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

Published By :

Timetric

Published Date : Nov 2016

Category :

Cards & Payments

No. of Pages : 58 Pages

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

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

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

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

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

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

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

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

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

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

Key Highlights
To minimize cash handling costs, banks in Norway are slowly adapting their branches into cashless locations. In 2014, 64 branches of DNB Bank were made cashless. Similarly, Nordea bank stopped handling cash-based transactions at its branches from October 2015, although it ensures that cash is still available in ATMs. This initiative is anticipated to accelerate the shift towards electronic payments.

The uptake of alternative payments among Norwegian consumers is gaining traction with the emergence of a number of payment options. Seqr was launched in January 2013, and was followed by MeaWallet in October 2014. In October 2015, SpareBank 1 acquired mCash. At the time of its acquisition, mCash had 100,000 users and 600 stores accepting the mCash service. To increase the uptake of its mobile payments, Danske Bank launched MobilePay in September 2015. The bank partnered with 100 retail outlets in Norway in October 2015. In early 2016, it partnered with supermarket chain Rema 1000, allowing users to use service stores in Norway.

DNB Bank launched the countrys first mobile person to person (P2P) solution, Vipps, in May 2016. Payments can be made by the user to the recipients mobile number without the need for bank account details. Users need to link together their mobile number, debit card, bank account and national identity number to use the service. Within six months of its introduction, more than 1 million users had downloaded the app onto their mobile phones. As of March 2016, one in four Norwegians used this solution. The solution can be used by any bank account holder in the country.
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 PayPal
5.2.2 MobilePay
5.2.3 Vipps
5.2.4 Klarna
5.2.5 Ukash
5.2.6 MasterPass
5.2.7 Seqr
5.2.8 mCash
5.2.9 MeaWallet
5.2.10 PayByBill
6 Regulation in the Cards and Payments Industry
6.1 Regulatory Framework
6.1.1 SEPA cards framework
6.1.2 Interchange fee regulation
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 Card Issuers
11.1 DNB Bank
11.2 Nordea Bank
11.3 Danske Bank
11.4 Handelsbanken
11.5 Skandinaviska Enskilda Banken (SEB)
12 Prepaid Cards
13 Merchant Acquiring
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: Norway Key Facts, 2016
Table 4: Regional Benchmarking of the Norwegian Payment Cards, 2016
Table 5: Norway Mode of Entry of Foreign Banks
Table 6: Norway Debit Cards Comparison and Key Features, 2016
Table 7: Norway Gold Credit Cards Comparison and Key Features, 2016
Table 8: Norway Premium Credit Cards Comparison and Key Features, 2016
Table 9: Norway Charge Cards Comparison and Key Features, 2016
Table 10: Norway Payment Instrument Transaction Values (NOK Billion), 20122016
Table 11: Norway Payment Instrument Transaction Values (US$ Billion), 20122016
Table 12: Norway Payment Instrument Transaction Volumes (Million), 20122016
Table 13: Norway Number of Payment Cards in Circulation by Type (Million), 20122021
Table 14: Norway Volume of Payment Card Transactions by Type (Million), 20122021
Table 15: Norway Value of Payment Card Transactions by Type (NOK Billion), 20122021
Table 16: Norway Value of Payment Card Transactions by Type (US$ Billion), 20122021
Table 17: Norway Number of Debit Cards in Circulation (Million), 20122021
Table 18: Norway Debit Card Transaction Volumes and Frequency by Channel, 20122021
Table 19: Norway Debit Card Total and Average Transaction Values by Channel, 20122021
Table 20: Norway Debit Card Total and Average Transaction Values by Channel, 20122021
Table 21: Norway Number of Debit Cards in Circulation by Scheme (Million), 20122016
Table 22: Norway Debit Card Transaction Values by Scheme (NOK Billion), 20122016
Table 23: Norway Debit Card Transaction Values by Scheme (US$ Billion), 20122016
Table 24: Norway Debit Card Transaction Values by Issuer (NOK Billion), 20122016
Table 25: Norway Debit Card Transaction Values by Issuer (US$ Billion), 20122016
Table 26: Norway Number of Pay Later Cards in Circulation (Million), 20122021
Table 27: Norway Pay Later Card Transaction Volumes and Frequency by Channel, 20122021
Table 28: Norway Pay Later Card Total and Average Transaction Values by Channel, 20122021
Table 29: Norway Pay Later Card Total and Average Transaction Values by Channel, 20122021
Table 30: Norway Number of Pay Later Cards in Circulation by Scheme (Million), 20122016
Table 31: Norway Pay Later Card Transaction Values by Scheme (NOK Billion), 20122016
Table 32: Norway Pay Later Card Transaction Values by Scheme (US$ Billion), 20122016
Table 33: Norway Pay Later Card Transaction Values by Issuer (NOK Billion), 20122016
Table 34: Norway Pay Later Card Transaction Values by Issuer (US$ Billion), 20122016
Table 35: Norway Number of Credit Cards in Circulation (Million), 20122021
Table 36: Norway Credit Card Transaction Volumes and Frequency by Channel, 20122021
Table 37: Norway Credit Card Total and Average Transaction Values by Channel, 20122021
Table 38: Norway Credit Card Total and Average Transaction Values by Channel, 20122021
Table 39: Norway Number of Credit Cards in Circulation by Scheme (Million), 20122016
Table 40: Norway Credit Card Transaction Values by Scheme (NOK Billion), 20122016
Table 41: Norway Credit Card Transaction Values by Scheme (US$ Billion), 20122016
Table 42: Norway Number of Charge Cards in Circulation (Thousand), 20122021
Table 43: Norway Charge Card Transaction Volumes and Frequency by Channel, 20122021
Table 44: Norway Charge Card Total and Average Transaction Values by Channel, 20122021
Table 45: Norway Charge Card Total and Average Transaction Values by Channel, 20122021
Table 46: Norway Number of Charge Cards in Circulation by Scheme (Thousand), 20122016
Table 47: Norway Charge Card Transaction Values by Scheme (NOK Billion), 20122016
Table 48: Norway Charge Card Transaction Values by Scheme (US$ Billion), 20122016
Table 49: Norway Personal and Commercial Pay Later Card Transaction Volumes (Million), 20122021
Table 50: Norway Personal and Commercial Pay Later Card Transaction Values (NOK Billion), 20122021
Table 51: Norway Personal and Commercial Pay Later Card Transaction Values (US$ Billion), 20122021
Table 52: Norway Number of Commercial Pay Later Cards in Circulation (Thousand), 20122021
Table 53: Norway Commercial Pay Later Card Transaction Volumes (Million), 20122021
Table 54: Norway Commercial Pay Later Card Transaction Values (NOK Billion), 20122021
Table 55: Norway Commercial Pay Later Card Transaction Values (US$ Billion), 20122021
Table 56: Norway Number of Prepaid Cards in Circulation (Thousand), 20122021
Table 57: Norway Prepaid Card Transaction Values (NOK Million), 20122021
Table 58: Norway Prepaid Card Transaction Values (US$ Million), 20122021
Table 59: Norway Merchant Acquiring Transaction Volumes (Billion), 20112020
Table 60: Norway Merchant Acquiring Transaction Values (NOK Billion), 20112020
Table 61: Norway Merchant Acquiring Transaction Values (US$ Billion), 20112020
Table 62: Norway Acquirers Transaction Volumes (Million), 20112015
Table 63: Norway Acquirers Transaction Values (NOK Billion), 20112015
Table 64: Norway Acquirers Transaction Values (US$ Billion), 20112015
Table 65: Norway Retail Outlets and Card Accepting Merchants (Thousand), 20112020
Table 66: Norway Debit Card, Average Interchange Fees: Intra-Network Transactions (%), 20112015
Table 67: Norway Debit Card, Average Merchant Service Charge and Interchange Fee (%), 20112020
Table 68: Norway Pay Later Card, Average Interchange Fees: Intra-Network Transactions (%), 20112015
Table 69: Norway Pay Later Card, Average Merchant Service Charge and Interchange Fee (%), 20112020

List of Figures
Figure 1: Norway Payment Instrument Shares by Transaction Value (%), 2012 vs. 2016
Figure 2: Norway Payment Instrument Shares by Transaction Volume (%), 2012 vs. 2016
Figure 3: Norway E-Commerce Value, 20122021
Figure 4: Norway E-Commerce Payment Methods, 2016
Figure 5: Norway Population
Figure 6: Norway Economic Indicators
Figure 7: Norway ATMs and POS Terminals
Figure 8: Norway Household Consumption
Figure 9: Norway Growth in Payment Card Transaction Values, 20122021
Figure 10: Norway Number of Cards in Circulation by Type, 20122021
Figure 11: Norway Debit Card Penetration, 2016
Figure 12: Norway Turnover Per Debit Card, 2016
Figure 13: Norway Debit Card Scheme Share in Terms of Transaction Value, 2016
Figure 14: Norway Debit Card Issuer Share in Terms of Transaction Value, 2016
Figure 15: Norway Pay Later Card Penetration, 2016
Figure 16: Norway Turnover Per Pay Later Card, 2016
Figure 17: Norway Pay Later Card Scheme Share in Terms of Transaction Value, 2016
Figure 18: Norway Pay Later Card Issuer Share in Terms of Transaction Value, 2016
Figure 19: Norway Number of Prepaid Cards in Circulation, 20122021
Figure 20: Norway Prepaid Cards Transaction Value, 20122021
Figure 21: Norway Merchant Acquiring Transaction Volume and Value, 20112020
Figure 22: Norway Acquirers Market Share in Terms of Transaction Value and Volume (%), 2015
Figure 23: Norway Average Merchant Service Charge and Interchange Fee (%), 20112020

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