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South Koreas Cards and Payments Industry : Market Overview
 

South Koreas Cards and Payments Industry : Market Overview

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The South Korean card payments channel registered growth during the review period (2009–2013) posting a compound annual growth rate (CAGR) of 4.22% to reach 294.4 million cards in circulation by the end of 2013. The card payments channel valued KRW986.0 trillion (US$899.5 billion) in 2013.

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    South Koreas Cards and Payments Industry : Market Overview South Koreas Cards and Payments Industry : Market Overview Document Transcript

    • South Koreas Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape Synopsis The report provides top-level market analysis, information and insights into South Korea's cards and payments industry, including: Current and forecast values for each category of South Korea's cards and payments industry, including debit cards, credit cards and prepaid cards Comprehensive analysis of the industry’s market attractiveness and future growth areas Analysis of various market drivers and regulations governing South Korea's cards and payments industry Detailed analysis of the marketing strategies adopted for selling debit, credit 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 South Korea's cards and payments industry Executive summary The South Korean card payments channel registered growth during the review period (2009–2013) posting a compound annual growth rate (CAGR) of 4.22% to reach 294.4 million cards in circulation by the end of 2013. The card payments channel valued KRW986.0 trillion (US$899.5 billion) in 2013. Changing lifestyle demographics, the increased popularity of online shopping and higher disposable income per capita supported the growth of the volume of cards in circulation. The debit card category occupied the largest share and grew at a review-period CAGR of 4.19%. Over the forecast period (2014−2018) the debit card category is expected to post a CAGR of 1.84%. The credit card category occupied the second-largest share at a review-period CAGR of 2.82%. The credit card category is expected to register a forecast-period CAGR of 1.80%. An increase in household debt burden has prompted the South Korean government to introduce measures to discourage credit card spending. The government reduced tax deductions on credit card transactions and increased tax deductions for debit and prepaid cards. During the first three quarters of 2011, merchandize credit valued KRW1.6 trillion (US$1.44 billion), whereas during the first three quarters of 2012, that value was reduced to KRW0.1 trillion (US$90 million). Spin-off credit card units are expected to increase competition over the forecast period. Many banks and non-bank firms opt for spin-off credit card firms in association with existing competitors such as telecom operators. Scope This report provides a comprehensive analysis of South Korea's cards and payments industry. It provides current values for South Korea's cards and payments industry for 2013, and forecast figures for the period up to 2018. It details the different economic, infrastructural and business drivers affecting South Korea'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 South Korea's cards and payments industry. Reasons to buy Make strategic business decisions using top-level historic and forecast market data related to South Korea's cards and payments industry and each market within it. Understand the key market trends and growth opportunities within South Korea's cards and payments industry. Assess the competitive dynamics in South Korea's cards and payments industry. Gain insights in to the marketing strategies used for selling various card types in South Korea. Gain insights into key regulations governing South Korea's cards and payments industry. Key highlights The South Korean card payments channel registered growth during the review period (2009–2013) posting a compound annual growth rate (CAGR) of 4.22% to reach 294.4 million cards in circulation by the end of 2013. The card payments channel valued KRW986.0 trillion (US$899.5 billion) in 2013. The debit card category occupied the largest share and grew at a review-period CAGR of 4.19%. Over the forecast period (2014−2018) the debit card category is expected to post a CAGR of 1.84%. The credit card category occupied the second-largest share at a review-period CAGR of 2.82%. The credit card category is expected to register a forecast-period CAGR of 1.80%. NFC-based platforms for smartphones increased the volume of mobile commerce (m-commerce) transactions in South Korea. SK Telecom and KT jointly sold 250,000 NFC-enabled Samsung Galaxy Notes in December 2011 alone. An increase in household debt burden has prompted the South Korean government to introduce measures to discourage credit card spending. The government reduced tax deductions on credit card transactions and increased tax deductions for debit and prepaid cards. During the first three quarters of 2011, merchandize credit valued KRW1.6 trillion (US$1.44 billion), whereas during the first three quarters of 2012, that value was reduced to KRW0.1 trillion (US$90 million). Spin-off credit card units are expected to increase competition over the forecast period. Many banks and non-bank firms opt for spin-off credit card firms in association with existing competitors such as telecom operators. In 2010, Hana Financial established a joint venture with SK Telecom, South Korea's leading mobile operator. Similarly, Woori bank span-off its credit card division in March, 2013, while Kookmin bank, part of the KB Financial Group span-off its credit card unit in 2011. table Of Contents 1 Executive Summary 2 Analysis Of Industry Environment, Key Trends And Drivers 2.1 Payment Infrastructure And Emerging Technologies 2.1.1 Automatic Teller Machines (atms) 2.1.2 Point Of Sale (pos) Terminals 2.1.3 Internet Penetration 2.1.4 Contactless Technologies/nfc Technology 2.1.5 Emv 2.2 Business Drivers 2.2.1 Growth Of Online Commerce 2.2.2 Retail Sales Value 2.2.3 M-payment Value 2.3 Economic Drivers 2.3.1 Gdp Growth 2.3.2 Gdp Per Capita Income 2.3.3 Inflation South Koreas Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape
