The Cards and Payments Industry in Bulgaria: Emerging Trends and Opportunities to 2020

Synopsis
Timetric's 'The Cards and Payments Industry in Bulgaria: Emerging Trends and Opportunities to 2020' report provides detailed analysis of market trends in the Bulgarian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash transactions, credit transfers, direct debits and payment cards during the review period (2011-2015).

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 (2016-2020). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.

The report brings together Timetric's 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
Timetric's 'The Cards and Payments Industry in Bulgaria: Emerging Trends and Opportunities to 2020' report provides top-level market analysis, information and insights into the Bulgarian cards and payments industry, including:

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

• Detailed insights into payment instruments including cash transactions, credit transfers, direct debits and payment cards. It also, includes an overview of the country's key alternative payment instruments.

• E-commerce market analysis.

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

• Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.

• Comprehensive analysis of consumer attitudes and buying preferences for cards.

• The competitive landscape in Bulgarian cards and payments industry.
Scope
• This report provides a comprehensive analysis of the Bulgarian cards and payments industry.

• It provides current values for the Bulgarian cards and payments industry for 2015, and forecast figures to 2020.

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

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

• Assess the competitive dynamics in the Bulgarian cards and payments industry.

• Gain insights into marketing strategies used for various card types in Bulgaria.

• Gain insights into key regulations governing the Bulgarian cards and payments industry.
Key Highlights
• The Bulgarian National Bank (BNB), the central bank of Bulgaria, implemented the EU rule on interchange fees in 2014, capping the interchange fees for credit and debit cards at 0.3% and 0.2% respectively. As a result, merchants are expected to benefit from lower transaction costs. The regulation is anticipated to impact profitability in the Bulgarian payment cards market. With a reduction in revenue, issuers are likely to cut card offerings and benefits for consumers, and look at new ways to generate revenue.
                                                                                                                                                                                                                                                                            
• Contactless technology is gaining traction in Bulgaria, with leading banks such as Unicredit Bulbank, DSK Bank, UBB, Fibank and Raiffeisenbank now offering contactless cards in the country. By the end of 2015, Unicredit Bulbank had issued 500,000 contactless cards. Of the 20,000 POS terminal installations by the bank, 12,000 were enabled with contactless functionality. In 2015, the bank equipped six Sofia Metropolitan stations with 10 unattended ticketing machines, all enabled for contactless payments. The rising adoption of contactless technology is anticipated to drive payment card transaction volumes.

• Banks in Bulgaria are now launching mobile wallets to offer convenient banking services to consumers. First Investment Bank AD (Fibank) launched its mobile wallet in April 2016, equipped with NFC contactless and MasterCard's certified Host Card Emulation (HCE) technology. The users can add card details to the wallet for future transactions. In May 2016, Postbank launched the m-Postbank mobile wallet, allowing consumers to perform online transactions.