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The Cards and Payments Industry in Romania: Emerging Trends and Opportunities to 2021

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The Cards and Payments Industry in Romania: Emerging Trends and Opportunities to 2021

Summary

GlobalData's "The Cards and Payments Industry in Romania: Emerging Trends and Opportunities to 2021" report provides top-level market analysis, information and insights into the Romanian cards and payments industry, including

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

Detailed insights into payment instruments including credit transfers, direct debits, cash transactions, checks and payment cards. 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 the Romanian cards and payments industry.

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

Comprehensive analysis of consumer attitudes and buying preferences for cards.

The competitive landscape in the Romanian cards and payments industry.

This report provides detailed analysis of market trends in the Romanian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including credit transfers, direct debits, check payments, payment cards and cash transactions during the review period (20122016).

The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, and transaction values and volumes during the review period and over the forecast period (20172021). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.

The report brings together GlobalData's research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in the regulatory structure.

To reduce society's dependence on cash and restrict tax evasion, the National Bank of Romania (NBR) introduced a US$1248.2 (RON5,000) per day cap on cash transactions for individuals, and US$2,496.5 (RON10,000) per day cap for companies in March 2015. The limit placed on cash transactions encouraged the use of electronic payments.

Alternative payments are slowly emerging in Romania with banks, PSPs and telecom companies launching new solutions. Vodafone launched its person-to-person (P2P) solution, M-pesa in March 2014. Similarly, Seamless launched Seqr in partnership with Garanti Bank in 2013. To expand its market presence, it partnered with Raiffeisen Bank to provide banks customer with its m-payment solution in June 2016.

The eurozone crisis had a profound effect on the Romanian banking sector, and led to a period of consolidation. In April 2015, Banca Transilvania's (BT) acquired the Romanian unit of Volksbanken AG. In 2013, UniCredit Tiriac Bank acquired Royal Bank of Scotland Romania's retail portfolio and Raiffeisen Romania acquired Citibank Romania's retail portfolio. This is likely to lead to concentration in both the card-issuing and merchant-acquiring businesses.

Scope

This report provides a comprehensive analysis of the Romanian cards and payments industry.

It provides current values for the Romanian cards and payments industry for 2016, and forecast figures to 2021.

It details the different demographic, economic, infrastructural and business drivers affecting the Romanian 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 the Romanian cards and payments industry and each market within it.

Understand the key market trends and growth opportunities in the Romanian cards and payments industry.

Assess the competitive dynamics in the Romanian cards and payments industry.

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

Gain insights into key regulations governing the Romanian cards and payments industry.

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Table Of Content

Scope

Table of Contents

EXECUTIVE SUMMARY 2

1.1. Market overview 2

1.2. Key facts 3

1.3. Top five industry events 4

2. PAYMENT INSTRUMENTS 10

2.1. Current payment environment 10

3. E-COMMERCE AND ALTERNATIVE PAYMENTS 12

3.1. E-commerce market analysis 12

3.2. Alternative payment solutions 13

3.2.1. Seqr 13

3.2.2. Netopia mobilPay 13

3.2.3. M-Pesa 13

3.2.4. MasterPass 14

3.2.5. PayPal 14

3.2.6. Paysafecard 14

3.2.7. Romcard 14

4. REGULATIONS IN THE CARDS AND PAYMENTS INDUSTRY 15

4.1. Regulatory framework 15

4.1.1. SEPA implementation 15

4.1.2. Implementation of the payment services directive (PSD) 16

4.1.3. Interchange fee regulation 17

4.2. Anti-money laundering 17

4.3. Foreign direct investment (FDI) regulations 17

5. ANALYSIS OF CARDS AND PAYMENTS INDUSTRY DRIVERS 19

6. PAYMENT CARDS 21

7. DEBIT CARDS 23

7.1. Debit cards market analysis 23

7.2. Competition in the debit cards market 25

7.3. Debit cards comparison 26

8. PAY LATER CARDS 27

8.1. Pay later cards market analysis 27

8.2. Competition in the pay later cards market 29

8.3. Pay later cards comparison 31

9. PREPAID CARDS 32

10. APPENDIX 33

10.1. Abbreviations and acronyms 33

10.2. Supplementary data 34

10.3. Definitions 46

10.4. Common payment card features 47

10.5. Methodology 48

10.6. Bibliography 50

10.7. Further reading 50


List Of Figure

List of Figures

Figure 1: Romania, Payment Instrument Shares by Transaction Value (%), 2012 vs 2016 10

Figure 2: Romania, Payment Instrument Shares by Transaction Volume (%), 2012 vs 2016 11

Figure 3: Romania, E-Commerce Value 12

Figure 4: Romania, Population and Economic Indicators 19

Figure 5: Romania, ATMs, POS Terminals and Household Consumption 20

Figure 6: Romania, Payment Cards Transaction Value and Cards in Circulation (%), 2012-2021 21

Figure 7: Romania, Debit Card Penetration and Turnover per Card, 2016 23

Figure 8: Romania, Debit Cards Scheme and Issuer Transaction Value Share (%), 2016 25

