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

Published By :

Timetric

Published Date : Dec 2016

Category :

Cards & Payments

No. of Pages : 55 Pages

Synopsis
Timetrics 'The Cards and Payments Industry in the Philippines: Emerging Trends and Opportunities to 2021' report provides detailed analysis of market trends in the Filipino 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 (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 the Philippines: Emerging Trends and Opportunities to 2021' report provides top-level market analysis, information and insights into the Filipino cards and payments industry, including:

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

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 payment methods.

Analysis of various market drivers and regulations governing the Filipino 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 Filipino cards and payments industry.

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

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

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

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

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

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

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

Key Highlights
The central bank, in November 2014 made it mandatory for banks to shift from the traditional magnetic stripe to more secure Europay, MasterCard, and Visa (EMV) chip cards by January 2017. Following the 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 EMV standards. The increasing adoption of security measures is expected to encourage consumers to carry out more card-based transactions.

The Filipino government in June 2016 approved a new bill aimed at regulating the credit card market by bringing it under the regulatory control of the central bank. The proposal will be enacted into law once it receives approval from the President. It will empower the central bank to supervise all credit card issuers and acquirers operating in the country. It also mandates credit card issuers to reveal the number of potential and current cardholders and list all fees charged for late payments. Violation of this regulation attracts a fine of US$1,060.24,240.9 (PHP50,000200,000) or imprisonment of two-to-10 years, or both, as determined by the central bank's monetary board.

Due to growing credit card debt, the central government and Credit Card Association of the Philippines launched an Interbank Debt Relief Program in June 2016. The program was developed to help those in debt by offering affordable repayment plans, lower interest rates and reducing the equal monthly amortization, thereby preventing further deferral of payments. For individuals in deep debt, the repayment period can be extended by up to 10 years, with monthly interest rates at 1.5% or lower. In March 2016, six new credit bureaus were given permission to begin operating in 2017. Of the six, five are foreign companies Compuscan (South Africa), Dun and Bradstreet (US), Crif (Italy), TransUnion (US) and Credit Bureau Singapore.
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 GCash
5.2.3 Straight2Bank wallet
5.2.4 Dragonpay
5.2.5 Smart Money
5.2.6 Fortumo
5.2.7 PayMaya
6 REGULATIONS IN THE CARDS AND PAYMENTS INDUSTRY
6.1 Regulatory 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 PREPAID CARDS
12 APPENDIX
12.1 Tables
12.2 Contact Timetric
12.3 About Timetric
12.4 Timetrics Services
12.5 Disclaimer

