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

Published By :

Timetric

Published Date : Oct 2016

Category :

Banking

No. of Pages : 43 Pages

Synopsis

Timetric’s 'The Cards and Payments Industry in Luxembourg: Emerging Trends and Opportunities to 2020' report provides detailed analysis of market trends in Luxembourg's cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including credit transfers, direct ebits, cash transactions and payment cards during the review period (2011–2015).

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 (2016–2020). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.

The report brings together Timetric’s 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

Timetric’s 'The Cards and Payments Industry in Luxembourg: Emerging Trends and Opportunities to 2020' report provides top-level market analysis, information and insights into Luxembourg's cards and payments industry, including:

  • Current and forecast values for each market in Luxembourg's cards and payments industry, including debit and credit cards.
  • Detailed insights into payment instruments including credit transfers, direct debits, cash transactions and payment cards. It also, includes an overview of the country's key alternative payment instruments.
  • E-commerce market analysis and payment methods.
  • Analysis of various market drivers and regulations governing Luxembourg's cards and payments industry.
  • Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.
  • The competitive landscape in Luxembourg's cards and payments industry.

Scope

  • This report provides a comprehensive analysis of Luxembourg's cards and payments industry.
  • It provides current values for Luxembourg's cards and payments industry for 2015, and forecast figures to 2020.
  • It details the different demographic, economic, infrastructural and business drivers affecting Luxembourg'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.

Reasons To Buy

  • Make strategic business decisions, using top-level historic and forecast market data, related to Luxembourg's cards and payments industry and each market within it.
  • Understand the key market trends and growth opportunities in Luxembourg's cards and payments industry.
  • Assess the competitive dynamics in Luxembourg's cards and payments industry.
  • Gain insights into marketing strategies used for various card types in Luxembourg.
  • Gain insights into key regulations governing Luxembourg's cards and payments industry.

Key Highlights

  • The uptake of alternative payments among consumers in Luxembourg is gradually increasing due to the availability of a number of options, such as Digicash, Yapital and PayPal. Digicash, a mobile payment (m-payment) solution, was introduced in 2012, and its scope was expanded in 2015 to offer a person-to-person (P2P) payment service, allowing users to transfer funds to accounts at partner banks. In July 2016, Seqr, a mobile app by the Sweden-based m-payment solution provider, Seamless, was introduced in Luxembourg. The global payment solution provider PayPal expanded its P2P payment service, Xoom, to Luxembourg in April 2016, allowing consumers to transfer funds to a beneficiary with a bank account in Luxembourg. The emergence of new alternative payment solutions is likely to intensify competition in Luxembourg’s alternative payments market.
  • Contactless technology is gaining traction in Luxembourg, with banks and payment companies introducing new solutions to gain a market share. Retailers are also installing contactless POS terminals to benefit from this trend. According to Visa Europe, there were 7,000 POS terminals with contactless functionality in Luxembourg as of September 2016. All major banks, such as Banque et Caisse Depargne del’ Etat Luxembourg (BCEE), BGL BNP Paribas, Banque Internationale à Luxembourg (BIL) and Banque de Luxembourg (BL) are now offering contactless payment cards.
  • To adhere to the Single Euro Payment Area (SEPA) regulations, banks in Luxembourg abandoned the Bancomat debit card scheme at the end of 2011, and all the debit cards were replaced by V PAY debit cards from 2012. A number of banks – including Banque BCP à Luxembourg, Bank Luxembourg SA, BCEE, Raiffeisen Bank, ING Luxembourg and KBL European Private Bankers SA – offer V PAY 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

5 E-COMMERCE AND ALTERNATIVE PAYMENTS

5.1 E-Commerce Market and Payment Methods
5.2 Alternative Payment Solutions
5.2.1 Digicash
5.2.2 Cashcloud wallet
5.2.3 Yapital
5.2.4 PayPal
5.2.5 Seqr
5.2.6 Paysafecard

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 Debit Card Scheme and Issuer Shares
9.3 Debit Cards Comparison

10 PAY LATER CARDS
10.1 Pay Later Cards Market Analysis
10.2 Pay Later Cards Scheme and Issuer Shares
10.3 Pay Later Cards Comparison

