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

Published By :

Timetric

Published Date : Dec 2012

Category :

Banking

No. of Pages : 105 Pages

Synopsis

The report provides top-level market analysis, information and insights on Romania's cards and payments market, including:

  • Current and forecast values for each segment of Romania's 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 Romania's cards and payments market.
  • Detailed analysis of the marketing strategies adopted for selling 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 Romania's cards and payments market.
Summary

Romania has a developing upper-mid-sized economy which is the eleventh-largest in the European Union (EU) by total nominal GDP, and the eighth-largest based on purchasing power parity. During the review period (20082012), the Romanian cards and payments industry registered marginal growth, with a combined card volume CAGR of 1.45%. Romania was heavily affected by the global financial downturn and its GDP contracted by -2.6% in 2009, forcing the government to enact harsh austerity measures and borrow heavily from the IMF to reduce its budget deficit to 4.4% of GDP in 2011, and to 3% of GDP in 2012. While the budget deficit stood at 6.6% in 2010, below the IMF agreed target of 6.8%, the growth of e-commerce, increasing levels of per capita income, growth in the automotive industry and improved travel and tourism dynamics have facilitated the overall growth of the cards and payments industry. Forecasts predict recovery at a CAGR at 3.38% by the end of 2017.
Eastern Europes emerging consumer economies are prime targets for credit card growth, including domestic and foreign issuers, and Romania is no exception. Romanias economy has expanded at a steady rate following its accession to the EU in January 2007, due to the rapid rises in average monthly wages and consumer expenditure. Although Romanias cards and payments industry has only being in existence for around 10 years, with a corresponding lack of consumer awareness, many issuers are targeting the Romanian industry with a range of increasingly sophisticated card products, such as revolving credit.

Scope

  • This report provides a comprehensive analysis of Romania's cards and payments industry.
  • It provides current value for Romania's cards and payments market for the year 2012 and forecast figure for the year 2017.
  • It details the different macroeconomic, infrastructural, consumer and business drivers affecting Romania'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 Romania's cards and payments market.
Reasons To Buy

  • Make strategic business decisions using top-level historic and forecast market data related to Romania's cards and payments market and each market within it.
  • Understand the key market trends and growth opportunities within Romania's cards and payments market.
  • Assess the competitive dynamics in Romania's cards and payments market.
  • Gain insights in to the marketing strategies used for selling various types of cards in Romania's market.
  • Gain insights into key regulations governing Romania's cards and payment market.
Key Highlights

  • The Romanian cards and payments industry grew substantially both in volume and value terms during the review period. In terms of number of transactions, it grew marginally from 267.0 million transactions in 2008 to 364.8 million in 2012, at a CAGR of 8.12%.
  • Debit card transactions remained the key growth driver, followed by charge cards. Over the forecast period, the total transaction volume is expected to grow at a CAGR of 4.52% to reach 466.7 million transactions by the end of 2017
  • As banking customers become more sophisticated, banks need to differentiate their product offerings, and card customization is gaining more attention. Other services include internet banking, or serving niche segments such as students or high-end, affluent customers
  • The central bank has issued various regulatory reforms citing the increased credit card and internet fraud statistics in Romania. The country also has some of the highest rates of cybercrime and online credit card fraud in the world.
Table Of Contents

3.1.5 Growing number of ATMs
3.1.6 Growing number of POS
3.2 Business Drivers
3.2.1 E-commerce dynamics
3.2.2 Travel and tourism dynamics
3.3 Economic fundamentals
3.3.1 GDP growth rate
3.3.2 Unemployment rate
3.3.3 Monetary policy rate
3.3.4 Inflation rate
3.4 Consumer Drivers
3.4.1 Consumer confidence indicator
3.4.2 Annual disposable income
3.4.3 Consumer lifestyles and spending habits
3.5 Card Fraud Statistics
3.6 Regulatory Framework

4 Emerging Consumer Attitudes and Trends
4.1 Industry Segmentation and Targeting
4.2 Retail Segment
4.2.1 Students and the younger population
4.2.2 Cards targeted at travel and tourism
4.2.3 Shopping cards targeting retail segment
4.2.4 Targeting Romanias ultra high net-worth individuals (UHNWIs) population
4.3 Corporate Sector
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 Behaviour
4.6 Preferred Payment Methods

