866-997-4948(US-Canada Toll Free)

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

Published By :

Timetric

Published Date : Jul 2013

Category :

Banking

No. of Pages : 71 Pages


Synopsis

The report provides market analysis, information and insights into Luxembourg\'s cards and payments market, including:

  • Current and forecast values for each category of Luxembourg\'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 Luxembourg\'s cards and payments industry
  • Detailed analysis of the marketing strategies adopted for selling debit and credit 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 Luxembourg\'s cards and payments industry

Executive summary

Luxembourg’s card payments channel declined during the 2008–2012 review period in terms of the number of cards in circulation. The discontinuation of the Mini-cash electronic payment system in 2011 adversely affected the prepaid cards category in the country, which resulted in a decline in the overall card payments channel. The debit and credit card categories, however, grew at a healthy pace during the review period. In terms of the number of cards in circulation, the card payments channel declined marginally from 2.4 million cards in 2008 to 2.3 million in 2012, at a CAGR of -1.61%. The channel is expected to grow from 2.4 million in 2013 cards to 2.6 million in 2017, at a CAGR of 2.94% over the forecast period. Growth in internet penetration has resulted in increased online retail sales in the country. 

To benefit from this, banks are increasingly expanding their internet banking infrastructure and offering web payment cards. The increasing acceptance of cards at retail outlets and a consumer shift towards making purchases using cards resulted in an increasing number of POS transactions during the review period. The number of POS transactions grew at a CAGR of 3.37% during the review period, and is projected to grow at a CAGR of 2.80% over the forecast period, from 45.4 million transactions in 2013 to 50.7 million in 2017.

Scope

This report provides a comprehensive analysis of Luxembourg\'s cards and payments industry

  • It provides current values for Luxembourg\'s cards and payments industry for 2012 and forecast figures for 2017
  • It details the different macroeconomic, infrastructural, consumer and business drivers affecting Luxembourg\'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 Luxembourg\'s cards and payments industry

Reasons to buy

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

Key highlights

  • In terms of the number of cards in circulation, the card payments channel is expected to grow from 2.4 million in 2013 to 2.6 million in 2017, at a CAGR of 2.94% over the forecast period. In terms of transaction value, the card payments channel grew during the review period at a CAGR of 3.31% and is projected to grow at a CAGR of 1.51% over the forecast period.
  • In March 2011, banks decided to discontinue supporting the local Bancomat scheme and selected the V Pay debit scheme. By the end of 2011, more than 600,000 debit cards had been replaced with V Pay debit cards which are secured by Chip-and-PIN technology. All banks moved to the 3-D Secure service to support safer online payments from 2012 onwards.
  • Increasing social media penetration is expected to encourage banks and other issuers to use these sites to reach a wider customer base and promote their products.
  • Mobile commerce, gifts, entertainment, online purchases and travel all display positive growth potential, which is expected to drive the credit cards category. During the review period, the use of credit cards at POS terminals increased significantly both in volume and value terms at CAGRs of 9.68% and 9.62% respectively.
Table of contents

1 Executive Summary

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

3 Analysis of Luxembourg\'s Cards and Payments Industry Drivers
3.1 Infrastructure Drivers
3.1.1 Adoption of new technologies
3.1.2 Increasing number of internet users
3.1.3 Increasing number of ATMs and POS terminals
3.2 Business Drivers
3.2.1 Growing popularity of web payment cards
3.2.2 Rising m-commerce
3.2.3 Growing e-commerce
3.3 Consumer Drivers
3.3.1 Increasing per capita income
3.3.2 Rising employment rate
3.4 Macroeconomic Fundamentals
3.4.1 Stable GDP
3.4.2 Declining inflation
3.4.3 Urban and rural populations
3.5 Card Fraud Statistics
3.6 Regulatory Framework

4 Emerging Consumer Attitudes and Trends
4.1 Industry Segmentation and Targeting
4.1.1 Retail Segment
4.1.2 Corporate Segment
4.2 Consumer Preference
4.2.1 Price
4.2.2 Services
4.2.3 Convenience
4.3 Online Buying Behavior

5 Competitive Landscape and Industry Dynamics
5.1 Industry Share Analysis by Non-Cash Payments Channels
5.1.1 Credit transfer
5.1.2 Direct debit
5.1.3 Card payments
5.1.4 Check payments
5.2 Debit Cards Category Share
5.2.1 By bank
5.2.2 By scheme
5.3 Credit Cards Category Share by Scheme

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

7 Size and Growth Potential of the Card Payments Channel
7.1 Channel Share Analysis by Card Category
7.2 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 Credit Cards Category Size and Forecast
7.4.1 Analysis by number of cards
7.4.2 Analysis by transaction value
7.4.3 Analysis by transaction volume
7.4.4 Average transaction value
7.4.5 Other key performance indicators
7.5 Prepaid Cards Category Size and Forecast
7.5.1 Analysis by number of cards
7.5.2 Analysis by segment - open- and closed-loop cards
7.5.3 Analysis by transaction value

8 Company Profiles, Products and Marketing Strategies
8.1 Banque Internationale a Luxembourg (BIL)
8.1.1 BIL\'s key financials
8.1.2 Card portfolio
8.1.3 Strategies
8.2 Banque et Caisse Depargne de l\' Etat Luxembourg (BCEE)
8.2.1 BCEE\'s key financials
8.2.2 Card portfolio
8.2.3 Strategies
8.3 BGL BNP Paribas
8.3.1 BGL BNP Paribas key financials
8.3.2 Card portfolio
8.3.3 Strategies
8.4 ING Luxembourg
8.4.1 ING Luxembourg key financials
8.4.2 Card portfolio
8.4.3 Strategies
8.5 Banque de Luxembourg (BL)
8.5.1 Banque de Luxembourg key financials
8.5.2 Card portfolio
8.5.3 Strategies

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

List of Table


Table 1: Cards for Young Consumers Offered by Various Banks in Luxembourg
Table 2: Travel Cards Offered by Various Banks in Luxembourg
Table 3: Online Purchases By Individuals (%), 2008 and 2012
Table 4: Luxembourg\'s Payment Channels (EUR Billion), 2008 and 2012
Table 5: Market Entry Strategies of Foreign Banks in Luxembourg
Table 6: Luxembourg Card Payments Channel by Card Category (Thousands), 2008-2017
Table 7: Luxembourg Card Payments Channel Size by Number of Cards (Thousands), 2008-2017
Table 8: Luxembourg Card Payments Channel Size by Transaction Value (EUR Million), 2008-2017
Table 9: Luxembourg Card Payments Channel Size by Transaction Value (US$ Million), 2008-2017
Table 10: Luxembourg Card Payments Channel Size by Number of Transactions (Million), 2008-2017
Table 11: Luxembourg Debit Cards Category Size by Number of Cards (Thousands), 2008-2017
Table 12: Luxembourg Debit Cards Category Size by Transaction Value (EUR Million), 2008-2017
Table 13: Luxembourg Debit Cards Category Size by Transaction Value (US$ Million), 2008-2017
Table 14: Luxembourg Debit Cards Category Size by Number of Transactions (Million), 2008-2017
Table 15: Luxembourg Debit Cards Category Frequency of Use, 2008-2017
Table 16: Luxembourg Credit Cards Category Size by Number of Cards (Thousands), 2008-2017
Table 17: Luxembourg Credit Cards Category Size by Transaction Value (EUR Million), 2008-2017
Table 18: Luxembourg Credit Cards Category Size by Transaction Value (US$ Million), 2008-2017
Table 19: Luxembourg Credit Cards Category Size by Number of Transactions (Million), 2008-2017
Table 20: Luxembourg Credit Cards Category Size by Average Transaction Value (EUR), 2008-2017
Table 21: Luxembourg Credit Cards Category Size by Average Transaction Value (US$), 2008-2017
Table 22: Luxembourg Credit Cards Category Frequency of Use, 2008-2017
Table 23: Luxembourg Prepaid Cards Category Size by Number of Cards (Thousands), 2008-2017
Table 24: Luxembourg Closed-Loop Prepaid Cards Segment Size by Number of Cards (Thousands), 2008-2017
Table 25: Luxembourg Open-Loop Prepaid Cards Segment Size by Number of Cards (Thousands), 2008-2017
Table 26: Luxembourg Prepaid Cards Category Size by Transaction Value (EUR Million), 2008-2017
Table 27: Luxembourg Prepaid Cards Category Size by Transaction Value (US$ Million), 2008-2017
Table 28: BIL\'s Key Financial Indicators, 2011-2012
Table 29: BIL\'s - Card Portfolio
Table 30: BCEE Key Financial Indicators, 2011-2012
Table 31: BCEE\'s - Card Portfolio
Table 32: BGL BNP Paribas Key Financial Indicators, 2011-2012
Table 33: BGL BNP Paribas Bank\'s - Card Portfolio
Table 34: ING Luxembourg Key Financial Indicators, 2011-2012
Table 35: ING Luxembourg\'s - Card Portfolio
Table 36: Banque De Luxembourg Key Financial Indicators, 2011-2012
Table 37: Banque De Luxembourg - Card Portfolio

