Recently published research from Timetric, "Emerging Opportunities in Spain's Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape", is now available at Fast Market Research

Boston, MA -- (SBWire) -- 05/20/2013 --Although the financial crisis and conservative consumer spending has hampered growth in all card categories, the cards and payments industry in Spain is expected to recover over the forecast period, with prepaid cards expected to show the highest growth. Closed-loop prepaid cards, anticipated to grow at a CAGR of 9.79%, are expected to be the most promising sector with demand expected from both retail and corporate users as consumers attempt to tighten household spending and businesses look to contain travel and employee expenses. Growth in all card categories was impaired during the review period by conservative consumer spending due to the financial crisis and subsequent austerity measures. The overall industry declined at a CAGR of 3.75% in terms of transaction value, with the debit, credit, prepaid and charge card categories recording CAGRs of 4.93%, -2.49%, -12.07% and -2.01% respectively. The total number of cards in issue fell as customers cancelled unused or little-used cards which charged fees.

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Key Highlights

- Although the financial crisis and conservative consumer spending has hampered growth in all card categories, the cards and payments industry in Spain is expected to recover over the forecast period, with prepaid cards expected to show the highest growth.
- Spain's interchange environment is characterized by year-on-year reductions in interchange levels for both credit and debit cards. In 2005, the Spanish Ministry of Industry's intervention to reduce maximum interchange fees resulted in them falling from 1.75% in 2005 to 0.88% in 2009.
- As unemployment rises, consumers are expected to become more cautious regarding spending. Unused or little-used cards with maintenance or annual fees are expected to be cancelled, with many substituted by closed-loop prepaid cards.
- Online retail sales in Spain increased from EUR6.07 million in (US$4.1 million) 2008 to EUR12.5 million (US$9.0 million) in 2012, at a CAGR of 20.01%. The preferred online payment option was credit cards, with nearly 51% of online shoppers paying through credit cards in 2011.

Scope

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

Reasons to Get This Report

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

Companies Mentioned in this Report: Santander Group, La Caixa, Bankia, EMVCo,

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