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Future Trends in Cards and Payments: Key Issues, Innovation and Competition in Europe and the US
Business Insights, Sep 2005
The US and most European countries have seen significant change in the use of non-cash payment instruments in recent years. Card issuers and merchants have been successful in capturing a slice of the profitable consumer payments market. But, what challenges are they facing in the development of widespread card usage? What can issuers do to grow their share of consumer payments? Find out, in this new management report.
'Future Trends in Cards and Payments: Key Issues, Innovation and Competition in Europe and the US' assesses the changing consumer payments landscape, analyzes the development of payment cards and provides country-by-country data on card penetration and usage in the US and 16 European markets. The report examines the types of card fraud, their importance in Europe and the US and the combat initiatives undertaken by the leading players in the cards payments sector.
Use this report's strategic recommendations and growth forecasts to 2008 to increase your share of the consumer payments market.
Examining the hot issues
- Payment card fraud: Counterfeit fraud, or skimming, is increasing as the equipment required to commit the crime has become cheaper and less conspicuous - some countries have developed into skimming hotspots. The importance of information-based anti-fraud solutions to provide an indication of card fraud volumes should not be underestimated.
- Card loyalty schemes: The general trend in the pay now market is towards greater point of sale usage and some banks are further encouraging this growth with loyalty programs. While this will potentially prove expensive, it is a key customer acquisition tool.
- Growth through new customers: Growth potential from conversion of cash acquisitions to pay later cards transactions is limited as a high proportion of transactions are already purchases (93.2% of credit card transactions). Instead, card issuers need to expand into areas where pay later cards are not currently widely used.
- Growth from existing customers: An alternative to growth by increasing total payments on credit cards is to increase proportion of people that revolve balances on a regular basis. However, issuers in both the UK and US have attempted this with limited success.
The answers to your questions
- Which European countries will be hot spots for growth in the pay later cards market?
- What are the card usage and penetration dynamics of pay now and pay later cards in Europe and the US?
- What are the various types of card fraud? How effective are 3-D Secure, Europay MasterCard and Visa (EMV) chip programme and other combat initiatives in Europe and the US?
- What best practice strategies do card issuers need to follow to boost the number and value of card transactions and to ensure long-term growth?
- How effective are loyalty schemes in encouraging greater use of pay later card products?
Why you should order your copy today
- Identify the geographic markets with the greatest growth potential by analyzing consumer behaviour, competitor shares and drawing on country-by-country card usage and penetration statistics.
- Examine the scale of fraud in Europe and the US by reviewing data split by types of fraud that exist and their importance in Europe and the US.
- Analyze the initiatives undertaken by card issuers to tackle fraud such as online card scheme security, address verification systems, Card Security Code (CSC) and follow the progress of EMV-compliant chip cards in Europe and the US.
- Encourage greater point-of-sale card usage with the help of this report's effective growth strategies such as boosting revolving balances, facilitating person-2-person (P2P) payments and more.
- Develop more effective growth strategies based upon this report's examination of geographic expansion, loyalty programs, new payment areas and country-specific growth forecasts to 2008.
This new report will provide you with:
- Payments landscape: of 16 European countries and the US based on comprehensive data from sources including National Banking Associations, Visa EU, MasterCard and APACS.
- Competitive profiles: of the pay now and pay later cards markets including market shares of the top three competitors in each country.
- Fraud initiatives: undertaken in Europe and the US to combat fraud and an evaluation of their effectiveness.
- Detailed card data: on penetration growth, usage and average transaction values for the pay now and pay later cards in the US and European markets.
- Market forecasts: to 2008 for the pay later cards markets across the UK, Denmark, Finland, Norway, Sweden, Austria, Belgium, France, Germany, Greece, Ireland, Italy, Portugal, Spain, Turkey and The Netherlands.
- Key trends and developments: in the cards payments sector, consumer behaviour and competitor moves.
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