Norways Cards and Payments Industry: Market Shares, Trends and Forecast Report

Norways Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape
Synopsis
The report provides top-level market analysis, information and insights into Norway’s cards and payments industry, including:
Current and forecast values for each category of Norway’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
Norway’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 Norway’s
cards and payments industry
Executive summary
The Norwegian card payments channel registered significant growth during the review period (2009–2013). In terms of number of cards in circulation,
the card payments channel grew at a CAGR of 2.86% to reach 18.6 million cards by the end of 2013. In value terms, the channel valued NOK647.9 billion
(US$108.9 billion) in 2013. Changing lifestyle demographics, the increased popularity of online shopping and higher disposable per capita incomes supported the
growth of the number of cards in circulation. The younger generation is a considerable and growing target group in terms of card spending. To tap into this
younger population, SpareBank 1 SR-Bank in Norway offers a Visa card for children under 13 years old. Amounts in the accounts linked to these card can be
controlled by parents, there is no issuance fee and it is free to use in stores and at SpareBank 1s ATMs. The bank also offers a Visa Electron credit card for people
aged 13–18 years, with no annual fees and free use for retail payments in Norway and abroad. SpareBanken Vest also offers the Vestavinn 13–17
client program for teenagers to manage spending and savings. The program includes a Visa Electron 10–17 card with benefits such as no annual fees,
fee-free purchases around the world and 24-hour withdrawal facilities at Union Bank Vest ATMs, and reduced-cost withdrawals in foreign countries.
Scope
This report provides a comprehensive analysis of Norway’s cards and payments industry. It provides current values for Norway’s cards and
payments industry for 2013, and forecast figures for 2018. It details the different economic, infrastructural and business drivers affecting Norway’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 Norway’s cards and payments industry.
Reasons to buy
Make strategic business decisions using top-level historic and forecast market data related to Norway’s cards and payments industry and each market
within it. Understand the key market trends and growth opportunities within Norway’s cards and payments industry. Assess the competitive dynamics in
Norway’s cards and payments industry. Gain insights in to the marketing strategies used for selling various card types in Norway. Gain insights into key
regulations governing Norway’s cards and payments industry.
Key highlights
The highest share in 2013 was occupied by the debit card category which accounted for 37.7% of the cards in circulation. The number of debit cards in
circulation grew from 6.1 million in 2009 to 7.0 million in 2013, and is expected to record a CAGR of 0.46% over the forecast period to reach 7.2 million by
2018. The main driver of the debit card category is the availability of the BankAxept payment system, with well-developed facilities and nationwide acceptance.
Customers are increasingly using cards to replace smaller cash payments. Despite the increase in use of card payments, card fraud in Norway has declined since
2009, with technically enhanced payment systems and more secure transactions. During the review period, the total number of cards increased from 16.6 million
in 2009 to 20.5 million in 2013, at a CAGR of 2.86%. However, total card fraud transaction values recorded a CAGR of -9.68%, falling from NOK214.7 million
(US$34.1 million) in 2009 to NOK142.9 million (US$24.0 million) in 2013. The adoption of EMV cards remains the major driving factor in reducing the
instances of card fraud, as it has replaced traditional magnetic strip cards with chip-based security. The number of EMV cards in circulation increased from 6.5
million in 2009 to 12.5 million in 2013. Banks are also making significant efforts to make the payment system secure and reduce card fraud. In March 2013,
EnterCard, in collaboration with Encap, integrated a two-factor user-authentication process into its re:member card. Card services can be access using this
application with no need for any other security such as one-time or SMS passwords. The bank also implemented a new fraud management solution in 2013
developed by predictive analytics company Fico. The solution is capable of integrating with mobile communications, enabling EnterCard to carry out safe
communication by mobile phones. Norway is expected to record strong growth in payments through mobile phones. This growth will be primarily driven by
enhanced mobile communications, high penetration of smartphones, and compatible credit card providers’ services. In 2003, Visa Norge and Telenor
Mobil signed an agreement to encourage m-commerce in the country. The MobilHandel m-payment solution is available to customers with Visa cards and
Telenor Mobil subscriptions. In 2013, Seamless Company introduced SEQR, a mobile payment service, in Norway. It enables merchants to facilitate customers to
pay through smartphones and receive bills through collector acco account. Over the forecast period, the value of m-payments is expected to increase from
NOK4.7 billion (US$0.8 billion) in 2014 to NOK12.3 billion (US$1.9 billion) in 2018.
table Of Contents

