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The Cards and Payments Industry in Estonia: Emerging Trends and Opportunities to 2021

Published By :

Timetric

Published Date : Dec 2016

Category :

Cards & Payments

No. of Pages : 47 Pages

Synopsis
Timetrics 'The Cards and Payments Industry in Estonia: Emerging Trends and Opportunities to 2021' report provides detailed analysis of market trends in the Estonian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including direct debits, check payments, payment cards, cash transactions and credit transfers during the review period (20122016).

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 (20172021). 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 Estonia: Emerging Trends and Opportunities to 2021' report provides top-level market analysis, information and insights into the Estonian cards and payments industry, including:

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

Detailed insights into payment instruments including direct debit, credit transfers, cash transactions, checks 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 Estonian cards and payments industry.

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

Comprehensive analysis of consumer attitudes and buying preferences for cards.

The competitive landscape in the Estonian cards and payments industry.

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

It provides current values for the Estonian cards and payments industry for 2016, and forecast figures to 2021.

It details the different demographic, economic, infrastructural and business drivers affecting the Estonian 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 Estonian cards and payments industry and each market within it.

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

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

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

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

Key Highlights
To increase broadband access for the general population, the government launched Digital Agenda 2020 in 2014. The aim is to provide 60% of the country with 100mbps high-speed broadband; basic services will run at 30mbps. In December of the same year, the government extended the electronic citizenship (e-Residency) system to include Estonian citizens residing in other countries. The service was also developed to include e-Residency for individuals looking to establish a business in Estonia. This program provides users with a digital ID card with an integrated chip, which allows them to use private and public sector services, encrypt files and digitally sign documents. In April 2016, the government declared that e-residents could open Estonian bank accounts without having to visit a branch. These initiatives are expected to drive the growth of digital payments.

In line with the rising adoption of contactless technology in Europe, Estonia is expected to adopt more contactless platforms over the forecast period (20172021). With Swedbank, Nordea and LHV Pank having launched contactless technology, the uptake of contactless payments will increase. Sebbank (SEB) plans to introduce contactless cards by 2017.

Alternative payments are gaining prominence, with the availability of Fortumo, Taxify and WioPay. Fortumo, headquartered in Estonia, has evolved into a leading carrier billing payment solution with operations in 96 countries and contracts with 350 mobile network operators. Fortumo is provided through the mobile operators Telia, Elisa and Tele2. Taxify launched its mobile carrier billing service in April 2015; this app allows Android and iOS users to pay their taxi fares through their mobile service provider.
Table of Contents
1 DEFINITIONS AND METHODOLOGY
1.1 Definitions
1.2 Methodology
2 KEY FACTS AND HIGHLIGHTS
3 EXECUTIVE SUMMARY
4 PAYMENT INSTRUMENTS
4.1 Current Payment Environment
5 E-COMMERCE AND ALTERNATIVE PAYMENTS
5.1 E-Commerce Market Analysis
5.2 Alternative Payment Solutions
5.2.1 Fortumo
5.2.2 Skrill
5.2.3 Taxify
5.2.4 Cuber wallet
5.2.5 Paytailor wallet
5.2.6 WioPay
5.2.7 Paych
6 REGULATION 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 APPENDIX
11.1 Tables
11.2 Contact Timetric
11.3 About Timetric
11.4 Timetrics Services
11.5 Disclaimer

