Greeces Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape

Published: May, 2014 | Pages: 107 | Publisher: Timetric
Industry: Financial Services | Report Format: Electronic (PDF)

Synopsis
The report provides top-level market analysis, information and insights into Greece's cards and payments industry, including:
Current and forecast values for each category of Greece's cards and payments industry, including debit cards, credit cards, charge cards and prepaid cards
Comprehensive analysis of the industry's market attractiveness and future growth areas
Analysis of various market drivers and regulations governing Greece's cards and payments industry
Detailed analysis of the marketing strategies adopted for selling debit, credit, charge and prepaid cards used by banks and other institutions in the market
Comprehensive analysis of consumer attitudes and buying preferences for cards
The competitive landscape of Greece's cards and payments industry

Summary
Greece was the most severely affected country by the eurozone crisis, mainly as a result of government overspending, tax evasion and a budget deficit that eventually spiraled out of control. The crisis also affected the entire banking system; most banks faced liquidity problems and loan defaults, which had a direct impact on the card payments channel.
In terms of the number of cards in circulation, the prepaid and debit card categories registered healthy growth at compound annual growth rates (CAGRs) of 15.44% and 3.29% respectively during the review period (2009-2013). With the Greek economy anticipated to recover slowly over the forecast period (2014-2018), the prepaid and debit card categories are expected to grow at a healthy pace and register CAGRs of 21.80% and 4.62% respectively, while the credit and charge card categories continue to decline, albeit more slowly than during the review period.
A well-developed mobile market and the growing popularity of smartphones have led to robust growth in mobile payments (m-payments), which posted a review-period CAGR of 41.55%, increasing from EUR26.2 million (US$36.3 million) in 2009 to EUR105.0 million (US$139.2 million) in 2013. Over the forecast period, the value of m-payments is anticipated to further increase from EUR149.2 million (US$201.2 million) in 2014 to EUR803.0 million (US$1.1 billion) in 2018, at a CAGR of 52.32%.
Banks such as National Bank of Greece (NGB), Alpha Bank and Eurobank Ergasias are partnering with merchants and online retailers to offer secure payment facilities, enabling customers pay online or via mobile phones linked to bank accounts. As a result, e-commerce recorded a review-period CAGR of 43.75% and grew from EUR962.3 million (US$1.3 billion) in 2009 to EUR4.1 billion (US$5.4 billion) in 2013. It is anticipated to post a forecast-period CAGR of 32.94% to reach EUR18.0 billion (US$25.4 billion) by the end of 2018.
Scope
This report provides a comprehensive analysis of Greece's cards and payments industry.
It provides current values for Greece's cards and payments industry for 2013, and forecast figures for 2018.
It details the different economic, infrastructural and business drivers affecting Greece's cards and payments industry.
It outlines the current regulatory framework in the industry.
It details the marketing strategies used by various banks and other institutions.
It profiles the major banks in Greece's cards and payments industry.
Reason To Buy
Make strategic business decisions using top-level historic and forecast market data related to Greece's cards and payments industry and each market within it.
Understand the key market trends and growth opportunities within Greece's cards and payments industry.
Assess the competitive dynamics in Greece's cards and payments industry.
Gain insights in to the marketing strategies used for selling various card types in Greece
Gain insights into key regulations governing Greece's cards and payments industry.
Key Highlights
In terms of the number of cards in circulation, Greece's card payments channel posted a review-period CAGR of -2.92%, decreasing from 15.6 million cards in 2009 to 13.9 million in 2013, and is expected to post a forecast-period CAGR of 4.17% to reach 16.6 million cards in 2018.
In terms of number of cards in circulation, Greece's card payments channel was dominated by the debit cards category in 2013, accounting for 74.3% of the channel. The second-largest channel share was held by credit cards 20.9%, followed by prepaid cards with 4.5%. The charge cards category held the smallest channel share of 0.3%.
In terms of number of cards in circulation, the prepaid cards category is expected to register the highest forecast-period CAGR of 21.80%, while the debit cards category is expected to register the second-highest CAGR of 4.62%. However, the credit and charge card categories are expected to decline at forecast-period CAGRs of -5.64% and -4.16% respectively.
