Financial Cards And Payments Market of India, Indonesia & Vietnam - Analysis, Competitive Landscape, and Statistics - Market Research Report
Validus Reports has released a latest study on Financial Cards And Payments Market of India, Indonesia & Vietnam - Analysis, Competitive Landscape, and Statistics - Market Research Report. This report establishes the size and structure of the market for ATMs cards, smart cards, credit cards, debit cards, charge cards, pre-paid cards and store cards. It looks at key players in the market (issuers and operators), number of cards in circulation, numbers transactions and value of transactions. It offers strategic analysis of sector forecasts and trends to watch.
Financial cards in India in 2017 registered healthy growth for the year. Growth was primarily driven by the demonetisation move declared by the government of India in November 2016. Demonetisation resulted in all INR500 and INR1,000 notes becoming invalid overnight. The government allowed consumers to exchange all old notes against new ones by 31 December 2016. Due to this 2-month phase, there was an acute shortage of cash in the economy.
A high number of unbanked population in Indonesia, as well as low credit card penetration, means that Indonesia follows a different path of payment development. Usually, the rise of credit card transactions is in accordance with the growth of e-commerce. However, the trend in Indonesia is that the credit card is not a popular payment method for online transactions; in addition to convenience, most Indonesians value security as well as familiarity when making payments.
Together with a young and rapidly growing urban population, the growth of internet retailing is a favourable environment for financial cards. Young consumers are quicker to adapt to new payment methods such as using financial cards and are making the switch from cash to card transactions. To tap into this strong potential market, banks and industry players constantly launch promotion campaigns to encourage customers to use their cards more and to attract new card owners.
Product coverage: Financial Cards in Circulation, M-Commerce, Transactions.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
Why buy this report?
* Get a detailed picture of the Financial Cards and Payments market;
* Pinpoint growth sectors and identify factors driving change;
* Understand the competitive environment, the market’s major players and leading brands;
* Use five-year forecasts to assess how the market is predicted to develop.
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