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

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


  • Products Id :- VR1143MR
  • |
  • Pages: 55
  • |
  • December 2016
  • |
  • |
  Request for Sample Report

Executive Summary

Timetric's 'The Cards and Payments Industry in the Philippines: Emerging Trends and Opportunities to 2021' report provides detailed analysis of market trends in the Filipino cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including check payments, payment cards and cash transactions during the review period (2012-2016).

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 (2017-2021). 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 the Philippines: Emerging Trends and Opportunities to 2021' report provides top-level market analysis, information and insights into the Filipino cards and payments industry, including:

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

Detailed insights into payment instruments including 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 methods.

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

Scope

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

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

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

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

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

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

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

Key Highlights

The central bank, in November 2014 made it mandatory for banks to shift from the traditional magnetic stripe to more secure Europay, MasterCard, and Visa (EMV) chip cards by January 2017. Following the announcement, BancNet signed an agreement with Visa in February 2015 to accelerate the migration to EMV chip cards for all domestic transactions. In addition to cards, the migration process ensures that ATMs and POS terminals are compliant with EMV standards. The increasing adoption of security measures is expected to encourage consumers to carry out more card-based transactions.

The Filipino government in June 2016 approved a new bill aimed at regulating the credit card market by bringing it under the regulatory control of the central bank. The proposal will be enacted into law once it receives approval from the President. It will empower the central bank to supervise all credit card issuers and acquirers operating in the country. It also mandates credit card issuers to reveal the number of potential and current cardholders and list all fees charged for late payments. Violation of this regulation attracts a fine of US$1,060.2-4,240.9 (PHP50,000-200,000) or imprisonment of two-to-10 years, or both, as determined by the central bank's monetary board.

Due to growing credit card debt, the central government and Credit Card Association of the Philippines launched an Interbank Debt Relief Program in June 2016. The program was developed to help those in debt by offering affordable repayment plans, lower interest rates and reducing the equal monthly amortization, thereby preventing further deferral of payments. For individuals in deep debt, the repayment period can be extended by up to 10 years, with monthly interest rates at 1.5% or lower. In March 2016, six new credit bureaus were given permission to begin operating in 2017. Of the six, five are foreign companies-Compuscan (South Africa), Dun and Bradstreet (US), Crif (Italy), TransUnion (US) and Credit Bureau Singapore.



Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
ankur [@] kenresearch.com
+91-9015378249
www.kenresearch.com

1 DEFINITIONS AND METHODOLOGY

1.1 Definitions

1.2 Methodology

2 KEY FACTS AND HIGHLIGHTS

3 EXECUTIVE SUMMARY

4 PAYMENT INSTRUMENTS

4.1 Current Payment Environment

5 E-COMMERCE AND ALTERNATIVE PAYMENTS

5.1 E-Commerce Market Analysis

5.2 Alternative Payment Solutions

5.2.1 PayPal

5.2.2 GCash

5.2.3 Straight2Bank wallet

5.2.4 Dragonpay

5.2.5 Smart Money

5.2.6 Fortumo

5.2.7 PayMaya

6 REGULATIONS IN THE CARDS AND PAYMENTS INDUSTRY

6.1 Regulatory Framework

6.2 Anti-Money Laundering (AML)

6.3 Foreign Direct Investment (FDI) Regulations

7 ANALYSIS OF CARDS AND PAYMENTS INDUSTRY DRIVERS

8 PAYMENT CARDS

9 DEBIT CARDS

9.1 Debit Cards Market Analysis

9.2 Competition in Debit Cards Market

9.3 Debit Cards Comparison

10 PAY LATER CARDS

10.1 Pay Later Cards Market Analysis

10.2 Competition in Pay Later Cards Market

10.3 Pay Later Cards Comparison

11 PREPAID CARDS

12 APPENDIX

12.1 Tables

12.2 Contact Timetric

12.3 About Timetric

12.4 Timetric's Services

12.5 Disclaimer

Figure 1: Philippines-Payment Instrument Shares by Transaction Value (%), 2012 vs. 2016

Figure 2: Philippines-Payment Instrument Shares by Transaction Volume (%), 2012 vs. 2016

Figure 3: Philippines-E-Commerce Value, 2012-2021

Figure 4: Philippines-E-Commerce Payment Methods, 2016

Figure 5: Philippines-Population

Figure 6: Philippines-Economic Indicators

Figure 7: Philippines-ATMs and POS Terminals

Figure 8: Philippines-Household Consumption

Figure 9: Philippines-Growth in Payment Cards Transaction Values, 2012-2016

Figure 10: Philippines-Number of Cards in Circulation by Type, 2012-2016

Figure 11: Philippines-Debit Card Penetration, 2016

Figure 12: Philippines-Turnover Per Debit Card, 2016

Figure 13: Philippines-Debit Cards Scheme Share in Terms of Transaction Value, 2016

Figure 14: Philippines-Debit Cards Issuer Share in Terms of Transaction Value, 2016

Figure 15: Philippines-Pay Later Cards Penetration, 2016

Figure 16: Philippines-Turnover Per Pay Later Card, 2016

Figure 17: Philippines-Pay Later Cards Scheme Share in Terms of Transaction Value, 2016

Figure 18: Philippines-Pay Later Cards Issuer Share in Terms of Transaction Value, 2016

