Hungary’s Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape
Published: Apr 2014 Single User PDF: US$ 3995 Corporate User PDF: US$ 7990
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Hungary’s Cards and Payments Industry Synopsis The report provides top-level market analysis, information and insights into Hungary’s cards and payments industry, including: Current and forecast values for each category of Hungary’s cards and payments industry, including debit cards, credit cards and prepaid cards Comprehensive analysis of the industry’s market attractiveness and future growth areas Analysis of various market drivers and regulations governing Hungary’s cards and payments industry Detailed analysis of the marketing strategies adopted for selling debit, credit and prepaid cards used by banks and other institutions in the market Comprehensive analysis of consumer attitudes and buying preferences for cards The competitive landscape of Hungary’s cards and payments industry
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Hungary’s Cards and Payments Industry Summary Hungarian GDP contracted by -6.8% in 2009, impacting the overall banking and financial services industry. The economy recovered in 2010 and 2011, but contracted again in 2012. However, it is expected to record robust growth over the forecast period, with real GDP growth rising from 1.26% in 2014 to 1.61% in 2018. Improved GDP growth, rising per capita income and low inflation are expected to raise consumer confidence and increase spending, resulting in an increased scope for card-based transactions. This will be further supported by rising online and mobile penetration, and the emergence of Europay, MasterCard and Visa (EMV) cards, near-field communication (NFC) technology, and mobile wallets. The Hungarian card payments channel registered positive growth during the review period (2009– 2013), recording a compound annual growth rate (CAGR) of 1.49% to reach 9.0 million cards in circulation by the end of 2013. In value terms, the card payments channel valued HUF8.1 trillion (US$36.2 billion) in 2013. The debit cards category held the highest share with 85.7% of the cards in circulation in 2013. It is expected maintain the highest share of the overall payments channel and record a forecast-period (2014–2018) CAGR of 1.57%, rising from 7.8 million cards in 2014 to 8.3 million in 2018. The credit cards category had the second-largest share with 13.5% in 2013, followed by prepaid cards with 0.6%. Over the forecast period, the number of prepaid cards is expected to increase from 72,964 in 2014 to 216,724 in 2018, at a CAGR of 31.28%. The charge card category held the smallest industry share of 0.2% in 2013. Order this report by calling +1 888 391 5441 or Send an email to 3 sales@marketreportsstore.com with your contact details and questions if any.
Hungary’s Cards and Payments Industry Scope This report provides a comprehensive analysis of Hungary’s cards and payments industry. It provides current values for Hungary’s cards and payments industry for 2012, and forecast figures for 2017. It details the different economic, infrastructural and business drivers affecting Hungary’s cards and payments industry. It outlines the current regulatory framework in the industry. It details the marketing strategies used by various banks and other institutions. It profiles the major banks in Hungary’s cards and payments industry.
Reasons To Buy Make strategic business decisions using top-level historic and forecast market data related to Hungary’s cards and payments industry and each market within it. Understand the key market trends and growth opportunities within Hungary’s cards and payments industry. Assess the competitive dynamics in Hungary’s cards and payments industry. Gain insights in to the marketing strategies used for selling various card types in Hungary. Order this report by calling +1 888 391 5441 or Send an email to sales@marketreportsstore.com with your contact details and questions if any.
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Hungary’s Cards and Payments Industry Key Highlights The Hungarian card payments channel registered positive growth during the review period (2009– 2013), recording a compound annual growth rate (CAGR) of 1.49% to reach 9.0 million cards in circulation by the end of 2013. In value terms, the card payments channel valued HUF8.1 trillion (US$36.2 billion) in 2013. The debit cards category held the highest share with 85.7% of the cards in circulation in 2013. It is expected maintain the highest share of the overall payments channel and record a forecast-period (2014–2018) CAGR of 1.57%, rising from 7.8 million cards in 2014 to 8.3 million in 2018. The emergence of NFC has encouraged card use in Hungary. Since 2011, the Cetelem Bank in Hungary has offered the contactless MasterCard PayPass facility for small purchases of up to HUF5,000 (US$25). This enables card payments without entering or passing a card through a POS terminal, entering a PIN, or signing a merchant receipt. NFC technology can be incorporated in mobile devices with have an NFC interface, enabling them to function as contactless payment solutions. Magyar Telekom, Telenor and Vodafone in Hungary with OTP Bank, Master Card and loyalty systems provider SuperShop have tested platforms to facilitate contactless mobile payments, and the range of services offered is widening to include live event tickets and access to sports facilities. Order this report by calling +1 888 391 5441 or Send an email to sales@marketreportsstore.com with your contact details and questions if any.
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Hungary’s Cards and Payments Industry
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