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

Published By :

Timetric

Published Date : May 2016

Category :

Banking

No. of Pages : 53 Pages

Synopsis
Timetrics 'The Cards and Payments Industry in Latvia: Emerging Trends and Opportunities to 2020' report provides detailed analysis of market trends in the Latvian 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 Latvia: Emerging Trends and Opportunities to 2020' report provides top-level market analysis, information and insights into the Latvian cards and payments industry, including:

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

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

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

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

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

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

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

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

Key Highlights
The Latvian government and central bank has taken a number of initiatives in the form of programs and policies to bring a larger proportion of the population into the formal financial system. For instance, the Financial and Capital Market Commission (FCMC), Ministry of Education and Science, National Centre for Education, BA School of Business and Finance, Consumer Rights Protection Centre, Association of Commercial Banks of Latvia and Latvian Insurers Association collectively formulated the National Strategy for Financial Literacy 20142020, with the objective of creating awareness regarding the benefits of financial products and services among Latvians through campaigns and programs. The strategy is supported by the Ministry of Finance, the Ministry of Economics and the Bank of Latvia.

Improvements in payment infrastructure, including the adoption of contactless technology, supported the growth of payment cards. Digital security company Gemalto introduced contactless cards in 2013 for SEB; the first contactless card deployed in the Baltic region. The card is EMV-compliant, and can be used for cash-free travel on local buses in Latvia. The card can also be used by students to make contactless payments at school canteens and vending machines. In June 2015, Citadele Bank introduced contactless payment cards with electronic ticket (e-ticket) functionality, allowing consumers to pay for public transportation. The amount paid for the trip is deducted from the customers bank account, which is linked to the card. The card can also be used to make cash withdrawals at automatic teller machines (ATMs) and to pay for products at point of sale (POS) terminals.

To encourage small and medium-sized businesses (SMEs) to accept electronic payments, banks are offering business loans dependant on the volume of transactions carried out at POS terminals. Citadele Banka launched an SME lending program in December 2015, offering micro-loans to retailers. Through this program, retailers are offered a US$22,237.8 (EUR20,000) credit facility based on the volume of transactions conducted at their POS terminals. As of 2015, Citadele Banka had issued micro-loans to 49 companies.
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 Paysafecard
6.1.2 Monea
6.1.3 Mobiamo
7 Regulations in the Cards and Payments Industry
7.1 Regulatory Framework
7.1.1 SEPA cards 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
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 Debit card transaction volumes and 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 Cards Market Analysis
12.1.1 Turnover per pay later card and transaction values by channel
12.1.2 Pay later cards 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 pay later cards comparison
14 Appendix
14.1 Tables
14.2 Contact Timetric
14.3 About Timetric
14.4 Timetrics Services
14.5 Disclaimer

List of Tables
Table 1: Key Definitions
Table 2: Annual Average Exchange Rate
Table 3: Latvia Key Facts, 2015
Table 4: Regional Benchmarking of Latvian Payment Cards, 2015
Table 5: Latvia Mode of Entry of Foreign Banks, 19952007
Table 6: Cards for High-Income Consumers, 2016
Table 7: Cards for Shoppers, 2016
Table 8: Cards for Students and the Young Population, 2016
Table 9: Commercial Cards Comparison and Key Features, 2016
Table 10: Latvia Visa Domestic Multi-Lateral Interchange Fees, 2015
Table 11: Latvia MasterCard Consumer Card Interchange Fees, 2016
Table 12: Latvia MasterCard Commercial Card Interchange Fees, 2016
Table 13: Latvia Debit Cards Comparison and Key Features, 2016
Table 14: Latvia Visa Domestic Multi-lateral Interchange Fees, 2015
Table 15: Latvia MasterCard Consumer Card Interchange Fees, 2016
Table 16: Latvia MasterCard Commercial Card Interchange Fees, 2016
Table 17: Latvia Gold Credit Cards Comparison and Key Features, 2016
Table 18: Latvia Premium Credit Cards Comparison and Key Features, 2016
Table 19: Latvia Commercial Credit Cards Comparison and Key Features, 2016
Table 20: Latvia Payment Instrument Transaction Values (EUR Billion), 20112015
Table 21: Latvia Payment Instrument Transaction Values (US$ Billion), 20112015
Table 22: Latvia Payment Instrument Transaction Volumes (Million), 20112015
Table 23: Latvia Number of Payment Cards in Circulation by Type (Million), 20112020
Table 24: Latvia Volume of Payment Card Transactions by Type (Million), 20112020
Table 25: Latvia Value of Payment Card Transactions by Type (EUR Billion), 20112020
Table 26: Latvia Value of Payment Card Transactions by Type (US$ Billion), 20112020
Table 27: Latvia Number of Debit Cards in Circulation (Million), 20112020
Table 28: Latvia Debit Card Transaction Volumes and Frequency by Channel, 20112020
Table 29: Latvia Debit Card Total and Average Transaction Values by Channel, 20112020
Table 30: Latvia Debit Card Total and Average Transaction Values by Channel, 20112020
Table 31: Latvia Number of Debit Cards in Circulation By Scheme (Million), 20112015
Table 32: Latvia Debit Card Transaction Values By Scheme (EUR Billion), 20112015
Table 33: Latvia Debit Card Transaction Values By Scheme (US$ Billion), 20112015
Table 34: Latvia Debit Card Transaction Values by Issuer (EUR Billion), 20112015
Table 35: Latvia Debit Card Transaction Values by Issuer (US$ Billion), 20112015
Table 36: China Number of Pay Later Cards in Circulation (Thousand), 20112020
Table 37: Latvia Pay Later Card Transaction Volumes and Frequency by Channel, 20112020
Table 38: Latvia Pay Later Card Total and Average Transaction Values by Channel, 20112020
Table 39: Latvia Pay Later Card Total and Average Transaction Values by Channel, 20112020
Table 40: Latvia Number of Pay Later Cards in Circulation By Scheme (Thousand), 20112015
Table 41: Latvia Pay Later Card Transaction Values By Scheme (EUR Million), 20112015
Table 42: Latvia Pay Later Card Transaction Values By Scheme (US$ Million), 20112015
Table 43: Latvia Pay Later Card Transaction Values By Issuer (EUR Million), 20112015
Table 44: Latvia Pay Later Card Transaction Values By Issuer (US$ Million), 20112015
Table 45: Latvia Number of Credit Cards in Circulation (Million), 20112020
Table 46: Latvia Credit Card Transaction Volumes and Frequency by Channel, 20112020
Table 47: Latvia Credit Card Total and Average Transaction Values by Channel, 20112020
Table 48: Latvia Credit Card Total and Average Transaction Values by Channel, 20112020
Table 49: Latvia Number of Credit Cards in Circulation By Scheme (Thousand), 20112015
Table 50: Latvia Credit Card Transaction Values By Scheme (EUR Million), 20112015
Table 51: Latvia Credit Card Transaction Values By Scheme (US$ Million), 20112015
Table 52: Latvia Number of Charge Cards in Circulation (Thousand), 20112020
Table 53: Latvia Charge Card Transaction Volumes and Frequency by Channel, 20112020
Table 54: Latvia Charge Card Total and Average Transaction Values by Channel, 20112020
Table 55: Latvia Charge Card Total and Average Transaction Values by Channel, 20112020
Table 56: Latvia Number of Charge Cards in Circulation By Scheme (Thousand), 20112015
Table 57: Latvia Charge Card Transaction Values By Scheme (EUR Million), 20112015
Table 58: Latvia Charge Card Transaction Values By Scheme (US$ Million), 20112015
Table 59: Latvia Pay Later Personal and Commercial Card Transaction Volumes (Million), 20112020
Table 60: Latvia Pay Later Personal and Commercial Card Transaction Values (EUR Billion), 20112020
Table 61: Latvia Pay Later Personal and Commercial Card Transaction Values (US$ Billion), 20112020
Table 62: Latvia Number of Commercial Pay Later Cards in Circulation (Thousand), 20112020
Table 63: Latvia Commercial Pay Later Card Transaction Volumes (Million), 20112020
Table 64: Latvia Commercial Pay Later Card Transaction Values (EUR Billion), 20112020
Table 65: Latvia Commercial Pay Later Card Transaction Values (US$ Billion), 20112020

List of Figures
Figure 1: Latvia Payment Instrument Shares by Transaction Value (%), 2011 vs 2015
Figure 2: Latvia Payment Instrument Shares by Transaction Volume (%), 2011 vs 2015
Figure 3: Latvia E-Commerce Value (US$ Billion), 20112020
Figure 4: Latvia Total Population and Structure, 20112020
Figure 5: Latvia Economic Indicators, 20112020
Figure 6: Latvia Number of ATMs and POS Terminals
Figure 7: Latvia Real Household Consumption and Outbound Tourist Expenditure, 20112015
Figure 8: Latvia Segmentation by Card Type, 2016
Figure 9: Latvia Growth in Payment Card Transaction Values and Number of Cards in Circulation by Type, 20112020
Figure 10: Latvia Volume and Value of Payment Card Transactions by Type (%), 20112020
Figure 11: Latvia Debit Card Penetration and Cards in Circulation, 20112020
Figure 12: Latvia Turnover per Debit Card and Values by Channel, 20112020
Figure 13: Latvia Debit Card Scheme and Issuer Shares in Terms of Transaction Value (%), 2015
Figure 14: Latvia Pay Later Card Penetration and Number of Cards in Circulation, 20112020
Figure 15: Latvia Turnover Per Pay Later Card and Values by Channel, 20112020
Figure 16: Latvia Pay Later Cards Scheme and Issuer Shares in Terms of Transaction Value (%), 2015
Figure 17: Latvia Pay Later Commercial vs Personal Cards, Transaction Volumes and Values (%), 20112020
Figure 18: Latvia Number of Commercial Pay Later Cards, Transaction Values and Volumes, 20112020

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