The Cards and Payments Industry in Sweden: Emerging Trends and Opportunities to 2020

The Cards and Payments Industry in Sweden: Emerging Trends and Opportunities to 2020


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Executive Summary

Timetric's 'The Cards and Payments Industry in Sweden: Emerging Trends and Opportunities to 2020' report provides detailed analysis of market trends in the Swedish cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including check payments, payment cards, cash transactions, direct debits and credit transfers during the review period (2011-2015).

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 (2016-2020). It also offers information on the country's competitive landscape, including the 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 details of regulatory policy and recent changes in the regulatory structure.

Summary

Timetric's 'The Cards and Payments Industry in Sweden: Emerging Trends and Opportunities to 2020' report provides top-level market analysis, information and insights into the Swedish cards and payments industry, including:

Current and forecast values for each market in the Swedish cards and payments industry, including debit and pay later 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 and payment types.

Analysis of various market drivers and regulations governing the Swedish cards and payments industry.

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

Comprehensive analysis of consumer attitudes and buying preferences for cards.

The competitive landscape in the Swedish cards and payments industry.

Scope

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

It provides current values for the Swedish cards and payments industry for 2015, and forecast figures to 2020.

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

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

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

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

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

Key Highlights

To capitalize on the growing e-commerce market, Swedish banks expanded Swish, a widely used mobile app for online transactions in January 2016. The app was previously used only for peer-to-peer (P2P) and in-store payments. Swish is owned by a consortium of six Swedish banks-Danske Bank, Handelsbanken, Lnsfrskringar Bank, Nordea, SEB and Swedbank. Since its launch, Swish has grown in popularity, with 4.4 million users in Sweden as of June 7, 2016. In December 2015, USD 688.4 million (SEK5.8 billion) worth of transactions were performed using Swish, which increased to USD 892.3 million (SEK7.5 billion) in May 2016. This move to expand Swish's scope for e-commerce transactions is expected to drive mobile payments (m-payments).

To provide convenient and secured online payments for Swedish consumers, MasterCard launched the MasterPass digital wallet, in association with Nordea, SEB and Swedbank, in December 2015, followed by ICA Banken and Resurs Bank in early 2016. MasterPass users can shop online without having to enter payment and shipping information with every purchase. Swedish consumers can use MasterPass for online and in-app shopping, and the service will gradually be extended to retail payments.

In an attempt to tackle deflation and spur consumer spending, Sweden's central bank-Riksbank-lowered its repo rate to-0.10% in February 2015 and to-0.50% in April 2016, resulting in negative returns on savings and deposits with commercial banks. This will compel consumers to spend, gradually helping the country out of deflation. Over the forecast period (2016-2020), inflation is anticipated to gradually rise from 1.2% in 2016 to 2.1% in 2020. A rise in consumer spending will drive payment card transaction volumes and values.



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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 Klarna

6.1.2 Swish

6.1.3 Seqr

6.1.4 WyWallet

6.1.5 PayPal

6.1.6 Trustly

6.1.7 Pay by palm

6.1.8 MasterPass

7 Regulations in the Cards and Payments Industry

7.1 Regulatory Framework

7.1.1 SEPA cards framework

7.1.2 Swedish laws regarding card use

7.1.3 EBA guidelines on the security of online payments

7.1.4 Interchange fee regulation

7.2 Anti-Money Laundering (AML)

7.3 Foreign Direct Investment 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

9.1 Market Segmentation and Targeting

9.1.1 Consumer cards

9.1.2 Commercial cards

10 Payment Cards

10.1 Payment Cards Market Analysis

10.1.1 Volume and value of payment card transactions by type

11 Debit Cards

11.1 Debit Card Market Analysis

11.1.1 Turnover per debit card and transaction values by channel

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

11.1.3 Debit cards comparison

12 Pay Later Cards

12.1 Pay Later Cards Market Analysis

12.1.1 Turnover per pay later card and transaction values by channel

12.1.2 Pay later cards scheme and issuer shares in terms of transaction value

12.1.3 Pay later cards comparison

13 Commercial Pay Later Cards

13.1 Commercial Pay Later Cards Market Analysis

13.1.1 Commercial pay later cards comparison

14 Card Issuers

14.1 Swedbank

14.2 Svenska Handelsbanken

14.3 Nordea Bank

14.4 Skandinaviska Enskilda Banken (SEB)

14.5 Lnsfrskringar Bank

15 Merchant Acquiring

15.1 Merchant Acquiring Market Analysis

16 Appendix

16.1 Tables

16.2 Contact Timetric

16.3 About Timetric

16.4 Timetric's Services

16.5 Disclaimer

Figure 1: Sweden-Payment Instrument Shares by Transaction Value (%), 2011 vs 2015

