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

Published By :

Timetric

Published Date : Mar 2013

Category :

Banking

No. of Pages : 84 Pages

Synopsis

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

  • Current and forecast values for each category of Thailand’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 Thailand’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 Thailand’s cards and payments industry
Summary

Thailand is an export-driven economy. Indeed, exports accounted for more than half of the nation’s GDP in 2011. The increasingly diversified manufacturing sector is one of the largest contributors to growth, followed by the travel tourism sector which accounted for approximately 6% of the country’s GDP in 2011. The card industry as a whole grew at a CAGR of 15.77% during the review period and is expected to post a CAGR of 5.96% over the forecast period. 

The growth was mainly driven by the prepaid card category, which recorded a CAGR of 28.84%, followed by the debit cards category which grew at a CAGR of 12.69%, and the charge and credit cards categories which grew at respective CAGRs of 7.02% and 5.91%. In volume terms, the industry grew at a CAGR of 15.77% during the review period, from 51.5 million cards in circulation in 2008 to 92.5 million cards in 2012. In value terms, the industry grew at a CAGR of 14.85% during the review period, from THB3.8 trillion (US$128.9 trillion) in 2008 to THB6.7 trillion (US$207.2 trillion) in 2012.

Scope

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

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

  • The Thai cards and payments industry is expected to register a CAGR of 5.96% over the forecast period to reach 127.4 million cards by the end of 2017. Prepaid cards gained momentum during the review period and recorded a high adoption rate. 
  • The emergence of near-field communication (NFC) payment technology, EMV cards and digital wallets have enhanced the ways in which consumers transact. M-commerce has been enhanced by the increase in smartphone usage in Thailand. The capabilities of smartphone devices, an exponential rise in mobile device apps and declining prices have been instrumental in driving m-commerce.
  • The IMF expects the economy to stabilize and record a 7.6% growth in GDP in 2017. With the growth of the Thai economy expected to accelerate over the forecast period, further investment can be expected in the cards and payments industry.
  • Consumer attitudes and preferences play a key role in the success of a product in any industry. Large domestic and foreign banks are making a concerted effort to segment the industry and target the most profitable segments.
Table of Content

1 Executive Summary

2 Market Attractiveness and Future Prospects of Cards and Payments Industry
2.1.1 Imaged check clearing system by Clear2Pay
2.1.2 Mobile POS for card transactions

3 Analysis of Thailand Cards and Payments Industry Drivers
3.1 Infrastructure Drivers
3.1.1 True Money mobile payment solutions
3.1.2 M-Pesa
3.1.3 Smart Purse
3.1.4 EMV Cards
3.1.5 NFC and contactless payments
3.1.6 Growing number of ATMs
3.1.7 Growing number of POSs
3.2 Business Drivers
3.2.1 Retail sector
3.2.2 Growth in E-commerce
3.2.3 Growing mobile commerce
3.2.4 Outbound business and leisure travel and tourism
3.3 Other Growth Drivers
3.3.1 GDP growth
3.3.2 Inflation rate
3.3.3 Consumer Confidence Index
3.4 Card Fraud Statistics
3.5 Regulatory Framework
3.5.1 Regulation on credit cards
3.5.2 Regulations in credit card for foreigners
3.5.3 Policy responses relating to internet and mobile payments
3.5.4 Restructuring of payment systems fees and charges

4 Emerging Consumer Attitudes and Trends
4.1 Market Segmentation and Targeting
4.2 Retail Segment
4.2.1 Targeting high net worth individuals (HNWIs)
4.2.2 Cards targeted at outbound leisure tourists
4.2.3 Cards targeted towards niche segments
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 Behaviour
4.6 Preferred Payments 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 Credit transfers
5.1.3 Direct debit
5.1.4 Cards payments
5.1.5 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 Market Entry Strategies
6.2 Marketing / Product Strategy
6.2.1 Credit cards
6.2.2 Debit cards
6.2.3 Prepaid cards
6.3 Pricing Strategies
6.3.1 Comparison between the credit cards pricing strategy of Bangkok Bank and Krungsri Bank
6.3.2 Comparison between the pricing strategy of Bangkok Bank and Krungsri Bank