1 Executive Summary

2 Analysis Of Industry Environment, Key Trends And Drivers
2.1 Payment Infrastructure And Emerging Technology
2.1.1 Atms
2.1.2 Pos Terminals
2.1.3 Internet Penetration
2.1.4 Contactless Technology
2.1.5 Emv
2.1.6 M-payment Value
2.2 Business Drivers
2.2.1 Growth Of Online Commerce
2.2.2 Retail Sales Value

2.2.3 Customer Segmentation And Personalized Offerings
2.3 Economic Drivers
2.3.1 Gdp Per Capita
2.3.2 Gdp Growth
2.3.3 Inflation
2.3.4 Low Unemployment

3 Cards And Payments Industry Share Analysis
3.1 Industry Overview
3.1.1 Cash
3.1.2 Checks
3.1.3 Direct Debits
3.1.4 Credit Transfers
3.1.5 Cards

4 Regulatory Framework And Card Fraud Statistics
4.1 Regulatory Framework
4.1.1 Sepa Cards Framework
4.1.2 Anti-money Laundering (aml) Regulation
4.1.3 Foreign Direct Investment (fdi) Regulations
4.2 Card Fraud Statistics
4.2.1 Card-not-present
4.2.2 Counterfeit Cards
4.2.3 Cards Lost Or Stolen
4.2.4 Card Id Theft

5 Emerging Consumer Attitudes And Trends
5.1 Market Segmentation And Targeting
5.1.1 Retail Users
5.1.2 Corporate Users
5.2 Travel And Tourism Spending
5.2.1 Outbound Tourist Volume
5.2.2 Outbound Tourist Spending
5.3 Retail Card Spending
5.3.1 Analysis By Product Categories
5.3.2 Analysis By Retail Channels

6 Analysis Of Card Payments And Growth Prospects
6.1 Channel Share Analysis By Card Category
6.2 Size And Forecast Of The Card Payments Channel
6.2.1 Analysis By Volume Of Cards In Circulation
6.2.2 Analysis By Transaction Value

7 Analysis Of Credit Card Payments And Growth Prospects
7.1 Overall Category Size And Forecast
7.1.3 Analysis By Transaction Volume
7.2 Transaction Share Analysis At Atms And Poss
7.3 Personal Credit Cards Size And Forecast
7.4 Commercial Credit Cards Size And Forecast
7.4.1 Analysis By Number Of Cards In Circulation
7.5 Competitive Landscape
7.5.1 Scheme Share Analysis
7.5.2 Issuer Share Analysis


8 Analysis Of Debit Card Payments And Growth Prospects
8.2 Transaction Share Analysis By Channel

9 Analysis Of Charge Card Payments And Growth Prospects
9.2 Transaction Share Analysis By Channel
9.3 Personal Charge Cards Size And Forecast
9.4 Commercial Charge Cards Size And Forecast

10 Analysis Of Prepaid Card Payments And Growth Prospects
10.2 Open-loop Prepaid Cards Segment Size And Forecast
10.3 Closed-loop Prepaid Cards Segment Size And Forecast

11 Merchant Acquiring
11.1 Merchant Acquirers In The Norway
11.2 Company Profiles Of Merchant Acquirers In Norway

12 Company Profiles Of Card Issuers
12.1 Sparebanken Vest
12.1.1 Key Financials
12.1.2 Card Portfolio
12.1.3 Strategies
12.2 Entercard Norge As
12.2.2 Strategies
12.3 Dnb Bank
12.3.3 Strategies
12.4 Santander Consumer Bank As
12.4.3 Strategies
12.5 Seb

12.5.3 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
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Norways Cards and Payments Industry: Market Shares, Trends and Forecast Report

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Norways Cards and Payments Industry: Market Shares, Trends and Forecast Report