London, UK (PRWEB) August 21, 2013
Iceland’s card payments market saw negative growth during 2008–2012, declining to 719,950 cards in 2012. From 2013 to 2017, the market is expected to grow at about 1.9% CAGR to reach 793,275 cards by end-2017. In terms of card volume, debit cards held nearly 57.5% of the overall market in 2012, followed by the credit cards and charge cards categories with about 40.5% and with 2% market shares, respectively. In volume terms, debit cards and credit cards are expected to increase to 456,983 and 321,082 by 2017, respectively. Notwithstanding multiple challenges like the banking crisis, world economic crunch, bankruptcy of leading banks as well as currency depreciation, Iceland’s economy recovered from 2010 onwards and will continue to do so, fostering growth in the card payments channel during the forecast period.
Iceland has seen an increase in consumers’ purchasing power and their appetite for credit transactions recently, mainly as a result of a combination of four factors. These were an increasing employment rates, rising disposable income, growing wages and a decline in the countries inflation. The growth of the transaction volume of credit cards will be aided further by the increasing acceptance of credit cards within retail outlets and tourist destinations.
New research report “Emerging Opportunities in Iceland’s Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape” worked out by Timetric has been recently published by Market Publishers Ltd.
Title: Emerging Opportunities in Iceland’s Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape
Published: August, 2013
Price: US$ 3,995.00
The report offers a comprehensive analysis of Iceland’s cards and payments industry, providing historic (2008-2012), current and forecast values (to 2017) for each category. It examines the industry’s market attractiveness and future growth areas; details a variety of drivers and regulations affecting the sector; analyses the marketing strategies adopted by various bankers and other institutions; reviews consumer attitudes and their buying preferences for cards. The research investigates the competitive landscape of the Icelandic cards and payments industry, and also profiles key players in the field, including Arion Banki, Islandsbanki and Landsbankinn.
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