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

Published By :

Timetric

Published Date : May 2013

Category :

Banking

No. of Pages : 79 Pages

Synopsis

The report provides market analysis, information and insights into Austria’s cards and payments market, including:

  • Current and forecast values for each category of Austria’s cards and payments industry including debit cards, credit cards, prepaid cards and charge cards
  • Comprehensive analysis of the industry’s market attractiveness and future growth areas
  • Analysis of various market drivers and regulations governing Austria’s cards and payments industry
  • Detailed analysis of the marketing strategies adopted for selling debit, credit, charge and prepaid cards used by various bankers and other institutions in the market
  • Comprehensive analysis of consumer attitudes and their buying preferences for cards
  • Competitive landscape of Austria’s cards and payments industry

Executive summary

Austria has the 10th-largest economy in the EU and presents numerous challenges for international entrants into the cards and payments industry. Austria has a highly developed payment infrastructure and a relatively low level of card use, providing substantial growth opportunities. Credit transfers and cash-based payments are the preferred channels, having a combined industry share of 85.4%. Card payments account for just a 1.3% share. 

The Austrian cards and payments industry, which includes a variety of debit, credit, charge and prepaid cards offered by a large number of banking and non-banking companies, recorded increasing growth during the review period. Austrian payments are mainly cash-based, but the country is gradually adopting card payments. The most important payment card instrument is the debit card and in recent years, especially at points of sale, debit card transactions have increased considerably. Banks are offering bespoke products to meet specific customer needs and are increasingly targeting niche markets such as high-end customers. 

The number of ATMs installed in Austria increased moderately during the review period, from 7,646 in 2008 to 8,252 in 2012, at a CAGR of 1.93%. The number of ATMs in the country is expected to reach a moderate 8,513 by the end of 2017. The number of POS terminals was 107,794 at the end of 2012, up from 106,807 at the end of 2008, having recorded a CAGR of 0.23% during the review period.

Scope

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

Key highlights

  • The cards and payments industry in Austria grew substantially both in value and volume terms during the review period. Over the forecast period it is expected to grow at a CAGR of 3.06% in volume terms, and 1.09% in value terms.
  • In terms of transaction value, the overall industry grew from EUR38.2 billion (US$56.0 billion) in 2008 to EUR43.4 billion (US$55.8 billion) in 2012, at a CAGR of 3.26%. It is expected to grow from EUR43.9 billion (US$56.4 billion) in 2013 to EUR45.8 billion (US$58.9 billion) in 2017 at a CAGR of 1.1%.
  • E-commerce constitutes more than half of Austrian retail sales. Security developments in e-payment and m-payment systems have enabled steady growth in e-commerce, and the use of video and social media for enhanced product presentation and e-commerce services has also driven its growth. Major operators in Austrian e-commerce are Amazon.de, Neckermann and Otto GmBH.
  • All card categories posted positive growth during the review period. Growth in terms of number of cards in circulation was highest in the prepaid cards category with a CAGR of 5.92%. The second-largest growth was seen in the charge card category with a CAGR of 4.36%. The credit cards category is expected to grow, with a CAGR of 1.68% over the forecast period, while debit cards are also expected to grow at a CAGR of 1.36% during 2013–2017.

Reasons to buy

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

1 Executive Summary

2 Market Attractiveness and Future Prospects of the Cards and Payments Industry

3 Analysis of Austrian Cards and Payments Industry Drivers
3.1 Infrastructure Drivers
3.1.1 Single Euro Payments Area (SEPA)
3.1.2 Growth and modernization in POS terminals
3.1.3 Growth in ICT usage in households and business enterprises
3.1.4 Growing number of ATMs
3.2 Business Drivers
3.2.1 E-commerce
3.2.2 M-commerce
3.2.3 Retail chains
3.3 Economic fundamentals
3.3.1 Gross domestic product (GDP)
3.3.2 Urban population
3.3.3 Declining inflation and increasing annual disposable income
3.4 Card Fraud Statistics
3.5 Regulatory Framework
3.5.1 SEPA cards framework
3.5.2 Guidelines and requirements of the payment services directive (PSD)
3.5.3 Regulations on cross-border payments in euros
3.5.4 EPC mobile contactless SEPA guidelines

4 Emerging Consumer Attitudes and Trends
4.1 Industry Segmentation and Targeting
4.2 Retail Segment
4.2.1 Targeting the high net worth individual (HNWI) population
4.2.2 Cards for children and young consumers
4.2.3 Cards targeted at travel and tourism
4.3 Corporate Segment
4.3.1 Businesses and departments
4.4 Consumer Preference
4.4.1 Price
4.4.2 Services
4.4.3 Convenience
4.5 Online Buying Behavior
4.6 Preferred Payment Methods

