Deerfield Beach, FL -- (SBWIRE) -- 10/26/2015 -- Synopsis

Current and forecast values for each category of Israel'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 Israel'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 Israel's cards and payments industry

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Executive summary

The global financial crisis produced a brief period of recession in Israel, however, the economy quickly recovered due to the country's fiscal policies and regulations, supported by a robust banking sector, proved optimistic for the cards and payments industry. Consequently, the collective share of electronic payment cards instruments including credit transfers, direct debit and card payments increased during the review period (2009–2013) from 78.6% in 2009 to 81.4% in 2013. The country's economic growth is anticipated to provide further impetus for the cards and payments industry over the forecast period (2014–2018).

The Israeli payment cards instrument grew in value and volume terms during the review period. In terms of transaction value, the payment cards instrument grew from ILS242.6 billion (US$61.7 billion) in 2009 to ILS312 billion (US$86.2 billion) in 2013, at a review-period compound annual growth rate (CAGR) of 6.49% and is anticipated to post a CAGR of 3.93%, over the forecast period, to reach to ILS383.2 billion (US$105.7 billion) in 2018. Similarly, in terms of the number of cards in circulation, the payment cards instrument grew from 7.4 million in 2009 to 9 million in 2013, at a CAGR of 4.97% and is anticipated to post a CAGR of 2.99% over the forecast period, to reach 10.5 million in 2018.

Many factors supported review-period growth, such as increases in per capita income and payment infrastructure modernization. As banking customers become more sophisticated, banks are differentiating their product offerings and subsequently card customization for specific customer groups such as high income individuals, students and the young. Banks are making use of digital channels such as online, mobile and social media to promote their products and services.

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Scope

This report provides a comprehensive analysis of Israel's cards and payments industry.
It provides current values for Israel's cards and payments industry for 2013, and forecast figures for 2018.
It details the different economic, infrastructural and business drivers affecting Israel'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 Israel's cards and payments industry.

Key highlights

The Israeli payment cards instrument grew in value and volume terms during the review period. In terms of transaction value, the payment cards instrument grew from ILS242.6 billion (US$61.7 billion) in 2009 to ILS312 billion (US$86.2 billion) in 2013, at a review-period compound annual growth rate (CAGR) of 6.49% and is anticipated to post a CAGR of 3.93%, over the forecast period, to reach to ILS383.2 billion (US$105.7 billion) in 2018. Similarly, in terms of the number of cards in circulation, the payment cards instrument grew from 7.4 million in 2009 to 9 million in 2013, at a CAGR of 4.97% and is anticipated to post a CAGR of 2.99% over the forecast period, to reach 10.5 million in 2018.

Two key trends in Israel's credit cards market are the issuance of non-bank credit cards by credit card companies - usually linked to customer clubs - and the expansion of the range of services offered by credit card companies in areas such as credit and financing. This includes the issuance of revolving credit cards which allow cardholders to determine debit amounts and payment dates according to their need and ability to pay.

In terms of number of cards in circulation, the prepaid card market accounted for the smallest payment cards instrument share of 6.8% in 2013; a share that is anticipated to decrease to reach 5.5% in 2018. This is mainly due to of lack of obtainability of prepaid card variants. Currently, prepaid card variants in the form of gift cards are widely available. This offers abundant growth opportunities for banks and card issuers.

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