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Iran's Cards and Payments Transaction Value Is Projected to Grow US$852.3 Billion in 2017; Finds New Report, New Report Launched

Market Research Reports, Inc. has announced the addition of “Emerging Opportunities in Iran's Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape” research report to their offering.

 

Lewes, DE -- (SBWIRE) -- 10/30/2014 -- Iran’s card payments channel recorded growth during the review period. The nation’s improved banking infrastructure, a consumer shift towards card-based payments and government initiatives to accelerate card payments contributed to the growth during the review period (2008?2012). As the popularity of e-commerce increases and prepaid cards become more commonplace, the channel is projected to grow in volume and value terms over the forecast period (2013?2017).

The card payments channel grew from 60.1 million cards in 2008 to 216.2 million in 2012, at a review-period CAGR of 37.73%. Over the forecast period, the total number of cards is projected to grow from 263.7 million to 423.2 million, representative of a forecast-period a CAGR of 12.56%.

In terms of transaction value, the card payments channel recorded a review-period CAGR of 82.47% and is projected to grow from IIR9,987.7 trillion (US$733.6 billion) in 2013 to IIR15,843.1 trillion (US$852.3 billion) in 2017, at a forecast-period CAGR of 12.23%.

In terms of volume of transactions, the channel grew at a review-period CAGR of 63.30% and is forecast to increase from 8.2 billion transactions in 2013 to 12.7 billion in 2017, at a forecast-period CAGR of 11.55%.
During the review period, the highest growth was registered in the prepaid cards category, which increased from 11.7 million cards in circulation in 2008 to 70.7 million in 2012, representing a review-period CAGR of 56.81%. It is projected to reach 170.6 million cards in 2017.

There is a demand for prepaid gift cards in Iran. Both the retail and corporate segments use them and they have become especially prevalent for internet shopping, especially during festival seasons.

The key growth drivers during the review period were an increased demand from the unbanked population for transaction facilities, the use of prepaid cards for conducting e-commerce transactions, and reward programs.
Iran’s payment channel was dominated by check payments during the review period. The total value of check payments increased from IIR8.15 quadrillion (US$864.3 billion) in 2008 to IIR12.84 quadrillion (US$1.0 trillion) in 2012, at a CAGR of 12.04%.

Due to growing consumer awareness, the acceptance of cards at retail outlets, card-based reward programs and government efforts to accelerate the use of cards, the total value of card payments increased from IIR722.9 trillion (US$76.7 billion) in 2008 to IIR8.01 quadrillion (US$650.7 billion) in 2012, at a CAGR of 82.47%.

The report provides top-level market analysis, information and insights into Iran's cards and payments industry, including:

- Current and forecast values for each category of Iran's cards and payments industry, including debit cards, credit cards and prepaid cards

- Comprehensive analysis of the industry’s market attractiveness and future growth areas

- Analysis of various market drivers and regulations governing Iran's cards and payments industry

- Detailed analysis of the marketing strategies adopted for selling debit, credit and prepaid cards used by banks and other institutions in the market

- Comprehensive analysis of consumer attitudes and buying preferences for cards

- The competitive landscape of Iran's cards and payments industry

Scope:

- This report provides a comprehensive analysis of Iran's cards and payments industry.

- It provides current values for Iran's cards and payments industry for 2012, and forecast figures for 2017.

- It details the different economic, infrastructural and business drivers affecting Iran'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 Iran's cards and payments industry.

Reasons to Buy:

- Make strategic business decisions using top-level historic and forecast market data related to Iran's - cards and payments industry and each market within it.

- Understand the key market trends and growth opportunities in Iran's cards and payments industry.

- Assess the competitive dynamics in Iran's cards and payments industry.

- Gain insights in to the marketing strategies used for selling various card types in Iran.

- Gain insights into key regulations governing Iran's cards and payments industry.

Spanning over 61 pages, 34 Tables and 36 Figures “Emerging Opportunities in Iran's Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape” report covering Executive Summary, Market Attractiveness and Future Prospects of the Cards and Payments Industry, Analysis of Iran’s Cards and Payments Industry Drivers, Emerging Consumer Attitudes and Trends, Competitive Landscape and Industry Dynamics, Strategies Adopted by Key Operators, Size and Growth Potential of the Card Payments Channel, Company Profiles, Appendix. This report Covered 8 Companies - EN Bank, Tejarat Bank, Bank Sepah, Bank Sedarat Iran, Bank Keshavarzi, Bank Melli Iran, Bank Mellat, Persian Bank.

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http://www.marketresearchreports.com/timetric/emerging-opportunities-irans-cards-and-payments-industry-market-size-trends-and-drivers

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