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The Cards and Payments Industry in Finland: Emerging Trends and Opportunities to 2019

Published By :

Timetric

Published Date : Jan 2016

Category :

Banking

No. of Pages : 58 Pages

Synopsis
Timetrics 'The Cards and Payments Industry in Finland: Emerging Trends and Opportunities to 2019' report provides detailed analysis of market trends in Finland's cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including check payments, credit transfers, direct debits, payment cards and cash transactions during the review period (20102014).

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 (20152019). It also offers information on the country's competitive landscape, including 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 detailed regulatory policies, recent changes in regulatory structure and profiles of card issuers operating in the country.

Summary
Timetrics 'The Cards and Payments Industry in Finland: Emerging Trends and Opportunities to 2019' report provides top-level market analysis, information and insights into Finland's cards and payments industry, including:

Current and forecast values for each market in Finland's cards and payments industry, including debit, credit and charge cards.

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

E-commerce market analysis and online payment types.

Analysis of various market drivers and regulations governing Finland's 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 of Finland's cards and payments industry.

Scope
This report provides a comprehensive analysis of Finland's cards and payments industry.

It provides current values for Finland's cards and payments industry for 2014, and forecast figures to 2019.

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

It outlines the current regulatory framework in the industry.

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

It profiles major banks in Finland's cards and payments industry.

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

Understand the key market trends and growth opportunities in Finland's cards and payments industry.

Assess the competitive dynamics in Finland's cards and payments industry.

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

Gain insights into key regulations governing Finland's cards and payments industry.

Key Highlights
Contactless technology is gaining acceptance among Finnish consumers, and issuers are introducing cards enabled with contactless technology to gain a market share in the cards and payments industry. The latest initiatives in contactless payments include the collective introduction of contactless cards by Euroloan Consumer Finance and Compass Card in August 2015 and the MasterCard Bankkontokort debit card with contactless functionality by Bank of land in 2014. In addition, the Finnish telecommunications company Elisa and convenience store chain R-Kioski began selling pre-loaded near-field communication (NFC) payment stickers in April 2014, featuring MasterCards PayPass technology. By the end of 2014, there were 2 million contactless cards in Finland. This number is expected to reach 7.9 million by 2019, registering a forecast-period (20152019) compound annual growth rate (CAGR) of 24.24%.

Banking penetration is very high in Finland. According to the World Banks 2014 Global Findex survey, the percentage of the Finnish population aged 15 or above with a bank account reached 100% in 2014. In order to increase banking penetration among the fast-growing immigrant population, the National Discrimination and Equality Tribunal enforced a regulation in July 2014 requiring banks in Finland to accept foreign identity documents as a proof of identity to access and manage accounts in Finland. This is expected to result in a rise in the total number of bank accounts, and banking products such as debit and credit cards in the country.

