Media Releases

IMT, NOVO Branches, IREMIT Services Are Introduced To Cater the Lebanese Financial Needs: Ken Research

Posted on 23 August 2017 by KenResearch Banking Financial Services and Insurance ,

Banque du Liban,the central bank of Lebanon) has directing all the banks to issue prepaid cards only to accountholders to prevent money laundering and the misuse of prepaid cards. With the central banks approval, international issuers are allowed to issue prepaid cards. The Lebanon Cash Consortium (LCC) partnered with the World Food Program (WFP) and launched the OneCard electronic payment card which can be used for ATM cash withdrawals and in-store payments at partner retailers. Bank Audi is the Lebanon's largest bank that offers a Novo branch and interactive teller machines (ITMs) catering to consumers financial needs. ITM offers live video assistance to consumers, can be used by consumers to manage bank accounts, deposit and withdraw cash, deposit and cash checks, transfer money and pay bills. A Novo advisory room is provided to the consumers to open a bank account and instantly obtain debit cards. The Novo branch is open 365 days a year to provide a convenient and interactive banking experience to consumers.

According to the research report “The Cards and Payments Industry in Lebanon: Emerging Trends and Opportunities to 2020”, Lebanese payments cards include debit, credit and charge cards and the industry has registered a positive growth in the yesteryears. The payment industry includes check payments and payment cards along with the E-commerce market. The factors affecting the cards and payments industry in Lebanon are increase in consumers’ awareness about electronic payments, the introduction of improved cards and adoption of advanced technologies such as PayWave, PayPass, EVM Technology, and contactless cards. Lebanon ranks seventh among the Middle East and North Africa countries with the frequent use of the payment cards. A rapid growth was observed in the prepaid cards market and the number of cards in circulation in Lebanon is expected to exceed the debit, credit and charge cards. The younger population in Lebanon are targeted with new payment cards offered by Byblos Bank and Blom Bank. Majority of the younger generation in Lebanon make online purchases and are benefitted with the redemption of rewards points offered on the cards.

In Lebanon, the remittance facility utilizes the prepaid cards. A global remittance company named IRemit was introduced in the country and issues the I-remit Visa Prepaid Cards. These cards ensure faster and safer remittance facilities from Lebanon to Philippines. IRemit cards are provided with online payment facilities for utility bills and online shopping. The emerging trend in the payment cards is the introduction of smart cards with contactless technology features. In Lebanon, smart cards with contactless technology were introduced in association with Visa. PayWave and PayPass contactless payment technology cards were launched by Bank Audi and Visa in association with MasterCard. Bank Audi in Lebanon has launched the Tap2pay NFC Mobile Payment services making the consumers phone to be used as a credit card with the contactless technology. These services were launched in partnership with MasterCard and mobile operators Alfa and Touch.

Various strategies are adopted by the Lebanese banks and other institutions to market debit, credit and charge cards. These innovative and technological developments in Lebanon financial sector will witness a drastic growth in the cards and payments industry over the coming years.

To know more, click on the link below:

https://www.kenresearch.com/banking-financial-services-and-insurance/financial-services/cards-payments-industry-lebanon/55790-93.html

The Cards and Payments Industry in Taiwan-Emerging Trends and Opportunities to 2021

The Cards and Payments Industry in Israel-Emerging Trends and Opportunities to 2020

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Ken Research
Ankur Gupta, Head Marketing & Communications
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Smartphone Penetration is on rise in India Elevating M commerce Payments Sector: Ken Research

Posted on 23 January 2017 by KenResearch Banking Financial Services and Insurance ,

Ken Research declared the recent publication on “Consumer payments country snapshot: India 2016,” which offers insights on the consumer payments market in India, considering payment cards, online payments, P2P payments, and newer payment technologies such as mobile wallets and contactless. Further it includes the shrewd examination of the main regulatory players in the Indian market and analyzes the consumer attitudes to financial services by life stage and the major payment card types in terms of both card holding and usage. Moreover, publication identifies the major competitors in card issuing and how their positions in the market have evolved over the last five years. This publication helps in exploring the online payment market in India by merchant type and payment tool, as well as providing a five-year forecast for the development of the market.

