ResearchMoz.us include new market research report" Cards And Payments Industry Trends: UAE, Kuwait, Norways, Italy, Netherland, Thailand, Spain Market Size, Drivers, Strategies, Products and Competitive Landscape" to its huge collection of research reports.
Albany, NY -- (SBWIRE) -- 04/23/2013 -- Cards And Payments Industry
The UAE(http://www.researchmoz.us/emerging-opportunities-in-the-uaes-cards-and-payments-industry-market-size-trends-and-drivers-strategies-products-and-competitive-landscape-report.html) is an open economy with a high per capita income and annual trade surplus. It is a federation of seven emirates: Abu Dhabi, Ajman, Dubai, Fujairah, Ras al- Khaimah, Sharjah and Umm al-Quwain, formed on December 2, 1971. The government transformed the economy by forming a business environment which directly benefits the economic growth of the country. The cards and payments industry grew at a CAGR of 7.18% during the review period and was primarily driven by the prepaid card category. It is expected to grow at a CAGR of 5.55% over the forecast period. During the review period, prepaid cards occupied the largest share in the overall cards and payments industry, and recorded a CAGR of 13.33%. Debit cards grew at a CAGR of 8.19% followed by charge cards which grew at a CAGR of 5.62% during the same period. Credit cards grew marginally, at a CAGR of 0.92%.
Kuwaits cards industry(http://www.researchmoz.us/emerging-opportunities-in-the-kuwaits-cards-and-payments-industry-market-size-trends-and-drivers-strategies-products-and-competitive-landscape-report.html) as a whole grew moderately at a CAGR of 3.59% during the review period, primarily driven by the prepaid card category. Slow growth was mainly a result of the global economic crisis, which caused a decline in demand for oil and non-oil based exports and resulted in decreased rates of lending. During the review period (2008-2012), prepaid cards occupied the largest share in the overall cards and payments industry, and in volume terms recorded a CAGR of 37.83%. Charge cards grew at a CAGR of 4.02% over the same period, followed by debit cards with a CAGR of 2.58%. The overall card industry is expected to grow at a CAGR of 4.44% over the forecast period (2013-2017), driven primarily by the prepaid cards category, which is expected to grow at a CAGR of 19.94%. The credit cards category is also expected to grow at a CAGR of 3.2% during the forecast period, while debit cards are expected to record a CAGR of 2.76%, and charge cards a CAGR of 3.59%.
Norways cards and payments industry(http://www.researchmoz.us/emerging-opportunities-in-norways-cards-and-payments-industry-market-size-trends-and-drivers-strategies-products-and-competitive-landscape-report.html) exhibited nominal growth during the review period (2008 - 2012), increasing at a CAGR of 3.97%, from 15.34 million cards in 2008 to 17.9 million cards in 2012. Over the forecast period, the industry is forecast to register further growth with a CAGR of 1.33%, rising from 18.3 million cards in 2013 to 19.3 million cards in 2017. A high internet penetration in Norway is changing consumers preferences for online shopping. According to an e-commerce survey in the country by DIBS Payment Services, a supplier of functional, secure payment services for e-commerce in the Nordic region in 2012, home-electronics recorded a 51% share of online purchases, while books and clothing/footwear emerged as prospective runner-ups, each with a 30% share of online purchases in 2011.
The global financial crisis and conservative consumer spending are expected to provide substantial scope for the growth of prepaid cards in Italy over the forecast period, as prepaid cards enable customers to set spending limits(http://www.researchmoz.us/emerging-opportunities-in-italys-cards-and-payments-industry-market-size-trends-and-drivers-strategies-products-and-competitive-landscape-report.html). Debit cards will continue to remain as the largest card category both in terms of volume and transaction value. Credit and charge cards are both expected to record negative growth. The debt crisis and subsequent austerity policies have reduced customer confidence, leading to a decline in overall consumer spending. The traditionally credit-averse nature of Italian consumers, coupled with their conservative spending attitude, is expected to result in a decline in credit card-based transactions. This is expected to reduce new credit card issuance over the forecast period and increase issuance of prepaid cards as customers prefer pre-planned or budgeted spending. As a result, banks have attempted to add features to prepaid cards such as online functionality, global usability and easy reloading.
The cards and payments industry in the Netherlands(http://www.researchmoz.us/emerging-opportunities-in-the-netherlands-cards-and-payments-industry-market-size-trends-and-drivers-strategies-products-and-competitive-landscape-report.html) recorded moderate growth during the review period, with Dutch consumers adapting to EMV cards despite some initial reluctance. According to De Nederlandsche Bank, there is strong post-recession growth potential in the banking sector towards electronic payments, both from consumers and businesses. The cards and payments industry as a whole grew at a CAGR of 2.76% during the review period (20082012), primarily driven by charge cards and prepaid cards. The overall industry is expected to grow at a modest CAGR of 0.86% over the forecast period (20132017) as the Dutch economy gradually recovers. With the rising number of operators in the Dutch cards and payments industry, a need to differentiate has led banks to develop new marketing strategies. As well as the regular discounts and rebates, some banks have introduced new benefits and additional services. Services provided by ABN Amro include complimentary purchase insurance, baggage delay insurance and flight delay insurance. Other services include permitted spending above the set limit, and providing additional cards to partners of existing clients.
Thailand(http://www.researchmoz.us/emerging-opportunities-in-thailands-cards-and-payments-industry-market-size-trends-and-drivers-strategies-products-and-competitive-landscape-report.html) is an export-driven economy. Indeed, exports accounted for more than half of the nation’s GDP in 2011. The increasingly diversified manufacturing sector is one of the largest contributors to growth, followed by the travel tourism sector which accounted for approximately 6% of the country’s GDP in 2011. The card industry as a whole grew at a CAGR of 15.77% during the review period and is expected to post a CAGR of 5.96% over the forecast period. The growth was mainly driven by the prepaid card category, which recorded a CAGR of 28.84%, followed by the debit cards category which grew at a CAGR of 12.69%, and the charge and credit cards categories which grew at respective CAGRs of 7.02% and 5.91%. In volume terms, the industry grew at a CAGR of 15.77% during the review period, from 51.5 million cards in circulation in 2008 to 92.5 million cards in 2012. In value terms, the industry grew at a CAGR of 14.85% during the review period, from THB3.8 trillion (US$128.9 trillion) in 2008 to THB6.7 trillion (US$207.2 trillion) in 2012.
Although the financial crisis and conservative consumer spending has hampered growth in all card categories, the cards and payments industry in Spain(http://www.researchmoz.us/emerging-opportunities-in-spains-cards-and-payments-industry-market-size-trends-and-drivers-strategies-products-and-competitive-landscape-report.html) is expected to recover over the forecast period, with prepaid cards expected to show the highest growth. Closed-loop prepaid cards, anticipated to grow at a CAGR of 9.79%, are expected to be the most promising sector with demand expected from both retail and corporate users as consumers attempt to tighten household spending and businesses look to contain travel and employee expenses. Growth in all card categories was impaired during the review period by conservative consumer spending due to the financial crisis and subsequent austerity measures. The overall industry declined at a CAGR of 3.75% in terms of transaction value, with the debit, credit, prepaid and charge card categories recording CAGRs of 4.93%, -2.49%, -12.07% and -2.01% respectively. The total number of cards in issue fell as customers cancelled unused or little-used cards which charged fees.
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