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

Published By :

Timetric

Published Date : Apr 2013

Category :

Banking

No. of Pages : 90 Pages


Synopsis

The report provides market analysis, information and insights into Finlands cards and payments market, including:

  • Current and forecast values for each category of Finlands cards and payments industry including debit cards, credit cards, prepaid cards and charge cards
  • Comprehensive analysis of the industrys market attractiveness and future growth areas
  • Analysis of various market drivers and regulations governing Finlands 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 Finlands cards and payments industry
Summary

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 (20082012) 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


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
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.
Table of Content

1 Executive Summary

2 Market Attractiveness and Future Prospects of Cards and Payments Industry

3 Analysis of Cards and Payments Market Drivers
3.1 Macroeconomic Drivers
3.1.1 Gross domestic product (GDP) growth
3.1.2 Per capita income
3.1.3 Increasing acceptance of EMV cards
3.1.4 Inflation
3.2 Infrastructure Drivers
3.2.1 Single Euro Payments Area (SEPA) cards
3.2.2 Emergence of contactless and NFC payments
3.2.3 Growing number of POS terminals
3.3 Business Drivers
3.3.1 Growth in e-commerce
3.3.2 Growth in m-commerce
3.3.3 Annual disposable income
3.4 Consumer Drivers
3.4.1 Urban vs. rural population
3.4.2 Internet users
3.5 Retail Industry
3.6 Card Fraud Statistics
3.7 Regulatory Framework
3.7.1 SEPA cards framework
3.7.2 Guidelines and requirements of the Payment Services Directive (PSD)
3.7.3 New payment service act based on PSD
3.7.4 EPC publishes mobile contactless SEPA guidelines
3.7.5 Anti-money laundering

4 Emerging Consumer Attitudes and Trends
4.1 Market Segmentation and Targeting
4.1.1 Retail segment
4.1.2 Corporate segment
4.2 Consumer Preferences
4.2.1 Price
4.2.2 Convenience
4.2.3 Services
4.3 Online Buying Behaviour
4.4 Preferred Payment Methods

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

6 Strategies Adopted by Key Players
6.1 Market Entry Strategies
6.2 Marketing / Product Strategy
6.2.1 Debit card strategy
6.2.2 Credit card strategy
6.2.3 Prepaid card strategy
6.3 Pricing Strategies

7 Market Size and Growth Potential of Industry
7.1 Market Share Analysis by Type of Card
7.2 Total Market Size and Forecast of Card Industry
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 Card Market Size and Forecast
7.3.1 Analysis by number of cards
7.3.2 By transaction value
7.4 Credit Card Market Size and Forecast
7.4.1 Analysis by number of cards
7.4.2 By transaction value
7.4.3 By transaction volume
7.5 Prepaid Card Market Size and Forecast
7.5.1 By volume of cards
7.5.2 Volume of open-loop prepaid cards
7.5.3 Volume of closed-loop prepaid cards
7.5.4 By value of transactions
7.6 Charge Card Market Size and Forecast
7.6.1 By volume of cards
7.6.2 By transaction value

8 Company Profiles, Product, and Marketing Strategies
8.1 Nordea Bank
8.1.1 Strategies
8.1.2 Nordea Bank key financial indicators
8.2 OP-Pohjola Group
8.2.1 Strategies
8.2.2 OP-Pohjola Group key financial indicators
8.3 Sampo Bank
8.3.1 Strategies
8.3.2 Sampo Bank Group key financial indicators
8.4 Handelsbanken
8.4.1 Strategies
8.4.2 Handelsbanken key financial indicators
8.5 Luottokunta
8.5.1 Strategies
8.5.2 Luottokunta key financial indicators

9 Appendix
9.1 Methodology
9.2 Definitions
9.3 Contact Us
9.4 About Timetric
9.4.1 Our approach
9.5 Services
9.6 Disclaimer

List of Table


Table 1: Finland Payment Channels, 20082012
Table 2: Finnish Cards Industry by Type of Card (Thousand), 20082017
Table 3: Finnish Cards Market Size by Volume (Thousand), 20082017
Table 4: Finnish Cards Market Size by Transaction Value (EUR Million), 20082017
Table 5: Finnish Cards Market Size by Transaction Value (US$ Million), 20082017
Table 6: Finnish Cards Market Size by Transaction Volume (Million), 20082017
Table 7: Finnish Debit Card Category Market Size (Thousand), 20082017
Table 8: Finnish Debit Card Category Market Size (EUR Million), 20082017
Table 9: Finnish Debit Card Category Market Size (US$ Million), 20082017
Table 10: Finnish Credit Card Category Market Size by Volume (Thousand), 20082017
Table 11: Finnish Credit Card Category Market Size by Transaction Value (EUR Million), 20082017
Table 12: Finnish Credit Card Category Market Size by Transaction Value (US$ Million), 20082017
Table 13: Finnish Credit Card Category Market Size by Transaction Volume (Million), 20082017
Table 14: Finnish Prepaid Card Category Market Size (Thousand), 20082017
Table 15: Finnish Open-Loop Prepaid Cards Market Size (Thousand), 20082017
Table 16: Finnish Closed-Loop Prepaid Cards Market Size (Thousand), 20082017
Table 17: Finnish Prepaid Cards Category Market Size (EUR Million), 20082017
Table 18: Finnish Prepaid Cards Category Market Size (US$ Million), 20082017
Table 19: Finnish Charge Card Category Market Size (Thousand), 20082017
Table 20: Finnish Charge Card Category Market Size (EUR Million), 20082017
Table 21: Finnish Charge Card Category Market Size (US$ Million), 20082017
Table 22: Nordea Key Financial Indicators, 20102011
Table 23: OP-Pohjola Group Key Financial Indicators, 20102011
Table 24: Sampo Bank Key Financial Indicators, 20102011
Table 25: Handelsbanken Key Financial Indicators, 20102011
Table 26: Luottokunta Key Financial Indicators, 20102011
Table 27: Cards and Payments Key Definitions