India will remain the fastest growing G20 economy. Private consumption will be supported by the increase in public wages and pensions and by higher agricultural production, on the back of a return to regular rain fall. Private investment will revive gradually as excess capacity in some sector decreases, infrastructure projects mature, corporate deleverage, banks empty their loan portfolios, and also the Goods and Service Tax (GST) is implemented.

Despite commendable fiscal consolidation efforts at the central government level, the combined debt of states and central government remains more as compared with other emerging economies. Inflation expectations are adjusting down at a slow pace. Overall there is little space for accommodative policies, although some monetary impulse is still to come, as recent cuts in policy rates are yet to be reflected fully in lower lending rates. Reforming public banks’ balance sheets and improving their governance would support the comeback in investment. Creating more and better jobs will require policies to enhance the ease of doing business further, in specific faster and more predictable land acquisition, and upgrading social and physical infrastructure.

Despite the high public deficit compared with other emerging economies, there is space to make public finance more growth-friendly and inclusive. The ongoing landmark GST and subsidy reforms are promising. The government plan to cut the corporate income tax rate while broadening the base. More revenue could be raised from the personal income tax, and its redistributive impact developed, to finance higher spending on health, education, housing, transport and water infrastructure and make growth more inclusive.

Recent Trends

India is the second largest consumer market globally; India being a cash-driven economy. However, digital payments will see growth in the Indian market. The key opportunity is the digitization of payments only if they are as easy to access, convenient, and secure as cash then they will contribute to the growth of financial inclusion in the country. The driving factors in such process will be the expansion of Smartphone penetration, enhancing access to the internet, and the development of a digital payments infrastructure.

As the move to non-cash payments accelerates, cards will be used more frequently by Indian consumers. Providers should increasingly promote card adoption and use through merchant partnerships, reward programs, and benefits on day-to-day spending as well as educating consumers about the advantages of using payment cards over cash.

To know more on the coverage, tap on the link underneath:

https://www.kenresearch.com/banking-financial-services-and-insurance/financial-services/consumer-payments-country-snapshot-india/78822-93.html

https://www.kenresearch.com/banking-financial-services-and-insurance/financial-services/consumer-payments-country-snapshot-china/78821-93.html

Contact:

Ken Research
Ankur Gupta, Head Marketing & Communications
query@kenresearch.com
+91-124-4230204

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Mobile Payments Preferred Source of Consumer Payments Sector in China: Ken Research

Posted on 22 January 2017 by KenResearch Banking Financial Services and Insurance ,

Ken Research declared the recent publication on “Consumer payments country snapshot: China 2016,” which offers insights on the consumer payments market in China, considering payment cards, online payments, P2P payments, and newer payment technologies such as mobile wallets and contactless. Further it includes the shrewd examination of the main regulatory players in the Chinese market and analyzes the consumer attitudes to financial services by life stage and the major payment card types in terms of both card holding and usage. Moreover, publication identifies the major competitors in card issuing and how their positions in the market have evolved over the last five years. This publication helps in exploring the online payment market in China by merchant type and payment tool, as well as providing a five-year forecast for the development of the market.

Trends in China’s Macro economy

China’s has developed over the 2000s which slowed down post 2013. The driving force behind the development was investment, so understanding the slowdown simply relies on understanding what sustained investment post 2013. The credit policy promoting heavy industrialisation which also had negatives consequences with positives. Going forward, China needs to focus on creating the right incentives for banks to make loans to small businesses.

Financial reforms in China must focus on green banking. Only when such practice of green banking is properly reformed will commercial banks have incentives to make loans to small and productive businesses. In addition, a rapid ramping-up of China’s corporate debts and local government debts as a result of the preferential credit policy toward heavy industries has now reached a level that deems unsustainable. Therefore, China’s macro economy faces twin problems:

· low consumption and income growth

· Overcapacity of heavy industries with rising debt risks.

How these problems are resolved might have profound policy implications. Because both problems arose from a preferential credit policy for promoting heavy industrialisation since the late 1990s, an effective policy would aim at reducing the preferential credit access given to large firms and especially those in heavy industries. In brief, financial reforms geared towards abolishing such a distortion would go a long way toward making both short-term and long-term loans function efficiently and put the economy on a more balanced path.

