RnRMarketResearch.com adds report “2020 Foresight Report: The Role of the Domestic Payment Card Network” to its store.
International payment card networks such as Visa and MasterCard enjoy the majority of the global market share, enabling them to control pricing in their favor, leading to high transaction and settlement costs for the overall card payment channel. Owing to this, the idea of government backed domestic networks has started to gain momentum in a number of markets. The emergence of government-backed networks is expected to play a crucial role in the redistribution of market share; they are predicted to lower the cost of transactions and help in the growth of card services to a larger market through increased competition. The success of China’s UnionPay and India’s RuPay are expected to fuel the trend further. The ability to provide transaction facilities for up to 40% cheaper than international networks is expected to be the key growth driver for domestic networks, especially in emerging markets. Moreover, International networks have lagged behind in exploiting business opportunities in certain market segments such as micropayments, social benefit programs, and the reliance of the rural population on small financial institutions.
Complete report available @ http://www.rnrmarketresearch.com/2020-foresight-report-the-role-of-the-domestic-payment-card-network-market-report.html .
- This report provides comprehensive analysis of domestic payment card networks on a global scale with the current competitive landscape of different payment card networks and their market share in selected developed and emerging economies
- Includes insights on both established and dominant domestic networks as well as new emerging schemes
- Analyzes key market potentials including target markets, growth drivers and challenges
- Examines key strategies adopted by domestic payment card networks to expand their business and increase revenues in both developed and emerging markets
- Futuristic outlook about expected strategic response from international payment card networks to counter competition from local and national competitors
Reasons To Buy
- Gain insights into key strategies adopted by domestic payment card networks to expand their business operations and increase revenue to streamline your domestic model
- Understand the key drivers of growth and challenges to develop a cost effective strategy for key target markets
- Learn about the current competitive landscape in selected developed and emerging economies for both the credit and debit card categories
- Get data on historical and forecast number of cards in circulation with their transaction value and volume in selected developed and emerging economies
- Gain insights into expected strategic moves by international payment card networks to level the playing field
Purchase a copy of this report @ http://www.rnrmarketresearch.com/contacts/purchase?rname=111489 .
- Competition among payment card networks is expected to accelerate over the next five years. This can be attributed to the rise of domestic networks in emerging economies and the opening of economies to international networks, such as in China. The rising competition is expected to have an impact on fees charged by card networks, which are expected to decline from the current levels and will also lead to a redistribution of market share.
- Although international card networks will continue to dominate the overall market over the next five years, domestic networks are expected to gain significant market share, driven by cost advantages and preference by government-aided financial institutions.
- The key target markets of domestic payment card networks include micropayments, small financial institutions and social benefit programs as well as traditional markets. Additionally, domestic networks are expected to increase their focus on smaller, independent stores with rising penetration of innovative technologies such as MPOS devices that support acceptance of card payments with minimal investment.
- The biggest challenge faced by domestic networks is making big enough investments to get the business running, and acquire enough market share to make investment economically sustainable. International networks such as Visa and MasterCard have become synonymous with payment cards in a number of economies which will make it very difficult for a new network to gain cardholder trust.
- At present, well-established and dominant domestic networks focus on defending and expanding their market share through partnerships, marketing campaigns and venturing into niche market segments such as micropayments. On the other hand, newly developed domestic networks are trying to capitalize on their low-cost advantage to tap into a broader market, including rural markets.
Browse Credit Card Industry Reports @ http://www.rnrmarketresearch.com/reports/business-financial-services/financial-services/credit-card .
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