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Emerging Opportunities in Norways 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 : 65 Pages


Synopsis

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

  • Current and forecast values for each category of Norways 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 Norways 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 Norways cards and payments industry

Summary

Norways cards and payments industry exhibited nominal growth during the review period (2008 - 2012), increasing at a CAGR of 3.97%, from 15.34 million cards in 2008 to 17.9 million cards in 2012. Over the forecast period, the industry is forecast to register further growth with a CAGR of 1.33%, rising from 18.3 million cards in 2013 to 19.3 million cards in 2017. A high internet penetration in Norway is changing consumers preferences for online shopping. According to an e-commerce survey in the country by DIBS Payment Services, a supplier of functional, secure payment services for e-commerce in the Nordic region in 2012, home-electronics recorded a 51% share of online purchases, while books and clothing/footwear emerged as prospective runner-ups, each with a 30% share of online purchases in 2011. Norwegians spent a total of EUR3 billion (US$4.2 billion) on a variety of products online in 2011. In January 2013, the countrys retail sales, excluding motor vehicles and petrol stations, recorded a monthly growth of 1.2% and an annual growth of 2.7%. Sales of furniture, domestic electric appliances and building materials contributed the most to the increase from December 2012 to January 2013. The major driving factor was consumer spending, which increased from NOK289.5 billion (US$49.8 billion) in the third quarter of 2012 to NOK290.3 billion (US$49.9 billion) in the fourth quarter of the same year.

Scope

This report provides a comprehensive analysis of Norways cards and payments industry

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

Reasons To Buy


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

Key Highlights


  • Norways cards and payments industry exhibited nominal growth during the review period (2008 - 2012), increasing at a CAGR of 3.97%, from 15.34 million cards in 2008 to 17.9 million cards in 2012. Over the forecast period, the industry is forecast to register further growth with a CAGR of 1.33%, rising from 18.3 million cards in 2013 to 19.3 million cards in 2017.
  • In Europe, both Norway and Iceland have the highest ranking in internet usage, followed by Sweden and Denmark. As of December 2012, the total number of internet users in Norway was recorded at 4.9 million people, an increase of 4.9% over 2011.
  • The younger generation is a considerable and growing target group in terms of card spending. Notably, in 2013, 1.2 million people fell under the age bracket of 10 - 29 years, representing 25.7% of the total Norways population.
  • DNB Nor ASA was the leading bank in terms of debit card issuance volume in 2011, accounting for 35.4% of the total volume of debit cards in 2011. Other key operatives in the category were Nordea and SpareBank 1 Nord-Norge, which accounted for industry shares of 8.0% and 2.1% respectively in 2011.
Table of Content

1 Executive Summary

2 Market Attractiveness and Future Prospects of Cards and Payments Industry

3 Analysis of Country Cards and Payments Industry Drivers
3.1 Infrastructure Drivers
3.1.1 Smart card readers and terminals for e-ticketing system
3.1.2 Increasing number of POS terminals
3.1.3 Rising number of internet users
3.2 Business Drivers
3.2.1 E-commerce market dynamics
3.2.2 Growing retail sales
3.2.3 Outbound tourism growth
3.3 Other Growth Drivers
3.3.1 Strong employment growth
3.3.2 Urban vs. rural population
3.3.3 Increasing consumer confidence
3.4 Card Fraud Statistics
3.5 Regulatory Framework
3.5.1 SEPA cards framework

4 Emerging Consumer Attitudes and Trends
4.1 Market Segmentation and Targeting
4.1.1 Retail customers
4.1.2 Corporate sector
4.2 Consumer Preference
4.2.1 Price
4.2.2 Service
4.2.3 Convenience
4.3 Preferred Payment Methods

5 Competitive Landscape and Industry Dynamics
5.1 Market Share Analysis by Payment Channels
5.1.1 Cash
5.1.2 Credit transfers
5.1.3 Direct debit
5.1.4 Card payments
5.1.5 Checks
5.2 Debit Card Market Share
5.3 Credit Card Market Share
5.3.1 By bank
5.3.2 By scheme
5.4 Charge Cards Market Share

6 Strategies Adopted by Key Players
6.1 Market Entry Strategies
6.1.1 Case study
6.2 Marketing/Product Strategies
6.2.1 Credit cards
6.3 Pricing Strategies

7 Market Size and Growth Potential of Payment Card 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 transaction volume
7.3 Debit Card Market Size and Forecast
7.3.1 Analysis by number of cards
7.3.2 Analysis by transaction value
7.3.3 Analysis by volume
7.3.4 Other key performance indicators
7.4 Prepaid Card Market Size and Forecast
7.4.1 Analysis by number of cards
7.4.2 Analysis by transaction value
7.5 Charge Card Market 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 Analysis by frequency of use
7.6 Credit Card Market Size and Forecast
7.6.1 Analysis by number of cards
7.6.2 Analysis by transaction value
7.6.3 Analysis by transaction volume
7.6.4 Other key performance indicators