China Economic Outlook

Retail sales, industrial production and investment had gone down in 2015 from the year 2014. Unemployment and inflation rate is stagnant in the same period. While growth momentum in 2016 remained strong in Quarter4, as suggested by themanufacturing PMI for November, all eyes are on the Central Economic Work Conference (CEWC), expected to be held in mid-December. The CEWC will set the tone of the economy and policy for next year. The CEWC will also establish the economic targets for 2017, though they will not be disclosed until the National People’s Congress in March. The growth target is expected to be maintained at the current range of between 6.5% and 7.0%, while monetary and fiscal policies will likely remain accommodative. In the political arena, China’s authorities stated that they are intensely concerned after President-elect Donald Trump questioned the One-China policy, which has been the cornerstone of China-U.S. relations since the 70s. This incident has added fuel to an already complicated political relationship between China and Trump.

Recent Trends

China represents a develop payment card market in Asia, with more than 5 billion payment cards in issue. Notwithstanding a high card-per-client proportion China is anticipated to see mellow development in both card numbers and the estimation of transactions, as mobile has turned into the payment mechanism of decision in the country. China UnionPay is the quickest-growing card scheme in China, claiming a more than 90% market share in 2015.

To know more on the coverage, tap on the link underneath:

https://www.kenresearch.com/banking-financial-services-and-insurance/financial-services/consumer-payments-country-snapshot-china/78821-93.html

https://www.kenresearch.com/banking-financial-services-and-insurance/financial-services/consumer-payments-country-snapshot-sweden/80163-93.html

Contact:

Ken Research
Ankur Gupta, Head Marketing & Communications
query@kenresearch.com
+91-124-4230204

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Sustained High GDP Driving Japanese Cards and Payments Industry: Ken Research

Posted on 14 October 2016 by KenResearch Banking Financial Services and Insurance ,

Ken Research published a report on ‘The Cards and Payments Industry in Japan: Emerging Trends and Opportunities to 2020’ which discusses data on Japanese cards and payments industry using empirical analysis on major product type like debit cards and credit cards, by, market proportion of main companies, online commerce trends as the report puts forward how the new and existing players can use this information on dynamics of the financial sector in Japan to gain an edge in the market. Additionally, growth strategies have also been covered, keeping in mind all the steps that the Japanese government and the central bank have taken to ensure healthy survival of cards and payments industry.

The Japanese economy has sustained exceptionally high GDP growth and decline rates in the past and retains its position in the list of top notch countries having per capita income. Economic expansion and monetary expansion often go hand in hand and henceforth, the increase in methods of making payments. As a consequence of reduced amount of money balances held by the public in the country, the income velocity of money overshoots the equilibrium. Inevitable shocks cause to the money supply follow, leading to the economy bouncing between crests and troughs. This leaves the central banks and the governments in a tough situation to curb these shocks to anchor the fluctuations in the economy.

As Japan’s economy and Cards and Payments industry continues to strive to grow, the issuers can analyze the environment in the industry to make the most of the incentives provided by the regulatory organizations. These players should target to make their organization well adaptable to the recent policy changes in the economy’s competitive landscape. These firms can aim those consumers who prefer to keep up with the joneses to keep themselves profitable. It can provide lengthened strategy suggestions that will respond well to this continuously changing arena of the payments industry. The ‘ought to be targeted’ customer base would be the one that risk loving or risk neutral in order to make sure that this target is permanent. The issuer can therefore cater to the needs, attitudes and preferences of this segment towards debit and credit cards.

The report delivers all-inclusive analysis of the segment tendencies in Japan. It gives value and quantity numbers of diverse performance parameters in the market, including payment cards, check payments etc for the period 2011-2015. It has the data on the number of cards rotating in the economy, and the volume of transactions over the expected period from 2016-2020, the dynamics of competition including the market share of issuers and schemes made available and policy and regulatory regimes put in place.

