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The Cards and Payments Industry in Lithuania: Emerging Trends and Opportunities to 2019

The Cards and Payments Industry in Lithuania: Emerging Trends and Opportunities to 2019


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Executive Summary

Timetric's 'Cards and Payments Industry in Lithuania: Emerging Trends and Opportunities to 2019' report provides a detailed analysis of market trends in Lithuania's cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including credit transfers, check payments, payment cards, cash transactions and direct debits during the review period (2010-2014).

The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, as well as transaction values and volumes during the review period and over the forecast period (2015-2019). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together Timetric's research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.

Summary

Timetric's 'Cards and Payments Industry in Lithuania: Emerging Trends and Opportunities to 2019' report provides top-level market analysis, information and insights into the Lithuanian cards and payments industry, including:

Current and forecast values for each market in the industry, including debit and credit cards.

Detailed insights into payment instruments, including credit transfers, cash transactions, payment cards, direct debits and checks. It also includes an overview of the country's key alternative payment instruments.

E-commerce market analysis.

Analysis of various market drivers and regulations governing Lithuania's cards and payments industry.

Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.

Comprehensive analysis of consumer attitudes and buying preferences for cards.

The competitive landscape of the Lithuanian cards and payments industry.

Scope

This report provides a comprehensive analysis of Lithuania's cards and payments industry.

It provides current values for the industry for 2014, and forecast figures to 2019.

It details the different demographic, economic, infrastructural and business drivers affecting Lithuania's cards and payments industry.

It outlines the current regulatory framework in the industry.

It details marketing strategies used by various banks and other institutions.

Reasons To Buy

Make strategic business decisions, using top-level historic and forecast market data related to Lithuania cards and payments industry and each market within it.

Understand the key market trends and growth opportunities in the industry.

Assess the competitive dynamics in the industry.

Gain insights into marketing strategies used for various card types in Lithuania.

Gain insights into key regulations governing Lithuania's cards and payments industry.

Key Highlights

Lithuania became an EU member on January 1, 2015. Its accession means Lithuania is required to adopt the Single Euro Payments Area (SEPA) framework, and other regulations that apply to all member states, such as the capping of interchange fees for credit and debit cards at 0.3% and 0.2% respectively. SEPA requirements came into effect in Lithuania from January 2016, which is anticipated to have a major impact on profitability in Lithuania's payment cards market over the forecast period (2015-2019). With interchange fee revenues reduced, issuers are likely to cut card offerings and consumer benefits, and look at new ways to generate revenue.

To protect consumers from financial burden, Lietuvos Bankas, the central bank of Lithuania, amended the responsible lending regulations (RLR) in November 2015. According to the new guidelines, the maximum monthly credit repayment amount cannot be more than 40% of the borrower's monthly income, and the maximum maturity of credit cannot exceed 30 years. The regulation was introduced following a survey conducted by the central bank of Lithuania in January 2016, according to which 75% of families with an income below USD 388.8 (EUR350) were indebted to credit issuers, and 71.8% of indebted families were unable to save in the last half-quarter of 2015. The RLR regulation requires card issuers to assess borrowers' credit repayment capabilities before issuing credit cards. These responsible lending practices are expected to positively affect the credit card market over the forecast period.

Banks are also making concentrated efforts to promote electronic payments among consumers. For instance, Swedbank levied higher fees on cash transactions in July 2013, and encouraged customers to carry out daily transactions electronically. As of March 2016, Swedbank's consumers were charged 0.03% of the total amount-a minimum of USD 0.97 (EUR0.87)-to deposit cash in their own bank accounts. In contrast, the bank did not charge any fee on transactions such as online inter-bank fund transfers and utility bill payments. The rising use of electronic payments is expected to drive use of products such as debit cards.

