The Cards and Payments Industry in Slovakia: Emerging Trends and Opportunities to 2021
GlobalData’s "The Cards and Payments Industry in Slovakia: Emerging Trends and Opportunities to 2021" report provides top-level market analysis, information and insights into the Slovak cards and payments industry, including -
- Current and forecast values for each market in the Slovak cards and payments industry, including debit, credit and charge cards.
- Detailed insights into payment instruments including credit transfers, direct debits, cash transactions and payment cards. It also, includes an overview of the country's key alternative payment instruments.
- E-commerce market analysis.
- Analysis of various market drivers and regulations governing the Slovak cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit, credit and charge cards.
- Comprehensive analysis of consumer attitudes and buying preferences for cards.
- The competitive landscape in the Slovak cards and payments industry.
The report provides detailed analysis of market trends in the Slovak cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including credit transfers, direct debits, payment cards and cash transactions during the review period (2012–2016).
The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, transaction values and volumes during the review period and over the forecast period (2017–2021). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.
The report brings together GlobalData’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in the regulatory structure.
To benefit from the growing adoption of contactless technology, banks in Slovakia are launching contactless mobile payment services. The latest of these is the expansion of Tatra Bank’s MobilePay app functionality in November 2016. The upgraded version includes Visa-certified Host Card Emulation (HCE) technology. Users can add their Visa card details to make contactless mobile payments. In 2014, VUB Bank introduced its Wave2Pay app, enabling cardholders to make contactless mobile payments.
To benefit from e-commerce growth, scheme providers are launching alternative payment solutions. In collaboration with CSOB, Mastercard launched its MasterPass digital wallet in Slovakia in December 2015. For online payments, MasterPass allows users to pay from a list of pre-stored cards and shipping information stored in the digital wallet. Similarly, in 2015, Visa launched its V.me digital wallet which allows consumers to pay for products online without divulging their payment card details.
While banks in Slovakia still focus on traditional bricks-and-mortar branches to deliver their services, German-based bank Number26 launched a mobile-only bank in December 2015, allowing consumers to conduct banking transactions via their mobile phones. The advent of mobile-only banks is likely to accelerate a shift towards electronic payments.
- This report provides a comprehensive analysis of the Slovak cards and payments industry.
- It provides current values for the Slovak cards and payments industry for 2016, and forecast figures to 2021.
- It details the different demographic, economic, infrastructural and business drivers affecting the Slovak cards and payments industry.
- It outlines the current regulatory framework in the industry.
- It details marketing strategies used by various banks and other institutions.
Reasons to buy
- Make strategic business decisions, using top-level historic and forecast market data, related to the Slovak cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in the Slovak cards and payments industry.
- Assess the competitive dynamics in the Slovak cards and payments industry.
- Gain insights into marketing strategies used for various card types in Slovakia.
- Gain insights into key regulations governing the Slovak cards and payments industry.
Table of Contents
EXECUTIVE SUMMARY 2
1.1. Market overview 2
1.2. Key facts 3
1.3. Top five industry events 4
2. PAYMENT INSTRUMENTS 10
2.1. Current payment environment 10
3. E-COMMERCE AND ALTERNATIVE PAYMENTS 12
3.1. E-Commerce market analysis 12
3.2. Alternative payment solutions 13
3.2.1. PayPal 13
3.2.2. MasterPass 13
3.2.3. Visa V.me 13
3.2.4. Tatra Bank MobilePay app 13
3.2.5. VUB Bank Wave2Pay app 14
3.2.6. TrustPay 14
4. REGULATIONS IN THE CARDS AND PAYMENTS INDUSTRY 15
4.1. Regulatory framework 15
4.1.1. SEPA implementation in Slovakia 15
4.1.2. Interchange fee regulation 17
4.2. Anti-money laundering and counter terrorism financing (AML/CTF) 17
4.3. Foreign direct investment (FDI) regulations 18
5. ANALYSIS OF CARDS AND PAYMENTS INDUSTRY DRIVERS 19
6. PAYMENT CARDS 22
7. DEBIT CARDS 24
7.1. Debit cards market analysis 24
7.2. Competition in the debit cards market 26
7.3. Debit cards comparison 28
8. PAY LATER CARDS 29
8.1. Pay later cards market analysis 29
8.2. Competition in the pay later cards market 31
8.3. Pay later cards comparison 33
9. PREPAID CARDS 34
10. APPENDIX 36
10.1. Abbreviations and acronyms 36
10.2. Supplementary data 37
10.3. Definitions 49
10.4. Common payment card features 50
10.5. Methodology 51
10.6. Bibliography 53
10.7. Further reading 53
List of Figures
Figure 1: Slovakia, Payment Instrument Shares by Transaction Value (%), 2012 vs 2016 10
Figure 2: Slovakia, Payment Instrument Shares by Transaction Volume (%), 2012 vs 2016 11
Figure 3: Slovakia, E-Commerce Value 12
Figure 4: Slovakia, Population and Economic Indicators 19
Figure 5: Slovakia, ATMs, POS Terminals and Household Consumption 20
Figure 6: Slovakia, Payment Cards Transaction Value and Cards in Circulation, 2012-2021 22
Figure 7: Slovakia, Debit Card Penetration and Turnover Per Card 24
Figure 8: Slovakia, Debit Cards Scheme and Issuer Transaction Value Share, 2016 26
Figure 9: Slovakia, Pay Later Card Penetration and Turnover Per Card 29
Figure 10: Slovakia, Pay Later Cards Scheme and Issuer Transaction Value Share, 2016 31
Figure 11: Slovakia, Prepaid Cards in Circulation and Transaction Value, 2012-2021 34
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.