New Markets Research Report Added In MarketsResearchReports.Biz Reports Database Emerging Opportunities in Taiwans Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape
Albany, NY -- (SBWIRE) -- 07/10/2013 -- The report provides market analysis, information and insights into Taiwan's cards and payments market, including:
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- Current and forecast values for each category of Taiwan's cards and payments industry including debit cards, credit cards, prepaid cards and charge cards
- Comprehensive analysis of the industry’s market attractiveness and future growth areas
- Analysis of various market drivers and regulations governing Taiwan's cards and payments industry
- Detailed analysis of the marketing strategies adopted for selling debit, credit, charge and prepaid cards used by various bankers and other institutions in the market
- Comprehensive analysis of consumer attitudes and their buying preferences for cards
- Competitive landscape of Taiwan's cards and payments industry
The Taiwanese card payments channel demonstrated moderate growth during the review period. In terms of number of cards in circulation, the channel grew at a CAGR of 2.41% to reach 119.0 million in 2012. Robust banking infrastructure in the country and a shift towards cashless transactions by consumers contributed to the growth of the channel during the review period. Card volume is expected to grow at a CAGR of 2.49% over the forecast period, to reach 135.8 million in 2017. In terms of transaction value, the card payments channel declined from TWD12.6 trillion (US$400.1 billion) in 2008 to TWD10.6 trillion (US$356.8 billion) in 2012, at a review-period CAGR of -4.34%.
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This was due to a 27.2% decline in card transaction value in 2009 due to the global financial crisis. While card transaction value has recovered and shown positive growth since 2010, it is yet to reach pre-recession levels. It is expected to grow from TWD11.0 trillion (US$373.0 billion) in 2013 to TWD13.2 trillion (US$447.6 billion) in 2017, at a forecast-period CAGR of 4.65%. In 2012, debit cards dominated the card payments channel with a 68.5% share, followed by credit cards with 29.2%.
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