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The Cards and Payments Industry in the Philippines: Emerging Trends and Opportunities to 2019

Published By :

Timetric

Published Date : Mar 2016

Category :

Banking

No. of Pages : 56 Pages

Synopsis

Timetrics 'The Cards and Payments Industry in the Philippines: Emerging Trends and Opportunities to 2019' report provides detailed analysis of market trends in the Philippine cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including check payments, payment cards and cash transactions during the review period (20102014).

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 (20152019). 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 detailed regulatory policies and recent changes in regulatory structure.

Summary

  • Timetrics 'The Cards and Payments Industry in the Philippines: Emerging Trends and Opportunities to 2019' report provides top-level market analysis, information and insights into the Philippine cards and payments industry, including:
  • Current and forecast values for each market in the Philippine cards and payments industry, including debit card, credit and charge cards. It also includes detailed analysis of the prepaid card market.
  • Detailed insights into payment instruments including cash transactions, checks and payment cards. It also, includes an overview of the country's key alternative payment instruments.
  • E-commerce market analysis and online payment types.
  • Analysis of various market drivers and regulations governing the Philippine 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 of the Philippine cards and payments industry.

Scope

  • This report provides a comprehensive analysis of the Philippines cards and payments industry.
  • It provides current values for the Philippine cards and payments industry for 2014, and forecast figures to 2019.
  • It details the different demographic, economic, infrastructural and business drivers affecting the Philippine 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 Philippine cards and payments industry and each market within it.
  • Understand the key market trends and growth opportunities in the Philippine cards and payments industry.
  • Assess the competitive dynamics in the Philippine cards and payments industry.
  • Gain insights into marketing strategies used for various card types in the Philippines.
  • Gain insights into key regulations governing the Philippine cards and payments industry.

Key Highlights

  • To capitalize on the increasing uptake of mobile point-of-sale (mPOS) solutions among small and medium merchants such as insurance agents and food-delivery businesses, solution providers are offering low-cost mPOS services. For instance, Swiff, a mobile payment technology provider signed an agreement with G-Xchange, a mobile payment and remittance service provider in March 2014 to introduce Globe Charge, an mPOS service in the Philippines. Globe Charge is an Europay, MasterCard, and Visa (EMV) Level 2-certified service offering merchants different payment acceptance options including chip and PIN, chip and sign, and swipe and sign. Similarly, car-booking company GrabTaxi expanded its cashless payment service by entering into a partnership with Visa in May 2015. This agreement allows GrabTaxi vehicles to carry a Globe Charge terminal enabling passengers to make payments via a Visa debit, credit or prepaid card. The introduction of low-cost terminals is anticipated to encourage merchants to accept card-based payments, further driving payment card transaction volume and values.
  • To provide enhanced card security, the Bangko Sentral ng Pilipinas (BSP) the central bank of the Philippines, in November 2014, made it mandatory for banks to shift from the traditional magnetic stripe to more secure EMV chip cards by January 2017. Following this announcement, BancNet signed an agreement with Visa in February 2015 to accelerate the migration to EMV chip cards for all domestic transactions. In addition to cards, the migration process ensures that ATMs and POS terminals are compliant with the EMV standards. The increasing adoption of security measures is expected to encourage consumers to carry out more card-based transactions.
  • Banks in the Philippines are offering bank accounts and debit cards enabling beneficiaries at home to receive funds to capitalize on the rising inflow of remittances from Filipinos residing abroad. A number of banks, including Banco de Oro, the Land Bank of the Philippines and the Philippines National Bank, have started offering remittance debit cards. More recently in September 2015, the Land Bank of the Philippines formed a partnership with Trans-Fast Remittance LLC, a provider of multi-currency cross-border payments solutions to enable Trans-Fast customers worldwide to make real-time instant money transfers into Land Bank accounts in the Philippines. The rising inflow of remittances is expected to increase demand for bank accounts and remittance debit cards.

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 GCash
6.1.2 PayPal
6.1.3 Smart Money
6.1.4 Dragonpay

7 Regulations in the Cards and Payments Industry
7.1 Regulatory Framework
7.1.1 Prohibited credit card debt collection practices
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 and New Product Launches
9.1 Market Segmentation and Targeting
9.1.1 Consumer cards
9.1.2 Commercial cards
9.2 New Product Launches

10 Payment Cards
10.1 Payment Cards Market Analysis
10.1.1 Volume and value of payment card transactions by type
10.1.2 Personal vs commercial cards

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 values
11.1.3 Debit cards comparison

12 Credit Cards
12.1 Credit Card Market Analysis
12.1.1 Credit card transaction volumes and values by channel
12.1.2 Credit card scheme and issuer shares in terms of transaction value
12.1.3 Credit cards comparison

13 Charge Cards
13.1 Charge Card Market Analysis
13.1.1 Charge card transaction volumes and values by channel
13.1.2 Charge card scheme shares in terms of transaction values

14 Commercial Cards
14.1 Commercial Card Market Analysis
14.1.1 Commercial cards comparison

15 Prepaid Cards
15.1 Prepaid Card Market Analysis
15.1.1 Prepaid cards comparison

16 Appendix
16.1 Tables
16.2 Contact Timetric
16.3 About Timetric
16.4 Timetrics Services
16.5 Disclaimer

List of Table

Table 1: Key Definitions
Table 2: Annual Average Exchange Rate
Table 3: The Philippines Key Facts, 2014
Table 4: Regional Benchmarking of Philippine Payment Cards, 2014
Table 5: The Philippines Mode of Entry of Foreign Banks
Table 6: Cards for High-Income Consumers, 2016
Table 7: Cards for Travelers, 2016
Table 8: Cards for Shoppers, 2016
Table 9: Commercial Cards Comparison and Key Features, 2016
Table 10: The Philippines New Product Launches
Table 11: The Philippines Debit Card Comparisons and Key Features, 2016
Table 12: The Philippines Gold Credit Cards Comparison and Key Features, 2016
Table 13: The Philippines Premium Credit Cards Comparison and Key Features, 2016
Table 14: The Philippines Commercial Card Comparisons and Key Features, 2016
Table 15: The Philippines Prepaid Card Comparisons and Key Features, 2016
Table 16: The Philippines Payment Instrument Transaction Values (PHP Billion), 20102014
Table 17: The Philippines Payment Instrument Transaction Values (US$ Billion), 20102014
Table 18: The Philippines Payment Instrument Transaction Volumes (Million), 20102014
Table 19: The Philippines Number of Payment Cards in Circulation by Type (Million), 20102019
Table 20: The Philippines Volume of Payment Card Transactions by Type (Million), 20102019
Table 21: The Philippines Value of Payment Card Transactions by Type (PHP Billion), 20102019
Table 22: The Philippines Value of Payment Card Transactions by Type (US$ Billion), 20102019
Table 23: The Philippines Personal and Commercial Card Transaction Volumes ( Million), 20102019
Table 24: The Philippines Personal and Commercial Card Transaction Values (PHP Billion), 20102019
Table 25: The Philippines Personal and Commercial Card Transaction Values (US$ Billion), 20102019
Table 26: The Philippines Number of Debit Cards in Circulation (Million), 20102019
Table 27: The Philippines Debit Card Transaction Volumes and Frequency by Channel, 20102019
Table 28: The Philippines Debit Card Total and Average Transaction Values by Channel, 20102019
Table 29: The Philippines Debit Card Total and Average Transaction Values by Channel, 20102019
Table 30: The Philippines Number of Debit Cards in Circulation by Scheme (Million), 20102014
Table 31: The Philippines Debit Card Transaction Values by Scheme (PHP Billion), 20102014
Table 32: The Philippines Debit Card Transaction Values by Scheme (US$ Billion), 20102014
Table 33: The Philippines Debit Card Transaction Values by Issuer (PHP Billion), 20102014
Table 34: The Philippines Debit Card Transaction Values by Issuer (US$ Billion), 20102014
Table 35: The Philippines Number of Credit Cards in Circulation (Million), 20102019
Table 36: The Philippines Credit Card Transaction Volumes and Frequency by Channel, 20102019
Table 37: The Philippines Credit Card Total and Average Transaction Values by Channel, 20102019
Table 38: The Philippines Credit Card Total and Average Transaction Values by Channel, 20102019
Table 39: The Philippines Number of Credit Cards in Circulation by Scheme (Million), 20102014
Table 40: The Philippines Credit Card Transaction Values by Scheme (PHP Billion), 20102014
Table 41: The Philippines Credit Card Transaction Values by Scheme (US$ Billion), 20102014
Table 42: The Philippines Pay Later Card Transaction Values by Issuer (PHP Billion), 20102014
Table 43: The Philippines Pay Later Card Transaction Values by Issuer (US$ Million), 20102014
Table 44: The Philippines Credit Card Balances Outstanding by Issuer (PHP Billion), 20102014
Table 45: The Philippines Credit Card Balances Outstanding by Issuer (US$ Million), 20102014
Table 46: The Philippines Number of Charge Cards in Circulation (Thousand), 20102019
Table 47: The Philippines Charge Card Transaction Volumes and Frequency by Channel, 20102019
Table 48: The Philippines Charge Card Total and Average Transaction Values by Channel, 20102019
Table 49: The Philippines Charge Card Total and Average Transaction Values by Channel, 20102019
Table 50: The Philippines Number of Charge Cards in Circulation by Scheme (Thousand), 20102014
Table 51: The Philippines Charge Card Transaction Values by Scheme (PHP Billion), 20102014
Table 52: The Philippines Charge Card Transaction Values by Scheme (US$ Million), 20102014
Table 53: The Philippines Number of Commercial Cards in Circulation (Thousand), 20102019
Table 54: The Philippines Commercial Card Transaction Values (PHP Billion), 20102019
Table 55: The Philippines Commercial Card Transaction Values (US$ Billion), 20102019
Table 56: The Philippines Number of Prepaid Cards in Circulation (Million), 20102019
Table 57: The Philippines Prepaid Card Transaction Values (PHP Billion), 20102019
Table 58: The Philippines Prepaid Card Transaction Values (US$ Billion), 20102019

