2013-09-16 10:46:57 - Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape
Steady growth was recorded in the Filipino card payments channel during the review period (2008-2012), as the number of cards in circulation increased at a CAGR of 7.65%, rising from 40.8 million in 2008 to 54.8 million in 2012. This growth was primarily driven by the prepaid cards category which registered the highest growth rate at a CAGR of 17.26%. Over the forecast period (2013-2017), the number of cards in circulation is expected to increase from 58.1 million in 2013 to 72.9 million in 2017, after registering a CAGR of 5.84%. The card payments channel is dominated by four large domestic banking groups - Metrobank, Banco de Oro, Bank of the Philippine Islands (BPI), and Land Bank of the Philippines.
In the debit card category, domestic banks held a collective market share of 57% in 2011. Foreign banks such as Citibank and HSBC dominate the credit card business. In terms of number of credit cards in circulation in 2011, Citibank held the highest share of 20.6% with 1.4 million cards, followed by HSBC with 10.8% and 747,676 cards.
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* Over the forecast period, the prepaid cards category is expected to record the highest growth at a CAGR of 15.77% due to increased adoption by the government and corporate companies. The card volume will increase from 11.2 million cards in 2013 to 20.0 million in 2017.
* The cards and payments industry benefits from international remittances due to the large number of Filipinos migrating to other countries. Remittance money rose by 5.7% to US$6.9 billion in the first quarter of 2013 and it is expected to grow further as more Filipinos seek employment abroad.
* As competition intensifies, banks are implementing innovative strategies to attract new customers and retain existing ones. Shopping rebates, raffles, installment programs, discounts and freebies at partner retail merchants on credit card purchases are common tactical promotions.
* The number of card transactions was positively impacted by the interconnectivity of domestic ATM and POS terminal network operators such as MagaLink, BancNet and Expressnet. In 2010, these three domestic operators connected their POS terminals across the country.
* This report provides a comprehensive analysis of the Philippines' cards and payments industry.
* It provides current values for the Philippines' cards and payments industry for 2012 and forecast figures for 2017.
* It details the different macroeconomic, infrastructural, consumer and business drivers affecting the Philippines' cards and payments industry.
* It outlines the current regulatory framework in the industry.
* It details the marketing strategies used by various bankers and other institutions.
* It profiles the major banks in the Philippines' cards and payments industry.
Reasons to Get this Report
* Make strategic business decisions using historic and forecast market data related to the Philippines' cards and payments industry and each market within it.
* Understand the key market trends and growth opportunities within the Philippines' cards and payments industry.
* Assess the competitive dynamics in the Philippines' cards and payments industry.
* Gain insights into the marketing strategies used for selling various types of cards in the Philippines.
* Gain insights into key regulations governing the Philippines' cards and payments industry.
Companies Mentioned in this Report: BDO Unibank, Inc., The Bank of the Philippine Islands, Metrobank, The Land Bank of the Philippines, Visa, MasterCard, American Express, Citibank Philippines
Partial Table of Contents:
1 Executive Summary
2 Market Attractiveness and Future Prospects of Cards and Payments Industry
2.1 Analysis of Cards and Payments Industry Drivers
2.2 Macroeconomic and Consumer Drivers
2.2.1 Strong GDP growth
2.2.2 Growing urbanization
2.2.3 Government agencies adopting e-payments
2.2.4 Rising consumer confidence
2.3 Infrastructure Drivers
2.3.1 Increasing number of internet users
2.3.2 Emergence of contactless payments
2.3.3 Migration to EMV technology for secure transactions
2.3.4 Growing number of POS terminals
2.3.5 Increasing number of ATMs
2.4 Business Drivers
2.4.1 Growing retail sector
2.4.2 Growing remittance business
2.4.3 Rising e-commerce
2.4.4 Increasing outbound tourism spending
2.5 Card Fraud Statistics
2.6 Regulatory Framework
3 Emerging Consumer Attitudes and Trends
3.1 Market Segmentation and Targeting
3.1.1 Retail customers
3.1.2 Corporate customers
3.2 Consumer Preference
3.3 Online Buying Behavior
4 Competitive Landscape and Industry Dynamics
4.1 Overview of the Payment Channels
4.2 Debit Card Category Share
4.2.1 By bank
4.2.2 By scheme
4.3 Credit Card Category Share
4.3.1 By bank
4.3.2 By scheme
4.4 Charge Card Category Share
5 Strategies Adopted by Key Operators
5.1 Market Entry Strategies
5.2 Marketing and Product Strategies
5.2.1 Debit cards
5.2.2 Credit cards
5.2.3 Prepaid cards
5.3 Pricing Strategies
6 Size and Growth Potential of Card Payments Channel
6.1 Industry Share Analysis by Type of Card
6.2 Total Channel Size and Forecast of Payment Cards
6.2.1 Analysis by number of cards
6.2.2 Analysis by transaction value
6.2.3 Analysis by transaction volume
6.3 Debit Card Category Size and Forecast
6.3.1 Analysis by number of cards
6.3.2 Analysis by transaction value
6.3.3 Analysis by transaction volume
6.3.4 Other key performance indicators
6.4 Prepaid Card Category Size and Forecast
6.4.1 Analysis by number of cards
6.4.2 Analysis by segment - open and closed-loop prepaid cards
6.4.3 Analysis by transaction value
6.5 Charge Card Category Size and Forecast
6.5.1 Analysis by number of cards
6.5.2 Analysis by transaction value
6.5.3 Analysis by number of transactions
Full Table of Contents is available at:
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