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The Cards and Payments Industry in Bulgaria: Emerging Trends and Opportunities to 2020

Published By :

Timetric

Published Date : Nov 2016

Category :

Cards & Payments

No. of Pages : 45 Pages

Synopsis
Timetrics 'The Cards and Payments Industry in Bulgaria: Emerging Trends and Opportunities to 2020' report provides detailed analysis of market trends in the Bulgarian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash transactions, credit transfers, direct debits and payment cards during the review period (20112015).

The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, and transaction values and volumes during the review period and over the forecast period (20162020). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.

The report brings together Timetrics research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in the regulatory structure.

Summary
Timetrics 'The Cards and Payments Industry in Bulgaria: Emerging Trends and Opportunities to 2020' report provides top-level market analysis, information and insights into the Bulgarian cards and payments industry, including:

Current and forecast values for each market in the Bulgarian cards and payments industry, including debit and credit cards.

Detailed insights into payment instruments including cash transactions, credit transfers, direct debits and payment cards. It also, includes an overview of the country's key alternative payment instruments.

E-commerce market analysis.

Analysis of various market drivers and regulations governing the Bulgarian cards and payments industry.

Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.

Comprehensive analysis of consumer attitudes and buying preferences for cards.

The competitive landscape in Bulgarian cards and payments industry.

Scope
This report provides a comprehensive analysis of the Bulgarian cards and payments industry.

It provides current values for the Bulgarian cards and payments industry for 2015, and forecast figures to 2020.

It details the different demographic, economic, infrastructural and business drivers affecting the Bulgarian cards and payments industry.

It outlines the current regulatory framework in the industry.

It details marketing strategies used by various banks and other institutions.

Reasons To Buy
Make strategic business decisions, using top-level historic and forecast market data, related to the Bulgarian cards and payments industry and each market within it.

Understand the key market trends and growth opportunities in the Bulgarian cards and payments industry.

Assess the competitive dynamics in the Bulgarian cards and payments industry.

Gain insights into marketing strategies used for various card types in Bulgaria.

Gain insights into key regulations governing the Bulgarian cards and payments industry.

Key Highlights
The Bulgarian National Bank (BNB), the central bank of Bulgaria, implemented the EU rule on interchange fees in 2014, capping the interchange fees for credit and debit cards at 0.3% and 0.2% respectively. As a result, merchants are expected to benefit from lower transaction costs. The regulation is anticipated to impact profitability in the Bulgarian payment cards market. With a reduction in revenue, issuers are likely to cut card offerings and benefits for consumers, and look at new ways to generate revenue.

Contactless technology is gaining traction in Bulgaria, with leading banks such as Unicredit Bulbank, DSK Bank, UBB, Fibank and Raiffeisenbank now offering contactless cards in the country. By the end of 2015, Unicredit Bulbank had issued 500,000 contactless cards. Of the 20,000 POS terminal installations by the bank, 12,000 were enabled with contactless functionality. In 2015, the bank equipped six Sofia Metropolitan stations with 10 unattended ticketing machines, all enabled for contactless payments. The rising adoption of contactless technology is anticipated to drive payment card transaction volumes.

Banks in Bulgaria are now launching mobile wallets to offer convenient banking services to consumers. First Investment Bank AD (Fibank) launched its mobile wallet in April 2016, equipped with NFC contactless and MasterCard's certified Host Card Emulation (HCE) technology. The users can add card details to the wallet for future transactions. In May 2016, Postbank launched the m-Postbank mobile wallet, allowing consumers to perform online transactions.
Table of Contents
1 DEFINITIONS AND METHODOLOGY
1.1 Definitions
1.2 Methodology
2 KEY FACTS AND HIGHLIGHTS
3 EXECUTIVE SUMMARY
4 PAYMENT INSTRUMENTS
5 E-COMMERCE AND ALTERNATIVE PAYMENTS
5.1 E-Commerce Market Analysis
5.2 Alternative Payment Solutions
5.2.1 Paysafecard
5.2.2 PayPal
5.2.3 G-wallet
5.2.4 Fibank mobile wallet
5.2.5 iCARD multi-currency wallet
6 REGULATIONS IN THE CARDS AND PAYMENTS INDUSTRY
6.1 Regulatory Framework
6.1.1 SEPA Cards Framework
6.2 Anti-Money Laundering (AML)
6.3 Foreign Direct Investment (FDI) Regulations
7 ANALYSIS OF CARDS AND PAYMENTS INDUSTRY DRIVERS
8 PAYMENT CARDS
9 DEBIT CARDS
9.1 Debit Cards Market Analysis
9.2 Competition in Debit Cards Market
9.3 Debit Cards Comparison
10 PAY LATER CARDS
10.1 Pay Later Cards Market Analysis
10.2 Competition in Pay Later Cards Market
10.3 Pay Later Cards Comparison
11 PREPAID CARDS
12 APPENDIX
12.1 Tables
12.2 Contact Timetric
12.3 About Timetric
12.4 Timetrics Services
12.5 Disclaimer