List of Tables
Table 1: Key Definitions
Table 2: Annual Average Exchange Rate
Table 3: Philippines Key Facts, 2016
Table 4: Regional Benchmarking of the Philippines Payment Cards, 2016
Table 5: Philippines Mode of Entry of Foreign Banks
Table 6: Philippines Debit Cards Comparison and Key Features, 2016
Table 7: Philippines Gold Credit Cards Comparison and Key Features, 2016
Table 8: Philippines Premium Credit Cards Comparison and Key Features, 2016
Table 9: Philippines Charge Cards Comparison and Key Features, 2016
Table 10: Philippines Payment Instrument Transaction Values (PHP Billion), 20122016
Table 11: Philippines Payment Instrument Transaction Values (US$ Billion), 20122016
Table 12: Philippines Payment Instrument Transaction Volumes (Million), 20122016
Table 13: Philippines Number of Payment Cards in Circulation by Type (Million), 20122021
Table 14: Philippines Volume of Payment Card Transactions by Type (Million), 20122021
Table 15: Philippines Value of Payment Card Transactions by Type (PHP Billion), 20122021
Table 16: Philippines Value of Payment Card Transactions by Type (US$ Billion), 20122021
Table 17: Philippines Number of Debit Cards in Circulation (Million), 20122021
Table 18: Philippines Debit Card Transaction Volumes and Frequency by Channel, 20122021
Table 19: Philippines Debit Card Total and Average Transaction Values by Channel, 20122021
Table 20: Philippines Debit Card Total and Average Transaction Values by Channel, 20122021
Table 21: Philippines Number of Debit Cards in Circulation by Scheme (Million), 20122016
Table 22: Philippines Debit Card Transaction Values by Scheme (PHP Billion), 20122016
Table 23: Philippines Debit Card Transaction Values by Scheme (US$ Billion), 20122016
Table 24: Philippines Debit Card Transaction Values by Issuer (PHP Billion), 20122016
Table 25: Philippines Debit Card Transaction Values by Issuer (US$ Billion), 20122016
Table 26: Philippines Number of Pay Later Cards in Circulation (Million), 20122021
Table 27: Philippines Pay Later Card Transaction Volumes and Frequency by Channel, 20122021
Table 28: Philippines Pay Later Card Total and Average Transaction Values by Channel, 20122021
Table 29: Philippines Pay Later Card Total and Average Transaction Values by Channel, 20122021
Table 30: Philippines Number of Pay Later Cards in Circulation by Scheme (Million), 20122016
Table 31: Philippines Pay Later Card Transaction Values by Scheme (PHP Billion), 20122016
Table 32: Philippines Pay Later Card Transaction Values by Scheme (US$ Billion), 20122016
Table 33: Philippines Pay Later Card Transaction Values by Issuer (PHP Billion), 20122016
Table 34: Philippines Pay Later Card Transaction Values by Issuer (US$ Billion), 20122016
Table 35: Philippines Number of Credit Cards in Circulation (Million), 20122021
Table 36: Philippines Credit Card Transaction Volumes and Frequency by Channel, 20122021
Table 37: Philippines Credit Card Total and Average Transaction Values by Channel, 20122021
Table 38: Philippines Credit Card Total and Average Transaction Values by Channel, 20122021
Table 39: Philippines Number of Credit Cards in Circulation by Scheme (Million), 20122016
Table 40: Philippines Credit Card Transaction Values by Scheme (PHP Billion), 20122016
Table 41: Philippines Credit Card Transaction Values by Scheme (US$ Billion), 20122016
Table 42: Philippines Number of Charge Cards in Circulation (Thousand), 20122021
Table 43: Philippines Charge Card Transaction Volumes and Frequency by Channel, 20122021
Table 44: Philippines Charge Card Total and Average Transaction Values by Channel, 20122021
Table 45: Philippines Charge Card Total and Average Transaction Values by Channel, 20122021
Table 46: Philippines Number of Charge Cards in Circulation by Scheme (Thousand), 20122016
Table 47: Philippines Charge Card Transaction Values by Scheme (PHP Billion), 20122016
Table 48: Philippines Charge Card Transaction Values by Scheme (US$ Million), 20122016
Table 49: Philippines Personal and Commercial Pay Later Card Transaction Volumes (Million), 20122021
Table 50: Philippines Personal and Commercial Pay Later Card Transaction Values (PHP Billion), 20122021
Table 51: Philippines Personal and Commercial Pay Later Card Transaction Values (US$ Billion), 20122021
Table 52: Philippines Number of Commercial Pay Later Cards in Circulation (Thousand), 20122021
Table 53: Philippines Commercial Pay Later Card Transaction Volumes (Million), 20122021
Table 54: Philippines Commercial Pay Later Card Transaction Values (PHP Billion), 20122021
Table 55: Philippines Commercial Pay Later Card Transaction Values (US$ Billion), 20122021
Table 56: Philippines Number of Prepaid Cards in Circulation (Million), 20122021
Table 57: Philippines Prepaid Card Transaction Values (PHP Billion), 20122021
Table 58: Philippines Prepaid Card Transaction Values (US$ Billion), 20122021

List of Figures
Figure 1: Philippines Payment Instrument Shares by Transaction Value (%), 2012 vs. 2016
Figure 2: Philippines Payment Instrument Shares by Transaction Volume (%), 2012 vs. 2016
Figure 3: Philippines E-Commerce Value, 20122021
Figure 4: Philippines E-Commerce Payment Methods, 2016
Figure 5: Philippines Population
Figure 6: Philippines Economic Indicators
Figure 7: Philippines ATMs and POS Terminals
Figure 8: Philippines Household Consumption
Figure 9: Philippines Growth in Payment Cards Transaction Values, 20122016
Figure 10: Philippines Number of Cards in Circulation by Type, 20122016
Figure 11: Philippines Debit Card Penetration, 2016
Figure 12: Philippines Turnover Per Debit Card, 2016
Figure 13: Philippines Debit Cards Scheme Share in Terms of Transaction Value, 2016
Figure 14: Philippines Debit Cards Issuer Share in Terms of Transaction Value, 2016
Figure 15: Philippines Pay Later Cards Penetration, 2016
Figure 16: Philippines Turnover Per Pay Later Card, 2016
Figure 17: Philippines Pay Later Cards Scheme Share in Terms of Transaction Value, 2016
Figure 18: Philippines Pay Later Cards Issuer Share in Terms of Transaction Value, 2016
Figure 19: Philippines Number of Prepaid Cards in Circulation, 20122021
Figure 20: Philippines Prepaid Cards Transaction Value, 20122021

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