Significant growth in mobile payments is expected to provide substantial scope for card transactions. Mobile payments recorded a review-period CAGR of 41.55%, increasing from EUR26.2 million (US$36.3 million) in 2009 to EUR105.0 million (US$139.2 million) in 2013. In February 2014, Alpha Bank, Vodafone, Visa Europe and First Data together launched a pilot project in Greece, introducing a conceptual mobile wallet app, Tap 'n' Pay. These initiatives are expected to result in further growth for m-payments over the forecast period.
E-commerce value increased significantly from EUR962.3 million (US$1.3 billion) in 2009 to EUR4.1 billion (US$5.4 billion) at a review-period CAGR of 43.75%. Over the forecast period, e-commerce is expected to grow to reach EUR18.0 billion (US$25.4 billion) by the end of 2018, at a CAGR of 32.94%.

 1 Executive Summary
2 Alysis of Market Environment, Key Trends and Drivers
2.1 Payment Infrastructure and Emerging Technologies
2.1.1 Rising internet penetration
2.1.2 Rising mobile penetration and m-payments
2.1.3 Adoption of EMV infrastructure
2.1.4 Point of sale (POS) termils
2.1.5 Near field communication (NFC) and contactless adoption
2.2 Business Drivers
2.2.1 Growth in retail industry
2.2.2 Growth in e-commerce
2.3 Economic Drivers
2.3.1 GDP
2.3.2 GDP per capita
2.3.3 Inflation
3 Cards and Payments Industry Share Alysis
3.1 Industry Overview
3.1.1 Credit transfer
3.1.2 Check payments
3.1.3 Cash transactions
3.1.4 Card transactions
3.1.5 Direct debit
4 Regulatory Framework and Card Fraud Statistics
4.1 Regulatory Framework
4.1.1 Oversight
4.2 SEPA Cards Framework
4.2.1 Anti-money laundering legislation
4.2.2 Foreign direct investment (FDI) regulations
4.3 Card Fraud Statistics
4.3.1 Lost or stolen cards
4.3.2 Card-not-present fraud
4.3.3 Counterfeit card
4.3.4 Card ID theft
5 Emerging Consumer Attitudes and Trends
5.1 Industry Segmentation and Targeting
5.1.1 Retail segment
5.1.2 Corporate segment
5.2 Travel and Tourism Spending
5.2.1 Outbound trips
5.2.2 Outbound tourist spending
5.3 Retail Card Spending
5.3.1 Alysis by product categories
5.3.2 Alysis by retail channels
6 Alysis of Card Payments and Growth Prospects
6.1 Channel Share Alysis by Card Category
6.2 Size and Forecast of the Card Payments Channel
6.2.1 Alysis by number of cards in circulation
6.2.2 Alysis by transaction value
7 Alysis of Credit Card Payments and Growth Prospects
7.1 Overall Category Size and Forecast
7.1.1 Alysis by number of cards in circulation
7.1.2 Alysis by transaction value
7.1.3 Alysis by transaction volume
7.2 Transaction Share Alysis by Channel
7.2.1 Alysis by transaction value
7.2.2 Alysis by transaction volume
7.3 Persol Credit Cards Segment Size and Forecast
7.3.1 Alysis by number of cards in circulation
7.3.2 Alysis by transaction value
7.3.3 Alysis by transaction volume
7.4 Commercial Credit Cards Segment Size and Forecast
7.4.1 Alysis by number of cards in circulation
7.4.2 Alysis by transaction value
7.4.3 Alysis by transaction volume
7.5 Competitive Landscape
7.5.1 Scheme share alysis
7.5.2 Issuer share alysis
8 Alysis of Debit Card Payments and Growth Prospects
8.1 Overall Category Size and Forecast
8.1.1 Alysis by number of cards in circulation
8.1.2 Alysis by transaction value
8.1.3 Alysis by transaction volume
8.2 Transaction Share Alysis by Channel
8.2.1 Alysis by transaction value
8.2.2 Alysis by transaction volume
