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Emerging Opportunities in Lebanon's Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape - New Market Research Report

Recently published research from Timetric, "Emerging Opportunities in Lebanon's Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape", is now available at Fast Market Research

 

Boston, MA -- (SBWIRE) -- 07/19/2013 -- After the debit and credit card categories, prepaid cards is the most popular card payment category in Lebanon. Indeed, in 2012, the category held the third-largest industry share of 8.0%. The total number of prepaid cards in circulation increased significantly during the review period, from 107,007 in 2008 to 157,522 in 2012, at a CAGR of 10.15%. Over the forecast period (2012-2017), this category is expected to post a CAGR of 15.43%, rising from 177,714 cards in 2013 to 315,449 in 2017. Demand is increasing due to the diversity of payment functions for prepaid cards. Both credit and charge cards are major revenue sources for financial institutions. Annual fees, interest on cash advances and value added services all contribute to the generation of profit. The categories held respective industry shares of 23.5% and 7.6% in 2012. Relatively low penetration rates are encouraging the entry of new operators and in 2011, CSC Bank (CSC) established an agreement with JCB International (JCBI) to issue JCB cards in Lebanon. Increasing levels of competition are expected to lower interest rates on credit limits and consequently encourage consumers to use more cards.

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Key Highlights

- Lebanon's cards industry recorded a CAGR of 4.89% in volume terms during the review period (2008-2012). The total number of cards increased from 1.6 million in 2008 to 2.0 million cards in 2012. Over the forecast period, the industry is forecast to grow at a CAGR of 3.15%, from 2.1 million cards in 2013 to 2.4 million in 2017.
- In Lebanon, the e-commerce channel is still in its developmental stages and only 9.2% of internet users actively purchase products online. Many use the internet to facilitate online banking rather than purchasing goods and services. This is mainly due to a lack of online payment platforms rather than a weak telecom infrastructure.
- Smart cards which incorporate contactless technology are emerging as a trend across the globe. Contactless technology increases the speed of a transaction and such cards were introduced in Lebanon in association with MasterCard. Fransabank has been offering contactless payment technology in Lebanon since 2006 and in 2012, Bank Audi launched the contactless ABC MasterCard.

Scope

- This report provides a comprehensive analysis of Lebanon's cards and payments industry
- It provides current values for Lebanon's cards and payments industry for 2012 and forecast figures for 2017
- It details the different macroeconomic, infrastructural, consumer and business drivers affecting Lebanon's cards and payments industry
- It outlines the current regulatory framework in the industry
- It details the marketing strategies used by various bankers and other institutions
- It profiles the major banks in Lebanon's cards and payments industry

Reasons to Get This Report

Companies Mentioned in this Report: Byblos Bank S.A.L., Bank of Beirut, Banque Libano-Francaise, Credit Libanais, Blom Bank

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