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Emerging Opportunities in Finland’s Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape

Finland payment cards market: Growth to 17 million cards by 2017

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2014-02-24 20:55:04 - Emerging Opportunities in Finland’s Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape - a new market research report on

Despite having one of the smallest populations in the Eurozone, Finland is ahead of the rest of Europe in terms of card awareness and usage levels. It has the highest usage of card payments in terms of transactions per inhabitant, with the average usage per capita exceeding that of the UK and the Netherlands. Younger consumers are more comfortable with various types of electronic payment methods, and typically use more than one payment method when paying at the point of sale (POS), although debit cards are the predominant method.

The overall card industry exhibited nominal growth during the review period (2008–2012) at a CAGR of 3.86%, rising from 13.7 million cards in 2008 to 15.6 million in 2012. The industry is



expected to register slight growth over the forecast period with a CAGR of 1.64%, rising from 15.9 million cards in 2013 to 17.1 million in 2017. Growth in the Finnish cards and payments industry is expected to be driven by growth in the retail industry, increasing demand for prepaid cards, a better regulatory framework, an increasing market for online and mobile commerce, and a positive economic outlook

Key Highlights

• The increasing capabilities of smartphone devices, an exponential rise in mobile device applications and falling prices have been instrumental in driving mobile commerce. According to a survey conducted by AddValue on behalf of operator DNA in 2013, 60% of Finns own a smartphone, 76% own a laptop and 18% own a tablet. Factors driving growth in m-commerce are lower prices, improved search engines, price comparison sites and the rising penetration of smartphones, leading to the growth of the cards and payments industry in Finland.

• Contactless and NFC payments are also being introduced in Finland. K-Plussa, the largest and most-diverse loyalty program to provide benefits to customers, launched a contactless card in February 2012. The card has, thus far, been used by more than 300,000 K-Plussa customers.

• Elisa, one of the largest mobile networks in Finland, in association with MasterCard and the student-owned benefit and discount card Lyyra, issued prepaid NFC stickers to students in the third quarter of 2012. These stickers were issued to more than 100,000 students and can be used in college canteens and at other stores where contactless terminals are installed.

• The growing market for online trade in Finland is one of the primary factors responsible for the expansion of the countrys cards and payments industry. E-commerce sales increased from EUR8.85 billion in 2009 to EUR10.4 billion in 2011. This growth can be attributed to benefits offered by online retail such as low cost and convenience, and promotional offers and discounts, and is expected to further increase debit and credit card ownership.

Report Scope

• This report provides a comprehensive analysis of Finlands cards and payments industry
• It provides current values for Finlands cards and payments industry for 2012 and forecast figures for 2017
• It details the different macroeconomic, infrastructural, consumer and business drivers affecting Finlands 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 Finlands cards and payments industry

Reasons to Buy

• Make strategic business decisions using historic and forecast market data related to Finlands cards and payments industry and each market within it
• Understand the key market trends and growth opportunities within Finlands cards and payments industry
• Assess the competitive dynamics in Finlands cards and payments industry
• Gain insights into the marketing strategies used for selling various types of cards in Finland
• Gain insights into key regulations governing Finlands cards and payments industry

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