The Cards and Payments Industry in the Philippines: Emerging Trends and Opportunities to 2019

Published: Mar, 2016 | Pages: 56 | Publisher: Timetric
Industry: Financial Services | Report Format: Electronic (PDF)

Synopsis
Timetric's 'The Cards and Payments Industry in the Philippines: Emerging Trends and Opportunities to 2019' report provides detailed analysis of market trends in the Philippine cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including check payments, payment cards and cash transactions during the review period (2010-2014).

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 (2015-2019). It also offers information on the country's competitive landscape, including 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 detailed regulatory policies and recent changes in regulatory structure.

Summary
Timetric's 'The Cards and Payments Industry in the Philippines: Emerging Trends and Opportunities to 2019' report provides top-level market analysis, information and insights into the Philippine cards and payments industry, including:

Current and forecast values for each market in the Philippine cards and payments industry, including debit card, credit and charge cards. It also includes detailed analysis of the prepaid card market.

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

E-commerce market analysis and online payment types.

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

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

Comprehensive analysis of consumer attitudes and buying preferences for cards.

The competitive landscape of the Philippine cards and payments industry.

Scope
This report provides a comprehensive analysis of the Philippines cards and payments industry.

It provides current values for the Philippine cards and payments industry for 2014, and forecast figures to 2019.

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

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

Assess the competitive dynamics in the Philippine cards and payments industry.

Gain insights into marketing strategies used for various card types in the Philippines.

Gain insights into key regulations governing the Philippine cards and payments industry.

Key Highlights
To capitalize on the increasing uptake of mobile point-of-sale (mPOS) solutions among small and medium merchants such as insurance agents and food-delivery businesses, solution providers are offering low-cost mPOS services. For instance, Swiff, a mobile payment technology provider signed an agreement with G-Xchange, a mobile payment and remittance service provider in March 2014 to introduce Globe Charge, an mPOS service in the Philippines. Globe Charge is an Europay, MasterCard, and Visa (EMV) Level 2-certified service offering merchants different payment acceptance options including chip and PIN, chip and sign, and swipe and sign. Similarly, car-booking company GrabTaxi expanded its cashless payment service by entering into a partnership with Visa in May 2015. This agreement allows GrabTaxi vehicles to carry a Globe Charge terminal enabling passengers to make payments via a Visa debit, credit or prepaid card. The introduction of low-cost terminals is anticipated to encourage merchants to accept card-based payments, further driving payment card transaction volume and values.

To provide enhanced card security, the Bangko Sentral ng Pilipinas (BSP) - the central bank of the Philippines, in November 2014, made it mandatory for banks to shift from the traditional magnetic stripe to more secure EMV chip cards by January 2017. Following this announcement, BancNet signed an agreement with Visa in February 2015 to accelerate the migration to EMV chip cards for all domestic transactions. In addition to cards, the migration process ensures that ATMs and POS terminals are compliant with the EMV standards. The increasing adoption of security measures is expected to encourage consumers to carry out more card-based transactions.

Banks in the Philippines are offering bank accounts and debit cards enabling beneficiaries at home to receive funds to capitalize on the rising inflow of remittances from Filipinos residing abroad. A number of banks, including Banco de Oro, the Land Bank of the Philippines and the Philippines National Bank, have started offering remittance debit cards. More recently in September 2015, the Land Bank of the Philippines formed a partnership with Trans-Fast Remittance LLC, a provider of multi-currency cross-border payments solutions to enable Trans-Fast customers worldwide to make real-time instant money transfers into Land Bank accounts in the Philippines. The rising inflow of remittances is expected to increase demand for bank accounts and remittance debit cards.

 Table of Contents
1 Definitions and Methodology
1.1 Definitions
1.2 Methodology
2 Key Facts and Events
3 Executive Summary
4 Payment Instruments
4.1 Current Payment Environment
5 E-Commerce
5.1 E-Commerce Market Analysis
6 Alternative Payments
6.1 Alternative Payment Instruments
6.1.1 GCash
6.1.2 PayPal
6.1.3 Smart Money
6.1.4 Dragonpay
7 Regulations in the Cards and Payments Industry
7.1 Regulatory Framework
7.1.1 Prohibited credit card debt collection practices
7.2 Anti-Money Laundering (AML)
7.3 Foreign Direct Investment (FDI) Regulations
8 Analysis of Cards and Payments Industry Drivers
8.1 Demographic Drivers
8.2 Economic Drivers
8.3 Infrastructure Drivers
8.4 Business Drivers
9 Market Segmentation and New Product Launches
9.1 Market Segmentation and Targeting
9.1.1 Consumer cards
9.1.2 Commercial cards
9.2 New Product Launches
10 Payment Cards
10.1 Payment Cards Market Analysis
10.1.1 Volume and value of payment card transactions by type
10.1.2 Personal vs commercial cards
11 Debit Cards
11.1 Debit Card Market Analysis
11.1.1 Debit card transaction volumes and values by channel
11.1.2 Debit card scheme and issuer shares in terms of transaction values
11.1.3 Debit cards comparison
12 Credit Cards
12.1 Credit Card Market Analysis
12.1.1 Credit card transaction volumes and values by channel
12.1.2 Credit card scheme and issuer shares in terms of transaction value
12.1.3 Credit cards comparison
13 Charge Cards
13.1 Charge Card Market Analysis
13.1.1 Charge card transaction volumes and values by channel
13.1.2 Charge card scheme shares in terms of transaction values
14 Commercial Cards
14.1 Commercial Card Market Analysis
14.1.1 Commercial cards comparison
15 Prepaid Cards
15.1 Prepaid Card Market Analysis
15.1.1 Prepaid cards comparison
16 Appendix
16.1 Tables
16.2 Contact Timetric
16.3 About Timetric
16.4 Timetric's Services
16.5 Disclaimer

