Showing posts with label Credit Cards Industry Asia. Show all posts
Showing posts with label Credit Cards Industry Asia. Show all posts

Monday, January 27, 2020

Asia credit cards market is Expected to Witness CAGR of 6.8% in terms of total cards in circulation by 2025: Ken Research

 Schemes such as the payment of outstanding dues in equated monthly installments (EMIs) and additional facilities, such as access to premium services at hotels and airlines, including lounge access have escalated the total cards in circulation and the total transaction value within Asia.
  • Numerous companies such as Amazon, MakeMyTrip, NUS Singapore, Manchester United, Ferrari, and others are offering co-branded credit cards that provide facilities such as low annual fees, gift vouchers on joining and lucrative cashback offers. The total transaction value within the Asia credit card market is expected to showcase a forecasted CAGR of 7.4% during 2018-2025.
  • Trends such as environmental sustainability, sustainable procurement, and adoption of technologies such as IoT and artificial intelligence are expected to shape up the delivery of credit card products and services in the near future.
Credit card issuers and operators have also focused on strengthening acceptance infrastructure, promoting and incentivizing digital payments for the right target audience, and partnering with key technology players which will give a positive outlook for the future and hence it is expected that the number of transactions will have positive growth. Issuers and operators have firstly adopted and are encouraging the introduction of a QR code for low-value payments, contactless payments and payment gateways for processing M-commerce transactions through tokenization in most of the Asian countries.
Asia Credit Cards Market
Adoption of New Technologies: Most of the issuers launched a platform to facilitate single-click real-time payments from consumers to merchants via their respective bank accounts. Payments between accounts of different banks, enabled by a common real-time switch have created major opportunities for real-time payment apps such as Paytm, ApplePay, WeChat Pay and others. Many FinTech players can look at developing apps to support these payments in Asia while also developing similar systems in countries such as Afghanistan, Pakistan, Bangladesh, and Nepal. Sri Lanka’s issuance of a national standard for QR-based payments has further provided a boost to the QR revolution in the Indian sub-continent. This opens up a range of opportunities for banks and financial institutions to enable QR-based payment applications. The countries should also be open to setting up a regulatory sandbox for FinTech firms to test new as well as innovative products for greater financial inclusion.
Analysts at Ken Research in their latest publication “Asia Credit Cards Market Outlook to 2025 – By Commercial and Personal Credit Cards; by Transactions at ATM and POS terminals; by Total Cards in Circulation; by Transaction Value and Volume through issuers & operators; and By Major Countries (Japan, South Korea, India, China, Indonesia, Philippines, Singapore, and Others)” believe that the Asian credit card market will increase owing to rising millennial population and the growth in the technology and FinTech in all the Asian countries. This rise is expected to boost the demand for credit card products and services in Asia owing to the requirement of both personal as well as commercial credit cards. The market is expected to witness a forecasted CAGR of 6.8% in terms of total cards in circulation and a CAGR of 7.4% in terms of total the transaction value for the period 2018-2025.
Key Segments Covered:-
Credit cards
Value of transaction by Issuer and Operator
The volume of a transaction by Issuer and Operator
Number of Credit Cards in Circulation by Issuer and Operator
Commercial and Personal Credit Cards
Transactions at ATM and POS
Countries
India
Indonesia
Malaysia
Singapore
Philippines
South Korea
China
Japan
Other Countries (Vietnam, Thailand, Hong Kong, Taiwan and Rest)
Key Target Audience
Credit/ Debit Card Operator
Credit/ Debit Card Issuers
Prepaid Card Issuers/ Operators
Local/ Foreign Bank
Reward/ Loyalty Program Business Operators
Payment gateway provider
Credit/ Debit Card Issuer
POS Device Manufacturers
Debit/ Credit Card Manufacturing companies
ATM Manufacturing Entities
Regulatory Authorities
Time Period Captured in the Report:-
Historical Period: 2013-2018
Forecast Period: 2018-2025
Companies Covered in Asia Credit Card Market:-
Banks (Issuer)
HDFC, India
Bank Mandiri, Indonesia
Bank CIMB Niaga, Indonesia
UOB, Singapore
DBS, Singapore
Citibank Bhd, Malaysia
Malaysian Banking, Malaysia
Shinhan Card, South Korea
KB Kookmin, South Korea
BDO Unibank, Philippines
Metropolitan Bank, Philippines
ICBC Bank, China
China Merchants Bank, China
JCB, Japan
Credit Saison, Japan
Others (SBI India, Bank CIMB Niaga Indonesia, Bank Mega, Citibank, HSBC Holdings Plc, Rizal Commercial Banking CORP (RCBC) and Rest)
Operators
Visa Inc.
MasterCard
American Express
Bank Central Asia
Union Pay International
Others (Shinhan Card, BC Card, Petron Corp, Taiwan Rakuten Card and Rest)
Key Topics Covered in the Report:-
Asia Credit Cards Market Overview and Genesis
Asia Credit Cards Market Value Chain and Business Model Analysis
Asia Credit Cards Market Size
Trends and Developments in Asia Credit card Market
Issues and Challenges in Asia Credit Cards Market
SWOT Analysis of Asia Credit Cards Market
Regulatory Landscape in Asia Credit Cards market
Asia Credit Card Market Future Outlook and Projections
Country Profiles (Japan, South Korea, India, China, Indonesia, Malaysia, Philippines, and Singapore) within Asia Credit Cards Market
Analyst Recommendations in Asia Credit Cards Market
Success Case Study in Asia Credit Cards Market
For Information Click On the Below Mentioned Link:-
Related Reports by Ken Research:-
Contact Us: -
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249
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Location: Asia