11 APPENDIX
11.1 Tables
11.2 Contact Timetric
11.3 About Timetric
11.4 Timetric’s Services
11.5 Disclaimer

List of Table

Table 1: Key Definitions
Table 2: Annual Average Exchange Rate
Table 3: Luxembourg – Key Facts, 2015
Table 4: Regional Benchmarking of Luxembourg’s Payment Cards, 2015
Table 5: Luxembourg – Mode of Entry of Foreign  Banks
Table 6: Luxembourg – Debit Cards Comparison and Key Features, 2016
Table 7: Luxembourg – Gold Credit Cards Comparison and Key Features, 2016
Table 8: Luxembourg – Premium Credit Cards Comparison and Key Features, 2016
Table 9: Luxembourg – Payment Instrument Transaction Values (EUR Billion), 2011–2015
Table 10: Luxembourg – Payment Instrument Transaction Values (US$ Billion), 2011–2015
Table 11: Luxembourg – Payment Instrument Transaction Volumes (Million), 2011–2015
Table 12: Luxembourg – Number of Payment Cards in Circulation by Type (Thousand), 2011–2020
Table 13: Luxembourg – Volume of Payment Card Transactions by Type (Million), 2011–2020
Table 14: Luxembourg – Value of Payment Card Transactions by Type (EUR Billion), 2011–2020
Table 15: Luxembourg – Value of Payment Card Transactions by Type (US$ Billion), 2011–2020
Table 16: Luxembourg – Number of Debit Cards in Circulation (Thousand), 2011–2020
Table 17: Luxembourg – Debit Card Transaction Volumes and Frequency by Channel, 2011–2020
Table 18: Luxembourg – Debit Card Total and Average Transaction Values by Channel, 2011–2020
Table 19: Luxembourg – Debit Card Total and Average Transaction Values by Channel, 2011–2020
Table 20: Luxembourg – Number of Debit Cards in Circulation by Scheme (Thousand), 2011–2015
Table 21: Luxembourg – Debit Card Transaction Values by Scheme (EUR Billion), 2011–2015
Table 22: Luxembourg – Debit Card Transaction Values by Scheme (US$ Billion), 2011–2015
Table 23: Luxembourg – Debit Card Transaction Values by Issuer (EUR Million), 2011–2015
Table 24: Luxembourg – Debit Card Transaction Values by Issuer (US$ Million), 2011–2015
Table 25: Luxembourg – Number of Pay Later Cards in Circulation (Thousand), 2011–2020
Table 26: Luxembourg – Pay Later Card Transaction Volumes and Frequency by Channel, 2011–2020
Table 27: Luxembourg – Pay Later Card Total and Average Transaction Values by Channel, 2011–2020
Table 28: Luxembourg – Pay Later Card Total and Average Transaction Values by Channel, 2011–2020
Table 29: Luxembourg – Number of Pay Later Cards in Circulation by Scheme (Thousand), 2011–2015
Table 30: Luxembourg – Pay Later Card Transaction Values by Scheme (EUR Billion), 2011–2015
Table 31: Luxembourg – Pay Later Card Transaction Values by Scheme (US$ Billion), 2011–2015
Table 32: Luxembourg – Pay Later Card Transaction Values by Issuer (EUR Billion), 2011–2015
Table 33: Luxembourg – Pay Later Card Transaction Values by Issuer (US$ Billion), 2011–2015
Table 34: Luxembourg – Personal and Commercial Pay Later Card Transaction Volumes (Million), 2011–2020
Table 35: Luxembourg – Personal and Commercial Pay Later Card Transaction Values (EUR Billion), 2011–2020
Table 36: Luxembourg – Personal and Commercial Pay Later Card Transaction Values (US$ Billion), 2011–2020
Table 37: Luxembourg – Number of Commercial Pay Later Cards in Circulation (Thousand), 2011–2020
Table 38: Luxembourg – Commercial Pay Later Card Transaction Volumes (Million), 2011–2020
Table 39: Luxembourg – Commercial Pay Later Card Transaction Values (EUR Million), 2011–2020
Table 40: Luxembourg – Commercial Pay Later Card Transaction Values (US$ Million), 2011–2020

List of Chart

Figure 1: Luxembourg – Payment Instrument Shares by Transaction Value (%), 2011 vs. 2015
Figure 2: Luxembourg – Payment Instrument Shares by Transaction Volume (%), 2011 vs. 2015
Figure 3: Luxembourg – E-Commerce Value, 2011–2020
Figure 4: Luxembourg – Population
Figure 5: Luxembourg – Economic Indicators
Figure 6: Luxembourg – ATMs and POS Terminals
Figure 7: Luxembourg – Household Consumption
Figure 8: Luxembourg – Growth in Payment Card Transaction Values and Number of Cards in Circulation by Type, 2011–2020
Figure 9: Luxembourg – Debit Card Penetration and Turnover Per Card
Figure 10: Luxembourg – Debit Card Scheme and Issuer Shares in Terms of Transaction Value (%), 2015
Figure 11: Luxembourg – Pay Later Cards Penetration and Turnover Per Card
Figure 12: Luxembourg – Pay Later Card Scheme and Issuer Shares in Terms of Transaction Value (%), 2015

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