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

Timetric
Published Date » 2013-02-27
No. Of Pages » 74
Synopsis

The report provides market analysis, information and insights into Vietnams cards and payments market, including:
  • Current and forecast values for each category of Vietnams 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 Vietnams 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 Vietnams cards and payments industry
Summary

With a significant young population, changing spending patterns, advancements in e-banking services, and the emerging trend of online shopping, Vietnam has ample opportunities for card service providers. Vietnams GDP recorded a growth rate of 5.4% in the third quarter of 2012, after an expansion of 4.7% in the second quarter and 4% in the first quarter. The countrys GDP growth declined from 5.9% in 2011 to 5.0% in 2012, below the expected goals of 5.2% and 5.5% set by the government. One of the main reasons for GDP decline in 2012 in comparison with 2011 was the credit congestion situation which resulted in a strong decline in social investment capital and aggregate demand. 

In response to this, the government has taken steps to increase economic growth. In December 2012, the central bank lowered the minimum lending rate to 12%, and in September 2012 the government reduced corporate tax by 30% for small and medium enterprises (SMEs), except those operating in the lottery, real estate and securities sectors, and producers of goods that are subject to luxury taxes.

The credit cards category recorded the highest growth rate of all card categories with a CAGR of 56.29% during the review period, growing from 228,700 cards in 2008 to 1.4 million cards in 2012. During the forecast period, this category is expected to register a strong CAGR of 23.16%, rising from 1.9 million cards in 2013 to 4.4 million cards in 2017. In 2012, the debit card category held the highest market share of 95.7% in terms of number of cards in circulation, followed by the credit card category with a market share of 2.8%. The prepaid cards category held the lowest market share of 1.5% in 2012.

Scope

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

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

  • Vietnams card market witnessed strong growth during the review period (2008-2012). The overall cards industry recorded an impressive CAGR of 37.05%, rising from 14.0 million cards in 2008 to 49.4 million cards in 2012. Over the forecast period, the cards industry is forecast to grow at a CAGR of 10.79% from 57.3 million cards in 2013 to 86.4 million cards in 2017.
  • The credit cards category recorded the highest growth rate of all card categories with a CAGR of 56.29% during the review period, growing from 228,700 cards in 2008 to 1.4 million cards in 2012. During the forecast period, this category is expected to register a strong CAGR of 23.16%, rising from 1.9 million cards in 2013 to 4.4 million cards in 2017.
  • In Vietnam, the number of smartphone users increased from 16% of total mobile users in 2011 to 21% in 2012. Units of smartphones shipped to Vietnam recorded a year on year growth rate of 83% in 2012.
  • In December 2011, the banking penetration for basic retail banking products was 20%. Nearly 14% of transactions in the country were non-cash based. Notably, this is less than half the level seen in Indonesia and the Philippines, and roughly one third of the level in India, China, Thailand and Malaysia.
Table of Content

1 Executive Summary

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

3 Analysis of Country Cards and Payments Industry Drivers
3.1 Macroeconomic Fundamentals
3.1.1 Gross domestic product (GDP) growth
3.1.2 Decreasing inflationary pressure
3.2 Infrastructure Drivers
3.2.1 Increasing number of smartphone users
3.2.2 Growing number of ATMs
3.2.3 Cards with enhanced security measures
3.2.4 Rising internet penetration
3.2.5 Increasing number of POS terminals
3.3 Business Drivers
3.3.1 E-commerce market growth
3.3.2 Retail sales
3.3.3 Connection of POS terminals network
3.3.4 Lower banking penetration
3.4 Consumer Drivers
3.4.1 Changing lifestyles and spending habits
3.4.2 Urban vs. rural population
3.5 Card Fraud Statistics
3.5.1 Card fraud by channel
3.6 Regulatory Framework
3.6.1 Money laundering

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 Online Buying Behaviour

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
5.1.3 Direct debit
5.1.4 Card payments
5.2 Debit Cards Market Share
5.2.1 By bank
5.2.2 By scheme
5.3 Credit Cards Market Share
5.3.1 By bank
5.3.2 By scheme

6 Strategies Adopted by Key Players
6.1 Market Entry Strategies
6.1.1 Case studies
6.2 Marketing/Product Strategy
6.2.1 Debit cards
6.2.2 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 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 Card Category Size and Forecast
7.4.1 Number of cards by segment
7.4.2 Analysis by transaction value
7.5 Credit 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 Other key performance indicators

8 Company Profiles, Product and Marketing Strategies
8.1 Citibank Vietnam
8.1.1 Strategies
8.1.2 Credit cards offered
8.2 HSBC Bank (Vietnam) Ltd.
8.2.1 Strategies
8.2.2 Debit cards offered
8.2.3 Credit cards offered
8.3 AgriBank
8.3.1 Strategies
8.3.2 Debit cards offered
8.3.3 Credit cards offered

