As per a new research report, the cards and payment industry in Austria is expected to grow at US$58.9 Billion by 2017. The report provides current values of cards and payments industry of Austria for the year 2012 and also predicts figures for the year 2017.

As per report, Austria poses numerous challenges for international entrants into the industry of cards and payment as it is 10th largest economy of European Union (EU) and have highly developed infrastructure. The growth opportunities for the country are higher as there is still low level of card usage.

The report further suggests that the payments in Austria are cash-based but people of Austria have started adopting cards as well. The cards which are in use at maximum rate in this country are debit cards which serve as the most important transaction card.

And due to the increased use of cards, number of ATM installation and their usage has gradually increased from 7,646 in 2008 to 8,252 in 2012 and the number is expected to increase by 8,513 till the end of 2017, as predicted by the report. It also suggests that the number of Point of Sale (POS) have seen an increase from 106,807 in 2008 to 107,794 till the end of 2012.