Figure 19: Philippines-Number of Prepaid Cards in Circulation, 2012-2021

Figure 20: Philippines-Prepaid Cards Transaction Value, 2012-2021

Table 1: Key Definitions

Table 2: Annual Average Exchange Rate

Table 3: Philippines-Key Facts, 2016

Table 4: Regional Benchmarking of the Philippines Payment Cards, 2016

Table 5: Philippines-Mode of Entry of Foreign Banks

Table 6: Philippines-Debit Cards Comparison and Key Features, 2016

Table 7: Philippines-Gold Credit Cards Comparison and Key Features, 2016

Table 8: Philippines-Premium Credit Cards Comparison and Key Features, 2016

Table 9: Philippines-Charge Cards Comparison and Key Features, 2016

Table 10: Philippines-Payment Instrument Transaction Values (PHP Billion), 2012-2016

Table 11: Philippines-Payment Instrument Transaction Values (US$ Billion), 2012-2016

Table 12: Philippines-Payment Instrument Transaction Volumes (Million), 2012-2016

Table 13: Philippines-Number of Payment Cards in Circulation by Type (Million), 2012-2021

Table 14: Philippines-Volume of Payment Card Transactions by Type (Million), 2012-2021

Table 15: Philippines-Value of Payment Card Transactions by Type (PHP Billion), 2012-2021

Table 16: Philippines-Value of Payment Card Transactions by Type (US$ Billion), 2012-2021

Table 17: Philippines-Number of Debit Cards in Circulation (Million), 2012-2021

Table 18: Philippines-Debit Card Transaction Volumes and Frequency by Channel, 2012-2021

Table 19: Philippines-Debit Card Total and Average Transaction Values by Channel, 2012-2021

Table 20: Philippines-Debit Card Total and Average Transaction Values by Channel, 2012-2021

Table 21: Philippines-Number of Debit Cards in Circulation by Scheme (Million), 2012-2016

Table 22: Philippines-Debit Card Transaction Values by Scheme (PHP Billion), 2012-2016

Table 23: Philippines-Debit Card Transaction Values by Scheme (US$ Billion), 2012-2016

Table 24: Philippines-Debit Card Transaction Values by Issuer (PHP Billion), 2012-2016

Table 25: Philippines-Debit Card Transaction Values by Issuer (US$ Billion), 2012-2016

Table 26: Philippines-Number of Pay Later Cards in Circulation (Million), 2012-2021

Table 27: Philippines-Pay Later Card Transaction Volumes and Frequency by Channel, 2012-2021

Table 28: Philippines-Pay Later Card Total and Average Transaction Values by Channel, 2012-2021

Table 29: Philippines-Pay Later Card Total and Average Transaction Values by Channel, 2012-2021

Table 30: Philippines-Number of Pay Later Cards in Circulation by Scheme (Million), 2012-2016

Table 31: Philippines-Pay Later Card Transaction Values by Scheme (PHP Billion), 2012-2016

Table 32: Philippines-Pay Later Card Transaction Values by Scheme (US$ Billion), 2012-2016

Table 33: Philippines-Pay Later Card Transaction Values by Issuer (PHP Billion), 2012-2016

Table 34: Philippines-Pay Later Card Transaction Values by Issuer (US$ Billion), 2012-2016

Table 35: Philippines-Number of Credit Cards in Circulation (Million), 2012-2021

Table 36: Philippines-Credit Card Transaction Volumes and Frequency by Channel, 2012-2021

Table 37: Philippines-Credit Card Total and Average Transaction Values by Channel, 2012-2021

Table 38: Philippines-Credit Card Total and Average Transaction Values by Channel, 2012-2021

Table 39: Philippines-Number of Credit Cards in Circulation by Scheme (Million), 2012-2016

Table 40: Philippines-Credit Card Transaction Values by Scheme (PHP Billion), 2012-2016

Table 41: Philippines-Credit Card Transaction Values by Scheme (US$ Billion), 2012-2016

Table 42: Philippines-Number of Charge Cards in Circulation (Thousand), 2012-2021

Table 43: Philippines-Charge Card Transaction Volumes and Frequency by Channel, 2012-2021

Table 44: Philippines-Charge Card Total and Average Transaction Values by Channel, 2012-2021

Table 45: Philippines-Charge Card Total and Average Transaction Values by Channel, 2012-2021

Table 46: Philippines-Number of Charge Cards in Circulation by Scheme (Thousand), 2012-2016

Table 47: Philippines-Charge Card Transaction Values by Scheme (PHP Billion), 2012-2016

Table 48: Philippines-Charge Card Transaction Values by Scheme (US$ Million), 2012-2016

Table 49: Philippines-Personal and Commercial Pay Later Card Transaction Volumes (Million), 2012-2021

Table 50: Philippines-Personal and Commercial Pay Later Card Transaction Values (PHP Billion), 2012-2021

Table 51: Philippines-Personal and Commercial Pay Later Card Transaction Values (US$ Billion), 2012-2021

Table 52: Philippines-Number of Commercial Pay Later Cards in Circulation (Thousand), 2012-2021

Table 53: Philippines-Commercial Pay Later Card Transaction Volumes (Million), 2012-2021

Table 54: Philippines-Commercial Pay Later Card Transaction Values (PHP Billion), 2012-2021

Table 55: Philippines-Commercial Pay Later Card Transaction Values (US$ Billion), 2012-2021

Table 56: Philippines-Number of Prepaid Cards in Circulation (Million), 2012-2021

Table 57: Philippines-Prepaid Card Transaction Values (PHP Billion), 2012-2021

Table 58: Philippines-Prepaid Card Transaction Values (US$ Billion), 2012-2021

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Land Bank of the Philippines, Banco de Oro, Bank of the Philippine Islands, Metrobank, Rizal Commercial Banking Corporation, Citibank, EastWest Bank, MegaLink, BancNet, American Express, Visa, MasterCard, JCB

The cards and payments industry in the Philippines, Financial cards, Debit cards, Credit cards, Charge cards, E-commerce, Alternative payments


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