8.3 Competitive Landscape
8.3.1 Scheme share alysis
8.3.2 Issuer share alysis
9 Alysis of Charge Card Payments and Growth Prospects
9.1 Overall Category Size and Forecast
9.1.1 Alysis by number of cards in circulation
9.1.2 Alysis by transaction value
9.1.3 Alysis by transaction volume
9.2 Transaction Share Alysis by Channel
9.2.1 Alysis by transaction value
9.2.2 Alysis by transaction volume
9.3 Persol Charge Cards Category Size and Forecast
9.3.1 Alysis by number of cards in circulation
9.3.2 Alysis by transaction value
9.3.3 Alysis by transaction volume
9.4 Commercial Charge Cards Segment Size and Forecast
9.4.1 Alysis by number of cards in circulation
9.4.2 Alysis by transaction value
9.4.3 Alysis by transaction volume
9.5 Competitive Landscape
9.5.1 Scheme share alysis
9.5.2 Issuer share alysis
10 Alysis of Prepaid Card Payments and Growth Prospects
10.1 Overall Category Size and Forecast
10.1.1 Alysis by number of cards in circulation
10.1.2 Alysis by transaction value
10.2 Open-Loop Prepaid Cards Segment Size and Forecast
10.2.1 Alysis by number of cards in circulation
10.2.2 Alysis by transaction value
10.3 Closed-Loop Prepaid Cards Segment Size and Forecast
10.3.1 Alysis by number of cards in circulation
10.3.2 Alysis by transaction value
11 Merchant Acquiring
12 Company Profiles of Card Issuers
12.1 tiol Bank of Greece
12.1.1 Key fincials
12.1.2 Card portfolio
12.1.3 Strategies
12.2 Eurobank Ergasias
12.2.1 Key fincials
12.2.2 Card portfolio
12.2.3 Strategies
12.3 Alpha Bank
12.3.1 Key fincials
12.3.2 Card portfolio
12.3.3 Strategies
12.4 Piraeus Bank
12.4.1 Key fincials
12.4.2 Card portfolio
12.4.3 Strategies
12.5 HSBC
12.5.1 Card portfolio
12.5.2 Strategies
13 Appendix
13.1 Methodology
13.2 Contact Timetric
13.3 About Timetric
13.4 Timetric's Services
13.5 Definitions
13.6 Disclaimer


List of Tables
Table 1: Greek Payment Channels (EUR Billion), 2009-2013
Table 2: Market Entry Strategies of Foreign Banks
Table 3: Greek Card Fraud (EUR Million), 2009-2013
Table 4: Cards Offered to High Income Greek Individuals, 2014
Table 5: Greek Shopping Cards, 2014
Table 6: Greek Co-branded Cards, 2014
Table 7: Greek Travel Cards, 2014
Table 8: Greek Virtual Cards, 2014
Table 9: Purchasing Cards Offered for Greek Business Customers
Table 10: Greek Card Spending by Retail Product Category (EUR Million), 2008 and 2012
Table 11: Greek Card Spending by Retail Channel (EUR Million), 2008-2012
Table 12: Greek Card Payments Channel by Card Category (Million), 2009-2018
Table 13: Greek Card Payments Channel Size by Volume of Cards (Million), 2009-2018
Table 14: Greek Card Payments Channel Size by Transaction Value (EUR Billion), 2009-2018
Table 15: Greek Card Payments Channel Size by Transaction Value (US$ Billion), 2009-2018
Table 16: Greek Credit Cards Category Size by Volume of Cards (Million), 2009-2018
Table 17: Greek Credit Cards Category Size by Transaction Value (EUR Billion), 2009-2018
Table 18: Greek Credit Cards Category Size by Transaction Value (US$ Billion), 2009-2018
Table 19: Greek Credit Cards Category Size by Transaction Volume (Million), 2009-2018
Table 20: Greek Persol Credit Cards Segment Size by Volume of Cards (Million), 2009-2018
Table 21: Greek Persol Credit Cards Segment Size by Transaction Value (EUR Billion), 2009-2018
Table 22: Greek Persol Credit Cards Segment Size by Transaction Value (US$ Billion), 2009-2018