    • 2.3.4 Low Unemployment 3 Cards And Payments Industry Share Analysis 3.1 Industry Overview 3.1.1 Cash 3.1.2 Checks 3.1.3 Direct Debits 3.1.4 Credit Transfers 3.1.5 Cards 4 Regulatory Framework And Card Fraud Statistics 4.1 Regulatory Framework 4.1.1 Foreign Direct Investment (fdi) Regulations 4.2 Card Fraud Statistics 4.2.1 Card-not-present 4.2.2 Counterfeit Cards 4.2.3 Cards Lost Or Stolen 4.2.4 Card Id Theft 5 Emerging Consumer Attitudes And Trends 5.1 Market Segmentation And Targeting 5.1.1 Retail Segment 5.1.2 Corporate Segment 5.2 Travel And Tourism Spending 5.2.1 Outbound Tourists Volume 5.2.2 Outbound Tourist Spending 5.3 Retail Card Spending 5.3.1 Analysis By Product Categories 5.3.2 Analysis By Retail Channels 6 Analysis Of Card Payments And Growth Prospects 6.1 Channel Share Analysis By Card Category 6.2 Size And Forecast Of The Card Payments Channel 6.2.1 Analysis By Volume Of Cards In Circulation 6.2.2 Analysis By Transaction Value 7 Analysis Of Credit Card Payments And Growth Prospects 7.1 Overall Category Size And Forecast 7.1.1 Analysis By Volume Of Cards In Circulation 7.1.2 Analysis By Transaction Value 7.1.3 Analysis By Transaction Volume 7.2 Transaction Share Analysis By Channel 7.2.1 Analysis By Transaction Value 7.2.2 Analysis By Transaction Volume 7.3 Personal Credit Cards Size And Forecast 7.3.1 Analysis By Volume Of Cards In Circulation 7.3.2 Analysis By Transaction Value 7.3.3 Analysis By Transaction Volume 7.4 Commercial Credit Cards Size And Forecast 7.4.1 Analysis By Number Of Cards In Circulation 7.4.2 Analysis By Transaction Value 7.4.3 Analysis By Transaction Volume 7.5 Competitive Landscape 7.5.1 Scheme Share Analysis 7.5.2 Issuer Share Analysis 8 Analysis Of Debit Card Payments And Growth Prospects 8.1 Overall Category Size And Forecast 8.1.1 Analysis By Volume Of Cards In Circulation 8.1.2 Analysis By Transaction Value 8.1.3 Analysis By Transaction Volume 8.2 Transaction Share Analysis By Channel South Koreas Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape
    • 8.2.1 Analysis By Transaction Value 8.2.2 Analysis By Transaction Volume 8.3 Competitive Landscape 8.3.1 Scheme Share Analysis 8.3.2 Issuer Share Analysis 9 Analysis Of Charge Card Payments And Growth Prospects 9.1 Overall Category Size And Forecast 9.1.1 Analysis By Volume Of Cards In Circulation 9.1.2 Analysis By Transaction Value 9.1.3 Analysis By Transaction Volume 9.2 Transaction Share Analysis By Channel 9.2.1 Analysis By Transaction Value 9.2.2 Analysis By Transaction Volume 9.3 Personal Charge Cards Size And Forecast 9.3.1 Analysis By Number Of Cards In Circulation 9.3.2 Analysis By Transaction Value 9.3.3 Analysis By Transaction Volume 9.4 Commercial Charge Cards Size And Forecast 9.4.1 Analysis By Volume Of Cards In Circulation 9.4.2 Analysis By Transaction Value 9.4.3 Analysis By Transaction Volume 9.5 Competitive Landscape 9.5.1 Scheme Share Analysis 9.5.2 Issuer Share Analysis 10 Analysis Of Prepaid Card Payments And Growth Prospects 10.1 Overall Category Size And Forecast 10.1.1 Analysis By Volume Of Cards In Circulation 10.1.2 Analysis By Transaction Value 10.2 Open-loop Prepaid Cards Segment Size And Forecast 10.2.1 Analysis By Number Of Cards In Circulation 10.2.2 Analysis By Transaction Value 10.3 Closed-loop Prepaid Cards Segment Size And Forecast 10.3.1 Analysis By Volume Of Cards In Circulation 10.3.2 Analysis By Transaction Value 11 Merchant Acquiring 11.1 Merchant Acquirers In The Country 12 Company Profiles Of Card Issuers 12.1 Shinhan Bank 12.1.1 Key Financials 12.1.2 Card Portfolio 12.1.3 Strategies 12.2 Woori Bank 12.2.1 Key Financials 12.2.2 Card Portfolio 12.2.3 Strategies 12.3 Keb Card 12.3.1 Key Financials 12.3.2 Card Portfolio 12.3.3 Strategies 12.4 Samsung Card 12.4.1 Key Financials 12.4.2 Card Portfolio 12.4.3 Strategies 12.5 Citibank Korea 12.5.1 Key Financials 12.5.2 Card Portfolio 12.5.3 Strategies 13 Appendix South Koreas Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape
    • 13.1 Methodology 13.2 Contact Timetric 13.3 About Timetric 13.4 Timetric’s Services 13.5 Definitions 13.6 Disclaimer ResearchMoz(http://www.researchmoz.us/) is the one stop online destination to find and buy market research reports & Industry Analysis. We fulfill all your research needs spanning across industry verticals with our huge collection of market research reports. We provide our services to all sizes of organizations and across all industry verticals and markets. Our Research Coordinators have in-depth knowledge of reports as well as publishers and will assist you in making an informed decision by giving you unbiased and deep insights on which reports will satisfy your needs at the best price. Contact: M/s Sheela, 90 State Street, Suite 700, Albany NY - 12207 United States Tel: +1-518-618-1030 USA - Canada Toll Free 866-997-4948 Email: sales@researchmoz.us Website: http://www.researchmoz.us/ South Koreas Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape