Austria Cards and Payments Industry Expected to Grow at US$58.9 Billion By 2017 in New Research Report at RnRMarketResearch.com

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RnRMarketResearch.com adds Latest Report on “Emerging Opportunities in Austria’s Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape” to its store.

Austria has the 10th-largest economy in the EU and presents numerous challenges for international entrants into the cards and payments industry. Austria has a highly developed payment infrastructure and a relatively low level of card use, providing substantial growth opportunities. Credit transfers and cash-based payments are the preferred channels, having a combined industry share of 85.4%. Card payments account for just a 1.3% share. The Austrian cards and payments industry, which includes a variety of debit, credit, charge and prepaid cards offered by a large number of banking and non-banking companies, recorded increasing growth during the review period. Austrian payments are mainly cash-based, but the country is gradually adopting card payments. The most important payment card instrument is the debit card and in recent years, especially at points of sale, debit card transactions have increased considerably. Banks are offering bespoke products to meet specific customer needs and are increasingly targeting niche markets such as high-end customers. The number of ATMs installed in Austria increased moderately during the review period, from 7,646 in 2008 to 8,252 in 2012, at a CAGR of 1.93%. The number of ATMs in the country is expected to reach a moderate 8,513 by the end of 2017. The number of POS terminals was 107,794 at the end of 2012, up from 106,807 at the end of 2008, having recorded a CAGR of 0.23% during the review period.

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Scope
This report provides a comprehensive analysis of Austria’s cards and payments industry.

It provides current values for Austria’s cards and payments industry for 2012 and forecast figures for 2017.

It details the different macroeconomic, infrastructural, consumer and business drivers affecting Austria’s cards and payments industry

It outlines the current regulatory framework in the industry & the marketing strategies used by various bankers and other institutions.

It profiles the major banks in Austria’s cards and payments industry.

Reasons To Buy
Make strategic business decisions using historic and forecast market data related to Austria’s cards and payments industry and each market within it.

Understand the key market trends and growth opportunities within Austria’s cards and payments industry.

Assess the competitive dynamics in Austria’s cards and payments industry.

Gain insights into the marketing strategies used for selling various types of cards & key regulations governing in Austria.

Key Highlights
The cards and payments industry in Austria grew substantially both in value and volume terms during the review period. Over the forecast period it is expected to grow at a CAGR of 3.06% in volume terms, and 1.09% in value terms.

In terms of transaction value, the overall industry grew from EUR38.2 billion (US$56.0 billion) in 2008 to EUR43.4 billion (US$55.8 billion) in 2012, at a CAGR of 3.26%. It is expected to grow from EUR43.9 billion (US$56.4 billion) in 2013 to EUR45.8 billion (US$58.9 billion) in 2017 at a CAGR of 1.1%.

E-commerce constitutes more than half of Austrian retail sales. Security developments in e-payment and m-payment systems have enabled steady growth in e-commerce, and the use of video and social media for enhanced product presentation and e-commerce services has also driven its growth. Major operators in Austrian e-commerce are Amazon.de, Neckermann and Otto GmBH.

All card categories posted positive growth during the review period. Growth in terms of number of cards in circulation was highest in the prepaid cards category with a CAGR of 5.92%. The second-largest growth was seen in the charge card category with a CAGR of 4.36%. The credit cards category is expected to grow, with a CAGR of 1.68% over the forecast period, while debit cards are also expected to grow at a CAGR of 1.36% during 2013-2017.

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Browse more reports on Credit Card Market @ http://www.rnrmarketresearch.com/reports/business-financial-services/financial-services/credit-card

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Priyank Tiwari
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