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Payments Landscape in Norway: Opportunities and Risks to 2021

Published By :

GlobalData

Published Date : Oct 2017

Category :

Banking

No. of Pages : N/A

Payments Landscape in Norway: Opportunities and Risks to 2021

Summary

GlobalDatas "Payments Landscape in Norway: Opportunities and Risks 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 debit, cash, payment cards, and cheques during the review-period (2013-17e).

The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2017-21f). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.

The report brings together GlobalDatas 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.

This 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 debit, cheques, cash, 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.

Scope

- The uptake of alternative payments among Norwegian consumers is gaining traction with the emergence of a number of payment options. In September 2017, Alipay was launched in Norway, helping Chinese tourists visiting the country to make payments at partnered networks.
- DNB launched the countrys first mobile P2P solution, Vipps, in May 2015. Payments can be made 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. To ensure a comprehensive single mobile wallet was available to Norwegian consumers, DNB entered into agreements with various service providers to ensure the widespread application of Vipps. In February 2017, 106 Norwegian Banks joined Vipps.
- While not a member of the EU, Norway is party to the European Economic Area (EEA) Agreement. As such, financial market legislation mandated by the EU has to be transposed into Norwegian law. The revised Payment Services Directive (PSD2) was laid out in December 2015, with an implementation deadline of January 2018. PSD2 will update and strengthen the regulations relating to the authentication standards required to make payments. This will include banks adhering to API and third-party account access standards. The aim of the regulation is to simplify payments and accelerate innovation.

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.
Table of Contents
Market Overview
Executive Summary
Card-based Payments
E-commerce Payments
Alternative Payments
Payments Infrastructure & Regulation
Appendix



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