Boston, MA -- (SBWIRE) -- 10/30/2013 -- Lithuania's card payments channel declined during the review period (2008-2012) for three primary reasons. Firstly, the economic slowdown that adversely affected the financial services sector. Secondly, payment cards are less popular in smaller towns and are seldom accepted in traditional marketplaces, and thirdly, many Lithuanians prefer to make payments with cash due to a fear of card fraud. Growing e-commerce, rising disposable income, changes in consumer spending habits and the recovery of outbound tourism will help the growth of the card payments channel over the forecast period (2013-2017).

Key Highlights

- In terms of the number of cards in circulation, Lithuania's card payments channel recorded a review-period CAGR of -3.77%. While the debit cards category recorded a CAGR of -3.49%, the credit cards category recorded a CAGR of -5.90%.
- In terms of the number of cards in circulation, the card payments channel is projected to record a CAGR of 1.17% over the forecast period. The debit cards category is projected to increase from 3.2 million cards in 2013 to 3.4 million in 2017 at a CAGR of 1.17%, while the credit cards category is forecast to increase from 400,999 cards in 2013 to 419,642 in 2017, at a CAGR of 1.14%.
- In terms of transaction value, the card payments channel grew at a CAGR of 2.94% during the review period and is forecast to grow at a CAGR of 7.39%.
- In terms of the number of transactions, the card payments channel increased at a CAGR of 5.75% during the review period and is expected to grow at a CAGR of 6.27% over the forecast period.
- Stable GDP growth, the rise of e-commerce, increasing disposable income and the recovery of outbound tourism are expected to drive the growth of the card payments channel over the forecast period.

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Scope

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

Reasons to Get This Report

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

Companies Mentioned in this Report: SEB Bank, DNB Bankas, Danske Bank, Swedbank, Siauliu Bank, American Express, Visa, MasterCard

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