Figure 9: Romania, Pay Later Card Penetration and Turnover Per Card, 2016 27

Figure 10: Romania, Pay Later Cards Scheme and Issuer Transaction Value Share (%), 2016 29

Figure 11: Romania, Prepaid Cards in Circulation and Transaction Value, 2012-2021 32


List Of Table

List of Tables

Table 1: Romania, Key Facts, 2016 3

Table 2: Romania, Regional Benchmarking of Payment Cards, 2016 3

Table 3: Romania, Modes of Entry for Foreign Banks 18

Table 4: Romania, Debit Cards Comparison and Key Features, 2016 26

Table 5: Romania, Gold Credit Cards Comparison and Key Features, 2016 31

Table 6: Romania, Premium Credit Cards Comparison and Key Features, 2016 31

Table 7: Romania, Payment Instrument Transaction Values (RON Billion), 2012-2016 34

Table 8: Romania, Payment Instrument Transaction Values (US$ Billion), 2012-2016 34

Table 9: Romania, Payment Instrument Transaction Volumes (Million), 2012-2016 34

Table 10: Romania, Payment Cards in Circulation by Type (Million), 2012-2021 35

Table 11: Romania, Volume of Payment Card Transactions (Million), 2012-2021 35

Table 12: Romania, Value of Payment Card Transactions (RON Billion), 2012-2021 35

Table 13: Romania, Value of Payment Card Transactions (US$ Billion), 2012-2021 35

Table 14: Romania, Debit Cards in Circulation (Million), 2012-2021 36

Table 15: Romania, Debit Card Transaction Volumes, 2012-2021 36

Table 16: Romania, Debit Card Transaction Values (RON), 2012-2021 36

Table 17: Romania, Debit Card Transaction Values (US$), 2012-2021 37

Table 18: Romania, Debit Cards in Circulation by Scheme (Million), 2012-2016 37

Table 19: Romania, Debit Card Transaction Values by Scheme (RON Billion), 2012-2016 37

Table 20: Romania, Debit Card Transaction Values by Scheme (US$ Billion), 2012-2016 37

Table 21: Romania, Debit Card Transaction Values by Issuer (RON Billion), 2012-2016 38

Table 22: Romania, Debit Card Transaction Values by Issuer (US$ Billion), 2012-2016 38

Table 23: Romania, Pay Later Cards in Circulation (Million), 2012-2021 38

Table 24: Romania, Pay Later Card Transaction Volumes, 2012-2021 39

Table 25: Romania, Pay Later Card Transaction Values (RON), 2012-2021 39

Table 26: Romania, Pay Later Card Transaction Values (US$), 2012-2021 39

Table 27: Romania, Pay Later Cards in Circulation by Scheme (Thousand), 2012-2016 40

Table 28: Romania, Pay Later Card Transaction Values by Scheme (RON Billion), 2012-2016 40

Table 29: Romania, Pay Later Card Transaction Values by Scheme (US$ Billion), 2012-2016 40

Table 30: Romania, Pay Later Card Transaction Values by Issuer (RON Million), 2012-2016 41

Table 31: Romania, Pay Later Card Transaction Values by Issuer (US$ Million), 2012-2016 41

Table 32: Romania, Credit Cards in Circulation (Million), 2012-2021 42

Table 33: Romania, Credit Card Transaction Volumes, 2012-2021 42

Table 34: Romania, Credit Card Transaction Values (RON), 2012-2021 42

Table 35: Romania, Credit Card Transaction Values (US$), 2012-2021 43

Table 36: Romania, Credit Cards in Circulation by Scheme (Million), 2012-2016 43

Table 37: Romania, Credit Card Transaction Values by Scheme (RON Billion), 2012-2016 43

Table 38: Romania, Credit Card Transaction Values by Scheme (US$ Billion), 2012-2016 43

Table 39: Romania, Charge Cards in Circulation (Thousand), 2012-2021 44

Table 40: Romania, Charge Card Transaction Volumes, 2012-2021 44

Table 41: Romania, Charge Card Transaction Values (RON), 2012-2021 44

Table 42: Romania, Charge Card Transaction Values (US$), 2012-2021 45

Table 43: Romania, Prepaid Cards in Circulation (Thousand), 2012-2021 45

Table 44: Romania, Prepaid Card Transaction Values (RON Million), 2012-2021 45

Table 45: Romania, Prepaid Card Transaction Values (US$ Million), 2012-2021 45

Table 46: Definitions of Commonly Used Terms 46

Table 47: Common Features of Payment Cards 47

Table 48: Annual Average Exchange Rate (RON-US$), 2012-2021 49

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Products and Companies


Companies

Banca Transilvana, BRD, Raiffeisen Bank, BCR, ING Bank, CEC bank, Bancpost, Unicredit Bank, OTP Bank, RBS Romania, Credit Europe Bank , Cetelem , American Express, Diners Club, Visa, Mastercard