Networks' debit card billed volume.
26: Networks' number of debit card transactions.
27: Networks' average debit card transaction value.
28: Debit card interchange fees by network.
29: Key credit card issuers market shares by credit card numbers: 2016-21F.
30: Key issuers market shares in credit card outstandings: 2016-21F.
31: Key debit card issuers market shares by debit card numbers: 2016-21F.
32: Merchant acquirer credit card market share: 2016-20E.
33: Credit card merchant service charges: 2014-23F.
34: Merchant acquirer debit card market share: 2020E.
35: Debit card merchant service charges: 2014-23F.
36: Credit card issuer/issuing processor relationships: -
37: Credit card acquirer/acquiring processor relationships: -
38: Credit card issuing processor market shares by card numbers: 2020E.
39: Credit card acquiring processor market shares by the number of POS transactions: 2020E.
40: Online merchant acquirer market share. 2020E.
Demographics and Economy
Austria's population expansion is due primarily to migration, as births and deaths in the country are largely balanced. As of June 2020, around 1.5 million of the total population were non-Austrian, constituting around 17%.
Card payments are the most popular cashless payment method. At the end of 2019, there were almost 14 million payment cards in use in the country. Of these, over 10 million were debit cards.
Cash remains the predominant payment mode in Austria: this is linked to traditional preferences and debt-averse attitudes. However, payment preferences are gradually changing.
Mobile payments are increasingly popular in Austria but, like most advanced economies, their adoption is mired by consumer apathy. Mobile payment providers have found it difficult to incentivise a switch to mobile payments from cards.
In Austria, when revolving credit facilities are used, the monthly rollover rates are low, at around 15% of the outstanding balance in 2020. Due to the low uptake of revolving balance cards. Austria's percentage of credit card outstandings to billed volume is low.
Austria has a competitive credit cards market, with four major international brands – Visa, Mastercard, American Express and Diners Club – having a presence. UnionPay and JCB enjoy wide merchant acceptance in this market. The domestic debit cards market here is a virtual monopoly, with Mastercard accounting for almost all debit cards and transactions.
Key Retail Banks and Issuers
The payment cards market in Austria is also concentrated among five key players: Bank Austria, Erste Bank, RBI, Volksbank and BAWAG PSK ... they collectively represented vast market share majorities in terms of credit cards in issue and outstandings.
Acquiring and Processing
Worldline and Card Complete Service Bank together dominate the merchant acquiring market in Austria. Other acquirers include Hobex and Ingenico Payone.
(Austria is one of the largest e-commerce markets in Central Europe, with an estimated internet penetration of 89% in 2019. Total online acquired billed volume reached an estimated $5.1 billion in 2020.
Regulatory and Markets Information
In Austria, banking and other financial services are regulated by the Austrian Financial Market Authority (FMA), in cooperation with the central bank, OeNB (Oesterreichische Nationalbank). The OeNB monitors the stability of the financial market at a macro level.
Association for Cooperation in Payment Transfers
Austrian Financial Market Authority
B + S
Card Complete Service Bank
Chief Information Office
Electronic Payment Standard-Transfer
European Banking Authority
European Insurance and Occupational Pension Schemes
European Securities and Markets Authority
Gewerkschaft -ffentlicher Dienst
Ministry of Finance
Pay now by Klarna
Payment Services Austria
Raiffeisen Bank International
Raiffeisen Landesbank Oberösterreich
Reiter Betten und Vorhänge
SIX Payment Services
Uni Markt Handels
Visa Service Kreditkarten
Reports deliver detailed market and competitor intelligence on payments cards, e-money, acquiring/processing, retail banking, and consumer credit in Europe. Analysts and researchers use primary and secondary source data and conduct in-depth interviews with senior industry executives and European finance experts.
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