The Report “Vietnam’s Cards and
Payments Industry Emerging Opportunities, Trends, Size, Drivers, Strategies,
Products and Competitive Landscape″ by Timetric is now available at
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Cards and Payments Industry Emerging Opportunities, Trends, Size, Drivers,
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Synopsis
The report
provides top-level market analysis, information and insights into Vietnam’s
cards and payments industry, including:
- Current and forecast values for
each category of Vietnam’s cards and payments industry, including debit
cards, credit cards and prepaid cards
- Comprehensive analysis of the
industry’s market attractiveness and future growth areas
- Analysis of various market
drivers and regulations governing Vietnam’s cards and payments industry
- Detailed analysis of the
marketing strategies adopted for selling debit, credit 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
Vietnam’s cards and payments industry
Summary
Vietnam’s
economic growth has enhanced job creation and household income, and propelled a
greater number of previously unbanked people into the realm of financial
services. Vietnam’s GDP per capita subsequently rose during the review period
from US$1,097.1 in 2009 to US$1,728.4 in 2013. Even though Vietnam remains a
highly untapped financial services market, economic growth is enhancing the
number of people gaining access to bank accounts. Consequently, as more people
and businesses are brought into the financial mainstream and are becoming aware
of the benefits of electronic transactions, the use of cash as a payment method
is decreasing. In terms of the overall card payments channel, the share of cash
transactions decreased from 3.4% in 2009 to 2.7% in 2013, while the share of
card transactions doubled to increase from 1.5% in 2009 to 3.1% in 2013.
Complete Report Available
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.
The Vietnamese
card payments channel grew in value and volume terms during the review period.
In terms of the number of cards in circulation, the channel grew from 21.7
million in 2009 to 67.8 million in 2013, at a compound annual growth rate
(CAGR) of 32.95% and is anticipated to further post a forecast-period CAGR of
9.89%. In terms of transaction value, the card payments channel grew from VND364.8
trillion (US$21.4 billion) in 2009 to VND1.32 quadrillion (US$62.8 billion) in
2013, at a review-period CAGR of 37.91%, it is anticipated to post a
forecast-period CAGR of 12.30%, to reach VND2.58 quadrillion (US$106.5 billion)
in 2018.
In terms of the
number of cards in circulation, the credit and prepaid card categories
collectively accounted for a channel share of 7.3% in 2013, reflecting lower
penetration rates than the debit cards category. However, a growth in the
number of middle-class families, the greater need for access to credit, changes
in consumer spending habits and the comfortable approval of credit cards fueled
demand. Banks are issuing customized credit cards targeted at diverse customer
segments such as the young population, high-income customers, females and
travelers. Co-branded credit cards are slowly gaining popularity in Vietnam. In
2013, most banks issued co-branded credit cards in association with retailers,
airline companies, educational institutions and football clubs. Vietcombank,
for example, offers the Vietnam Airlines American Express Platinum Card in
association with Vietnam Airlines.
Scope
- This report provides a
comprehensive analysis of Vietnam’s cards and payments industry.
- It provides current values for
Vietnam’s cards and payments industry for 2013, and forecast figures for
2018.
- It details the different
economic, infrastructural and business drivers affecting Vietnam’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
Vietnam’s cards and payments industry.
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sample copy of the Report at http://www.rnrmarketresearch.com/contacts/request-sample?rname=190686 .
Key highlights
- Vietnam’s economy remained
consistently strong during the financial crisis and recorded robust gross
domestic product (GDP) growth during the review period (2009–2013). Over
the forecast period (2014–2018), it is anticipated to post a GDP growth
rate of more than 5.4%, supported by the government’s monetary policy in
2014 which aimed to ensure capital sources for economic development and
regulate inflationary pressure. Vietnam’s entry into the World Trade
Organization (WTO) in 2007 underpinned its growth potential, aided by
inflows of foreign direct investment (FDI), which in 2013 reached US$21.6
billion, an increase of 54.5% year-on-year.
- Vietnam’s economic growth has
enhanced job creation and household income, and propelled a greater number
of previously unbanked people into the realm of financial services.
Vietnam’s GDP per capita subsequently rose during the review period from
US$1,097.1 in 2009 to US$1,728.4 in 2013. Even though Vietnam remains a
highly untapped financial services market, economic growth is enhancing
the number of people gaining access to bank accounts. Consequently, as more
people and businesses are brought into the financial mainstream and are
becoming aware of the benefits of electronic transactions, the use of cash
as a payment method is decreasing. In terms of the overall card payments
channel, the share of cash transactions decreased from 3.4% in 2009 to
2.7% in 2013, while the share of card transactions doubled to increase
from 1.5% in 2009 to 3.1% in 2013.
- The Vietnamese card payments
channel grew in value and volume terms during the review period. In terms
of the number of cards in circulation, the channel grew from 21.7 million
in 2009 to 67.8 million in 2013, at a compound annual growth rate (CAGR)
of 32.95% and is anticipated to further post a forecast-period CAGR of
9.89%. In terms of transaction value, the card payments channel grew from
VND364.8 trillion (US$21.4 billion) in 2009 to VND1.32 quadrillion
(US$62.8 billion) in 2013, at a review-period CAGR of 37.91%, it is
anticipated to post a forecast-period CAGR of 12.30%, to reach VND2.58
quadrillion (US$106.5 billion) in 2018.
Buy
a Copy of the report at http://www.rnrmarketresearch.com/contacts/purchase?rname=190686 .
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