To capitalize on the fast-growing mobile payments (m-payments) market, an increasing number of retailers are allowing customers to make payments by mobile phone. Since May 2014, the Finnish hamburger chain Hesburger has allowed customers to make payments and redeem reward points by using the SEQR mobile app, which was developed by the Swedish company Seamless. This service was initially available in 120 restaurants, and was rolled out to 160 more outlets by the end of 2014. Similarly, OP-Pohjola Group launched a mobile wallet app, Pivo, in March 2015. The wallet uses Host Card Emulation (HCE) technology to emulate a card on an NFC-enabled device to make contactless payments. This service is available for holders of OP-Visa Debit and OP-Visa Electron cards.
Table of Contents
1 Definitions and Methodology
1.1 Definitions
1.2 Methodology
2 Key Facts and Events
3 Executive Summary
4 Payment Instruments
4.1 Current Payments Environment
5 E-Commerce
5.1 E-Commerce Market Analysis
6 Alternative Payments
6.1 Alternative Payment Instruments
6.1.1 Klarna
6.1.2 EuTeller
6.1.3 Trustly
6.1.4 PayPal
6.1.5 Elisa Lompakko
6.1.6 Facial recognition algorithms
7 Regulations in the Cards and Payments Industry
7.1 Regulatory Framework
7.2 Anti-Money Laundering (AML)
7.3 Foreign Direct Investment (FDI) Regulations
8 Analysis of Cards and Payments Industry Drivers
8.1 Demographic Drivers
8.2 Economic Drivers
8.3 Infrastructure Drivers
8.4 Business Drivers
9 Market Segmentation and New Product Launches
9.1 Market Segmentation and Targeting
9.1.1 Consumer cards
9.1.2 Commercial cards
9.2 New Product Launches
10 Payment Cards
10.1 Payment Cards Analysis
10.1.1 Volume and value of payment card transactions by type
10.1.2 Personal vs commercial cards
11 Debit Cards
11.1 Debit Card Market Analysis
11.1.1 Debit card transaction volumes and values by channel
11.1.2 Debit card scheme shares in terms of number of cards in circulation and transaction value
11.1.3 Debit cards comparison
12 Credit Cards
12.1 Credit Card Market Analysis
12.1.1 Credit card transaction volumes and values by channel
12.1.2 Credit card scheme shares in terms of number of cards in circulation and transaction values
12.1.3 Credit cards comparison
13 Charge Cards
13.1 Charge Card Market Analysis
13.1.1 Charge card transaction volumes and values by channel
13.1.2 Charge card scheme shares in terms of transaction value
13.1.3 Charge cards comparison
14 Commercial Cards
14.1 Commercial Card Market Analysis
14.1.1 Commercial cards comparison
15 Card Issuers
15.1 OP-Pohjola Group
15.2 Nordea Bank
15.3 Danske Bank
15.4 SEB Kort
15.5 Bank of land
16 Appendix
16.1 Tables
16.2 Contact Timetric
16.3 About Timetric
16.4 Timetrics Services
16.5 Disclaimer

List of Tables
Table 1: Key Definitions
Table 2: Annual Average Exchange Rate
Table 3: Finland Key Facts, 2014
Table 4: Regional Benchmarking of Finland Payment Cards, 2014
Table 5: Finland Mode of Entry of Foreign Banks
Table 6: Finland Cards for High-Income Consumers, 2015
Table 7: Cards for Travelers, 2015
Table 8: Cards for Students and the Young Population, 2015
Table 9: Cards for Shoppers, 2015
Table 10: Commercial Card Comparisons and Key Features, 2015
Table 11: Finland New Product Launches
Table 12: Finland Visa Domestic Interchange Reimbursement Fees, 2011
Table 13: Finland MasterCard Consumer Card Interchange Fees, 2014
Table 14: Finland MasterCard Commercial Card Interchange Fees, 2014
Table 15: Finland Debit Card Comparisons and Key Features, 2015
Table 16: Finland Visa Domestic Interchange Reimbursement Fees, 2011
Table 17: Finland MasterCard Consumer Card Interchange Fees, 2014
Table 18: Finland MasterCard Commercial Card Interchange Fees, 2014
Table 19: Finland Gold Credit Cards Comparison and Key Features, 2015
Table 20: Finland Premium Credit Cards Comparisons and Key Features, 2015
Table 21: Finland Charge Cards Comparison and Key Features
Table 22: Finland Commercial Card Comparisons and Key Features, 2015
Table 23: Finland Payment Instrument Transaction Values (EUR Billion), 20102014
Table 24: Finland Payment Instrument Transaction Values (US$ Billion), 20102014
Table 25: Finland Payment Instrument Transaction Volumes (Million), 20102014
Table 26: Finland Number of Payment Cards in Circulation by Type (Million), 20102019
Table 27: Finland Volume of Payment Card Transactions by Type (Million), 20102019
Table 28: Finland Value of Payment Card Transactions by Type (EUR Billion), 20102019
Table 29: Finland Value of Payment Card Transactions by Type (US$ Billion), 20102019
Table 30: Finland Personal and Commercial Card Transaction Values (EUR Billion), 20102019
Table 31: Finland Personal and Commercial Card Transaction Values (US$ Billion), 20102019
Table 32: Finland Personal and Commercial Card Transaction Volumes (Million), 20102019
Table 33: Finland Number of Debit Cards in Circulation (Million), 20102019
Table 34: Finland Debit Card Transaction Volumes and Frequency by Channel, 20102019
Table 35: Finland Debit Card Total and Average Transaction Values by Channel, 20102019
Table 36: Finland Debit Card Total and Average Transaction Values by Channel, 20102019
Table 37: Finland Number of Debit Cards in Circulation by Scheme (Million), 20102014
Table 38: Finland Debit Card Transaction Values by Scheme (EUR Billion), 20102014
Table 39: Finland Debit Card Transaction Values by Scheme (US$ Billion), 20102014
Table 40: Finland Debit Card Transaction Values by Issuer (EUR Billion), 20102014
Table 41: Finland Debit Card Transaction Values by Issuer (US$ Billion), 20102014
Table 42: Finland Number of Credit Cards in Circulation (Million), 20102019
Table 43: Finland Credit Card Transaction Volumes and Frequency by Channel, 20102019
Table 44: Finland Credit Card Total and Average Transaction Values by Channel, 20102019
Table 45: Finland Credit Card Total and Average Transaction Values by Channel, 20102019
Table 46: Finland Number of Credit Cards in Circulation by Scheme (Million), 20102014
Table 47: Finland Credit Card Transaction Values by Scheme (EUR Billion), 20102014
Table 48: Finland Credit Card Transaction Values by Scheme (US$ Billion), 20102014
Table 49: Finland Pay Later Transaction Values by Issuer (EUR Billion), 20102014
Table 50: Finland Pay Later Transaction Values by Issuer (US$ Billion), 20102014
Table 51: Finland Credit Card Balances Outstanding by Issuer (EUR Million), 20102014
Table 52: Finland Credit Card Balances Outstanding by Issuer (US$ Million), 20102014
Table 53: Finland Number of Charge Cards in Circulation (Million), 20102019
Table 54: Finland Charge Card Transaction Volumes and Frequency by Channel, 20102019
Table 55: Finland Charge Card Total and Average Transaction Values by Channel, 20102019
Table 56: Finland Charge Card Total and Average Transaction Values by Channel, 20102019
Table 57: Finland Number of Charge Cards in Circulation by Scheme (Million), 20102014
Table 58: Finland Charge Card Transaction Values by Scheme (EUR Million), 20102014
Table 59: Finland Charge Card Transaction Values by Scheme (US$ Million), 20102014
Table 60: Finland Number of Commercial Cards in Circulation (Thousand), 20102019
Table 61: Finland Commercial Card Transaction Values (EUR Billion), 20102019
Table 62: Finland Commercial Card Transaction Values (US$ Billion), 20102019

