RnRMarketResearch.com adds “Greece’s Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape” report to its research database.
The report provides top-level market analysis, information and insights into Greece’s cards and payments industry, including:
- Current and forecast values for each category of Greece’s cards and payments industry, including debit cards, credit cards, charge cards and prepaid cards
- Comprehensive analysis of the industry’s market attractiveness and future growth areas
- Analysis of various market drivers and regulations governing Greece’s cards and payments industry
- Detailed analysis of the marketing strategies adopted for selling debit, credit, charge 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 Greece’s cards and payments industry
Greece was the most severely affected country by the eurozone crisis, mainly as a result of government overspending, tax evasion and a budget deficit that eventually spiraled out of control. The crisis also affected the entire banking system; most banks faced liquidity problems and loan defaults, which had a direct impact on the card payments channel.
In terms of the number of cards in circulation, the prepaid and debit card categories registered healthy growth at compound annual growth rates (CAGRs) of 15.44% and 3.29% respectively during the review period (2009–2013). With the Greek economy anticipated to recover slowly over the forecast period (2014–2018), the prepaid and debit card categories are expected to grow at a healthy pace and register CAGRs of 21.80% and 4.62% respectively, while the credit and charge card categories continue to decline, albeit more slowly than during the review period.
A well-developed mobile market and the growing popularity of smartphones have led to robust growth in mobile payments (m-payments), which posted a review-period CAGR of 41.55%, increasing from EUR26.2 million (US$36.3 million) in 2009 to EUR105.0 million (US$139.2 million) in 2013. Over the forecast period, the value of m-payments is anticipated to further increase from EUR149.2 million (US$201.2 million) in 2014 to EUR803.0 million (US$1.1 billion) in 2018, at a CAGR of 52.32%.
Banks such as National Bank of Greece (NGB), Alpha Bank and Eurobank Ergasias are partnering with merchants and online retailers to offer secure payment facilities, enabling customers pay online or via mobile phones linked to bank accounts. As a result, e-commerce recorded a review-period CAGR of 43.75% and grew from EUR962.3 million (US$1.3 billion) in 2009 to EUR4.1 billion (US$5.4 billion) in 2013. It is anticipated to post a forecast-period CAGR of 32.94% to reach EUR18.0 billion (US$25.4 billion) by the end of 2018.
Complete Report Available @ http://www.rnrmarketresearch.com/greeces-cards-and-payments-industry-emerging-opportunities-trends-size-drivers-strategies-products-and-competitive-landscape-market-report.html .
- This report provides a comprehensive analysis of Greece’s cards and payments industry.
- It provides current values for Greece’s cards and payments industry for 2013, and forecast figures for 2018.
- It details the different economic, infrastructural and business drivers affecting Greece’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 Greece’s cards and payments industry.
Reasons To Buy
- Make strategic business decisions using top-level historic and forecast market data related to Greece’s cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities within Greece’s cards and payments industry.
- Assess the competitive dynamics in Greece’s cards and payments industry.
- Gain insights in to the marketing strategies used for selling various card types in Greece
- Gain insights into key regulations governing Greece’s cards and payments industry.
- In terms of the number of cards in circulation, Greece’s card payments channel posted a review-period CAGR of -2.92%, decreasing from 15.6 million cards in 2009 to 13.9 million in 2013, and is expected to post a forecast-period CAGR of 4.17% to reach 16.6 million cards in 2018.
- In terms of number of cards in circulation, Greece’s card payments channel was dominated by the debit cards category in 2013, accounting for 74.3% of the channel. The second-largest channel share was held by credit cards 20.9%, followed by prepaid cards with 4.5%. The charge cards category held the smallest channel share of 0.3%.
- In terms of number of cards in circulation, the prepaid cards category is expected to register the highest forecast-period CAGR of 21.80%, while the debit cards category is expected to register the second-highest CAGR of 4.62%. However, the credit and charge card categories are expected to decline at forecast-period CAGRs of -5.64% and -4.16% respectively.
- Significant growth in mobile payments is expected to provide substantial scope for card transactions. Mobile payments recorded a review-period CAGR of 41.55%, increasing from EUR26.2 million (US$36.3 million) in 2009 to EUR105.0 million (US$139.2 million) in 2013. In February 2014, Alpha Bank, Vodafone, Visa Europe and First Data together launched a pilot project in Greece, introducing a conceptual mobile wallet app, Tap ‘n’ Pay. These initiatives are expected to result in further growth for m-payments over the forecast period.
- E-commerce value increased significantly from EUR962.3 million (US$1.3 billion) in 2009 to EUR4.1 billion (US$5.4 billion) at a review-period CAGR of 43.75%. Over the forecast period, e-commerce is expected to grow to reach EUR18.0 billion (US$25.4 billion) by the end of 2018, at a CAGR of 32.94%.
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