List of Tables
Table 1: Key Definitions
Table 2: Annual Average Exchange Rate
Table 3: The Philippines - Key Facts, 2014
Table 4: Regional Benchmarking of Philippine Payment Cards, 2014
Table 5: The Philippines - Mode of Entry of Foreign Banks
Table 6: Cards for High-Income Consumers, 2016
Table 7: Cards for Travelers, 2016
Table 8: Cards for Shoppers, 2016
Table 9: Commercial Cards Comparison and Key Features, 2016
Table 10: The Philippines - New Product Launches
Table 11: The Philippines - Debit Card Comparisons and Key Features, 2016
Table 12: The Philippines - Gold Credit Cards Comparison and Key Features, 2016
Table 13: The Philippines - Premium Credit Cards Comparison and Key Features, 2016
Table 14: The Philippines - Commercial Card Comparisons and Key Features, 2016
Table 15: The Philippines - Prepaid Card Comparisons and Key Features, 2016
Table 16: The Philippines - Payment Instrument Transaction Values (PHP Billion), 2010-2014
Table 17: The Philippines - Payment Instrument Transaction Values (US$ Billion), 2010-2014
Table 18: The Philippines - Payment Instrument Transaction Volumes (Million), 2010-2014
Table 19: The Philippines - Number of Payment Cards in Circulation by Type (Million), 2010-2019
Table 20: The Philippines - Volume of Payment Card Transactions by Type (Million), 2010-2019
Table 21: The Philippines - Value of Payment Card Transactions by Type (PHP Billion), 2010-2019
Table 22: The Philippines - Value of Payment Card Transactions by Type (US$ Billion), 2010-2019
Table 23: The Philippines - Personal and Commercial Card Transaction Volumes ( Million), 2010-2019
Table 24: The Philippines - Personal and Commercial Card Transaction Values (PHP Billion), 2010-2019
Table 25: The Philippines - Personal and Commercial Card Transaction Values (US$ Billion), 2010-2019
Table 26: The Philippines - Number of Debit Cards in Circulation (Million), 2010-2019
Table 27: The Philippines - Debit Card Transaction Volumes and Frequency by Channel, 2010-2019
Table 28: The Philippines - Debit Card Total and Average Transaction Values by Channel, 2010-2019
Table 29: The Philippines - Debit Card Total and Average Transaction Values by Channel, 2010-2019
Table 30: The Philippines - Number of Debit Cards in Circulation by Scheme (Million), 2010-2014
Table 31: The Philippines - Debit Card Transaction Values by Scheme (PHP Billion), 2010-2014
Table 32: The Philippines - Debit Card Transaction Values by Scheme (US$ Billion), 2010-2014
Table 33: The Philippines - Debit Card Transaction Values by Issuer (PHP Billion), 2010-2014
Table 34: The Philippines - Debit Card Transaction Values by Issuer (US$ Billion), 2010-2014
Table 35: The Philippines - Number of Credit Cards in Circulation (Million), 2010-2019
Table 36: The Philippines - Credit Card Transaction Volumes and Frequency by Channel, 2010-2019
Table 37: The Philippines - Credit Card Total and Average Transaction Values by Channel, 2010-2019
Table 38: The Philippines - Credit Card Total and Average Transaction Values by Channel, 2010-2019
Table 39: The Philippines - Number of Credit Cards in Circulation by Scheme (Million), 2010-2014
Table 40: The Philippines - Credit Card Transaction Values by Scheme (PHP Billion), 2010-2014
Table 41: The Philippines - Credit Card Transaction Values by Scheme (US$ Billion), 2010-2014
Table 42: The Philippines - Pay Later Card Transaction Values by Issuer (PHP Billion), 2010-2014
Table 43: The Philippines - Pay Later Card Transaction Values by Issuer (US$ Million), 2010-2014
Table 44: The Philippines - Credit Card Balances Outstanding by Issuer (PHP Billion), 2010-2014
Table 45: The Philippines - Credit Card Balances Outstanding by Issuer (US$ Million), 2010-2014
Table 46: The Philippines - Number of Charge Cards in Circulation (Thousand), 2010-2019
Table 47: The Philippines - Charge Card Transaction Volumes and Frequency by Channel, 2010-2019
Table 48: The Philippines - Charge Card Total and Average Transaction Values by Channel, 2010-2019
Table 49: The Philippines - Charge Card Total and Average Transaction Values by Channel, 2010-2019
Table 50: The Philippines - Number of Charge Cards in Circulation by Scheme (Thousand), 2010-2014
Table 51: The Philippines - Charge Card Transaction Values by Scheme (PHP Billion), 2010-2014
Table 52: The Philippines - Charge Card Transaction Values by Scheme (US$ Million), 2010-2014
Table 53: The Philippines - Number of Commercial Cards in Circulation (Thousand), 2010-2019
Table 54: The Philippines - Commercial Card Transaction Values (PHP Billion), 2010-2019
Table 55: The Philippines - Commercial Card Transaction Values (US$ Billion), 2010-2019
Table 56: The Philippines - Number of Prepaid Cards in Circulation (Million), 2010-2019
Table 57: The Philippines - Prepaid Card Transaction Values (PHP Billion), 2010-2019
Table 58: The Philippines - Prepaid Card Transaction Values (US$ Billion), 2010-2019