List of Chart


Figure 1: Luxembourg - Growth of Various Card Categories (%), 2008-2017
Figure 2: Luxembourg Cards and Payments Industry Drivers
Figure 3: Number of Internet Users in Luxembourg (Thousands), 2008-2011
Figure 4: Number of ATMs and POS terminals in Luxembourg (Thousands), 2008-2017
Figure 5: M-Payments in Luxembourg (EUR Million), 2008-2017
Figure 6: Per Capita Income in Luxembourg (EUR), 2008-2017
Figure 7: Employment in Luxembourg (%), 2008-2017
Figure 8: Luxembourg GDP Growth Rate (%), 2008-2017
Figure 9: Inflation Rate in Luxembourg (%), 2008-2017
Figure 10: Urban and Rural Populations in Luxembourg (Thousands), 2008-2017
Figure 11: Luxembourg Card Fraud Statistics (EUR Million), 2008-2012
Figure 12: Card Payments Channel Customer Segmentation in Luxembourg
Figure 13: Types of Cards Offered by Banks in Luxembourg
Figure 14: Shares of Different Payment Channels in Luxembourg (%), 2008 and 2012
Figure 15: Credit Transfer Value in Luxembourg (EUR Billion), 2008-2012
Figure 16: Direct Debit Value in Luxembourg (EUR Billion), 2008-2012
Figure 17: Card Payments Value in Luxembourg (EUR Billion), 2008-2012
Figure 18: Check Payments Value in Luxembourg (EUR Billion), 2008-2012
Figure 19: Luxembourg Debit Cards Category Share by Bank (%), 2011
Figure 20: Luxembourg Debit Cards Category Share by Scheme (%), 2011
Figure 21: Luxembourg Credit Cards Category Share by Scheme (%), 2011
Figure 22: Card Marketing Strategies of Banks in Luxembourg
Figure 23: Luxembourg Card Payments Channel by Card Category (%), 2008-2017
Figure 24: Luxembourg Card Payments Channel Size by Number of Cards (Thousands), 2008-2017
Figure 25: Luxembourg Card Payments Channel Size by Transaction Value (EUR Million), 2008-2017
Figure 26: Luxembourg Card Payments Channel Size by Number of Transactions (Million), 2008-2017
Figure 27: Luxembourg Debit Cards Category Size by Number of Cards (Thousands), 2008-2017
Figure 28: Luxembourg Debit Cards Category Size by Transaction Value (EUR Million), 2008-2017
Figure 29: Luxembourg Debit Cards Category Size by Number of Transactions (Million), 2008-2017
Figure 30: Luxembourg Debit Cards Category Frequency of Use, 2008-2017
Figure 31: Debit Card Transactions at ATMs and POS Terminals (Million), 2008-2017
Figure 32: Luxembourg Credit Cards Category Size by Number of Cards (Thousands), 2008-2017
Figure 33: Luxembourg Credit Cards Category Size by Transaction Value (EUR Million), 2008-2017
Figure 34: Luxembourg Credit Cards Category Size by Number of Transactions (Million), 2008-2017
Figure 35: Luxembourg Credit Cards Category Size by Average Transaction Value (EUR), 2008-2017
Figure 36: Luxembourg Credit Cards Category Frequency of Use, 2008-2017
Figure 37: Luxembourg Prepaid Cards Category Size by Number of Cards (Thousands), 2008-2017
Figure 38: Luxembourg Closed-Loop Prepaid Cards Segment Size by Number of Cards (Thousands), 2008-2017
Figure 39: Luxembourg Prepaid Cards Category Size by Transaction Value (EUR Million), 2008-2017

Make an enquiry before buying this Report

Please fill the enquiry form below.

  • Full Name *
  • Your Email *
  • Job Title
  • Company *
  • Phone No. * (Pls. Affix Country Code)
  • Message
  • Security Code *

Upcoming Reports

  • Online Banking Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2012 - 2018

    Online banking is a service provided by financial institutions that allows customers to carry out financial transactions through secure websites. Many customers are turning towards the convenience and ease of online banking to carry out their financial transactions. These websites can be operated through a virtual bank by using a retail operator or through a credit union. With online banking, customers can conduct transactions such as account m...

  • Mobile Commerce Market - Global Industry Size, Market Share, Trends, Analysis, And Forecast, 2012 - 2017

    Mobile commerce is handled by devices like laptops, cellular phones, Smart phones and tablet computers to execute online commercial transactions. Mobile commerce is experiencing continuous growth in a variety of fields including sales and purchase of a wide range of services and goods, payments of bills, net banking and so on. All these transactions are collectively known as m-commerce or mobile commerce. Mobile commerce is a successor o...

  • ATM Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019

    ATM is an abbreviation of automated teller machine which is also known as automated banking machine, cash point, cash machine or cash line. It is a computerized telecommunication device that enables a client of financial institution to perform transactions without the support of a cashier, bank teller or clerk. The customer can perform a transaction by inserting a plastic smart card or magnetic stripe with a chip containing a unique card number...