8 Company Profiles, Products and Marketing Strategies
8.1 SpareBank 1SR-Bank
8.1.1 Strategies
8.1.2 Credit cards offered
8.2 Sparebanken Vest
8.2.1 Strategies
8.2.2 Debit cards offered
8.2.3 Credit cards offered
8.2.4 Prepaid card offered
8.3 BN Bank
8.3.1 Cards offered

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

List of Table


Table 1: Norwegian Payment Channels (NOK Million), 2008 and 2012
Table 2: Norwegian Cards Industry by Type of Card (Thousands), 2008 - 2017
Table 3: Norwegian Cards Industry Size by Volume (Thousands), 2008 - 2017
Table 4: Norwegian Cards Industry Size by Transaction Value (NOK Million), 2008 - 2017
Table 5: Norwegian Cards Industry Size by Transaction Value (US$ Million), 2008 - 2017
Table 6: Norwegian Cards Industry Size by Transaction Volume (Million), 2008 - 2017
Table 7: Norwegian Debit Card Category Size by Volume (Thousands), 2008 - 2017
Table 8: Norwegian Debit Card Category Size by Transaction Value (NOK Million), 2008 - 2017
Table 9: Norwegian Debit Card Category Size by Transaction Value (US$ Million), 2008 - 2017
Table 10: Norwegian Debit Card Category Size by Transaction Volume (Million), 2008 - 2017
Table 11: Norwegian Debit Card Category Size by Frequency of Use, 2008 - 2017
Table 12: Norwegian Prepaid Card Category Size by Volume (Thousands), 2008 - 2017
Table 13: Norwegian Prepaid Cards Category Size by Transaction Value (NOK Million), 2008 - 2017
Table 14: Norwegian Prepaid Cards Category Size by Transaction Value (US$ Million), 2008 - 2017
Table 15: Norwegian Charge Card Category Size by Volume (Thousands), 2008 - 2017
Table 16: Norwegian Charge Card Category Size by Transaction Value (NOK Million), 2008 - 2017
Table 17: Norwegian Charge Card Category Size by Transaction Value (US$ Million), 2008 - 2017
Table 18: Norwegian Charge Card Category Size by Transaction Volume (Million), 2008 - 2017
Table 19: Norwegian Charge Card Category Size by Frequency of Use, 2008 - 2017
Table 20: Norwegian Credit Card Category Size by Volume (Thousands), 2008 - 2017
Table 21: Norwegian Credit Card Category Size by Transaction Value (NOK Million), 2008 - 2017
Table 22: Norwegian Credit Card Category Size by Transaction Value (US$ Million), 2008 - 2017
Table 23: Norwegian Credit Card Category Size by Transaction Volume (Million), 2008 - 2017
Table 24: Norwegian Credit Card Category Size by Frequency of Use, 2008 - 2017
Table 25: Norwegian Credit Card Category Size by Average Transaction Value (NOK), 2008 - 2017
Table 26: Norwegian Credit Card Category Size by Average Transaction Value (US$), 2008 - 2017

List of Chart


Figure 1: Current and Future Prospects of Card Categories in Norway (%), 2008 - 2017
Figure 2: Growth Potential of Norways Cards and Payments Industry by Area of Usage
Figure 3: Norwegian Cards and Payments Industry Drivers
Figure 4: Number of POS Terminals in Norway (Thousands), 2008 - 2017
Figure 5: Number of Internet Users in Norway (Million), 2008 - 2012
Figure 6: Share of Internet Retailers in Norway (%), 2012
Figure 7: Revenues of Norges Gruppen ASA and Coop Norge SA (NOK Million), 2007 - 2011
Figure 8: Expenditure on Outbound Travel in Norway (NOK Billion), 2008 - 2012
Figure 9: Urban vs. Rural Population in Norway (Thousands), 2008 - 2012
Figure 10: Consumer Confidence Index Score, Q1 2012 - Q4 2012
Figure 11: Norwegian Card Fraud Statistics (NOK Million), 2008 - 2012
Figure 12: Consumer Preferences on Various Types of Cards
Figure 13: Share of Different Online Payment Options in Norway (%), 2012
Figure 14: Share of Payment Channels in Norway (%), 2008 and 2012
Figure 15: Value and Growth of Cash Transactions in Norway (NOK Million), 2008 - 2012
Figure 16: Value and Growth of Credit Transfers in Norway (NOK Million), 2008 - 2012
Figure 17: Value and Growth of Direct Debit in Norway (NOK Million), 2008 - 2012
Figure 18: Value and Growth of Card Payments in Norway (NOK Million), 2008 - 2012
Figure 19: Value and Growth of Check Payments in Norway (NOK Million), 2008 - 2012
Figure 20: Debit Card Market Share by Banks in Norway (%), 2011
Figure 21: Credit Card Market Share by Bank in Norway (%), 2011
Figure 22: Credit Card Market Share by Schemes in Norway (%), 2011
Figure 23: Charge Card Market Share by Schemes in Norway (%), 2011
Figure 24: Benefits Offered on First Card for Business Customers
Figure 25: SpareBanks Charges on LOfav

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