Emerging Opportunities in Greece’s Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape

Publisher Name :
Date:22-Jan-2013
No. of pages: 81

The report provides market analysis, information and insights into Greece’s cards and payments market, including:

  • •Current and forecast values for each category of Greece’s cards and payments industry including debit cards, credit cards, prepaid cards and charge cards
  • •Comprehensive analysis of the industry’s market attractiveness and future growth areas
  • •Analysis of various market drivers and regulations governing Greece’s cards and payments industry
  • •Detailed analysis of the marketing strategies adopted for selling debit, credit, charge and prepaid cards used by various bankers and other institutions in the market
  • •Comprehensive analysis of consumer attitudes and their buying preferences for cards
  • •Competitive landscape of Greece’s cards and payments industry

Summary

Greece’s banking system is currently characterized by deep and prolonged economic contraction, elevated credit risk, and fragile depositor confidence. In May 2012, the Hellenic Financial Stability Fund (HFSF), a private legal entity in Greece, disbursed EUR18 billion (US$23 billion) to Greece’s four biggest banks, National Bank of Greece SA, EFG Eurobank Ergasias SA, Alpha Bank SA and Piraeus Bank SA, as part of a recapitalization plan. This capital injection is expected to restore the capital adequacy level of these banks and its access to the provision of liquidity funding from the European Central Bank and the European Union (EU). Greece is the main country to be adversely affected by the ongoing Eurozone sovereign debt crisis, followed by Portugal and Ireland. In response to this, the Greek government has requested financial assistance from EU countries and the International Monetary Fund (IMF) to manage its debt. In May 2010, the Greek parliament, EU leaders and the IMF approved a three-year EUR110 billion (US$152.6 billion) adjustment program to be monitored by the EU, the European Central Bank (ECB) and the IMF. Greece was asked to take essential austerity measures such as tax increases and public spending cuts as a condition of the bail-out package. Since then, the economic environment has worsened with nearly two million people out of work, 68,000 businesses closed and the economy shrinking by 7.2%. The IMF is, however, expecting a positive economic environment during the forecast period between 2013 and 2017.

Scope

  • This report provides a comprehensive analysis of Greece’s cards and payments industry
  • •It provides current values for Greece’s cards and payments industry for 2012 and forecast figures for 2017
  • •It details the different macroeconomic, infrastructural, consumer and business drivers affecting Greece’s cards and payments industry
  • •It outlines the current regulatory framework in the industry
  • •It details the marketing strategies used by various bankers and other institutions
  • •It profiles the major banks in Greece’s cards and payments industry

Reasons To Buy

  • •Make strategic business decisions using historic and forecast market data related to Greece’s cards and payments industry and each market within it
  • •Understand the key market trends and growth opportunities within Greece’s cards and payments industry
  • •Assess the competitive dynamics in Greece’s cards and payments industry
  • •Gain insights into the marketing strategies used for selling various types of cards in Greece
  • •Gain insights into key regulations governing Greece’s cards and payments industry

Key Highlights

  • •In May 2012, the Hellenic Financial Stability Fund (HFSF), a private legal entity in Greece, disbursed EUR18 billion (US$23 billion) to Greece’s four biggest banks, National Bank of Greece SA, EFG Eurobank Ergasias SA, Alpha Bank SA and Piraeus Bank SA, as part of a recapitalization plan.
  • •Greece is the main country to be adversely affected by the ongoing Eurozone sovereign debt crisis, followed by Portugal and Ireland. In response to this, the Greek government has requested financial assistance from EU countries and the International Monetary Fund (IMF) to manage its debt.
  • •All card categories except debit cards posted negative growth during the review period between 2008 and 2012. In terms of volume, the debit cards category held the highest market share of 49.8% in 2012, followed by prepaid cards with 32.0% and credit cards with 18.0%. The lowest share was held by charge cards with 0.2% in 2012. During the review period, debit cards registered strong positive growth at a CAGR of 5.62%, growing from 8.1 million cards in 2008 to 10.0 million cards in 2012.
  • •E-commerce is growing significantly in Greece with increasing numbers of internet users and rising awareness of products and services through social networking and media promotions. There were nearly 1.9 million online shoppers in 2012, an increase of 26.7% over 2011.

Emerging Opportunities in Greece’s Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape

Table of Contents

1 Executive Summary

2 Market Attractiveness and Future Prospects of the Cards and Payments Industry

3 Analysis of National Cards and Payments Industry Drivers
3.1 Macroeconomic Fundamentals
3.1.1 GDP
3.1.2 Recapitalization plans
3.1.3 Growing unemployment
3.2 Infrastructure Drivers
3.2.1 Growing number of ATMs
3.2.2 EMV adoption
3.2.3 NFC and contactless adoption
3.2.4 Increasing number of internet users
3.3 Business Drivers
3.3.1 E-commerce
3.3.2 Retail sales
3.3.3 Low penetration of credit cards
3.4 Consumer Drivers
3.4.1 Urban vs rural populations
3.4.2 Changing consumer lifestyles and spending patterns
3.5 Card Fraud Statistics
3.5.1 By channel
3.6 Regulatory Framework
3.6.1 Retail payment systems
3.6.2 SEPA cards framework
3.6.3 Money laundering legislation