1 Definitions and Methodology

1.1 Definitions

1.2 Methodology

2 Key Facts and Events

3 Executive Summary

4 Payment Instruments

4.1 Current Payment Environment

5 E-Commerce

5.1 E-Commerce Market Analysis

6 Alternative Payments

6.1 Alternative Payment Instruments

6.1.1 Mokipay mobile wallet

6.1.2 Paysafecard

6.1.3 Medicinos Bankas mobile wallet

7 Regulations in the Cards and Payments Industry

7.1 Regulatory Framework

7.1.1 SEPA cards framework

7.2 Anti-Money Laundering (AML)

7.3 Foreign Direct Investment (FDI) Regulations

8 Analysis of Cards and Payments Industry Drivers

8.1 Demographic Drivers

8.2 Economic Drivers

8.3 Infrastructure Drivers

8.4 Business Drivers

9 Market Segmentation and New Product Launches

9.1 Market Segmentation and Targeting

9.1.1 Consumer cards

9.1.2 Commercial cards

9.2 New Product Launches

10 Payment Cards

10.1 Payment Cards Market Analysis

10.1.1 Volume and value of payment card transactions by type

10.1.2 Personal vs commercial cards

11 Debit Cards

11.1 Debit Card Market Analysis

11.1.1 Debit card transaction volumes and values by channel

11.1.2 Debit card scheme and issuer shares in terms of transaction values

11.1.3 Debit cards comparison

12 Credit Cards

12.1 Credit Card Market Analysis

12.1.1 Credit card transaction volumes and values by channel

12.1.2 Credit card scheme and issuer shares in terms of transaction value

12.1.3 Credit cards comparison

13 Commercial Cards

13.1 Commercial Card Market Analysis

13.1.1 Commercial cards comparison

14 Appendix

14.1 Tables

14.2 Contact Timetric

14.3 About Timetric

14.4 Timetric's Services

14.5 Disclaimer

Figure 1: Lithuania-Payment Instrument Shares by Transaction Value (%), 2010 and 2014

Figure 2: Lithuania-Payment Instrument Shares by Transaction Volume (%), 2010 and 2014

Figure 3: Lithuania-E-Commerce Value (USD Billion), 2010-2019

Figure 4: Lithuania-Total Population and Structure

Figure 5: Lithuania-Economic Indicators

Figure 6: Lithuania-Number of ATMs and POS Terminals

Figure 7: Lithuania-Real Household Consumption

Figure 8: Lithuania-Segmentation by Card Type, 2016

Figure 9: Lithuania-Growth in Payment Card Transaction Values and Number of Cards in Circulation by Type, 2010-2019

Figure 10: Lithuania-Volume and Value of Payment Card Transactions by Type (%), 2010-2019

Figure 11: Lithuania-Personal and Commercial Card, Transaction Volumes and Values (%), 2010-2019

Figure 12: Lithuania-Growth in Debit Card Transaction Values and Number of Debit Cards in Circulation, 2010-2019

Figure 13: Lithuania-Debit Card Transaction Volumes and Values by Channel, 2010-2019

Figure 14: Lithuania-Debit Card Scheme and Issuer Shares in Terms of Transaction Value (%), 2014

Figure 15: Lithuania-Growth in Credit Card Transaction Values and Number of Credit Cards in Circulation, 2010-2019

Figure 16: Lithuania-Credit Card Transaction Volumes and Values by Channel, 2010-2019

Figure 17: Lithuania-Credit Card Scheme and Issuer Shares in Terms of Transaction Value (%), 2014

Figure 18: Lithuania-Number of Commercial Cards in Circulation and Transaction Value, 2010-2019