List of Tables
Table 1: Key Definitions
Table 2: Annual Average Exchange Rate
Table 3: Bulgaria Key Facts, 2015
Table 4: Regional Benchmarking of Bulgarias Payment Cards, 2015
Table 5: Bulgaria Mode of Entry of Foreign Banks
Table 6: Bulgaria Debit Cards Comparison and Key Features, 2016
Table 7: Bulgaria Gold Credit Cards Comparison and Key Features, 2016
Table 8: Bulgaria Premium Credit Cards Comparison and Key Features, 2016
Table 9: Bulgaria Payment Instrument Transaction Values (BGN Billion), 20112015
Table 10: Bulgaria Payment Instrument Transaction Values (US$ Billion), 20112015
Table 11: Bulgaria Payment Instrument Transaction Volumes (Million), 20112015
Table 12: Bulgaria Number of Payment Cards in Circulation by Type (Million), 20112020
Table 13: Bulgaria Volume of Payment Card Transactions by Type (Million), 20112020
Table 14: Bulgaria Value of Payment Card Transactions by Type (BGN Billion), 20112020
Table 15: Bulgaria Value of Payment Card Transactions by Type (US$ Billion), 20112020
Table 16: Bulgaria Number of Debit Cards in Circulation (Million), 20112020
Table 17: Bulgaria Debit Card Transaction Volumes and Frequency by Channel, 20112020
Table 18: Bulgaria Debit Card Total and Average Transaction Values by Channel, 20112020
Table 19: Bulgaria Debit Card Total and Average Transaction Values by Channel, 20112020
Table 20: Bulgaria Number of Debit Cards in Circulation by Scheme (Million), 20112015
Table 21: Bulgaria Debit Card Transaction Values by Scheme (BGN Million), 20112015
Table 22: Bulgaria Debit Card Transaction Values by Scheme (US$ Million), 20112015
Table 23: Bulgaria Debit Card Transaction Values by Issuer (BGN Billion), 20112015
Table 24: Bulgaria Debit Card Transaction Values by Issuer (US$ Billion), 20112015
Table 25: Bulgaria Number of Pay Later Cards in Circulation (Million), 20112020
Table 26: Bulgaria Pay Later Card Transaction Volumes and Frequency by Channel, 20112020
Table 27: Bulgaria Pay Later Card Total and Average Transaction Values by Channel, 20112020
Table 28: Bulgaria Pay Later Card Total and Average Transaction Values by Channel, 20112020
Table 29: Bulgaria Number of Pay Later Cards in Circulation by Scheme (Thousand), 20112015
Table 30: Bulgaria Pay Later Card Transaction Values by Scheme (BGN Million), 20112015
Table 31: Bulgaria Pay Later Card Transaction Values by Scheme (US$ Million), 20112015
Table 32: Bulgaria Pay Later Card Transaction Values by Issuer (BGN Million), 20112015
Table 33: Bulgaria Pay Later Card Transaction Values by Issuer (US$ Million), 20112015
Table 34: Bulgaria Personal and Commercial Pay Later Card Transaction Volumes (Million), 20112020
Table 35: Bulgaria Personal and Commercial Pay Later Card Transaction Values (BGN Billion), 20112020
Table 36: Bulgaria Personal and Commercial Pay Later Card Transaction Values (US$ Billion), 20112020
Table 37: Bulgaria Number of Commercial Pay Later Cards in Circulation (Thousand), 20112020
Table 38: Bulgaria Commercial Pay Later Card Transaction Volumes (Million), 20112020
Table 39: Bulgaria Commercial Pay Later Card Transaction Values (BGN Billion), 20112020
Table 40: Bulgaria Commercial Pay Later Card Transaction Values (US$ Billion), 20112020
Table 41: Bulgaria Number of Prepaid Cards in Circulation (Thousand), 20112020
Table 42: Bulgaria Prepaid Card Transaction Values (BGN Million), 20112020
Table 43: Bulgaria Prepaid Card Transaction Values (US$ Million), 20112020

List of Figures
Figure 1: Bulgaria Payment Instrument Shares by Transaction Value (%), 2011 vs. 2015
Figure 2: Bulgaria Payment Instrument Shares by Transaction Volume (%), 2011 vs. 2015
Figure 3: Bulgaria E-Commerce Value, 20112020
Figure 4: Bulgaria Population
Figure 5: Bulgaria Economic Indicators
Figure 6: Bulgaria ATMs and POS Terminals
Figure 7: Bulgaria Household Consumption
Figure 8: Bulgaria Growth in Payment Card Transaction Values and Number of Cards in Circulation by Type, 20112020
Figure 9: Bulgaria Debit Card Penetration, 2015
Figure 10: Bulgaria Turnover Per Debit Card, 2015
Figure 11: Bulgaria Debit Card Scheme Share in Terms of Transaction Value, 2015
Figure 12: Bulgaria Debit Card Issuer Share in Terms of Transaction Value, 2015
Figure 13: Bulgaria Pay Later Card Penetration, 2015
Figure 14: Bulgaria Turnover Per Pay Later Card, 2015
Figure 15: Bulgaria Pay Later Card Scheme Share in Terms of Transaction Value, 2015
Figure 16: Bulgaria Pay Later Card Issuer Share in Terms of Transaction Value, 2015
Figure 17: Bulgaria Number of Prepaid Cards In Circulation, 20112015
Figure 18: Bulgaria Prepaid Cards Transaction Value, 20112015

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