Table 23: Greek Persol Credit Cards Segment Size by Transaction Volume (Million), 2009-2018
Table 24: Greek Commercial Credit Cards Segment Size by Volume of Cards (Thousand), 2009-2018
Table 25: Greek Commercial Credit Cards Segment Size by Transaction Value (EUR Million), 2009-2018
Table 26: Greek Commercial Credit Cards Segment Size by Transaction Value (US$ Million), 2009-2018
Table 27: Greek Commercial Credit Cards Segment Size by Transaction Volume (Thousand), 2009-2018
Table 28: Greek Debit Cards Category Size by Volume of Cards (Million), 2009-2018
Table 29: Greek Debit Cards Category Size by Transaction Value (EUR Billion), 2009-2018
Table 30: Greek Debit Cards Category Size by Transaction Value (US$ Billion), 2009-2018
Table 31: Greek Debit Cards Category Size by Transaction Volume (Million), 2009-2018
Table 32: Greek Charge Cards Category Size by Volume of Cards (Thousand), 2009-2018
Table 33: Greek Charge Cards Category Size by Transaction Value (EUR Million), 2009-2018
Table 34: Greek Charge Cards Category Size by Transaction Value (US$ Million), 2009-2018
Table 35: Greek Charge Cards Category Size by Transaction Volume (Million), 2009-2018
Table 36: Greek Persol Charge Cards Segment Size by Volume of Cards (Thousand), 2009-2018
Table 37: Greek Persol Charge Cards Segment Size by Transaction Value (EUR Million), 2009-2018
Table 38: Greek Persol Charge Cards Segment Size by Transaction Value (US$ Million), 2009-2018
Table 39: Greek Persol Charge Cards Segment Size by Transaction Volume (Million), 2009-2018
Table 40: Greek Commercial Charge Cards Segment Size by Volume of Cards (Thousand), 2009-2018
Table 41: Greek Commercial Charge Cards Segment Size by Transaction Value (EUR Million), 2009-2018
Table 42: Greek Commercial Charge Cards Segment Size by Transaction Value (US$ Million), 2009-2018
Table 43: Greek Commercial Charge Cards Segment Size by Transaction Volume (Thousand), 2009-2018
Table 44: Greek Prepaid Cards Category Size by Volume of Cards (Thousand), 2009-2018
Table 45: Greek Prepaid Cards Category Size by Transaction Value (EUR Million), 2009-2018
Table 46: Greek Prepaid Cards Category Size by Transaction Value (US$ Million), 2009-2018
Table 47: Greek Open-Loop Prepaid Cards Segment Size by Volume of Cards (Thousand), 2009-2018
Table 48: Greek Open-Loop Prepaid Cards Segment Size by Transaction Value (EUR Million), 2009-2018
Table 49: Greek Open-Loop Prepaid Cards Segment Size by Transaction Value (US$ Million), 2009-2018
Table 50: Greek Closed-Loop Prepaid Cards Segment Size by Volume of Cards (Thousand), 2009-2018
Table 51: Greek Closed-Loop Prepaid Cards Segment Size by Transaction Value (EUR Million), 2009-2018
Table 52: Greek Closed-Loop Prepaid Cards Segment Size by Transaction Value (US$ Million), 2009-2018
Table 53: NBG - Key Fincial Indicators (EUR Billion), Year Ended December, 2011-2012
Table 54: NBG - Card Portfolio and Key Features
Table 55: Eurobank Ergasias - Key Fincial Indicators (EUR Million), Year Ended December, 2012-2013
Table 56: Eurobank Ergasias - Card Portfolio and Key Features
Table 57: Alpha Bank - Key Fincial Indicators (EUR Million), Year Ended December, 2012-2013
Table 58: Alpha Bank - Card Portfolio and Key Features
Table 59: Piraeus Bank - Key Fincial Indicators (EUR Million), Year Ended December 2011-2012
Table 60: Piraeus Bank - Card Portfolio and Key Features
Table 61: HSBC - Card Portfolio and Key Features
Table 62: Key Definitions