Figure 2: Sweden-Payment Instrument Shares by Transaction Volume (%), 2011 vs 2015

Figure 3: Sweden-E-Commerce Value (USD Billion) and Payment Types (%)

Figure 4: Sweden-Total Population and Structure

Figure 5: Sweden-Economic Indicators

Figure 6: Sweden-Number of ATMs and POS Terminals

Figure 7: Sweden-Real Household Consumption and Outbound Tourist Expenditure

Figure 8: Sweden-Segmentation by Card Type, 2016

Figure 9: Sweden-Growth in Payment Card Transaction Values and Number of Cards in Circulation by Type, 2011-2020

Figure 10: Sweden-Volume and Value of Payment Card Transactions by Type (%), 2011-2020

Figure 11: Sweden-Debit Card Penetration and Number of Debit Cards in Circulation, 2011-2020

Figure 12: Sweden-Debit Card, Average Interchange Fees: Intra-Network Transactions (%), 2011-2015

Figure 13: Sweden-Debit Card, Average Merchant Service Charges and Interchange Fees: Domestic Transactions (%), 2011-2020

Figure 14: Sweden-Turnover Per Debit Card and Transaction Values by Channel, 2011-2020

Figure 15: Sweden-Debit Card Scheme and Issuer Shares in Terms of Transaction Value (%), 2015

Figure 16: Sweden-Pay Later Cards Penetration and Number of Pay Later Cards in Circulation, 2011-2020

Figure 17: Sweden-Pay Later, Average Interchange Fees: Intra-Network Transactions (%), 2011-2015

Figure 18: Sweden-Pay Later, Average Merchant Service Charges and Interchange Fees: Domestic Transactions (%), 2011-2020

Figure 19: Sweden-Turnover Per Pay Later Card and Transaction Values by Channel, 2011-2020

Figure 20: Sweden-Pay Later Cards Scheme and Issuer Shares in Terms of Transaction Value (%), 2015

Figure 21: Sweden-Commercial vs Personal Pay Later Cards, Transaction Volumes and Values (%), 2011-2020

Figure 22: Sweden-Number of Commercial Pay Later Cards in Circulation and Transaction Value and Volume, 2011-2020

Figure 23: Sweden-Merchant Acquiring Transaction Volume and Value by Card Type, 2011-2020

Figure 24: Sweden-Acquirers' Market Share in Terms of Transaction Volume and Value (%), 2015

Figure 25: Sweden-Number of Retail Outlets and Card Accepting Merchants (Thousand), 2011-2020

Table 1: Key Definitions

Table 2: Annual Average Exchange Rate

Table 3: Sweden-Key Facts, 2015

Table 4: Regional Benchmarking of Swedish Payment Cards, 2015

Table 5: Sweden-Mode of Entry of Foreign Banks

Table 6: Cards for High-Income Consumers, 2016

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

Table 8: Commercial Cards Comparison and Key Features, 2016

Table 9: Sweden-Debit Cards Comparison and Key Features, 2016

Table 10: Sweden-Gold Credit Cards Comparison and Key Features, 2016

Table 11: Sweden-Premium Credit Cards Comparison and Key Features, 2016

Table 12: Sweden-Charge Cards Comparison and Key Features, 2016

Table 13: Sweden-Commercial Pay Later Cards Comparison and Key Features, 2016

Table 14: Sweden-Payment Instrument Transaction Values (SEK Billion), 2011-2015

Table 15: Sweden-Payment Instrument Transaction Values (USD Billion), 2011-2015

Table 16: Sweden-Payment Instrument Transaction Volumes (Million), 2011-2015

Table 17: Sweden-Number of Payment Cards in Circulation by Type (Million), 2011-2020

Table 18: Sweden-Volume of Payment Card Transactions by Type (Million), 2011-2020

Table 19: Sweden-Value of Payment Card Transactions by Type (SEK Billion), 2011-2020

Table 20: Sweden-Value of Payment Card Transactions by Type (USD Billion), 2011-2020

Table 21: Sweden-Number of Debit Cards in Circulation (Million), 2011-2020

Table 22: Sweden-Debit Card Transaction Volumes and Frequency by Channel, 2011-2020

Table 23: Sweden-Debit Card Total and Average Transaction Values by Channel, 2011-2020

Table 24: Sweden-Debit Card Total and Average Transaction Values by Channel, 2011-2020