5 Competitive Landscape and Industry Dynamics
5.1 Industry Share Analysis by Payment Channels
5.1.1 Overview of payment channels
5.1.2 Credit transfer
5.1.3 Direct debit
5.1.4 Card payments
5.1.5 Check payments
5.2 Debit Cards Category Share
5.2.1 By bank
5.2.2 By scheme
5.3 Credit Cards Category Share
5.3.1 By bank
5.3.2 By scheme
5.4 Charge Cards Category Share
5.4.1 By scheme

6 Strategies Adopted by Key Operators
6.1 Market Entry Strategies
6.2 Marketing and Product Strategies
6.2.1 Debit cards
6.2.2 Credit cards
6.2.3 Prepaid cards
6.3 Pricing Strategies

7 Size and Growth Potential of the Card Payments Channel
7.1 Channel Share Analysis by Type of Card
7.2 Total Size and Forecast of the Card Payments Channel
7.2.1 Analysis by number of cards
7.2.2 Analysis by transaction value
7.2.3 Analysis by transaction volume
7.3 Debit Cards Category Size and Forecast
7.3.1 Analysis by number of cards
7.3.2 Analysis by transaction value
7.3.3 Analysis by transaction volume
7.3.4 Other key performance indicators
7.4 Prepaid Cards Category Size and Forecast
7.4.1 Analysis by number of cards
7.4.2 Analysis by segments – open and closed-loop cards
7.4.3 Analysis by transaction value
7.5 Charge Cards Category Size and Forecast
7.5.1 Analysis by number of cards
7.5.2 Analysis by transaction value
7.5.3 Analysis by transaction volume
7.5.4 Frequency of use
7.6 Credit Cards Category Size and Forecast
7.6.1 Analysis by number of cards
7.1.1 Analysis by transaction value
7.1.2 Analysis by transaction volume
7.1.3 Other key performance indicators

8 Company Profiles, Products and Marketing Strategies
8.1 Bank Austria
8.1.1 Strategies
8.1.2 Credit cards offered
8.1.3 Debit cards offered
8.1.4 Prepaid cards offered
8.2 Erste Bank
8.2.1 Strategies
8.2.2 Credit cards offered
8.2.3 Debit cards offered
8.3 Raiffeisen Bank
8.3.1 Strategies
8.3.2 Credit cards offered
8.3.3 Debit cards offered
8.3.4 Prepaid cards offered
8.4 Volksbank
8.4.1 Strategies
8.4.2 Credit cards offered
8.4.3 Debit cards offered

9 Appendix
9.1 Methodology
9.2 Contact Us
9.3 About Timetric
9.4 Disclaimer

List of Table


Table 1: Austrian Internet Penetration, 2008–2012
Table 2: Austrian Payment Channels (EUR Million), 2008 and 2012
Table 3: Austrian Card Payments Channel by Type of Card (Thousands), 2008–2017
Table 4: Austrian Card Payments Channel Size by Volume (Thousands), 2008–2017
Table 5: Austrian Card Payments Channel Size by Transaction Value (EUR Million), 2008–2017
Table 6: Austrian Card Payments Channel Size by Transaction Value (US$ Million), 2008–2017
Table 7: Austrian Card Payments Channel Size by Transaction Volume (Million), 2008–2017
Table 8: Austrian Debit Cards Category Size (Thousands), 2008–2017
Table 9: Austrian Debit Cards Category Size (EUR Million), 2008–2017
Table 10: Austrian Debit Cards Category Size (US$ Million), 2008–2017
Table 11: Austrian Debit Cards Category Size by Transaction Volume (Million), 2008–2017
Table 12: Austrian Debit Cards Category Size by Frequency of Use (Transactions per Card per Year), 2008–2017
Table 13: Austrian Prepaid Cards Category Size (Thousands), 2008–2017
Table 14: Austrian Open-Loop Prepaid Cards Segment Size (Thousands), 2008–2017
Table 15: Austrian Closed-Loop Prepaid Cards Segment Size (Thousands), 2008–2017
Table 16: Austrian Prepaid Cards Category Size (EUR Million), 2008–2017
Table 17: Austrian Prepaid Cards Category Size (US$ Million), 2008–2017
Table 18: Austrian Charge Cards Category Size (Thousands), 2008–2017
Table 19: Austrian Charge Cards Category Size (EUR Million), 2008–2017
Table 20: Austrian Charge Cards Category Size (US$ Million), 2008–2017
Table 21: Austrian Charge Cards Category Size by Transaction Volume (Million), 2008–2017
Table 22: Austrian Charge Cards Category Size by Frequency of Use (Transactions per Card per Year), 2008–2017
Table 23: Austrian Credit Cards Category Size by Volume (Thousands), 2008–2017
Table 24: Austrian Credit Cards Category Size by Transaction Value (EUR Million), 2008–2017
Table 25: Austrian Credit Cards Category Size by Transaction Value (US$ Million), 2008–2017
Table 26: Austrian Credit Cards Category Size by Transaction Volume (Million), 2008–2017
Table 27: Austrian Credit Cards Category Size by Frequency of Use (Transactions per Card per Year), 2008–2017
Table 28: Austrian Credit Cards Category Size by Average Transaction Value (EUR), 2008–2017
Table 29: Austrian Credit Cards Category Size by Average Transaction Value (US$), 2008–2017