Wednesday, December 4, 2019

Asia Credit Cards Market is driven by Increasing POS and ATM Terminals Coupled with Rising Prominence of Consumer-Centric Reward Point Programs: Ken Research

Some of the key factors driving growth in the Asia Credit Card Market are digitalization, development of infrastructure (Integration with Artificial Intelligent Platforms, POS Terminals, and ATM Terminals), Improved Member Merchants Discounts, Rewards and Loyalty Programs, Increasing Disposable Income and Reducing Interest Rates.
The Asia credit cards market has been observed to be at a late growth stage. The competitive growth in the credit card industry of Asia was majorly driven by deep client partnerships, strong cross-border growth, long-term growth opportunities, and tailored strategies. The digital payments industry in Asia has scaled up rapidly over the last few years which has led to an increase in credit card usage. The growth is majorly driven by usage among youth and the younger population. About 83.0% of millennials aged 25-34 years use credit cards more than any other age group.
Asia Credit Cards Market
Increasing Digital Payments Industry: The rise of affordable smartphones and sub-sequent internet and mobile penetration has led to significant growth in the digital payments space amongst Asian countries. Users have steadily embraced non-cash methods over the years especially the usage of credit cards.
The introduction of various types of credit cards such as reward-based cards for gaining reward points against shopping, traveling and even filling up the fuel in vehicles has also driven the growth of credit cards. Additionally, the design, as well as the appearance of the credit cards, can be customized as per the user's need. Partnerships with the FinTech will play a crucial role in the development of a digital payments ecosystem by promoting innovation and enabling open-loop payments that promote the adoption of digital payments.
Most of the Asian countries such as India, Indonesia, Malaysia, and others have just started their cashless journey. The countries are highly dependent on cash with the majority of the transactions being made in cash. Asian countries have eliminated many of the typical macro-economic factors to move forward to being a cashless economy; however, low rates of financial inclusion are having an adverse impact on the growth of cashless payments. The role of specific regulatory bodies such as RBI in India and The Peoples Bank of China in monitoring, regulating and promoting digital payments and credit card usage in Asia will have a great impact on the issuance of the credit cards and the transaction value and volume in present and in the future as well. The use of traditional cashless methods such as cheques is on the decline. Cheques are increasingly becoming a US-only phenomenon and will be replaced soon by other payment methods. China, South Korea, and India have recorded a major decrease in cheque usage.
