Naperville, IL -- (SBWire) -- 08/13/2014 --Reportstack, provider of premium market research reports announces the addition of Ukraine's Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape market report to its offering
Ukraines economy was deeply impacted by the 20082009 global economic crises and saw demand decrease for its steel and chemical exports. In August 2010, Ukraine entered into an agreement with the International Monetary Fund (IMF) for US$15.1 billion to put the country on the growth path and revive its beleaguered banking sector, and GDP growth resumed from 2010 onwards reaching a peak of 5.11% in 2011.
A lack of government enthusiasm in implementing key reforms in the energy sector caused the IMF program to stall in 2011; as a result, real GDP growth fell to 0.3% in 2013. This led to a decrease in the foreign exchange reserves in 2013, with fears of sovereign debt default in 2014. In March 2014, the European Union (EU) and IMF announced bail-out packages worth EUR11.2 billion and US$1418 billion respectively, to support Ukraines economy, although prospects over the forecast period (20142018) are uncertain due to the Crimean conflict.
The Ukrainian card payments channel grew at a healthy pace both in value and volume terms during the review period (20092013); the number of cards in circulation in the channel grew from 29.7 million in 2009 to 35.7 million in 2013, at a compound annual growth rate (CAGR) of 4.76%, and is anticipated to further post a CAGR of 5.06% over the forecast period to reach 45.3 million in 2018.
In terms of transaction value, the card payments channel grew at a review-period CAGR of 27.25%. The card payments channel is forecast to increase at a forecast-period CAGR of 14.50%.
Many factors supported review-period growth, such as an increase in per capita income, payment infrastructure modernization, and the adoption of technologically advanced payment cards. The government supported modernization in the form of regulations in September 2010 mandating all companies selling goods and services to accept card payments, contributed to the growth in value terms during the review-period. Banks have also targeted corporate employees and opened salary accounts, leading to the issue of debit cards in high volume.
Growing consumer demand for prepaid cards has forced banks and issuing companies to introduce many variants of prepaid cards to meet specific needs. PrivatBank and Prominvestbank offer the E Card and Visa Virtuon respectively, while Ukrsotsbank offers the Gift Card. Cards for other specific purposes such as public transport fares and online shopping are slowly gaining importance in Ukraine.
Scope
This report provides a comprehensive analysis of Ukraine's cards and payments industry.
It provides current values for Ukraine's cards and payments industry for 2013, and forecast figures for 2018.
It details the different economic, infrastructural and business drivers affecting Ukraine's cards and payments industry.
It outlines the current regulatory framework in the industry.
It details the marketing strategies used by various banks and other institutions.
It profiles the major banks in Ukraine's cards and payments industry.
Reasons to Buy
Make strategic business decisions using top-level historic and forecast market data related to Ukraine's cards and payments industry and each market within it.
Understand the key market trends and growth opportunities within Ukraine's cards and payments industry.
Assess the competitive dynamics in Ukraine's cards and payments industry.
Gain insights in to the marketing strategies used for selling various card types in Ukraine.
Gain insights into key regulations governing Ukraine's cards and payments industry.
Companies Mentioned
PrivatBank
Raiffeisen Bank Aval
Ukrsotsbank
Ukreximbank
Prominvestbank
Delta Bank
Nadra Bank
NSMEP
UkrKart
MasterCard
Visa
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Ukraine's Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape