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

Published By :

Timetric

Published Date : Jul 2016

Category :

Banking

No. of Pages : 57 Pages

Synopsis
Timetrics 'The Cards and Payments Industry in Ireland: Emerging Trends and Opportunities to 2020' report provides detailed analysis of market trends in the Irish cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including check payments, payment cards, cash transactions, direct debits and credit transfers 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 Ireland: Emerging Trends and Opportunities to 2020' report provides top-level market analysis, information and insights into the Irish cards and payments industry, including:

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

Detailed insights into payment instruments including credit transfers, direct debits, 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 Irish 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 the Irish cards and payments industry.

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

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

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

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

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

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

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

Key Highlights
The Irish government abolished stamp duty on debit card transactions effective from January 1, 2016 to reduce cash withdrawals at ATMs using debit cards. Before the abolition, consumers in Ireland paid an annual fee of US$3.3 (EUR2.5) for ATM cards and US$6.6 (EUR5) for a combination of debit and ATM card. The government replaced the duty with a new fee of US$0.16 (EUR0.12) for each cash withdrawal, in addition to the bank charges. However, there are no charges for debit card transactions at POS terminals. This initiative is anticipated to encourage debit card use at POS terminals.

Uptake of contactless technology among Irish consumers is growing. To encourage contactless transactions, the Irish government increased the contactless payment limit from US$16.7 (EUR15) to US$33.3 (EUR30) from October 31, 2015. On February 16, 2016, Visa Europe announced that 1 million contactless transactions on Visa cards are made every week in Ireland, as a result of the increased spending limit, compared to 2 million transactions per month in September 2015. Banks are also taking steps to encourage contactless transactions. For instance, in September 2015 Allied Irish Banks (AIB) announced plans to waive fees for contactless transactions for one year from the date of announcement.

The growing payment cards market has encouraged several mobile POS (mPOS) solution providers to enter the Irish market. The latest is the launch of a low-cost mPOS terminal by UK-based online solution provider Payleven (now SumUp) in March 2015. The mPOS terminal costs US$71.1 (EUR64). In October 2014, another UK-based online payment solution provider, Paysafe, partnered with domestic mPOS solution provider Handpoint to introduce mPOS terminals in Ireland. The terminals are compatible with Android and iOS smartphones and tablets, and can be linked via Bluetooth. The introduction of low-cost solutions is expected to encourage merchants to accept card-based payments, further driving payment card transaction volumes and values.
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 Payment Environment
5 E-Commerce
5.1 E-Commerce Market Analysis
6 Alternative Payments
6.1 Alternative Payment Instruments
6.1.1 PayPal
6.1.2 V.me
6.1.3 MasterPass
6.1.4 Single-Click
6.1.5 Boon
6.1.6 Pay Your Contacts
7 Regulations in the Cards and Payments Industry
7.1 Regulatory Framework
7.1.1 SEPA cards framework
7.1.2 Interchange fee regulation
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
9.1 Market Segmentation and Targeting
9.1.1 Consumer cards
9.1.2 Commercial cards
10 Payment Cards
10.1 Payment Cards Market Analysis
10.1.1 Volume and value of payment card transactions by type
11 Debit Cards
11.1 Debit Card Market Analysis
11.1.1 Turnover per debit card and transaction values by channel
11.1.2 Debit card scheme and issuer shares in terms of transaction value
11.1.3 Debit cards comparison
12 Pay Later Cards
12.1 Pay Later Card Market Analysis
12.1.1 Turnover per pay later card and transaction values by channel
12.1.2 Pay later card scheme and issuer shares in terms of transaction value
12.1.3 Pay later cards comparison
13 Commercial Pay Later Cards
13.1 Commercial Pay Later Card Market Analysis
13.1.1 Commercial cards comparison
14 Card Issuers
14.1 Allied Irish Banks
14.2 Bank of Ireland (BOI)
14.3 Ulster Bank
14.4 Permanent TSB Group
15 Prepaid Cards
15.1 Prepaid Card Market Analysis
15.1.1 Prepaid cards comparison
16 Merchant Acquiring
16.1 Merchant Acquiring Market Analysis
17 Appendix
17.1 Tables
17.2 Contact Timetric
17.3 About Timetric
17.4 Timetrics Services
17.5 Disclaimer

List of Tables
Table 1: Key Definitions
Table 2: Annual Average Exchange Rate
Table 3: Ireland Key Facts, 2015
Table 4: Regional Benchmarking of Irelands Payment Cards, 2015
Table 5: Ireland Mode of Entry of Foreign Banks
Table 6: Cards for High-Income Consumers, 2016
Table 7: Cards for Shoppers, 2016
Table 8: Balance Transfer Credit Cards, 2016
Table 9: Cards for Students and Young Population, 2016
Table 10: Commercial Cards Comparison and Key Features, 2016
Table 11: Ireland Debit Cards Comparison and Key Features, 2016
Table 12: Ireland Gold Credit Cards Comparison and Key Features, 2016
Table 13: Ireland Premium Credit Cards Comparison and Key Features, 2016
Table 14: Ireland Commercial Credit Cards Comparison and Key Features, 2016
Table 15: Ireland Prepaid Cards Comparison and Key Features, 2016
Table 16: Ireland Payment Instrument Transaction Values (EUR Billion), 20112015
Table 17: Ireland Payment Instrument Transaction Values (US$ Billion), 20112015
Table 18: Ireland Payment Instrument Transaction Volumes (Million), 20112015
Table 19: Ireland Number of Payment Cards in Circulation by Type (Million), 20112020
Table 20: Ireland Volume of Payment Card Transactions by Type (Million), 20112020
Table 21: Ireland Value of Payment Card Transactions by Type (EUR Billion), 20112020
Table 22: Ireland Value of Payment Card Transactions by Type (US$ Billion), 20112020
Table 23: Ireland Number of Debit Cards in Circulation (Million), 20112020
Table 24: Ireland Debit Card Transaction Volumes and Frequency by Channel, 20112020
Table 25: Ireland Debit Card Total and Average Transaction Values by Channel, 20112020
Table 26: Ireland Debit Card Total and Average Transaction Values by Channel, 20112020
Table 27: Ireland Number of Debit Cards in Circulation by Scheme (Thousand), 20112015
Table 28: Ireland Debit Card Transaction Values by Scheme (EUR Billion), 20112015
Table 29: Ireland Debit Card Transaction Values by Scheme (US$ Billion), 20112015
Table 30: Ireland Debit Card Transaction Values by Issuer (EUR Billion), 20112015
Table 31: Ireland Debit Card Transaction Values by Issuer (US$ Billion), 20112015
Table 32: Ireland Number of Pay Later Cards in Circulation (Million), 20112020
Table 33: Ireland Pay Later Card Transaction Volumes and Frequency by Channel, 20112020
Table 34: Ireland Pay Later Card Total and Average Transaction Values by Channel, 20112020
Table 35: Ireland Pay Later Card Total and Average Transaction Values by Channel, 20112020
Table 36: Ireland Number of Pay Later Cards in Circulation by Scheme (Thousand), 20112015
Table 37: Ireland Pay Later Card Transaction Values by Scheme (EUR Billion), 20112015
Table 38: Ireland Pay Later Card Transaction Values by Scheme (US$ Billion), 20112015
Table 39: Ireland Pay Later Card Transaction Values by Issuer (EUR Billion), 20112015
Table 40: Ireland Pay Later Card Transaction Values by Issuer (US$ Billion), 20112015
Table 41: Ireland Personal and Commercial Pay Later Card Transaction Volumes (Million), 20112020
Table 42: Ireland Personal and Commercial Pay Later Card Transaction Values (EUR Billion), 20112020
Table 43: Ireland Personal and Commercial Pay Later Card Transaction Values (US$ Billion), 20112020
Table 44: Ireland Number of Commercial Pay Later Cards in Circulation (Thousand), 20112020
Table 45: Ireland Commercial Pay Later Card Transaction Volumes (Million), 20112020
Table 46: Ireland Commercial Pay Later Card Transaction Values (EUR Billion), 20112020
Table 47: Ireland Commercial Pay Later Card Transaction Values (US$ Billion), 20112020
Table 48: Ireland Number of Prepaid Cards in Circulation (Thousand), 20112020
Table 49: Ireland Prepaid Card Transaction Values (EUR Million), 20112020
Table 50: Ireland Prepaid Card Transaction Values (US$ Million), 20112020
Table 51: Ireland Merchant Acquiring Transaction Volumes by Channel (Million), 20112020
Table 52: Ireland Merchant Acquiring Transaction Values (EUR Billion), 20112020
Table 53: Ireland Merchant Acquiring Transaction Values (US$ Billion), 20112020
Table 54: Ireland Acquirers Transaction Volumes (Million), 20112015
Table 55: Ireland Acquirers Transaction Values (EUR Billion), 20112015
Table 56: Ireland Acquirers Transaction Values (US$ Billion), 20112015
Table 57: Ireland Retail Outlets and Card Accepting Merchants (Thousand), 20112020

List of Figures
Figure 1: Ireland Payment Instrument Shares by Transaction Value (%), 2011 vs 2015
Figure 2: Ireland Payment Instrument Shares by Transaction Volume (%), 2011 vs 2015
Figure 3: Ireland E-Commerce Value (US$ Billion) and Payment Types (%)
Figure 4: Ireland Total Population and Structure
Figure 5: Ireland Economic Indicators
Figure 6: Ireland Number of ATMs and POS Terminals
Figure 7: Ireland Real Household Consumption and Outbound Tourism Expenditure
Figure 8: Ireland Segmentation by Card Type, 2016
Figure 9: Ireland Growth in Payment Card Transaction Values and Number of Cards in Circulation by Type, 20112020
Figure 10: Ireland Volume and Value of Payment Card Transactions by Type (%), 20112020
Figure 11: Ireland Debit Card Penetration and Cards in Circulation, 20112020
Figure 12: Ireland Debit Card, Average Interchange Fees: Intra-Network Transactions (%), 20112015
Figure 13: Ireland Debit Card, Average Merchant Service Charge and Interchange Fee: Domestic Transactions (%), 20112020
Figure 14: Ireland Turnover Per Debit Card and Transaction Values by Channel, 20112020
Figure 15: Ireland Debit Card Scheme and Issuer Shares in Terms of Transaction Value (%), 2015
Figure 16: Ireland Pay Later Cards Penetration and Cards in Circulation, 20112020
Figure 17: Ireland Pay Later, Average Interchange Fees: Intra-Network Transactions (%), 20112015
Figure 18: Ireland Pay Later, Average Merchant Service Charge and Interchange Fee: Domestic Transactions (%), 20112020
Figure 19: Ireland Turnover Per Pay Later Card and Transaction Values by Channel, 20112020
Figure 20: Ireland Pay Later Card Scheme and Issuer Shares in Terms of Transaction Value (%), 2015
Figure 21: Ireland Commercial vs Personal Pay Later Card, Transaction Volumes and Values (%), 20112020
Figure 22: Ireland Number of Commercial Pay Later Cards in Circulation, Transaction Value and Volume, 20112020
Figure 23: Ireland Number of Prepaid Cards in Circulation and Transaction Value, 20112020
Figure 24: Ireland Merchant Acquiring Transaction Volume and Value, 20112020
Figure 25: Ireland Acquirers Market Share in Terms of Transaction Volume and Value (%), 2015
Figure 26: Ireland Number of Retail Outlets and Card Accepting Merchants (Thousand), 20112020

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