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Payments Landscape In Bulgaria: Opportunities And Risks To 2021

Published on: Mar 2018 | From USD $2750 | Published By: GLOBAL DATA | Number Of Pages: 47

Payments Landscape in Bulgaria: Opportunities and Risks to 2021

Summary

GlobalDataŐs "Payments Landscape in Bulgaria: Opportunities and Risks to 2021", report provides detailed analysis of market trends in the Bulgarian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including credit transfers, direct debit, cash and payment cards during the review-period (2013-17e).

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 (2017-21f). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.

The report brings together GlobalDataŐs 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.

This report provides top-level market analysis, information and insights into the Bulgarian cards and payments industry, including -
- Current and forecast values for each market in the Bulgarian cards and payments industry, including debit and credit cards.
- Detailed insights into payment instruments including credit transfers, direct debit, cash, 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 Bulgarian cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.

Scope

- The share of domestic scheme provider BORICA has been declining, with international scheme providers Mastercard and Visa taking charge of the debit card market. BORICAŐs share fell from 3.9% in 2013 to 1.3% 2017 in terms of number of cards in circulation. To regain its presence and to compete with international schemes, BORICA launched national card scheme Bcard in July 2017. As of November 2017, six banks and several non-banks have started issuing Bcard in the country.
- American Express exited the Bulgarian market in 2017. In July 2017, Postbank (subsidiary of Eurobank Group) - which was the sole issuer of American Express cards - ceased both the issuance and maintenance of American Express pay-later cards in the country. The bankŐs existing American Express cards were replaced with Mastercard-branded cards, which contributed to the growth of MastercardŐs pay-later card share in 2017.
- Contactless payments are gaining traction in Bulgaria. All major banks now offer contactless cards in the country, while Visa and Mastercard have launched their respective contactless technologies, payWave and PayPass. According to Visa Europe, Bulgarian contactless payments via Visa cards rose by 612% over the 12-month period to April 2016. Almost 40,000 contactless terminals accept Visa contactless cards in the country. To capitalize on this trend, in March 2017 CIBANK collaborated with Mastercard to become the first bank in Bulgaria to introduce contactless ATMs.

Reasons to buy

- Make strategic business decisions, using top-level historic and forecast market data, related to the Bulgarian cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in the Bulgarian cards and payments industry.
- Assess the competitive dynamics in the Bulgarian cards and payments industry.
- Gain insights into marketing strategies used for various card types in Bulgaria.
- Gain insights into key regulations governing the Bulgarian cards and payments industry. Companies Mentioned in this report are - OTP Bank
KBC Bank
UniCredit Bank
Central Cooperative Bank
Eurobank
First Investment Bank
Raiffeisen Bank
United Bulgarian Bank
Access Finance
BORICA
Visa
Mastercard

Table of Contents
Market Overview
Executive Summary
Card-based Payments
E-commerce Payments
Alternative Payments
Payments Infrastructure & Regulation
Appendix

SECONDARY RESEARCH
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.

PRIMARY RESEARCH
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.

MARKET ENGINEERING
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.

EXPERT VALIDATION
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.

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