4 Emerging Consumer Attitudes and Trends
4.1 Market Segmentation and Targeting
4.1.1 Retail sector
4.1.2 Corporate sector
4.2 Consumer Preference
4.2.1 Price
4.2.2 Service
4.2.3 Convenience

5 Competitive Landscape and Industry Dynamics
5.1 Market Share Analysis by Payment Channel
5.1.1 Credit transfer
5.1.2 Direct debits
5.1.3 Card payments
5.1.4 Check payments
5.2 Debit Cards Category Share
5.2.1 By bank
5.2.2 By scheme
5.3 Credit Cards Market Share
5.3.1 By bank
5.3.2 By scheme
5.4 Charge Cards Category Share
5.4.1 By card type

6 Strategies Adopted by Key Players
6.1 Marketing Entry Strategies
6.2 Marketing/Product Strategy
6.2.1 Debit cards
6.2.2 Credit cards
6.2.3 Prepaid cards
6.2.4 Charge cards
6.3 Pricing Strategies

7 Market Size and Growth Potential of Payment Card Industry
7.1 Market Share Analysis by Type of Card
7.2 Total Market Size and Forecast of the Card Industry
7.2.1 Analysis by number of cards
7.2.2 Analysis by transaction value
7.2.3 Analysis by transaction volume
7.3 Debit Card Category Size and Forecast
7.3.1 Analysis by number of cards
7.3.2 Analysis by transaction value
7.3.3 Analysis by transaction volume
7.3.4 Other key performance indicators
7.4 Prepaid Card Category Size and Forecast
7.4.1 Analysis by number of cards - segment wise
7.4.2 Analysis by transaction value
7.5 Charge Card Category Size and Forecast
7.5.1 Analysis by number of cards
7.5.2 Analysis by transaction value
7.5.3 Analysis by transaction volume
7.5.4 Analysis by frequency of use
7.6 Credit Card Category Size and Forecast
7.6.1 Analysis by number of cards
7.6.2 Analysis by transaction value
7.6.3 Analysis by transaction volume
7.6.4 Other key performance indicators

8 Company Profiles, Product and Marketing Strategies
8.1 National Bank of Greece
8.1.1 Strategies
8.1.2 Debit card offered
8.1.3 Credit cards offered
8.2 Piraeus Bank
8.2.1 Strategies
8.2.2 Debit cards offered
8.2.3 Credit cards offered
8.2.4 Prepaid card offered
8.3 Alpha Bank
8.3.1 Strategies
8.3.2 Credit cards offered
8.3.3 Charge cards offered
8.3.4 Debit cards offered

9 Appendix
9.1 Methodology
9.2 Contact Us
9.3 About Timetric
9.4 Disclaimer

List of Tables

Table 1: Greek Cards and Payments Industry by Card Type
Table 4: Card Products Offered to Students in Greece
Table 2: Greek Payment Channels (EUR Million), 2008 and 2012
Table 3: Greek Cards Industry by Type of Card (Thousands), 2008-2017
Table 4: Greek Cards Category Size by Volume (Thousands), 2008-2017
Table 5: Greek Cards Industry Size by Transaction Value (EUR Million), 2008-2017
Table 6: Greek Cards Industry Size by Transaction Value (US$ Million), 2008-2017
Table 7: Greek Cards Industry Size by Transaction Volume (Million), 2008-2017
Table 8: Greek Debit Card Category Size (Thousands), 2008-2017
Table 9: Greek Debit Card Category Size (EUR Million), 2008-2017
Table 10: Greek Debit Card Category Size (US$ Million), 2008-2017
Table 11: Greek Debit Card Category Size by Transaction Volume (Million), 2008-2017
Table 12: Greek Debit Card Category Size by Frequency of Use, 2008-2017
Table 13: Greek Prepaid Card Category Size (Thousands), 2008-2017
Table 14: Greek Open-Loop Prepaid Cards Segment Size (Thousands), 2008-2017
Table 15: Greek Closed-Loop Prepaid Cards Segment Size (Thousands), 2008-2017
Table 16: Greek Prepaid Cards Category Size (EUR Million), 2008-2017
Table 17: Greek Prepaid Cards Category Size (US$ Million), 2008-2017
Table 18: Greek Charge Card Category Size (Thousands), 2008-2017
Table 19: Greek Charge Card Category Size (EUR Million), 2008-2017
Table 20: Greek Charge Card Category Size (US$ Million), 2008-2017
Table 21: Greek Charge Card Category Size by Transaction Volume (Million), 2008-2017
Table 22: Greek Charge Card Category Size by Frequency of Use, 2008-2017
Table 23: Greek Credit Card Category Size by Volume (Thousands), 2008-2017
Table 24: Greek Credit Card Category Size by Transaction Value (EUR Million), 2008-2017
Table 25: Greek Credit Card Category Size by Transaction Value (US$ Million), 2008-2017
Table 26: Greek Credit Card Category Size by Transaction Volume (Million), 2008-2017
Table 27: Greek Credit Card Category Size by Frequency of Use, 2008-2017
Table 28: Greek Credit Card Category Size by Average Transaction Value (EUR), 2008-2017
Table 29: Greek Credit Card Category Size by Average Transaction Value (US$), 2008-2017