Key Topics Covered in the Report:

· Value and Volume analysis of the Japanese Cards and Payments market

· Detailed Issue Scenario and the Regulatory Framework

· Consumer Trend Framework

· Segment definitions and analysis

· Details of strategies used by leading issuers in Japan

· Analysis of e-commerce in Japan

· Key drivers to influence Payments industry

· Cards and Payment industry in Japan

· Mobile payment market Japan

· Japan bill Payment Market Research

· Japan Money Remittance Industry

· Alternative payment methods in Japan

· Debit Card industry in Japan

· Japan Cards and payments industry trends

· Plastic money market Japan

· Global Payment Industry Research Report

To know more, click the link below:

https://www.kenresearch.com/banking-financial-services-and-insurance/banking/cards-payments-industry-japan-emerging/25251-93.html

...

Optimism and Opportunities Surrounding the Vietnam Card and Payment Industry

Posted on 22 September 2016 by KenResearch Banking Financial Services and Insurance ,

Ken Research announced its latest publication on “The Cards and Payments Industry in Vietnam: Emerging Trends and Opportunities to 2020” offer insights on the changing trends and key issues within the Vietnam Cards and Payment Industry. The publication includes an insightful analysis ofmarket trends in Vietnam's cards and payments industry, values and volumes for a number of key performance indicators in the industry, including credit transfers, direct debits, payment cards and check payments during the review period (2011-2015), Current and forecast values for each market in Vietnam's cards and payments industry, overview of the country's key alternative payment instruments, Analysis of various market drivers and regulations governing Vietnam's cards and payments industry, analysis of consumer attitudes and buying preferences and competitive landscape . The analysis of the aforementioned trends has been done on the basis of product categories within the market such as Financial, Debit, Credit, EMV, Prepaid cards.

In Vietnam, with more than 90% of payments being made through cash, the cash payment dominates the payment industry. But, with changing consumer preferences and introduction card payment encouraging policies by government and banks, the scenario has changed with the share of cash transactions (in terms of overall card payments channel) decreased from 3.4% in 2009 to 2.7% in 2013, while the share of card transactions doubled to increase from 1.5% in 2009 to 3.1% in 2013. Various macroeconomic, demographic, economic, infrastructural and business have played a role in it. Govt. conducting schemes like Online Black Friday and lifting the cap on foreign investment is expected to make the market more efficient and grow in both volume and value terms.

Also, with the increase in number of domestic as well as foreign players in the market, technology has become a tool to the hands of market players to survive in this competition and grow.Banks are launching mobile based financial services app and also up taking point of sale (POS) solutions among small and medium-sized enterprises (SMEs). Also, the introduction of mobile POS solutions is anticipated to encourage SMEs to accept card-based payments, further driving payment card transaction volumes and values.The banks also focus on the security and utility of card by using EMV chip and integrating multi-utility into a card like NFC technology or QR code-based payment services. Card issuers have been concentrating on attaining customer loyalty. Many are collaborating with various merchants across various sectors to provide their clients with loyalty or co-branded cards.

Global Card & Payment Industry

Over the years, the Cards and Payments Industry has evolved and has shown significant and steady growth both in terms of volume and value of transactions, mostly because of the strong growth in developing economies such as Latin America and Asia. In emerging markets, due to the growth of the middle class and expanded consumer purchasesprovides for vast untapped pools for payments companies, particularly involving mobile money applications, because cellular penetration in these regions tends to be high. In more established economic zones, however, like North America, the landscape is more challenging than in the developing world due to new capitalization restrictions and increased regulation.

Some of the prominent trends in the global Cards & Payments Industry include:

Emerging economies having higher growth rates than the mature economies.
Rising competition in the market affecting profit margin of the players.
Emergence of mobile wallets which has converted consumers’ phone into a smart card.
Challenges in the form of-
Increasing amount of both online and offline fraud, including the creation of fake websites as well as,
Increased competition leading to decline in profit margins need to be tackled.