List of Figures
Figure 1: Finland Payment Instrument Shares by Transaction Value (%), 2010 and 2014
Figure 2: Finland Payment Instrument Shares by Transaction Volume (%), 2010 and 2014
Figure 3: Finland E-Commerce Value (US$ Billion) and Payment Types (%)
Figure 4: Finland Total Population and Structure, 2014
Figure 5: Finland Economic Indicators, 20102019
Figure 6: Finland Number of ATMs, POS Terminals and Commercial Bank Branches, 20102019
Figure 7: Finland Retail Sales and Household Final Consumption Expenditure Per Capita,
Figure 8: Finland Segmentation by Card Type
Figure 9: Finland Growth in Payment Card Transaction Values and Number of Cards in Circulation by Type, 20102019
Figure 10: Finland Volume and Value of Payment Card Transactions by Type (%), 20102019
Figure 11: Finland Personal and Commercial Card Transaction Volumes and Values (%), 20102019
Figure 12: Finland Growth in Debit Card Transaction Values and Number of Cards in Circulation, 20102019
Figure 13: Finland Debit Card Transaction Volumes and Values by Channel, 20102019
Figure 14: Finland Debit Card Scheme and Issuer Shares in Terms of Transaction Value (%), 2014
Figure 15: Finland Growth in Credit Card Transaction Values and Number of Cards in Circulation, 20102019
Figure 16: Finland Credit Card Transaction Volumes and Values by Channel, 20102019
Figure 17: Finland Credit Card Scheme and Issuer Shares in Terms of Transaction Value (%), 2014
Figure 18: Finland Growth in Charge Card Transaction Values and Number of Cards in Circulation, 20102019
Figure 19: Finland Charge Card Transaction Volumes and Values by Channel, 20102019
Figure 20: Finland Charge Card Scheme Shares in Terms of Transaction Value (%), 2014
Figure 21: Finland Number of Commercial Cards in Circulation and Transaction Values, 20102019

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