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 the 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 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 Card Category Size and Forecast
7.4.1 Analysis by segments – open and closed-loop cards
7.4.2 Analysis by transaction value
7.5 Charge Card 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 Card Category 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 Bangkok Bank
8.1.1 Strategies
8.1.2 Bangkok Bank key financials
8.2 Krungthai Bank
8.2.1 Strategies
8.2.2 Krungthai Bank key financials
8.3 Krungsri Bank
8.3.1 Strategies
8.3.2 Krungsri Bank key financials

9 Appendix
9.1 Methodology
9.2 Contact Us
9.3 About Timetric
9.3.1 Timetric’s approach
9.4 Services
9.5 Disclaimer
9.5.1 Our approach
9.6 Services
9.7 Disclaimer

List of Table


Table 1: Thai Payment Channels (THB Million), 2008–2012
Table 2: Thai Cards Industry by Type of Card (Thousands), 2008–2017
Table 3: Thai Cards Industry Size by Volume (Thousands), 2008–2017
Table 4: Thai Cards Industry Size by Transaction Value (THB Million), 2008–2017
Table 5: Thai Cards Industry Size by Transaction Value (US$ Million), 2008–2017
Table 6: Thai Cards Industry Size by Transaction Volume (Million), 2008–2017
Table 7: Thai Debit Card Category Size (Thousands), 2008–2017
Table 8: Thai Debit Card Category Size (THB Million), 2008–2017
Table 9: Thai Debit Card Category Size (US$ Million), 2008–2017
Table 10: Thai Debit Card Category Size by Transaction Volume (Million), 2008–2017
Table 11: Thai Card Category Size by Frequency of Use (Annual Transactions Per Card ), 2008–2017
Table 12: Thai Prepaid Card Category Size (Thousands), 2008–2017
Table 13: Thai Open-Loop Prepaid Cards Category Size (Thousands), 2008–2017
Table 14: Thai Closed-Loop Prepaid Cards Category Size (Thousands), 2008–2017
Table 15: Thai Prepaid Cards Category Size (THB Million), 2008–2017
Table 16: Thai Prepaid Cards Category Size (US$ Million), 2008–2017
Table 17: Thai Charge Card Category Size (Thousands), 2008–2017
Table 18: Thai Charge Card Category Size (THB Million), 2008–2017
Table 19: Thai Charge Card Category Size (US$ Million), 2008–2017
Table 20: Thai Charge Card Category Size by Transaction Volume (Million), 2008–2017
Table 21: Thai Charge Card Category Size by Frequency of Use (Annual Transactions Per Card), 2008–2017
Table 22: Thai Credit Card Category Size by Volume (Thousands), 2008–2017
Table 23: Thai Credit Card Category Size by Transaction Value (THB Million), 2008–2017
Table 24: Thai Credit Card Category Size by Transaction Value (US$ Million), 2008–2017
Table 25: Thai Credit Card Category Size by Transaction Volume (Million), 2008–2017
Table 26: Thai Credit Card Category Size by Frequency of Use (Annual Transactions Per Card), 2008–2017
Table 27: Thai Credit Card Category Size by Average Transaction Value (THB), 2008–2017
Table 28: Thai Credit Card Category Size by Average Transaction Value (US$), 2008–2017
Table 29: Bangkok Bank Key Financial Indicators, 2010–2011
Table 30: Krungthai Bank Key Financial Indicators, 2010–2011
Table 31: Krungsri Bank Key Financial Indicators, 2010–2011