List of Tables
Table 1: Key Definitions
Table 2: Annual Average Exchange Rate
Table 3: Estonia Key Facts, 2016
Table 4: Regional Benchmarking of Estonia Payment Cards, 2016
Table 5: Estonia Mode of Entry of Foreign Banks
Table 6: Estonia Debit Cards Comparison and Key Features, 2016
Table 7: Estonia Gold Credit Cards Comparison and Key Features, 2016
Table 8: Estonia Premium Credit Cards Comparison and Key Features, 2016
Table 9: Estonia Charge Cards Comparison and Key Features, 2016
Table 10: Estonia Payment Instrument Transaction Values (EUR Million), 20122016
Table 11: Estonia Payment Instrument Transaction Values (US$ Million), 20122016
Table 12: Estonia Payment Instrument Transaction Volumes (Thousand), 20122016
Table 13: Estonia Number of Payment Cards in Circulation by Type (Thousand), 20122021
Table 14: Estonia Volume of Payment Card Transactions by Type (Million), 20122021
Table 15: Estonia Value of Payment Card Transactions by Type (EUR Million), 20122021
Table 16: Estonia Value of Payment Card Transactions by Type (US$ Million), 20122021
Table 17: Estonia Number of Debit Cards in Circulation (Million), 20122021
Table 18: Estonia Debit Card Transaction Volumes and Frequency by Channel, 20122021
Table 19: Estonia Debit Card Total and Average Transaction Values by Channel, 20122021
Table 20: Estonia Debit Card Total and Average Transaction Values by Channel, 20122021
Table 21: Estonia Number of Debit Cards in Circulation by Scheme (Thousand), 20122016
Table 22: Estonia Debit Card Transaction Values by Scheme (EUR Million), 20122016
Table 23: Estonia Debit Card Transaction Values by Scheme (US$ Million), 20122016
Table 24: Estonia Debit Card Transaction Values by Issuer (EUR Billion), 20122016
Table 25: Estonia Debit Card Transaction Values by Issuer (US$ Billion), 20122016
Table 26: Estonia Number of Pay Later Cards in Circulation (Thousand), 20122021
Table 27: Estonia Pay Later Card Transaction Volumes and Frequency by Channel, 20122021
Table 28: Estonia Pay Later Card Total and Average Transaction Values by Channel, 20122021
Table 29: Estonia Pay Later Card Total and Average Transaction Values by Channel, 20122021
Table 30: Estonia Number of Pay Later Cards in Circulation by Scheme (Thousand), 20122016
Table 31: Estonia Pay Later Card Transaction Values by Scheme (EUR Million), 20122016
Table 32: Estonia Pay Later Card Transaction Values by Scheme (US$ Million), 20122016
Table 33: Estonia Pay Later Card Transaction Values by Issuer (EUR Million), 20122016
Table 34: Estonia Pay Later Card Transaction Values by Issuer (US$ Million), 20122016
Table 35: Estonia Number of Credit Cards in Circulation (Thousand), 20122021
Table 36: Estonia Credit Card Transaction Volumes and Frequency by Channel, 20122021
Table 37: Estonia Credit Card Total and Average Transaction Values by Channel, 20122021
Table 38: Estonia Credit Card Total and Average Transaction Values by Channel, 20122021
Table 39: Estonia Number of Credit Cards in Circulation by Scheme (Thousand), 20122016
Table 40: Estonia Credit Card Transaction Values by Scheme (EUR Million), 20122016
Table 41: Estonia Credit Card Transaction Values by Scheme (US$ Million), 20122016
Table 42: Estonia Number of Charge Cards in Circulation (Thousand), 20122021
Table 43: Estonia Charge Card Transaction Volumes and Frequency by Channel, 20122021
Table 44: Estonia Charge Card Total and Average Transaction Values by Channel, 20122021
Table 45: Estonia Charge Card Total and Average Transaction Values by Channel, 20122021
Table 46: Estonia Number of Charge Cards in Circulation by Scheme (Thousand), 20122016
Table 47: Estonia Charge Card Transaction Values by Scheme (EUR Million), 20122016
Table 48: Estonia Charge Card Transaction Values by Scheme (US$ Million), 20122016
Table 49: Estonia Personal and Commercial Pay Later Card Transaction Volumes (Million), 20122021
Table 50: Estonia Personal and Commercial Pay Later Card Transaction Values (EUR Million), 20122021
Table 51: Estonia Personal and Commercial Pay Later Card Transaction Values (US$ Billion), 20122021
Table 52: Estonia Number of Commercial Pay Later Cards in Circulation (Thousand), 20122021
Table 53: Estonia Commercial Pay Later Card Transaction Volumes (Million), 20122021
Table 54: Estonia Commercial Pay Later Card Transaction Values (EUR Million), 20122021
Table 55: Estonia Commercial Pay Later Card Transaction Values (US$ Million), 20122021

List of Figures
Figure 1: Estonia Payment Instrument Shares by Transaction Value (%), 2012 vs. 2016
Figure 2: Estonia Payment Instrument Shares by Transaction Volume (%), 2012 vs. 2016
Figure 3: Estonia E-Commerce Value, 20122021
Figure 4: Estonia Population
Figure 5: Estonia Economic Indicators
Figure 6: Estonia ATMs and POS Terminals
Figure 7: Estonia Household Consumption
Figure 8: Estonia Growth in Payment Card Transaction Values, 20122021
Figure 9: Estonia Number of Cards in Circulation by Type, 20122021
Figure 10: Estonia Debit Card Penetration, 2016
Figure 11: Estonia Turnover Per Debit Card, 2016
Figure 12: Estonia Debit Card Issuer Share in Terms of Transaction Value, 2016
Figure 13: Estonia Debit Card Scheme Share in Terms of Transaction Value, 2016
Figure 14: Estonia Pay Later Card Penetration, 2016
Figure 15: Estonia Turnover Per Pay Later Card, 2016
Figure 16: Estonia Pay Later Card Scheme Share in Terms of Transaction Value, 2016
Figure 17: Estonia Pay Later Card Issuer Share in Terms of Transaction Value, 2016

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