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

List of Tables


Table 1: Value of Vietnamese Payment Channels (VND Million), 2008 and 2012
Table 2: Volume of Cards by Type (Number in Thousands), 20082017
Table 3: Vietnam Cards Industry Size by Volume of Cards Issued (Thousands), 20082017
Table 4: Vietnam Cards Industry Size by Transaction Value (VND Billion), 20082017
Table 5: Vietnam Cards Industry Size by Transaction Value (US$ Million), 20082017
Table 6: Vietnam Cards Industry Size by Transaction Volume (Million), 20082017
Table 7: Vietnam Debit Card Category Size by Volume of Cards in Issue (Thousands), 20082017
Table 8: Vietnam Debit Card Category Size by Transaction Value (VND Billion), 20082017
Table 9: Vietnam Debit Card Category Size by Transaction Value (US$ Million), 20082017
Table 10: Vietnam Debit Card Category Size by Transaction Volume (Million), 20082017
Table 11: Vietnam Debit Card Category Size by Frequency of Use, 20082017
Table 12: Vietnam Prepaid Card Category Size by Volume of Cards in Issue (Thousands), 20082017
Table 13: Open-Loop Prepaid Cards Segment Size by Volume of Cards in Issue(Thousands),
Table 14: Closed-Loop Prepaid Cards Segment Size by Volume of Cards in Issue (Thousands),
Table 15: Vietnam Prepaid Cards Category Size by Transaction Value (VND Million), 20082017
Table 16: Vietnam Prepaid Cards Category Size by Transaction Value (US$ Million), 20082017
Table 17: Vietnam Credit Card Category Size by Volume of Cards in Issue (Thousands), 20082017
Table 18: Vietnam Credit Card Category Size by Transaction Value (VND Billion), 20082017
Table 19: Vietnam Credit Card Category Size by Transaction Value (US$ Million), 20082017
Table 20: Vietnam Credit Card Category Size by Transaction Volume (Million), 20082017
Table 21: Vietnam Credit Card Category Size by Frequency of Use, 20082017
Table 22: Vietnam Credit Card Category Size by Average Transaction Value (VND), 20082017
Table 23: Vietnam Credit Card Category Size by Average Transaction Value (US$), 20082017
Table 24: Cards and Payments Key Definitions

List of Figures


Figure 1: Current and Future Prospects Card Categories in Vietnam
Figure 2: Growth Potential of Vietnams Cards and Payments Industry by Area of Usage
Figure 3: Vietnams Cards and Payments Industry Drivers
Figure 4: Vietnam GDP Growth Rate (%), 2012-2017
Figure 5: Vietnam Inflation Growth Rate (%), 2008-2017
Figure 6: Number of ATMs in Vietnam (Thousands), 2008-2017
Figure 7: Snapshot of Vietcombank JCB EMV Chip Credit Card
Figure 8: Snapshot of Mekong Development Banks Biometric ATM
Figure 9: Number of Internet Users in Vietnam (Million), 2008-2012
Figure 10: Internet Penetration in Vietnam (%), 2008-2012
Figure 11: Number of POS terminals in Vietnam (Thousands), 2008-2017
Figure 12: Banking Penetration in Asia-Pacific, 2011
Figure 13: Urban Vs. Rural Population in Vietnam (Million), 2008-2017
Figure 14: Vietnams Card Fraud Statistics (VND Million), 2008-2012
Figure 15: Credit Line and Transaction Limits on Corporate Cards by Agribank
Figure 16: Consumer Preferences on Various Types of Cards
Figure 17: Snapshot of the Mekong Development Banks Biometric Debit Card
Figure 18: Unique Visitors hits to Retail Shopping Websites in Asia-Pacific, 2010
Figure 19: Market Share by Payment Channel in Vietnam (%), 2008 And 2012
Figure 20: Value of Cash Transactions in Vietnam (VND Million), 20082012
Figure 21: Value of Direct Debit Transactions in Vietnam (VND Million), 20082012
Figure 22: Value of Card Payment Transactions in Vietnam (VND Million), 20082012
Figure 23: Volume of Debit Cards in Circulation by Bank (%), 2011
Figure 24: Debit Card Market Share by Scheme (%), 2011
Figure 25: Volume of Credit Cards in Circulation by Bank (%), 2011
Figure 26: Credit Card Market Share by Scheme (%), 2011
Figure 27: Foreign Banks Operating in Vietnam
Figure 28: Privilege Club Program for Debit Cardholders by HSBC
Figure 29: Fees Information of Credit Cards Offered by TechcomBank
Figure 30: Volume of Cards by Type of Card (%), 20082017
Figure 31: Vietnam Cards Industry Size by Volume of Cards in Issue (Thousands), 20082017
Figure 32: Vietnam Cards Industry Size by Transaction Value (VND Million), 20082017
Figure 33: Vietnam Cards Industry Size by Transaction Volume (Million), 20082017
Figure 34: Vietnam Debit Card Category Size by Volume of Cards in Issue (Thousands), 20082017
Figure 35: Vietnam Debit Card Category Size by Transaction Value (VND Million), 20082017
Figure 36: Vietnam Debit Card Category Size by Transaction Volume (Million), 20082017
Figure 37: Vietnam Debit Card Category Size by Frequency of Use, 20082017
Figure 38: Volume of Debit Card Transactions at ATMs and POS Terminals (Million), 20082017
Figure 39: Vietnam Prepaid Card Category Size by Volume of Cards in Issue (Thousands), 20082017
Figure 40: Open-Loop Prepaid Cards Segment Size by Volume of Cards in Issue (Thousands),
Figure 41: Closed-Loop Prepaid Cards Segment Size by Volume of Cards in Issue (Thousands), 20082017
Figure 42: Vietnam Prepaid Cards Category Size by Transaction Value (VND Million), 20082017
Figure 43: Vietnam Credit Card Category Size by Volume of Cards in Issue (Thousands), 20082017
Figure 44: Vietnam Credit Card Category Size by Transaction Value (VND Million), 20082017
Figure 45: Vietnam Credit Card Category Size by Transaction Volume (Million), 20082017
Figure 46: Vietnam Credit Card Category Size by Frequency of Use, 20082017
Figure 47: Vietnam Credit Card Category Size by Average Transaction Value (VND), 20082017
Figure 48: Citibank Vietnam Credit Cards Offered
Figure 49: HSBC Banks Market Segmentation of Cards Offered
Figure 50: Promotions and Privileges for Credit Cardholders by HSBC in Vietnam
Figure 51: Cards Offered by AgriBank
Figure 52: Transaction Limit and Credit Line of Credit Cards Offered by AgriBank

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