List of Chart


Figure 1: Growth of Payment Cards, Review Period (2008–2012) and Forecast Period (2013–2017) in Thailand
Figure 2: Growth Potential of Thailand Cards and Payments Industry by Area of Use
Figure 3: Thailand Cards and Payments Industry Drivers
Figure 4: Number of ATMs in Thailand(Thousands), 2008−2017
Figure 5: Number of POS Terminals in Thailand (Thousands), 2008−2017
Figure 6: Retail Sales Index in Thailand (%), 2011−2012
Figure 7: Proportion of Purchases made on Smartphones in Thailand Per Month (%), 2011
Figure 8: Outbound Expenditure on Travel and Tourism (THB Billion), 2008–2012
Figure 9: GDP Growth Rate (%), 2008–2017
Figure 10: Thailand Inflation (%), 2008–2017
Figure 11: Consumer Confidence Index, 2011−2013
Figure 12: Thailand Card Fraud Statistics (THB Million), 2008–2012
Figure 13: Restructuring of Fees and Charges by the Thai Banker’s Association and the Central Bank
Figure 14: Thai Cards and Payments Industry Segmentation by Card Type
Figure 15: Total HNWIs Population, 2012
Figure 16: Cards for Premium Customers in Thailand
Figure 17: Travel and Tourism Cards in Thailand
Figure 18: Corporate Cards Offered in Thailand
Figure 19: Consumer Preferences According to Type of Card
Figure 20: Type of Goods or Services Purchased Online, 2010
Figure 21:  Expenditure on Goods and Services Purchased Online, Per Individual,  2010
Figure 22: Share of Different Online Payment Options in Thailand (%), 2010
Figure 23: Shares of Payment Channels in Thailand (%), 2012
Figure 24: Thai Credit Transfers (THB Million), 2008–2012
Figure 25: Thai Direct Debits (THB Million), 2008–2012
Figure 26: Thai Cards Payments (THB Million), 2008–2012
Figure 27: Thai Check Payments (THB Million), 2008–2012
Figure 28: Thai Debit Cards by Issuing Banks (%), 2011
Figure 29: Thai Debit Card Category Share by Scheme (%), 2011
Figure 30: Thai Credit Card Category Shares by Bank (%), 2011
Figure 31: Thai Credit Card Category Shares by Scheme (%), 2011
Figure 32: Thai Charge Card Category Shares by Scheme (%), 2011
Figure 33: Market Entry Strategies of Foreign Banks in Thailand, 2012
Figure 34: Thailand Marketing Strategies Based on Card Type
Figure 35: Benefits Offered by Krungsri Bank
Figure 36: Type of Business Credit Cards Offered by Banks in Thailand
Figure 37: Credit Card Pricing Strategies of Various Service Providers
Figure 38: Debit Card Pricing Strategies of Various Service Providers
Figure 39: Thai Cards Industry by Type of Card (%), 2008–2017
Figure 40: Thai Cards Industry Size by Volume (Thousands), 2008–2017
Figure 41: Thai Cards Industry Size by Transaction Value (THB Million), 2008–2017
Figure 42: Thai Cards Industry Size by Transaction Volume (Million), 2008–2017
Figure 43: Thai Debit Card Category Size (Thousands), 2008–2017
Figure 44: Thai Debit Card Category Size (THB Million), 2008–2017
Figure 45: Thai Debit Card Category Size by Transaction Volume (Million), 2008–2017
Figure 46: Thai Card Category Size by Frequency of Use (Annual Transactions Per Card), 2008–2017
Figure 47: Debit Card Use at ATMs and POS Terminals (Thousands), 2008–2017
Figure 48: Thai Prepaid Card Category Size (Thousands), 2008–2017
Figure 49: Thai Open-Loop Prepaid Cards Category Size (Thousands), 2008–2017
Figure 50: Thai Closed-Loop Prepaid Cards Category Size (Thousands), 2008–2017
Figure 51: Thai Prepaid Cards Category Size (THB Million), 2008–2017
Figure 52: Thai Charge Card Category Size (Thousands), 2008–2017
Figure 53: Thai Charge Card Category Size (THB Million), 2008–2017
Figure 54: Thai Charge Card Category Size by Transaction Volume (Million), 2008–2017
Figure 55: Thai Charge Card Category Size by Frequency of Use (Annual Transactions Per Card),     2008–2017
Figure 56: Thai Credit Card Category Size by Volume (Thousands), 2008–2017
Figure 57: Thai Credit Card Category Size by Transaction Value (THB Million), 2008–2017
Figure 58: Thai Credit Card Category Size by Transaction Volume (Million), 2008–2017
Figure 59: Thai Credit Card Category Size by Frequency of Use, 2008–2017
Figure 60: Thai Credit Card Category Size by Average Transaction Value (THB), 2008–2017
Figure 61: Cards Offered by Bangkok Bank
Figure 62: Cards Offered by Krungthai Bank
Figure 63: Cards Offered by Krungsri Bank
Figure 64: Benefits Offered by Krungsri Bank on Central Credit Card

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