Emerging Opportunities in Portugals Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape


#155700

84pages

Timetric

$ 4495

In Stock


Synopsis

The report provides market analysis, information and insights into Portugal’s cards and payments industry, including:
  • Current and forecast values for each category of Portugal’s cards and payments industry including debit cards, credit cards, prepaid cards and charge cards
  • Comprehensive analysis of the industry’s market attractiveness and future growth areas
  • Analysis of various market drivers and regulations governing Portugal’s cards and payments industry
  • Detailed analysis of the marketing strategies adopted for selling debit, credit, charge and prepaid cards used by various bankers and other institutions in the market
  • Comprehensive analysis of consumer attitudes and their buying preferences for cards
  • Competitive landscape of Portugal’s cards and payments industry

Summary

The Portuguese financial system has been dramatically affected by the sovereign debt crisis. In order to stabilize the country’s economy, Portugal adopted austerity measures such as huge spending cuts, tax rises and a freeze on pensions. The total cards and payments industry exhibited nominal growth during the review period (2008–2012) with a CAGR of 0.28% and is expected to record a CAGR of 1.91% during the forecast period. Card volume grew from 20.8 million in 2008 to 21 million in 2012 while total cards in circulation are expected to grow from 21.6 million in 2013 to 23.3 million in 2017. In terms of payment channels, credit transfers held the highest market share of 78.5% in 2012, followed by check payments with the second-largest market share of 12.7% in 2012. Online shopping in Portugal is increasing as a result of improvements in telecommunications infrastructure and payment and security systems, as well as an increased consumer willingness and awareness towards online shopping. Increasing internet penetration was a key driver behind online retail sales in the country and the evolution of the modern retail sector, with emerging trends such as department stores, supermarkets, hypermarkets and specialty stores, also significantly impacted the purchasing decisions of consumers. Out of total mobile users, 72.5% had active mobile broadband subscriptions while internet penetration reached 50.8% in December 2011. 

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

Reasons To Buy
  • Make strategic business decisions using historic and forecast market data related to Portugal’s cards and payments industry and each market within it
  • Understand the key market trends and growth opportunities within Portugal’s cards and payments industry
  • Assess the competitive dynamics in Portugal’s cards and payments industry
  • Gain insights into the marketing strategies used for selling various types of cards in Portugal
  • Gain insights into key regulations governing Portugal’s cards and payment industry

Key Highlights
  • The Portuguese financial system has been dramatically affected by the sovereign debt crisis. In order to stabilize the country’s economy, Portugal adopted austerity measures such as huge spending cuts, tax rises and a freeze on pensions.
  • In May 2011, the economic adjustment program was agreed by the Ecofin Council and the International Monetary Fund (IMF) Executive Board and covers the period between 2011 and 2014. The program offers external financing by the European Union, Eurozone member states and the IMF of up to EUR78 billion, for possible fiscal financing needs and to provide support to Portugal’s banking sector.
  • Portugal’s key exports are clothing and footwear, machinery, chemicals, cork and paper products, and animal hides. The value of the country’s exports reached EUR3.3 billion in August 2012.
  • The internet penetration rate in Portugal is increasing. The country has a wide network of private internet cafés throughout the country and the government is encouraging people to use the internet via Espaço Internet, which allows free access to the internet to anyone in Portugal.
  • The majority of banks in Portugal have implemented EMV technology in their card products. Card fraud transaction value declined by 18.8% during the review period as a result of the improved security measures with EMV chip migration. Card fraud transaction values at POS decreased by 10%.
  • Improvements in telecommunications infrastructure and payment and security systems, as well as increased consumer awareness and willingness towards online shopping, resulted in the rapid growth of online retail in Portugal.
  • All card types posted positive growth during the review period, except debit cards. The highest growth in terms of number of cards issued was registered in the charge card category which had a CAGR of 11.94%. The second largest growth, in terms of total number of cards issued, was seen in the prepaid card category which recorded a CAGR of 11.01%. The debit cards category recorded a CAGR of -2.66% during the review period while the credit card category registered a CAGR of 3.03%.