New Financial Services research report from Timetric is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 10/01/2012 -- The Indian prepaid and debit card market registered significant growth during the review period (2007-2011), with combined card volume recording a growth of 31% in 2011 over figures from 2010. Changing lifestyle demographics, the need for more sophisticated products, the growth of online shopping and increasing levels of per capita income supported the growth of this market. Many Indian banks have been expanding their networks of automatic teller machines (ATMs) in order to develop their business. Part of this expansion has involved installing point of sale (POS) terminals, which are electronic data-capture swipe machines and accept both debit and credit card payments at retail outlets. With competitive pressures on both the prepaid and debit cards market, banks and issuers are developing marketing and pricing strategies with the aim of attracting larger customer bases. Offers such as cash-back, discounts for retail outlets, buy-one-get-one-free offers, rewards points, increasing daily limits for cash withdrawals and insurance coverage are some of the most common strategies that banks are providing to debit and prepaid card customers.
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- The Indian debit and prepaid cards market grew substantially both in volume and value terms during the review period.
- Growth in payment infrastructure has supported increased levels of card usage.
- The online retail market will drive the use of prepaid and debit cards.
- Consumer preference plays a key role in purchasing decisions.
- Domestic payment scheme, RuPay, to compete with Visa and MasterCard.
- Entry of non-banking companies to support growth.
- Use of corporate prepaid travel cards to support growth over the forecast period.
This report will provide you with:
- A comprehensive analysis of the prepaid and debit card market in India
- Current values for the Indian prepaid and debit card market for the report's 2007-2011 review period and figures for the 2012-2016 forecast period.
- Current values of the various categories within the Indian prepaid card market for the review period and forecast period.
- Exhaustive summary of the key trends, drivers and challenges affecting the Indian prepaid and debit card market
- Current regulatory framework in the industry
- Strengths, weaknesses, opportunities and threats in the Indian prepaid and debit card market
- Marketing strategies used by various companies
- Profiles of the major banks and companies in the Indian prepaid and debit card market
Reasons to Get this Report
- Make strategic business decisions using historic and forecast market data related to the Indian prepaid and debit card industry and each category within it
- Understand the key market trends and growth opportunities within the Indian prepaid and debit card market
Companies Mentioned in this Report: State Bank of India, Punjab National Bank, Axis Bank, HDFC Bank, ICICI Bank, ITZ Cash Cards Limited
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