5 Competitive Landscape and Industry Dynamics
5.1 Market Share Analysis by Payment 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
5.2.1 By bank
5.2.2 By scheme
5.3 Credit Cards
5.3.1 By bank
5.3.2 By scheme
5.4 Charge Cards

6 Strategies Adopted by Key Operators
6.1 Entry Strategies
6.2 Marketing and Product Strategies
6.2.1 Marketing strategies for debit cards
6.2.2 Marketing strategies for credit cards
6.2.3 Marketing strategies for prepaid cards
6.3 Pricing Strategies

7 Market Size and Growth Potential of the 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 by transaction volume
7.3 Debit Card 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 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 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, Product, and Marketing Strategies
8.1 Romanian Commercial Bank(BCR)
8.1.1 Strategies
8.1.2 Credit cards offered and features
8.1.3 Debit cards offered with features
8.2 BRD Groupe Soci

List of Table

Table 1: Romanian Payment Channels (RON Million), 2008 and 2012
Table 2: Romanian Cards Industry by Type of Card (Thousands), 20082017
Table 3: Romanian Cards Industry Size by Volume (Thousands), 20082017
Table 4: Romanian Cards Industry Size by Transaction Value (RON Million), 20082017
Table 5: Romanian Cards Industry Size by Transaction Value (US$ Million), 20082017
Table 6: Romanian Cards Industry Size by Transaction Volume (Million), 20082017
Table 7: Romanian Debit Card Category Size (Thousands), 20082017
Table 8: Romanian Debit Card Category Size (RON Million), 20082017
Table 9: Romanian Debit Card Category Size (US$ Million), 20082017
Table 10: Romanian Debit Card Category Size by Transaction Volume (Million), 20082017
Table 11: Romanian Debit Card Category Size by Frequency of Use (Transactions/Card/Year), 20082017
Table 12: Romanian Prepaid Card Category Size (Thousands), 20082017
Table 13: Romanian Open-Loop Prepaid Cards Segment Size (Thousands), 20082017
Table 14: Romanian Closed-Loop Prepaid Cards Segment Size (Thousands), 20082017
Table 15: Romanian Prepaid Cards Category Size (RON Million), 20082017
Table 16: Romanian Prepaid Cards Category Size (US$ Million), 20082017
Table 17: Romanian Charge Card Category Size (Thousands), 20082017
Table 18: Romanian Charge Card Category Size (RON Million), 20082017
Table 19: Romanian Charge Card Category Size (US$ Million), 20082017
Table 20: Romanian Charge Card Category Size by Transaction Volume (Million), 20082017
Table 21: Romanian Charge Card Category Size by Frequency of Use (Transactions/Card/Year), 20082017
Table 22: Romanian Credit Card Category Size by Volume (Thousands), 20082017
Table 23: Romanian Credit Card Category Size by Transaction Value (RON Million), 20082017
Table 24: Romanian Credit Card Category Size by Transaction Value (US$ Million), 20082017
Table 25: Romanian Credit Card Category Size by Transaction Volume (Million), 20082017
Table 26: Romanian Credit Card Category Size by Frequency of Use, 20082017
Table 27: Romanian Credit Card Category Size by Average Transaction Value (RON), 20082017
Table 28: Romanian Credit Card Category Size by Average Transaction Value (US$), 20082017
Table 29: Key Definitions