Analysts at Ken Research in their latest publication “Asia Credit Cards Market Outlook to 2025 – By Commercial and Personal Credit Cards; by Transactions at ATM and POS terminals; by Total Cards in Circulation; by Transaction Value and Volume through issuers & operators; and By Major Countries (Japan, South Korea, India, China, Indonesia, Philippines, Singapore, and Others)” believe that the Asian credit card the market will increase owing to the rising millennial population and the growth in the technology and FinTech in the all the Asian countries. This rise is expected to boost the demand for credit card products and services in Asia owing to the requirement of both personal as well as commercial credit cards. The market is expected to witness a forecasted CAGR of 6.8% in terms of total cards in circulation and a CAGR of 7.4% in terms of the total transaction value for the period 2018-2025.
Key Segments Covered:-
Credit cards
Value of transaction by Issuer and Operator
Volume of the transaction by Issuer and Operator
Number of Credit Cards in Circulation by Issuer and Operator
Commercial and Personal Credit Cards
Transactions at ATM and POS
Countries
India
Indonesia
Malaysia
Singapore
Philippines
South Korea
China
Japan
Other Countries (Vietnam, Thailand, Hong Kong, Taiwan and Rest)
Key Target Audience
Credit/ Debit Card Operator
Credit/ Debit Card Issuers
Prepaid Card Issuers/ Operators
Local/ Foreign Bank
Reward/ Loyalty Program Business Operators
Payment gateway provider
Credit/ Debit Card Issuer
POS Device Manufacturers
Debit/ Credit Card Manufacturing companies
ATM Manufacturing Entities
Regulatory Authorities
Time Period Captured in the Report:-
Historical Period: 2013-2018
Forecast Period: 2018-2025
Companies Covered in Asia Credit Card Market:-
Banks (Issuer)
HDFC, India
Bank Mandiri, Indonesia
Bank CIMB Niaga, Indonesia
UOB, Singapore
DBS, Singapore
Citibank Bhd, Malaysia
Malaysian Banking, Malaysia
Shinhan Card, South Korea
KB Kookmin, South Korea
BDO Unibank, Philippines
Metropolitan Bank, Philippines
ICBC Bank, China
China Merchants Bank, China
JCB, Japan
Credit Saison, Japan
Others (SBI India, Bank CIMB Niaga Indonesia, Bank Mega, Citibank, HSBC Holdings Plc, Rizal Commercial Banking CORP (RCBC) and Rest)
Operators
Visa Inc.
MasterCard
American Express
Bank Central Asia
Union Pay International
Others (Shinhan Card, BC Card, Petron Corp, Taiwan Rakuten Card and Rest)
Key Topics Covered in the Report:-
Major Credit Card Issuers in Asia
Future of Credit Cards in Asia
Credit Card Market Forecast Hong Kong
Taiwan Credit Cards Market Growth Rate
Expected Credit Cards in Circulation Asia
Number of American Express Cards in Asia
Number of Union Pay International in Asia
Demonetization Impact on India Credit Card Industry
Market Report on Credit Cards Asia
Asia Payment Services Market
Asia Credit Cards Market Transaction Value in USD Million
Contactless Credit Card Holders in Asia
Credit Cards in Circulation in Asia
Credit Card Transaction at ATM in Asia
Credit Card Transactions at POS Terminals
For Information Click On the Below Mentioned Link:-
Related Reports by Ken Research:-
Contact Us: -
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249
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Location: Asia

