Co-Branded Cards to Hold Firm the Credit Cards Market in Thailand REQUEST FOR SAMPLE REPORT Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit The Asia Pacific Credit Cards Market Research is expected to grow at a compound annual growth rate of 14.87% between the years 2016 to 2020. This growth is primarily driven by a large-scale boom in the global e-commerce sector and rises of mobile payments for transactions and paves the way for many opportunities in the sector. A majority of the global credit card market is captured by North America, Europe and APAC (Asia Pacific) region which comprises of south-east Asia, Australia and New Zealand, in terms of transaction value (in USD). Geographically, the APAC region has displayed a greater growth percentage than other regions due to unprecedented growth in the emerging economies. In terms of market share, Visa Inc. displays a domination both in valuation terms and number of cards held. A majority of commercial credit cards in Thailand are fleet cards that are used to buy fuel, which means that the cost of gas or fuelis an important factor that drives the growth of commercial credit cards in Thailand. In 2015, the global fuel pricesdropped significantly, reducing commercial card spending. However, commercial credit card spending picked up again (despite the global oil prices remaining low), due to low fuel prices allowing commercial credit card holders to spend more on transportation and logistics. Moreover, an increase in per capita income, the presence of a modern payment infrastructure and an inflow of foreign banks has resulted in an impressive growth in the cards payments channel in Thailand, (both in terms in value and volume). A growing middle class and young population are creating a higher demand for credit due to their changing spending habits. This is coupled with the increase in outbound tourist spending which is expected to ascend in the coming years, to drive the growth of the credit card market in Thailand. Physical cards, however, are being challenged by digital payments in Thailand. Launching of a national e-payment projectwhich aims to propel Thailand towards a cashless economy in 2016 is all set to challenge payments through physical cards. This, along with the launching of PromptPay in the second half of 2016, has resulted in easier money transfer using only the user’s national ID or mobile phone number and will severely challenge the growth of credit cards market of Thailand. Differentiation in their product offerings (to suit the customers who are becoming more financially sophisticated) in the form of card customization for specific customer groups is a way for banks to gain ground. Also, they are trying to engage with their customers more and more through mobile and online platforms to increase their customer base and result in customer satisfaction. Increasing customer loyalty by way of co-branded cards associated with automobile manufacturers, oil companies, retailers etc. and encouraging customers to use payment cards by giving out cashback offers, purchase insurance, discounts and reward points seems to be the way forward. The report titled “Credit cards in Thailand”, offers a detailed analysis of the commercial and personal credit cards in Thailand. According to recent trends, credit cards have recorded a strong increase in sales value, which can be attributed to a return to growth for commercial credit cards which had earlier seen a drop in sales value because of a decline inexpenditure on fuel (as global oil prices dropped and fleet cards which are used to pay for fuel form a majority of commercial credit cards). Thus, the analysis represented through this report serves as beacon to peep into the Credit Cards market of Thailand as it is in terms of size and structure of market for various cards, key players and various forecasts and trends that can emerge in near future. For further reading click on the link below: https://www.kenresearch.com/banking-financial-services-and-insurance/banking/credit-cards-thailand/112206-93.html Related reports: Financial Cards and Payments in Eastern Europe The Cards and Payments Industry in Indonesia: Emerging trends and opportunities to 2021 Contact: Ken Research Ankur Gupta, Head Marketing & Communications query@kenresearch.com +91-124-4230204 Tags: Asia Pacific Credit Cards Market Research