List of Chart

Figure 1: Current and Future Prospects of Various Cards in Romania
Figure 2: Growth Potential of the Romania Cards and Payments Industry by Area of Use
Figure 3: Romanian Cards and Payments Industry Drivers
Figure 4: Mobile Phone Subscriptions (Million), 20082012
Figure 5: Smartphone Penetration (%), 20082012
Figure 6: Internet Users (Million), 2008 - 2017
Figure 7: Number of ATMs in Romania (Thousands), 20082017
Figure 8: Number of POS Terminals in Romania (Thousands), 20082017
Figure 9: Online Retail in Romania (RON Billion) 20082017
Figure 10: Regional Internet Penetration (%), 2012
Figure 11: Domestic and Outbound Expenditure on Travel and Tourism in Romania (RON Billion) 2008-2012
Figure 12: GDP Growth Rate (%), Q1 2010 Q2 2012
Figure 13: Total Unemployment Rate (%), 20102012
Figure 14: Romanian Policy Rate (%), August 2009March 2012
Figure 15: Romanian Inflation (Annual Change of CPI) (%), 20082017
Figure 16: Romanian Consumer Confidence Indicator (%), 20082011
Figure 17: Annual Disposable Income (RON Billion), 20082017
Figure 18: Romanian Card Fraud (RON Thousands), 20082012
Figure 19: Current and Future Prospects of Various Cards in Romania
Figure 20: Comparison of Age between Young Population and Others (%), 2012
Figure 21: Students Cards offered in Romania
Figure 22: Romanias Total Expenditure on Travel and Tourism (RON Billion) 20072012
Figure 23: Cards Offered to Romanian Outbound Leisure Tourists
Figure 24: Romanian Purchase Cards Offered
Figure 25: Cards offered to Romanias High Net Worth Individuals
Figure 26: Corporate Cards Offered in Romania
Figure 27: Romanian Consumer Preferences for Various Types of Card
Figure 28: E-Commerce users in Romania (% of internet users), 2012
Figure 29: Retail Websites for Online Purchases in Romania
Figure 30: Top Five Social Networks in Romania by Volume of Unique Visitors (Million), 2012
Figure 31: Shares of Online Payment Options in Romania (%), 2011
Figure 32: Shares of Payment Channels in Romania (%), 2012
Figure 33: Romanian Credit Transfers (RON Million), 20082012
Figure 34: Romanian Direct Debit (RON Million), 20082012
Figure 35: Romanian Card Payments (RON Million), 20082012
Figure 36: Romanian Check Payments (RON Million), 20082012
Figure 37: Romanian Debit Cards by Issuing Bank (%), 2011
Figure 38: Romanian Debit Card Market Shares by Scheme (%), 2011
Figure 39: Romanian Credit Card Shares by Bank (%), 2011
Figure 40: Romanian Credit Card Market Share by Schemes (%), 2011
Figure 41: Romanian Charge Card Shares by Scheme (%), 2011
Figure 42: Market Share of Banking Industry in Romania (%), 20072011
Figure 43: Market Entry Strategies of Foreign Banks in Romania, 2011
Figure 44: Romania Marketing Strategies Based on Card Type
Figure 45: Romanian Cards and Payments Industry, Number of Debit Cards Offered (Thousands), 20082017
Figure 46: Credit Cards Offered for Businesses in Romania
Figure 47: Debit Card Pricing Strategies of Various Service Providers
Figure 48: Credit Card Pricing Strategies of Various Service Providers
Figure 49: Romanian Cards Industry by Type of Card (%), 20082017
Figure 50: Romanian Cards Industry Size by Volume (Thousands), 20082017
Figure 51: Romanian Cards Industry Size by Transaction Value (RON Million), 20082017
Figure 52: Romanian Cards Industry Size by Transaction Volume (Million), 20082017
Figure 53: Romanian Debit Card Category Size (Thousands), 20082017
Figure 54: Romanian Debit Card Category Size (RON Million), 20082017
Figure 55: Romanian Debit Card Category Size by Transaction Volume (Million), 20082017
Figure 56: Romanian Debit Card Category Size by Frequency of Use (Transactions/Card/Year), 20082017
Figure 57: Debit Card Use at ATMs and POS Terminals (Million), 20082017
Figure 58: Romanian Prepaid Card Category Size (Thousands), 20082017
Figure 59: Romanian Open-Loop Prepaid Cards Segment Size (Thousands), 20082017
Figure 60: Romanian Closed-Loop Prepaid Cards Segment Size (Thousands), 20082017
Figure 61: Romanian Prepaid Cards Category Size (RON Million), 20082017
Figure 62: Romanian Charge Card Category Size (Thousands), 20082017
Figure 63: Romanian Charge Card Category Size (RON Million), 20082017
Figure 64: Romanian Charge Card Category Size by Transaction Volume (Million), 20082017
Figure 65: Romanian Charge Card Category Size by Frequency of Use (Transactions/Card/Year), 20082017
Figure 66: Romanian Credit Card Category Size by Volume (Thousands), 20082017
Figure 67: Romanian Credit Card Category Size by Transaction Value (RON Million), 20082017
Figure 68: Romanian Credit Card Category Size by Transaction Volume (Million), 20082017
Figure 69: Romanian Credit Card Category Size by Frequency of Use, 20082017
Figure 70: Romanian Credit Card Category Size by Average Transaction Value (RON), 20082017
Figure 71: BCR Market Segmentation of Cards Offered
Figure 72: BRD Market Segmentation of Cards Offered
Figure 73: Unicredit Tiriac Bank Market Segmentation of Cards Offered

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