The Cards and Payments Industry in Norway: Emerging Trends and Opportunities to 2019 - Ken Research

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

Timetric’s ‘The Cards and Payments Industry in Norway: Emerging Trends and Opportunities to 2019’ report provides detailed analysis of market trends in Norway’s cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including check payments, credit transfers, direct debits, payment cards and cash transactions 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, and 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, recent changes in regulatory structure and profiles of card issuers operating in the country.

Summary

Timetric’s ‘The Cards and Payments Industry in Norway: Emerging Trends and Opportunities to 2019’ report provides top-level market analysis, information and insights into Norway’s cards and payments industry, including:

Current and forecast values for each market in Norway’s cards and payments industry, including debit card, credit and charge cards. It also includes detailed analysis of the prepaid cards market.

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

E-commerce market analysis and online payment types.

Analysis of various market drivers and regulations governing Norway’s 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 of Norway’s cards and payments industry.

Scope

This report provides a comprehensive analysis of Norway’s cards and payments industry.

It provides current values for Norway’s cards and payments industry for 2014, and forecast figures to 2019.

It details the different demographic, economic, infrastructural and business drivers affecting Norway’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.

It profiles major banks in Norway’s cards and payments industry.

Reasons To Buy

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

Understand the key market trends and growth opportunities in Norway’s cards and payments industry.

Assess the competitive dynamics in Norway’s cards and payments industry.

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

Gain insights into key regulations governing Norway’s cards and payments industry.

Key Highlights

Contactless technology in Norway is very much in the developmental stages, with only DNB Bank, Danske Bank and Svenska Handelsbanken offering contactless cards. To increase their uptake, banks are trying to differentiate their product offerings by introducing new features. In May 2015, Danske Bank announced its plan to rollout its MasterCard-branded contactless cards featuring integrated fingerprint sensors for enhanced security. The project is still being piloted, and has been developed in partnership with the Norway-based fingerprint authentication technology provider: Zwipe.

The uptake of alternative payments among Norwegian consumers is slowly gaining traction due to the emergence of a number of payment options, including Seqr, MeaWallet and mCash. SEQR was launched in January 2013, and was followed by MeaWallet in October 2014. In October 2015, SpareBank 1 acquired mCash. At the time of acquisition, mCash had 100,000 users and 600 stores accepting the mCash service. To increase the uptake of its mobile payments, Danske Bank launched MobilePay in September 2015. The bank partnered with 100 retail outlets in Norway in October 2015. From 2016 onwards, users are able to use the m-payment service at all Rema 1000 supermarket stores.

To increase the uptake of mobile POS (mPOS) among small merchants, solution providers are offering terminals at lower costs. In 2015, iZettle introduced two solutions: Lite and Pro. While Lite is offered free of charge, the latter is available for US$118.9 (NOK749) excluding taxes. To compete with iZettle, Nets launched its mPOS terminal – Nets Miniterminal iCMP – which costs US$206.3 (NOK1,300). The availability of low-cost POS terminals is expected to help merchant adoption.

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