London, UK (PRWEB) November 28, 2013
During 2008-2012, the cards and payments industry in India witnessed considerable growth. During the review period, the card payments channel recorded nearly 27.1% CAGR, and by end-2012 amounted to 456.8 million cards in circulation and was worth USD 363 billion. Growth in the total number of cards in India is spurred by such factors as increasing popularity of on-line shopping, changing lifestyle demographics and rising disposable incomes in the country. The number of ATMs in India grew from 43,651 in 2008 to 114,014 in 2012, registering a 27.13% CAGR during 2008-2012. Meanwhile, the number of installed point-of-sale (POS) terminals witnessed a 17.21% CAGR during 2008-2012 and grew to 845,653.
To maximise expansion in each of the card categories, banks in India tend to segment their customers, focusing, in particular, on female customers – a large customer base that commonly manages family expenses and budgets in the country. In the conditions of constantly intensifying competition in the domestic cards and payments market, banks and other institutions involved are creating marketing and pricing strategies to attract more clients. Common strategies utilised by banks include, among others, discounts for retail stores, cashbacks, increased daily limits for cash withdrawals, reward points, etc.
New research report “India’s Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape” worked out by Timetric has been recently published by Market Publishers Ltd.
Title: India’s Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape
Published: November, 2013
Price: US$ 3,995.00
The report is an essential source of qualitative and quantitative information on the cards and payments industry in India. It discloses current and forecast values for the industry, evaluates the market's attractiveness, examines the key market segments as well as identifies the promising growth areas. The research study provides a comprehensive overview of the key market drivers, limiters, challenges and opportunities; characterises the regulative framework, contains an insightful examination of consumer attitudes and preferences. The report delves into the competitive environment and features the leading companies, offers a snapshot of the marketing strategies adopted for selling different kinds of cards used by various bankers and other institutions in the marketplace. Furthermore, the report provides exhaustive market forecasts to 2017.
More new market research reports by the publisher can be found at Timetric page.