The Asia Pacific Payscape 2021: Payment Policy Developments global briefing offers insight into the size and shape of the Consumer Finance market, highlights buzz topics, emerging geographies, categories and trends as well as pressing industry issues and white spaces. It identifies the leading companies and offers strategic analysis of key factors influencing the market. Forecasts provide an invaluable perspective on market evolution and the criteria for success. The briefing leverages The 360-degree coverage of the global payments’ landscape including insight on consumer debt.
Product coverage: Consumer Lending, Financial Cards and Payments.
Data coverage: Market sizes (historic and forecasts), company shares, brand shares and distribution data.
Why buy this report?
- Get a detailed picture of the Consumer Finance market;
- Pinpoint growth sectors and identify factors driving change;
- Understand the competitive environment, the market’s major players and leading brands;
- Use five-year forecasts to assess how the market is predicted to develop.
Allowing for open competition
The development of electronic payment platforms is rapidly accelerating globally. By allowing non-traditional payment companies to develop money transfer platforms, more options have become available to consumers throughout the region.
Consumer protection supports sustainable card utilisation
The need to inform consumers of the risks of excessive credit borrowing are essential to reduce skepticism certain consumer segments may have towards paper payment alternatives. Providing additional security for these consumers can increase the likelihood of making the transition.
Initial cost control required for merchant acceptance
The initial cost of card or electronic payment infrastructure can be enough to discourage merchant acceptance. Providing a degree of financial support, education or limits on the acceptance costs can drive initial acceptance.
Aggressive policy results in unintended consequences that can undermine objectives
Taking currency out of circulation or mandating acceptance might accomplish the short-term objectives of a government, but could have long-term impacts that lead to a reversal of policy or create widespread consumer discontent that ultimately undermines the policy. Developing a balanced approach that includes significant time for implementation has proven more effective.
Communicating the security benefits
Security of card and electronic payments is a fundamental way of getting consumers on board for transition. Investing in communicating the security of the payment channel greatly increases the potential for success.
Effectively using incentives
Increasing the cost of paper payments can accelerate the transition, but can anger consumers. Providing incentives for alternatives is more effective, and allows consumers to readily identify a monetary benefit to switching.