Tuesday, December 3, 2019

Asia Credit Cards Market Outlook to 2025: Ken Research

The report titled “Asia Credit Cards Market Outlook to 2025 - By Commercial and Personal Credit Cards; By Transactions at ATM and POS Terminals; by Total Cards in Circulation; Transaction Value and Volume through Issuers and Operators; and by Countries (Japan, South Korea, India, China, Indonesia, Philippines, Singapore, and Others” provides a comprehensive analysis of the credit cards industry within Asia covering various aspects including the introduction and genesis, the market size of a credit cards by value and volume of transaction, number of cards in circulation, segmentation by personal and commercial credit cards, transactions at ATM and POS terminals, the transaction value of credit cards through operators and issuers and total cards in circulation by operators and issuers. It also covers issues and challenges, trends and developments, SWOT analysis, country profiles of major countries and regulatory framework of the industry. The report concludes with market projections and analyst recommendations highlighting major opportunities and cautions.
Asia Credit Cards Market
Asia Credit Cards Market Overview and Size
The rapidly increasing digital payments industry in Asia has scaled up rapidly over the last few years which has led to an increase in credit card usage. The total transaction value showcased high growth in Asia along with a CAGR of 14.2% for the period 2013-2018. The rise of affordable smartphones and subsequent internet and mobile penetration has led to significant growth in the digital payments space. The people in these mature markets are aware of digital payments and have steadily embraced non-cash methods over the years. The total number of credit cards in circulation increased at a CAGR of 12.9% during 2013-2018. The current usage of cash in emerging countries exceeds 90.0%. They have seen some traction in the last few years, primarily due to mobile and internet penetration and a focus on financial inclusion through mobile-based services. In most of the developed countries such as Singapore and Japan, more than 80.0% of adults have access to financial services. Regulators and governments of emerging and developing countries can set up a separate entity such as the National Payments Corporation of India (NPCI) to promote retail payments and further increase the usage and circulation of credit cards.
Asia Credit Cards Market Segmentation
Japan was leading in terms of total cards in circulation and also in the total transaction value of credit cards in the year 2018. Total credit cards in circulation had a CAGR of 0.9% in the period 2013-2018. Credit card POS transactions increased steadily over the last year within Asia thus, keeping with the government’s objective of promoting cashless payments in most of the countries. Japan was followed by South Korea, India and China in terms of the total number of credit cards in circulation respectively during the year 2018. Installation of a larger number of POS terminals at merchant locations and the higher number of cards in circulation, especially amongst urban residents, aided the growth of credit card transactions in countries such as China, India, Philippines, and others.
ATM cash withdrawals by credit card are much lower than POS transactions because of high transaction charges in the case of ATM withdrawal. Banks tend to charge 2.5-3.0% of the withdrawn amount subject to a minimum amount.
Comparative Landscape in Asia Credit Cards Market
Competition within the Asia credit card market was observed as concentrated, showcasing the late growth stage. The competitive growth in the credit card industry of Asia was driven by deep client partnerships, strong cross-border growth, significant long-term growth opportunities, and tailored strategies. The major operators in the Asian credit card industry were UnionPay International Co. Ltd., Visa Inc., MasterCard International Inc., JCB Card Co., and Shinhan Financial Group Co. Ltd. in terms of total cards in circulation and total transaction value during the year 2018. Industrial and Commercial Bank of China Ltd dominated in terms of total cards in circulation in 2018. It was followed by China Merchants Bank Co Ltd, China Construction Bank Corp and Bank of China Ltd.
In order to attract a larger customer base, there has been the introduction of various types of credit cards as per the users need such as reward cards for rewards for shopping, traveling and even filling up the fuel in vehicles, there are cards where the design and the appearance of the credit cards can be customized as per the users need, credit cards with NFC technology or contactless technology which helps to make faster payments through POS terminals. All these customer attraction schemes have made the credit card market in Asia to be recognized as highly competitive, therefore, displaying huge barriers for new entrants in almost every country in Asia.
Country Profiles of Major Countries in Asia credit Card Market
In India, banks tightened regulations to address rising defaults, therefore; credit card issuance fell sharply in the early years of the current decade. The growth in credit cards in circulation picked up for both personal and commercial cards in 2018, as banks also looked to increase their revenue from the commercial space.