Table 1: Key Definitions

Table 2: Annual Average Exchange Rate

Table 3: Lithuania-Key Facts, 2014

Table 4: Regional Benchmarking of Lithuanian Payment Cards, 2014

Table 5: Lithuania-Mode of Entry of Foreign Banks

Table 6: Cards for High-Income Consumers, 2016

Table 7: Cards for Students and the Youth Population, 2016

Table 8: Cards for Online Shoppers, 2016

Table 9: Commercial Cards Comparison and Key Features, 2016

Table 10: Lithuania-New Product Launch

Table 11: Lithuania-Visa Domestic Multi-Lateral Interchange Fees, 2015

Table 12: Lithuania-MasterCard Consumer Card Interchange Fees

Table 13: Lithuania-MasterCard Commercial Card Interchange Fees

Table 14: Lithuania-Debit Card Comparisons and Key Features, 2016

Table 15: Lithuania-Visa Domestic Multi-lateral Interchange Fees, 2015

Table 16: Lithuania-MasterCard Consumer Card Interchange Fees

Table 17: Lithuania-MasterCard Commercial Card Interchange Fees, 2014

Table 18: Lithuania-Gold Credit Cards Comparison and Key Features, 2016

Table 19: Lithuania-Premium Credit Cards Comparison and Key Features, 2016

Table 20: Lithuania-Commercial Card Comparisons and Key Features, 2016

Table 21: Lithuania-Payment Instrument Transaction Values (EUR Billion), 2010-2014

Table 22: Lithuania-Payment Instrument Transaction Values (USD Billion), 2010-2014

Table 23: Lithuania-Payment Instrument Transaction Volumes (Million), 2010-2014

Table 24: Lithuania-Number of Payment Cards in Circulation by Type (Million), 2010-2019

Table 25: Lithuania-Volume of Payment Card Transactions by Type (Million), 2010-2019

Table 26: Lithuania-Value of Payment Card Transactions by Type (EUR Billion), 2010-2019

Table 27: Lithuania-Value of Payment Card Transactions by Type (USD Billion), 2010-2019

Table 28: Lithuania-Personal and Commercial Card Transaction Volumes (Million), 2010-2019

Table 29: Lithuania-Personal and Commercial Card Transaction Values (EUR Million), 2010-2019

Table 30: Lithuania-Personal and Commercial Card Transaction Values (USD Million), 2010-2019

Table 31: Lithuania-Number of Debit Cards in Circulation (Million), 2010-2019

Table 32: Lithuania-Debit Card Transaction Volumes and Frequency by Channel, 2010-2019

Table 33: Lithuania-Debit Card Total and Average Transaction Values by Channel, 2010-2019

Table 34: Lithuania-Debit Card Total and Average Transaction Values by Channel, 2010-2019

Table 35: Lithuania-Number of Debit Cards in Circulation by Scheme (Million), 2010-2014

Table 36: Lithuania-Debit Card Transaction Values by Scheme (EUR Billion), 2010-2014

Table 37: Lithuania-Debit Card Transaction Values by Scheme (USD Billion), 2010-2014

Table 38: Lithuania-Debit Card Transaction Values by Issuer (EUR Billion), 2010-2014

Table 39: Lithuania-Debit Card Transaction Values by Issuer (USD Billion), 2010-2014

Table 40: Lithuania-Number of Credit Cards in Circulation (Thousand), 2010-2019

Table 41: Lithuania-Credit Card Transaction Volumes and Frequency by Channel, 2010-2019

Table 42: Lithuania-Credit Card Total and Average Transaction Values by Channel, 2010-2019

Table 43: Lithuania-Credit Card Total and Average Transaction Values by Channel, 2010-2019

Table 44: Lithuania-Number of Credit Cards in Circulation by Scheme (Thousand), 2010-2014

Table 45: Lithuania-Credit Card Transaction Values by Scheme (EUR Million), 2010-2014

Table 46: Lithuania-Credit Card Transaction Values by Scheme (USD Million), 2010-2014

Table 47: Lithuania-Credit Card Transaction Values by Issuer (EUR Million), 2010-2014

Table 48: Lithuania-Credit Card Transaction Values by Issuer (USD Million), 2010-2014

Table 49: Lithuania-Number of Commercial Cards in Circulation (Thousand), 2010-2019

Table 50: Lithuania-Commercial Card Transaction Values (EUR Million), 2010-2019

Table 51: Lithuania-Commercial Card Transaction Values (USD Million), 2010-2019

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Swedbank

AB SEB Bankas

AB DNB Bankas

Danske Bank

Bankas Snoras AB

AB Citadele Bankas

Visa

MasterCard

The cards and payments industry in Lithuania, Financial cards, Debit cards, Credit cards, EMV cards, E-commerce, Alternative payments


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