Key Topics Covered in the Report:

Detailed analysis of Vietnam Cards & Payments Industry
Current and forecast values for each market in Vietnam's cards and payments industry
E-commerce market analysis
Analysis of various market drivers and regulations governing Vietnam's cards and payments industry
Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards
Comprehensive analysis of consumer attitudes and buying preferences for cards
The competitive landscape in Vietnam's cards and payments industry

To know more on coverage, click on the link below:

https://www.kenresearch.com/banking-financial-services-and-insurance/banking/cards-payments-industry-vietnam-emerging/25250-93.html

Vietnams Retail Banking-Competitive Dynamics

Contact:
Ken Research
Ankur Gupta, Head Marketing & Communications
query@kenresearch.com
www.kenresearch.com

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Plastic Money Market in Infancy Stage in Vietnam

Posted on 21 September 2016 by KenResearch Banking Financial Services and Insurance ,

Over the years, the Cards and Payments Industry has evolved and has shown significant and steady growth both in terms of volume and value of transactions, mostly because of the strong growth in developing economies such as Latin America and Asia. However, in Vietnam, with more than 90% of payments being made through cash, the cash payment dominates the payment industry. But, with changing consumer preferences and introduction card payment encouraging policies by government and banks, the scenario has changed with the share of cash transactions (in terms of overall card payments channel) decreased from 3.4% in 2009 to 2.7% in 2013, while the share of card transactions doubled to increase from 1.5% in 2009 to 3.1% in 2013.

Mapping the Drivers of Vietnam Cards & Payments Industry

Mobile payment market Vietnam

From the above figure, we can appreciate the role of different drivers in boosting the growth of Cards and Payments industry of Vietnam. The result can be seen, as in 2005, only 234,000 cards were issued by 20 banks, while in 2015, thehave been a rampant increase in numbers with over 86 million cards been issued by around 40 banks. Govt., among other policies, by lifting the cap on foreign investment and allowing foreign investors to own majority shares in domestic banks; and banks by issuing co-branded credit cards, investing in new generation ATMs, focussing on mobile based financial services & POS solutions etc. has played a major role. As a result, in terms of the number of cards in circulation, the channel grew from 21.7 million in 2009 to 67.8 million in 2013, at a compound annual growth rate (CAGR) of 32.95%. In terms of transaction value, the card payments channel grew from VND364.8 trillion (US$21.4 billion) in 2009 to VND1.32 quadrillion (US$62.8 billion) in 2013, CAGR of 37.91%.

For the next five years, a very promising picture of Vietnam Card & Payment industry is expected. The reason behind this is Vietnam’s young demography, lower penetration level, supportive govt. and bank policies and strong economic performance. With the success of Online Black Friday and govt.’s decision of organising it every year, a significant growth in the transaction value of the credit, debit and pre-paid cards is expected. Also, the govt. lifted the cap on foreign investment that led to inflows of foreign direct investment (FDI), which in 2013 reached US$21.6 billion, an increase of 54.5% year-on-year. Banks are also support govt. financial inclusion plan by launching mobile-based financial services and POS solutions. Although, Vietnam still has cash payment dominated payment industry; with the inclusion of more people and businesses in the financial mainstream, the card and payment industry is expected to boom in future years.

Key Macroeconomic Trends Driving Growth in Vietnam Cards & Payments Industry

Debit Card industry in Vietnam The Vietnam society has always preferred cash payment method whether the purchase has been done offline or online. However, the strong economic growth of Vietnam along with the supporting govt. and bank policies, have changed the scenario and there is growth in the non-cash payment industry of Vietnam. With more and more people coming under the realm of financial services and greater awareness about the ease and security of card payments, the share of card and payment industry has increased in the Vietnam’s payment industry.

Some macroeconomic factors driving growth in Vietnam’s Cards & Payments industry include:

With increase in population, specially the middle-class population, there is a greater need for access to credit.
Increasing economic growth has led to increasing household income and brought a greater number of previously unbanked people into the realm of financial services.
Decreasing unemployment or increasing number of jobs in the economy has increased the disposable income of consumers.
Increasing FDI because of government policies has also led to expectation of positive growth opportunities in the cards and payments industry.

To know more on coverage, click on the link below:

https://www.kenresearch.com/banking-financial-services-and-insurance/banking/cards-payments-industry-vietnam-emerging/25250-93.html

https://www.kenresearch.com/banking-financial-services-and-insurance/banking/denmark-cards-payments-key-trends/23612-93.html

Contact:
Ken Research
Ankur Gupta, Head Marketing & Communications
query@kenresearch.com
www.kenresearch.com

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