List of Chart


Figure 1: Austria – Growth of Various Card Categories (%), Review and Forecast Period
Figure 2: Growth Potential of the Austrian Cards and Payments Industry by Area of Use
Figure 3: Austrian Cards and Payments Industry Drivers
Figure 4: Number of POS Terminals in Austria (Thousands), 2008–2017
Figure 5: Number of ATMs in Austria (Thousands), 2008–2017
Figure 6: Growth in E-Commerce in Austria (EUR Billion), 2008–2011
Figure 7: Austrian GDP Growth Rate (%), Q1 2011–Q4 2012
Figure 8: Urbanization in Austria, 2012
Figure 9: Austrian Inflation (%), 2008–2017
Figure 10: Austrian Annual Disposable Income (EUR Billion), 2008–2017
Figure 11: Austrian Card Fraud Statistics (EUR Million), 2008–2012
Figure 12: Industry Segmentation of Cards in Austria
Figure 13: Corporate Cards Offered in Austria
Figure 14: Austrian Consumer Preferences for Various Types of Card
Figure 16: Share of Different Payment Channels in Austria (%), 2012
Figure 17: Austrian Value and Growth of Credit Transfers (EUR Million), 2008–2012
Figure 18: Austrian Value and Growth of Direct Debit (EUR Million), 2008–2012
Figure 19: Austrian Value and Growth of Card Payments (EUR Million), 2008–2012
Figure 20: Austrian Value and Growth of Check Payments (EUR Million), 2008–2012
Figure 21: Austrian Debit Card Category Share by Banks (%), 2011
Figure 22: Austrian Debit Card Category Shares by Scheme (%), 2011
Figure 23: Austrian Credit Card Category Shares by Bank (%), 2011
Figure 24: Austrian Credit Card Category Shares by Scheme (%), 2011
Figure 25: Austrian Charge Card Category Shares by Scheme (%), 2011
Figure 26: Market Entry Strategies of Foreign Banks in Austria, 2011
Figure 27: Marketing Strategies Based on Card Type in Austria
Figure 28: Credit Card Pricing Strategies of Various Service Providers
Figure 29: Austrian Card Payments Channel by Type of Card (%), 2008–2017
Figure 30: Austrian Card Payments Channel Size by Volume (Thousands), 2008–2017
Figure 31: Austrian Cards and Payments Industry Size by Transaction Value (EUR Million), 2008–2017
Figure 32: Austrian Card Payments Channel Size by Transaction Volume (Million), 2008–2017
Figure 33: Austrian Debit Cards Category Size (Thousands), 2008–2017
Figure 34: Austrian Debit Cards Category Size (EUR Million), 2008–2017
Figure 35: Austrian Debit Cards Category Size by Transaction Volume (Million), 2008–2017
Figure 36: Austrian Debit Cards Category Size by Frequency of Use (Transactions per Card per Year), 2008–2017
Figure 37: Debit Card Use at ATMs and POS Terminals (Million), 2008–2017
Figure 38: Austrian Prepaid Cards Category Size (Thousands), 2008–2017
Figure 39: Austrian Open-Loop Prepaid Cards Segment Size (Thousands), 2008–2017
Figure 40: Austrian Closed-Loop Prepaid Cards Segment Size (Thousands), 2008–2017
Figure 41: Austrian Prepaid Cards Category Size (EUR Million), 2008–2017
Figure 42: Austrian Charge Cards Category Size (Thousands), 2008–2017
Figure 43: Austria Charge Cards Category Size (EUR Million), 2008–2017
Figure 44: Austrian Charge Cards Category Size by Transaction Volume (Million), 2008–2017
Figure 45: Austrian Charge Cards Category Size by Frequency of Use (Transactions per Card per Year), 2008–2017
Figure 46: Austrian Credit Cards Category Size by Volume (Thousands), 2008–2017
Figure 47: Austrian Credit Cards Category Size by Transaction Value (EUR Million), 2008–2017
Figure 48: Austrian Credit Cards Category Size by Transaction Volume (Million), 2008–2017
Figure 49: Austrian Credit Cards Category Size by Frequency of Use (Transactions per Card per Year), 2008–2017
Figure 50: Austrian Credit Cards Category Size by Average Transaction Value (EUR), 2008–2017
Figure 51: Bank Austria – Market Segmentation of Cards Offered
Figure 52: Erste Bank – Market Segmentation of Cards Offered
Figure 53: Raiffeisen Bank – Market Segmentation of Cards Offered
Figure 54: Volksbank – Market Segmentation of Cards Offered

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