Table 25: Sweden-Number of Debit Cards in Circulation By Scheme (Million), 2011-2015

Table 26: Sweden-Debit Card Transaction Values By Scheme (SEK Billion), 2011-2015

Table 27: Sweden-Debit Card Transaction Values By Scheme (USD Billion), 2011-2015

Table 28: Sweden-Debit Card Transaction Values by Issuer (SEK Billion), 2011-2015

Table 29: Sweden-Debit Card Transaction Values by Issuer (USD Billion), 2011-2015

Table 30: Sweden-Number of Pay Later Cards in Circulation (Million), 2011-2020

Table 31: Sweden-Pay Later Card Transaction Volumes and Frequency by Channel, 2011-2020

Table 32: Sweden-Pay Later Card Total and Average Transaction Values by Channel, 2011-2020

Table 33: Sweden-Pay Later Card Total and Average Transaction Values by Channel, 2011-2020

Table 34: Sweden-Number of Pay Later Cards in Circulation By Scheme (Thousand), 2011-2015

Table 35: Sweden-Pay Later Card Transaction Values By Scheme (SEK Billion), 2011-2015

Table 36: Sweden-Pay Later Card Transaction Values By Scheme (USD Billion), 2011-2015

Table 37: Sweden-Pay Later Card Transaction Values By Issuer (SEK Billion), 2011-2015

Table 38: Sweden-Pay Later Card Transaction Values By Issuer (USD Billion), 2011-2015

Table 39: Sweden-Number of Credit Cards in Circulation (Million), 2011-2020

Table 40: Sweden-Credit Card Transaction Volumes and Frequency by Channel, 2011-2020

Table 41: Sweden-Credit Card Total and Average Transaction Values by Channel, 2011-2020

Table 42: Sweden-Credit Card Total and Average Transaction Values by Channel, 2011-2020

Table 43: Sweden-Number of Credit Cards in Circulation By Scheme (Thousand), 2011-2015

Table 44: Sweden-Credit Card Transaction Values By Scheme (SEK Billion), 2011-2015

Table 45: Sweden-Credit Card Transaction Values By Scheme (USD Million), 2011-2015

Table 46: Sweden-Number of Charge Cards in Circulation (Thousand), 2011-2020

Table 47: Sweden-Charge Card Transaction Volumes and Frequency by Channel, 2011-2020

Table 48: Sweden-Charge Card Total and Average Transaction Values by Channel, 2011-2020

Table 49: Sweden-Charge Card Total and Average Transaction Values by Channel, 2011-2020

Table 50: Sweden-Number of Charge Cards in Circulation By Scheme (Thousand), 2011-2015

Table 51: Sweden-Charge Card Transaction Values By Scheme (SEK Billion), 2011-2015

Table 52: Sweden-Charge Card Transaction Values By Scheme (USD Billion), 2011-2015

Table 53: Sweden-Personal and Commercial Pay Later Card Transaction Volumes (Million), 2011-2020

Table 54: Sweden-Personal and Commercial Pay Later Card Transaction Values (SEK Billion), 2011-2020

Table 55: Sweden-Personal and Commercial Pay Later Card Transaction Values (USD Billion), 2011-2020

Table 56: Sweden-Number of Commercial Pay Later Cards in Circulation (Thousand), 2011-2020

Table 57: Sweden-Commercial Pay Later Card Transaction Values (SEK Billion), 2011-2020

Table 58: Sweden-Commercial Pay Later Card Transaction Values (USD Billion), 2011-2020

Table 59: Sweden-Commercial Pay Later Card Transaction Volumes (Million), 2011-2020

Table 60: Sweden-Merchant Acquiring Transaction Volumes by Card Type (Billion), 2011-2020

Table 61: Sweden-Merchant Acquiring Transaction Values by Card Type (SEK Billion), 2011-2020

Table 62: Sweden-Merchant Acquiring Transaction Values by Card Type (USD Billion), 2011-2020

Table 63: Sweden-Acquirers' Transaction Volumes (Million), 2011-2015

Table 64: Sweden-Acquirers' Transaction Values (SEK Billion), 2011-2015

Table 65: Sweden-Acquirers' Transaction Values (USD Billion), 2011-2015

Table 66: Sweden-Retail Outlets and Card Accepting Merchants (Thousand), 2011-2020

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Swedbank

Svenska Handelsbanken

Nordea Bank

Skandinaviska Enskilda Banken

Lnsfrskringar Bank

ICA Banken

Visa

MasterCard

American Express

Diners Club

Nets

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