In Indonesia, the middle and upper-middle classes of credit card users are concerned about the disclosure of tax information due to credit cards being subject to investigation, causing inconvenience. Although subjects of interest are consumers whose transactions exceed IDR 1 billion a year, the public concern is still stirred because of it relating to consumers’ privacy. Hence, people are refraining from making purchases through credit cards, and prefer to use cash instead.
Cashless revolution encouraged credit card transaction volume and value in Singapore.
In Malaysia, credit card issuers are extending services to include installment plans at interest-free or low rates as this type of credit provides convenience thus, eliminating all kinds of complicated paperwork. As a result, the credit card industry in Malaysia has little competition thus, allowing growth despite the rising popularity of mobile payments.
South Korea mobile payment platform drives personal credit card value growth, whilst commercial credit card value growth slows down due to government policy of eliminating corporate tax benefits.
In Philippines, the regulations that implement the Philippine Credit Card Industry Regulation Law (Republic Act No 10870) were approved by the Monetary Board (MB) in May of 2018 to boost the credit cards in circulation and eventually improve the credit card transaction value. The new regulations aim to make credit cards readily available and easier to use for consumers.
In China, intense innovations in IT capabilities help drive the growth of credit cards whereas, in Japan, the government continues to encourage cashless payments as part of its economic growth strategy in 2018.
Asia Credit Cards Market Future Outlook and Projections
By the forecast period ending 2025, it is expected that the total number of credit cards in circulation in Asia will grow at a positive CAGR of 6.8% for the period 2018-2025. The expected growth in contactless payments through credit cards will be a major growth driver for the increase in the transaction value because of the ease and speed provided. The total transaction value of credit cards in Asia will have a CAGR of 7.4% during 2018-2025. Within Asia, major card networks are looking to tie up with banking partners for the issuance of contactless cards. The role of specific regulatory bodies in monitoring, regulating and promoting digital payments in Asia will have a great impact on the issuance of the credit cards in the future. Partnerships with FinTech will play a crucial role in the development of the digital payments ecosystem by promoting innovation and enabling open-loop payments that promote the adoption of digital payments. In countries such as the Philippines, Vietnam, China, Bangladesh, and others, increased remittance partnerships with international players have opened up the market for more such partnerships with money transfer companies to enable digital remittance transfers to accounts and wallets in Bangladesh. Thus, there will be more opportunities for FinTech / banks / international players as regulators and the government bodies are also encouraging new solutions that will boost digital payments.
Key Segments Covered:-
Credit cards
Value of transaction by Issuer and Operator
Volume of the transaction by Issuer and Operator
Number of Credit Cards in Circulation by Issuer and Operator
Commercial and Personal Credit Cards
Transactions at ATM and POS
Countries
India
Indonesia
Malaysia
Singapore
Philippines
South Korea
China
Japan
Other Countries (Vietnam, Thailand, Hong Kong, Taiwan and Rest)
Key Target Audience
Credit/ Debit Card Operator
Credit/ Debit Card Issuers
Prepaid Card Issuers/ Operators
Local/ Foreign Bank
Reward/ Loyalty Program Business Operators
Payment gateway provider
Credit/ Debit Card Issuer
POS Device Manufacturers
Debit/ Credit Card Manufacturing companies
ATM Manufacturing Entities
Regulatory Authorities
Time Period Captured in the Report:-
Historical Period: 2013-2018
Forecast Period: 2018-2025
Companies Covered in Asia Credit Card Market:-
Banks (Issuer)
HDFC, India
Bank Mandiri, Indonesia
Bank CIMB Niaga, Indonesia
UOB, Singapore
DBS, Singapore
Citibank BHD, Malaysia
Malaysian Banking, Malaysia
Shinhan Card, South Korea
KB Kookmin, South Korea
BDO Unibank, Philippines
Metropolitan Bank, Philippines
ICBC Bank, China
China Merchants Bank, China
JCB, Japan
Credit Saison, Japan
Others (SBI India, Bank CIMB Niaga Indonesia, Bank Mega, Citibank, HSBC Holdings Plc, Rizal Commercial Banking CORP (RCBC) and Rest)
Operators
Visa Inc.
MasterCard
American Express
Bank Central Asia
Union Pay International
Others (Shinhan Card, BC Card, Petron Corp, Taiwan Rakuten Card and Rest)
Key Topics Covered in the Report:-
Asia Credit Cards Market Overview and Genesis
Asia Credit Cards Market Value Chain and Business Model Analysis
Asia Credit Cards Market Size
Trends and Developments in Asia Credit card Market
Issues and Challenges in Asia Credit Cards Market
SWOT Analysis of Asia Credit Cards Market
Regulatory Landscape in Asia Credit Cards market
Asia Credit Card Market Future Outlook and Projections
Country Profiles (Japan, South Korea, India, China, Indonesia, Malaysia, Philippines, and Singapore) within Asia Credit Cards Market
Analyst Recommendations in Asia Credit Cards Market
Success Case Study in Asia Credit Cards Market
For Information Click On the Below Mentioned Link:-
Related Reports by Ken Research:-
Contact Us: -
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249
Posted by at No comments:
Labels: , , , , ,
Location: Asia
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