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Latest Swisscard News
Sep 2, 2022
Switzerland’s luxury goods market Switzerland’s luxury goods market raked in revenue to the tune of USD 4.29 billion this year, according to research by Statista , and is expected to grow at a CAGR yearly rate of 6.27% between 2002 and 2027. Over 13% of the market’s revenue this year is expected to come from online sales. Luxury fashion is the biggest segment of the market, valued this year at USD 1.46 billion. The card and payments market in Switzerland The total value of card transactions in Switzerland came to USD 123.4 billion last year, according to figures from GlobalData. GlobalData highlights the rise in use of payment cards in the country, citing factors including the state’s encouragement of cashless payments as well as the ‘high financial awareness’ of the Swiss population and the growing shift towards digital banking. On average, a Swiss individual holds over two cards. GlobalData also notes the increasing penetration of alternative payments methods, with Google Pay having been introduced to the country in 2019, and Samsung Pay in 2017. American Express and its re-entry in India Last week, India’s central bank lifted the ban imposed on American Express, which had been in place since May 2021. The restrictions, which had also applied to Mastercard and Diner’s Club, had been introduced due to the companies’ failure to comply with data storage norms. The Reserve Bank of India (RBI) said that American Express had now demonstrated ‘satisfactory compliance’ with the rules.
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Swisscard Frequently Asked Questions (FAQ)
When was Swisscard founded?
Swisscard was founded in 1998.
Where is Swisscard's headquarters?
Swisscard's headquarters is located at Neugasse 18, Zurich.
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