List of Chart

Figure 1: The Philippines Payment Instrument Shares by Transaction Value (%), 2010 and 2014
Figure 2: The Philippines Payment Instrument Shares by Transaction Volume (%), 2010 and 2014
Figure 3: The Philippines E-Commerce Value (US$ Billion) and Payment Types (%)
Figure 4: The Philippines Total Population and Structure
Figure 5: The Philippines Economic Indicators
Figure 6: The Philippines Number of ATMs, POS Terminals and Commercial Bank Branches
Figure 7: The Philippines Real Household Consumption
Figure 8: The Philippines Segmentation by Card Type, 2016
Figure 9: The Philippines Growth in Payment Card Transaction Values and Number of Cards in Circulation by Type, 20102019
Figure 10: The Philippines Volume and Value of Payment Card Transactions by Type (%), 20102019
Figure 11: The Philippines Personal and Commercial Card, Transaction Volumes and Values (%), 20102019
Figure 12: The Philippines Growth in Debit Card Transaction Values and Number of Debit Cards in Circulation, 20102019
Figure 13: The Philippines Debit Card Transaction Volumes and Values by Channel, 20102019
Figure 14: The Philippines Debit Card Scheme and Issuer Shares in Terms of Transaction Values (%), 2014
Figure 15: The Philippines Growth in Credit Card Transaction Values and Number of Credit Cards in Circulation, 20102019
Figure 16: The Philippines Credit Card Transaction Volumes and Values by Channel, 20102019
Figure 17: The Philippines Credit Card Scheme and Issuer Shares in Terms of Transaction Value (%), 2014
Figure 18: The Philippines Growth in Charge Card Transaction Values and Number of Charge Cards in Circulation, 20102019
Figure 19: The Philippines Charge Card Transaction Volumes and Values by Channel, 20102019
Figure 20: The Philippines Charge Card Scheme Shares in Terms of Transaction Values (%), 2014
Figure 21: The Philippines Number of Commercial Cards in Circulation and Transaction Value, 20102019
Figure 22: The Philippines Number of Prepaid Cards in Circulation and Transaction Value, 20102019

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