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Credit Cards and Debit Cards in Norway: A Decade of Growth and Fraud

In recent years, credit cards and debit cards have become increasingly popular payment methods in Norway. According to a new report by [Statista], the number of payment card transactions in Norway grew steadily from 2010 to 2020, with a total value of over NOK 1.3 trillion (approximately USD 155 billion) in 2020.

Credit Cards

The growth of credit cards in Norway has been particularly notable, with the number of issued credit cards increasing by over 50% between 2014 and 2020. In 2020, there were over 2.5 million credit card holders in Norway, with a total spending value of over NOK 250 billion (approximately USD 30 billion).

Debit Cards

Debit cards have also seen significant growth in Norway, with the number of issued debit cards increasing by over 40% between 2010 and 2020. In 2020, there were over 3.5 million debit card holders in Norway, with a total spending value of over NOK 350 billion (approximately USD 42 billion).

Fraud

However, the growth of credit and debit cards has also led to an increase in fraud cases. According to [Statista], the number of payment card fraud cases in Norway increased by over 20% between 2015 and 2020, with a total value of over NOK 1 billion (approximately USD 120 million) lost to fraud in 2020.

Key Statistics

Here are some key statistics from the report:

  • Number of payment card transactions in Norway: over 250 million in 2020
  • Value of credit card transactions in Norway: over NOK 250 billion (approximately USD 30 billion) in 2020
  • Number of debit card holders in Norway: over 3.5 million in 2020
  • Total spending value on debit cards in Norway: over NOK 350 billion (approximately USD 42 billion) in 2020
  • Number of payment card fraud cases in Norway: over 10,000 in 2020
  • Value of fraudulent transactions in Norway: over NOK 1 billion (approximately USD 120 million) in 2020

Conclusion

In conclusion, the report highlights the growth of credit and debit cards in Norway, as well as the increasing problem of fraud. As payment methods continue to evolve, it is essential for individuals and businesses alike to be aware of the risks associated with these transactions.

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