South Africa’s Cards and Payments Market - Key Trends and Opportunities
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The Report “South Africa’s Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape″ by Timetric is now available at ...
The Report “South Africa’s Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape″ by Timetric is now available at RnRMarketResearch.com. Contact firstname.lastname@example.org with “South Africa’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.
The report provides top-level market analysis, information and insights into South Africa’s cards and payments industry, including:
• Current and forecast values for each category of South Africa’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 Africa’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 Africa’s cards and payments industry
The South African card payments channel registered growth during the review period (2009-2013). The number of cards in circulation recorded a review-period CAGR of 17.60%. The country’s positive economic outlook, the demand for more sophisticated prepaid and charge card products and the growth of online shopping supported the growth of the card payments channel. Over the forecast period (2014?2018), the channel is expected to increase at a CAGR of 7.60%, as consumers move away from cash payments. During the review period, the South African card payments channel grew in both volume and value terms. In terms of the volume of cards in circulation, debit cards accounted for the largest channel share of 58.0% in 2013, followed by prepaid cards with 26.0%. The main contributor to the growth of prepaid cards was a rise in demand for open-loop prepaid cards among the unbanked population. Technological developments were a key factor in the growth of the card payments channel in South Africa during the review period. Mini automatic teller machines (ATMs) were introduced by First National Bank, while mobile ATMs and wireless point of sale (POS) terminals were introduced by other national and foreign banks. With the increasing adoption of smartphones, handset manufacturers are promoting near-field communication (NFC) technology. However, retailers and banks in South Africa require clearly defined security benefits and cost-reductions before they will adopt NFC on a large scale.
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