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Emerging Opportunities in Singapore's Cards and Payments Industry New Report

 
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Naperville, IL -- (SBWIRE) -- 03/07/2013 -- The cards and payments industry as a whole grew at a CAGR of 8.33% in terms of the number of cards and at a CAGR of 7.12% in terms of transaction value during the review period. During the forecast period, the cards and payments industry is expected to grow at a CAGR of 4.95% in terms of number of cards and 4.88% in terms of transaction value. In terms of transaction value, the cards and payments industry is dominated by the debit card category which constituted 64.3% of the overall industry in 2012. The share of the debit card category in the overall industry is expected to be 61.8% in 2017. In terms of transaction value, the debit card category grew at a CAGR of 5.55% during the review period and is expected to grow at a CAGR of 4.27% during the forecast period. The debit card category is expected to show the largest growth in terms of transaction value as customers prefer income-based consumption over credit-fuelled consumption.

Scope
- This report provides a comprehensive analysis of Singapore’s cards and payments industry
- It provides current values for Singapore’s cards and payments industry for 2012 and forecast figures for 2017
- It details the different macroeconomic, infrastructural, consumer and business drivers affecting Singapore’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 Singapore’s cards and payments industry

Reasons to Buy
- Make strategic business decisions using historic and forecast market data related to Singapore’s cards and payments industry and each market within it
- Understand the key market trends and growth opportunities within Singapore’s cards and payments industry
- Assess the competitive dynamics in Singapore’s cards and payments industry
- Gain insights into the marketing strategies used for selling various categories of cards in Singapore
- Gain insights into key regulations governing Singapore’s cards and payments industry

Key Highlights
- The cards and payments industry as a whole grew at a CAGR of 8.33% in terms of number of cards and at a CAGR of 7.12% in terms of transaction value during the review period. During the forecast period, the cards and payments industry is expected to grow at a CAGR of 4.95% in terms of number of cards and 4.88% in terms of transaction value.
- Mobile commerce transactions show a huge potential for growth during the forecast period and are expected to expand the scope of card-based payments during the forecast period. M-commerce transactions grew from SGD15.2 million (US$10.78 million) in 2010 to SGD791.5 million (US$629.91 million) in 2012, at a CAGR of 273.07%.
- Banks follow highly competitive strategies when pricing cards in order to expand their customer base. The annual interest rates charged by most leading banks range between 24% and 25%. Banks also offer an interest-free period to customers to encourage prompt repayment.
- Banks target large customer bases such as Chinese-Singaporeans, NUS alumni, SingTel customers and members of the National Trades Union Congress (NTUC). Chinese-Singaporeans constituted 74.1% of the overall population in 2011.

Companies Mentioned

United Overseas Bank Oversea Chinese Banking Corporation DBS Bank HSBC Standard Chartered Bank ABN-AMRO Singapore Maybank BNP Paribas

To view table of contents for this market report please visit:
http://www.reportstack.com/product/95900/emerging-opportunities-in-singapores-cards-and-payments-industry-market-size-trends-and-drivers-strategies-products-and-competitive-landscape.html