List of Chart


Figure 1: Current and Future Prospects of Various Cards in Finland (%), 20082017
Figure 2: Growth Potential of the Finnish Cards and Payments Industry by Area of Usage
Figure 3: Finnish Cards and Payments Market Drivers
Figure 4: Finnish GDP Growth Rate (%), 20082012
Figure 5: Finnish Per Capita Income (EUR), 20072012
Figure 6: Deployment of EMV Cards in Europe, March 2012
Figure 7: Finnish Inflation Rates (%), 20072017
Figure 8: NFC Transactions in Finland (EUR Million), 20122017
Figure 9: Number of ATMs and POS Terminals in Finland (Thousand), 20082012
Figure 10: E-Commerce Sales in Finland (EUR Billion), 20092011
Figure 11: Smartphone Penetration in Finland (%), 20102012
Figure 12: Annual Disposable Income (EUR Million), 20102012
Figure 13: Urban Vs. Rural Population in Finland (Million), 20082017
Figure 14: Number of Internet Users (Million), 20082012
Figure 15: Growth Rate of Value and Volume of Retail Sales (%), 20112012
Figure 16: Finnish Card Fraud Statistics (EUR Million), 20082012
Figure 17: Finnish Cards and Payments Industry Segmentation
Figure 18: Young Population in Finland (Thousand), 20082012
Figure 19: Volume of Outbound Leisure Tourists in Finland (Million), 20082012
Figure 20: Volume of HNWI Population (Thousand), 2010 and 2012
Figure 21: Corporate Cards Offered in Finland
Figure 22: Diners Clubs Finnair Card Offered in Finland
Figure 23: Volume of Domestic and Outbound Business Tourists in Finland (Million), 20062010
Figure 24: Consumer Preferences on Various Types of Cards
Figure 25: Number of POS Terminals in Finland (Thousands), 20082017
Figure 26: Top Five Products Purchased Online in Finland (%), 2012
Figure 27: Share of Different Online Payment Options in Finland (%), 2012
Figure 28: Share of Payment Channels in Finland (%), 2012
Figure 29: Value of Cash Transactions in Finland (EUR Million), 20082012
Figure 30: Value of Credit Transfers in Finland (EUR Billion), 20082012
Figure 31: Value of Direct Debit in Finland (EUR Million), 20082012
Figure 32: Value of Card Payments in Finland (EUR Million), 20082012
Figure 33: Value of Check Payments in Finland (EUR Million), 20082012
Figure 34: Finnish Debit Card Market Share by Banks (%), 2011
Figure 35: Finnish Debit Card Market Share by Scheme (%), 2011
Figure 36: Finnish Credit Card Market Share by Bank (%), 2011
Figure 37: Finnish Credit Card Market Share by Scheme (%), 2011
Figure 38: Finnish Charge Card Market Share by Scheme (%), 2011
Figure 39: Foreign Banks Operating in Finland
Figure 40: Marketing Strategies Based on Card Type
Figure 41: Co-Branded Debit Cards
Figure 42: Personalized Debit Card
Figure 43: Co-Branded Credit Cards
Figure 44: Co-Branded Prepaid Cards
Figure 45: Credit Card Pricing Strategies of Nordea Bank
Figure 46: Debit Card Pricing Strategies of Nordea Bank
Figure 47: Finnish Cards Industry by Type of Card (%), 20082017
Figure 48: Finnish Cards Market Size by Volume (Thousand), 20082017
Figure 49: Finnish Cards Market Size by Transaction Value (EUR Million), 20082017
Figure 50: Finnish Cards Market Size by Transaction Volume (Million), 20082017
Figure 51: Finnish Debit Card Category Market Size (Thousand), 20082017
Figure 52: Finnish Debit Card Category Market Size (EUR Million), 20082017
Figure 53: Finnish Credit Card Category Market Size by Volume (Thousand), 20082017
Figure 54: Finnish Credit Card Category Market Size by Transaction Value (EUR Million), 20082017
Figure 55: Finnish Credit Card Category Market Size by Transaction Volume (Million), 20082017
Figure 56: Finnish Prepaid Card Category Market Size (Thousand), 20082017
Figure 57: Finnish Open-Loop Prepaid Cards Market Size (Thousand), 20082017
Figure 58: Finnish Closed-Loop Prepaid Cards Market Size (Thousand), 20082017
Figure 59: Finnish Prepaid Cards Category Market Size (EUR Million), 20082017
Figure 60: Finnish Charge Card Category Market Size (Thousand), 20082017
Figure 61: Finnish Charge Card Category Market Size (EUR Million), 20082017
Figure 62: Cards Offered by Nordea Bank
Figure 63: Cards Offered by OP-Pohjola Group with Special Features
Figure 64: Cards Offered by Sampo Bank with Special Features
Figure 65: Bonus on Sampo Bank Card
Figure 66: Cards Offered by Handelsbanken with Special Features
Figure 67: Co-branded Cards of Handelsbanken with Special Features
Figure 68: Cards Offered by Luottokunta with Special Features


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