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MarketResearchReports.Com: Slovakia's Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape, New Report Launched

The Slovak economy remained resilient to the European sovereign debt crisis due to a sound banking system and prudent government spending. Ongoing government reforms in education, training, the labor market, taxation and infrastructure are likely to spur economic growth over the forecast period (2014–2019), which will have a direct impact on the Slovak cards and payments industry.

In terms of overall payment channels, credit transfers held the highest channel share of 85.3% in 2013, followed by direct debits with 12.4%. With consumers shifting to modern electronic payment systems, the channel share of card transactions increased from 1.4% in 2009 to 2.2% in 2013.

The Slovak card payments channel grew both in terms of volume and value during the review period (2009–2013). In terms of the number of cards in circulation, the channel increased from 5.1 million in 2009 to 5.7 million in 2013, during the review period at a compound annual growth rate (CAGR) of 2.83%. Over the forecast period, the card payments channel is anticipated to register a CAGR of 2.37% to reach 6.5 million cards by the end of 2018.

In terms of transaction value, the card payments channel posted a review-period CAGR of 6.32%, rising from EUR16.5 billion (US$22.9 billion) in 2009 to EUR21.0 billion (US$27.9 billion) in 2013. The channel is expected to post a forecast-period CAGR of 3.97%, increasing EUR22.1 billion (US$29.8 billion) in 2014 to EUR25.8 billion (US$36.3 billion) in 2018.

While debit cards remained the preferred payment channel during the review period, the economic crisis and high levels of unemployment opened doors for alternative channels such as charge and prepaid cards. Charge cards are popular among Slovak businesses and are used to meet temporary credit requirements. Moreover, firms can benefit from an interest-free credit period by paying outstanding amounts at the end of the due date. It is anticipated that charge cards will continue to be popular with businesses over the forecast period.

The report provides top-level market analysis, information and insights on Slovakia's cards and payments industry, including:

  • Current and forecast values for each category of Slovakia'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 Slovakia'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 Slovakia's cards and payments industry

Scope

  • This report provides a comprehensive analysis of Slovakia's cards and payments industry.
  • It provides current values for Slovakia's cards and payments industry for 2013, and forecast figures for 2018.
  • It details the different economic, infrastructural and business drivers affecting Slovakia'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 Slovakia's cards and payments industry.

Reasons to Buy

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

Browse this report: http://mrr.cm/Zf9

Key Highlights

  • The Slovak card payments channel grew both in terms of volume and value during the review period (2009–2013). In terms of the number of cards in circulation, the channel increased from 5.1 million in 2009 to 5.7 million in 2013, during the review period at a compound annual growth rate (CAGR) of 2.83%. Over the forecast period, the card payments channel is anticipated to register a CAGR of 2.37% to reach 6.5 million cards by the end of 2018.
  • In terms of transaction value, the card payments channel posted a review-period CAGR of 6.32%, rising from EUR16.5 billion (US$22.9 billion) in 2009 to EUR21.0 billion (US$27.9 billion) in 2013. The channel is expected to post a forecast-period CAGR of 3.97%, increasing EUR22.1 billion (US$29.8 billion) in 2014 to EUR25.8 billion (US$36.3 billion) in 2018.
  • While debit cards remained the preferred payment channel during the review period, the economic crisis and high levels of unemployment opened doors for alternative channels such as charge and prepaid cards. Charge cards are popular among Slovak businesses and are used to meet temporary credit requirements. Moreover, firms can benefit from an interest-free credit period by paying outstanding amounts at the end of the due date. It is anticipated that charge cards will continue to be popular with businesses over the forecast period.
  • Slovak consumers are generally quick to adopt new payment technologies, and with the introduction of mobile contactless payments by MasterCard in 2008, the value of mobile payments (m-payments) grew to reach EUR26.2 million (US$34.7 million) in 2013. With their popularity still growing, m-payments are anticipated to record a CAGR of 74.48% to reach EUR402.0 million (US$566.3 million) in 2018..
  • E-commerce in Slovakia is growing as a result of improvements in telecommunications infrastructure and payment and security systems, as well as increased consumer willingness and awareness towards online shopping. Rising internet penetration was a key driver behind online retail sales in the country, and the evolution of the modern retail sector also significantly impacted the purchasing decisions of consumers. E-commerce registered a review-period CAGR of 28.35%, rising from EUR218.0 million (US$302.9 million) in 2009 to EUR591.7 million (US$784.4 million) in 2013.

Find all Banking and Finance Report at: http://www.marketresearchreports.com/banking-finance

Spanning over 97 pages, 54 tables, 64 figures, “Slovakia's Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape” report covering the Analysis of Market Environment, Key Trends and Drivers, Cards and Payments Industry Share Analysis, Regulatory Framework and Card Fraud Statistics, Emerging Consumer Attitudes and Trends, Analysis of Card Payments and Growth Prospects, Analysis of Credit Card Payments and Growth Prospects, Analysis of Debit Card Payments and Growth Prospects, Analysis of Charge Card Payments and Growth Prospects, Analysis of Prepaid Card Payments and Growth Prospects, Merchant Acquiring, Company Profiles of Card Issuers, Appendix. The report covered 7 companioes - Tatra Banka, Slovenská sporiteľňa, Československá Obchodní Banka, Sberbank Slovakia, VUB Banka, MasterCard, Visa

Find other Reports on Slovakia Market at: http://www.marketresearchreports.com/countries/slovakia  

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