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

Published By :

Timetric

Published Date : Nov 2016

Category :

Cards & Payments

No. of Pages : 41 Pages

Synopsis
Timetrics 'The Cards and Payments Industry in Lithuania: Emerging Trends and Opportunities to 2021' report provides detailed analysis of market trends in the Lithuanian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including credit transfers, check payments, payment cards, cash transactions and direct debits 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 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 Lithuania: Emerging Trends and Opportunities to 2021' report provides top-level market analysis, information and insights into the Lithuanian cards and payments industry, including:

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

Detailed insights into payment instruments including credit transfers, cash transactions, payment cards, direct debits and checks. 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 Lithuanian 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 of the Lithuanian cards and payments industry.

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

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

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

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

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

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

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

Key Highlights
Lietuvos Bankas the central bank of Lithuania has taken a number of initiatives to bring a larger proportion of the population into the formal financial system. In October 2016, it mandated banks in Lithuania to provide a basket of basic services a checking account, payment card, and electronic banking facility with a minimum of 10 online transfers for a maximum monthly fee of US$1.7 (EUR1.5). For low-income consumers, the monthly charges cannot exceed US$0.83 (EUR0.75).

Lithuania became a member of the EU on January 1, 2015. Its accession means Lithuania is required to adopt the Single Euro Payments Area (SEPA) framework, and other regulations that apply to all member states, such as the capping of interchange fees for credit and debit cards at 0.3% and 0.2% respectively. SEPA requirements came into effect from January 2016, and are anticipated to have a major impact on profitability in Lithuanias payment cards market. With interchange fee revenues reduced, issuers are likely to cut card offerings and consumer benefits, and look at new ways to generate revenue.

To protect consumers from financial burdens, the central bank amended responsible lending regulations (RLR) in November 2015. According to the new guidelines, the maximum monthly credit repayment amount cannot exceed more than 40% of the borrowers monthly income, and the maximum maturity of credit cannot exceed 30 years. The regulation was introduced following a survey conducted by the central bank in January 2016, according to which 75% of families with an income below US$388.8 (EUR350) were indebted to credit issuers, and 71.8% of indebted families were unable to save during the last quarter of 2015. The RLR regulation requires card issuers to assess borrowers credit repayment capabilities before issuing credit cards.
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 Medicinos Bankas mobile wallet
5.2.2 Mokipay mobile wallet
5.2.3 Paysafecard
5.2.4 Boku
5.2.5 WoraPay
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 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: Lithuania Key Facts, 2016
Table 4: Regional Benchmarking of Lithuanian Payment Cards, 2016
Table 5: Lithuania Mode of Entry of Foreign Banks
Table 6: Lithuania Debit Cards Comparison and Key Features, 2016
Table 7: Lithuania Gold Credit Cards Comparison and Key Features, 2016
Table 8: Lithuania Premium Credit Cards Comparison and Key Features, 2016
Table 9: Lithuania Payment Instrument Transaction Values (EUR Billion), 20122016
Table 10: Lithuania Payment Instrument Transaction Values (US$ Billion), 20122016
Table 11: Lithuania Payment Instrument Transaction Volumes (Million), 20122016
Table 12: Lithuania Number of Payment Cards in Circulation by Type (Million), 20122021
Table 13: Lithuania Volume of Payment Card Transactions by Type (Million), 20122021
Table 14: Lithuania Value of Payment Card Transactions by Type (EUR Billion), 20122021
Table 15: Lithuania Value of Payment Card Transactions by Type (US$ Billion), 20122021
Table 16: Lithuania Number of Debit Cards in Circulation (Million), 20122021
Table 17: Lithuania Debit Card Transaction Volumes and Frequency by Channel, 20122021
Table 18: Lithuania Debit Card Total and Average Transaction Values by Channel, 20122021
Table 19: Lithuania Debit Card Total and Average Transaction Values by Channel, 20122021
Table 20: Lithuania Number of Debit Cards in Circulation by Scheme (Million), 20122016
Table 21: Lithuania Debit Card Transaction Values by Scheme (EUR Billion), 20122016
Table 22: Lithuania Debit Card Transaction Values by Scheme (US$ Billion), 20122016
Table 23: Lithuania Debit Card Transaction Values by Issuer (EUR Billion), 20122016
Table 24: Lithuania Debit Card Transaction Values by Issuer (US$ Billion), 20122016
Table 25: Lithuania Number of Pay Later Cards in Circulation (Thousand), 20122021
Table 26: Lithuania Pay Later Card Transaction Volumes and Frequency by Channel, 20122021
Table 27: Lithuania Pay Later Card Total and Average Transaction Values by Channel, 20122021
Table 28: Lithuania Pay Later Card Total and Average Transaction Values by Channel, 20122021
Table 29: Lithuania Number of Pay Later Cards in Circulation by Scheme (Thousand), 20122016
Table 30: Lithuania Pay Later Card Transaction Values by Scheme (EUR Million), 20122016
Table 31: Lithuania Pay Later Card Transaction Values by Scheme (US$ Million), 20122016
Table 32: Lithuania Pay Later Card Transaction Values by Issuer (EUR Million), 20122016
Table 33: Lithuania Pay Later Card Transaction Values by Issuer (US$ Million), 20122016
Table 34: Lithuania Personal and Commercial Pay Later Card Transaction Volumes (Million), 20122021
Table 35: Lithuania Personal and Commercial Pay Later Card Transaction Values (EUR Million), 20122021
Table 36: Lithuania Personal and Commercial Pay Later Card Transaction Values (US$ Million), 20122021
Table 37: Lithuania Number of Commercial Pay Later Cards in Circulation (Thousand), 20122021
Table 38: Lithuania Commercial Pay Later Card Transaction Volumes (Million), 20122021
Table 39: Lithuania Commercial Pay Later Card Transaction Values (EUR Million), 20122021
Table 40: Lithuania Commercial Pay Later Card Transaction Values (US$ Million), 20122021

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

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