List of Figures

Figure 1: Current and Future Prospects of Various Cards in Greece
Figure 2: Growth Potential of the Greek Cards and Payments Industry by Area of Use
Figure 3: Greek Cards and Payments Market Drivers
Figure 4: GDP Growth Rate (%), 2011-2017
Figure 5: Unemployment Rate in Greece (%), 2008-2017
Figure 6: Number of ATMs in Greece (Thousands), 2008-2017
Figure 7: Snapshot of the Eurobank's Card Equipped with EMV Technology
Figure 8: Number of Internet Users in Greece (Million), 2008-2012
Figure 9: Greek Online Retail Sales (EUR Million), 2008-2017
Figure 10: Greek Urban and Rural Populations (Million), 2008-2012
Figure 11: Greek Disposable Income (EUR Million), 2008-2017
Figure 12: Greek Card Fraud Statistics (EUR Million), 2008-2012
Figure 14: Consumer Preferences for Various Types of Cards
Figure 15: Share of Different Payment Channels in Greece (%), 2008 and 2012
Figure 16: Value and Growth of Credit Transfers in Greece (EUR Million), 2008-2012
Figure 17: Value and Growth of Direct Debits in Greece (EUR Million), 2008-2012
Figure 18: Value and Growth of Card Payments in Greece (EUR Million), 2008-2012
Figure 19: Value and Growth of Check Payments in Greece (EUR Million), 2008-2012
Figure 20: Greek Debit Card Category Share by Bank (%), 2011
Figure 21: Greek Debit Card Category Share by Scheme (%), 2011
Figure 22: Greek Credit Card Category Share by Bank (%), 2011
Figure 23: Greek Credit Card Category Share by Scheme (%), 2011
Figure 24: Greek Charge Card Category Share by Scheme (%), 2011
Figure 25: Market Entry Strategies of Foreign Banks in Greece
Figure 26: Marketing/Product Strategies Based on Card Type
Figure 27: Market Shares of Various Card Categories in Greece, 2012
Figure 28: Snapshot of Piraeus Bank's Virtual Prepaid Card
Figure 29: HSBC Credit Cards and Charges in Greece
Figure 30: Greek Cards Industry by Type of Card (%), 2008-2017
Figure 31: Greek Cards Category Size by Volume (Thousands), 2008-2017
Figure 32: Greek Cards Industry Size by Transaction Value (EUR Million), 2008-2017
Figure 33: Greek Cards Industry Size by Transaction Volume (Million), 2008-2017
Figure 34: Greek Debit Card Category Size (Thousands), 2008-2017
Figure 35: Greek Debit Card Category Size (EUR Million), 2008-2017
Figure 36: Greek Debit Card Category Size by Transaction Volume (Million), 2008-2017
Figure 37: Greek Debit Card Category Size by Frequency of Use, 2008-2017
Figure 38: Debit Card Usage at ATMs and POS Terminals (Million), 2008-2017
Figure 39: Greek Prepaid Card Category Size (Thousands), 2008-2017
Figure 40: Greek Open-Loop Prepaid Cards Segment Size (Thousands), 2008-2017
Figure 41: Greek Closed-Loop Prepaid Cards Segment Size (Thousands), 2008-2017
Figure 42: Greek Prepaid Cards Category Size (EUR Million), 2008-2017
Figure 43: Greek Charge Card Category Size (Thousands), 2008-2017
Figure 44: Greek Charge Card Category Size (EUR Million), 2008-2017
Figure 45: Greek Charge Card Category Size by Transaction Volume (Million), 2008-2017
Figure 46: Greek Charge Card Category Size by Frequency of Use, 2008-2017
Figure 47: Greek Credit Card Category Size by Volume (Thousands), 2008-2017
Figure 48: Greek Credit Card Category Size by Transaction Value (EUR Million), 2008-2017
Figure 49: Greek Credit Card Category Size by Transaction Volume (Million), 2008-2017
Figure 50: Greek Credit Card Category Size by Frequency of Use, 2008-2017
Figure 51: Greek Credit Card Category Size by Average Transaction Value (EUR), 2008-2017
Figure 52: National Bank of Greece - Market Segmentation of Cards Offered
Figure 53: Credit Cards Offered by National Bank of Greece
Figure 54: Piraeus Bank - Market Segmentation of Cards Offered
Figure 55: Alpha Bank Market Segmentation of Cards Offered
Figure 56: Snapshot of Charge Cards by Alpha Bank

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