The Report “Norway’s Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape″ by Timetric is now available at RnRMarketResearch.com. Contact sales@rnrmarketresearch.com with “Norway’s Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape″ in subject line and your contact details to purchase this report or get your questions answered.
Synopsis
The report provides top-level market analysis, information and insights into Norway’s cards and payments industry, including:
• Current and forecast values for each category of Norway’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 Norway’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 Norway’s cards and payments industry
Summary
The Norwegian card payments channel registered significant growth during the review period (2009-2013). In terms of number of cards in circulation, the card payments channel grew at a CAGR of 2.86% to reach 18.6 million cards by the end of 2013. In value terms, the channel valued NOK647.9 billion (US$108.9 billion) in 2013. Changing lifestyle demographics, the increased popularity of online shopping and higher disposable per capita incomes supported the growth of the number of cards in circulation.
The younger generation is a considerable and growing target group in terms of card spending. To tap into this younger population, SpareBank 1 SR-Bank in Norway offers a Visa card for children under 13 years old. Amounts in the accounts linked to these card can be controlled by parents, there is no issuance fee and it is free to use in stores and at SpareBank 1s ATMs. The bank also offers a Visa Electron credit card for people aged 13-18 years, with no annual fees and free use for retail payments in Norway and abroad. SpareBanken Vest also offers the Vestavinn 13-17 client program for teenagers to manage spending and savings. The program includes a Visa Electron 10-17 card with benefits such as no annual fees, fee-free purchases around the world and 24-hour withdrawal facilities at Union Bank Vest ATMs, and reduced-cost withdrawals in foreign countries.
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Scope
• This report provides a comprehensive analysis of Norway’s cards and payments industry.
• It provides current values for Norway’s cards and payments industry for 2013, and forecast figures for 2018.
