Emerging Opportunities in South Koreas Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape

Synopsis

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

• Current and forecast values for each category of South Korea’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 South Korea’s cards and payments industry
• Detailed analysis of the marketing strategies adopted for selling various categories of cards such as debit, credit, prepaid and charge 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 South Korea’s cards and payments industry

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Summary

The South Korean cards and payments industry grew at a CAGR of 6.39% during the review period (2008−2012). The debit card category accounted for a CAGR of 5.21%. Over the forecast period (2013−2017) the debit card category is expected to grow at a CAGR of 4.02%. The credit card category occupied the second-largest share during the review period and grew at a CAGR of 7.29% and is expected to grow at a CAGR of 2.24% over the forecast period. The growth of the credit card category will be facilitated by the emergence of non-bank card issuers. The prepaid card category grew at a CAGR of 7.97% during the review period and is expected to grow at a CAGR of 4% over the forecast period. The charge card category posted a CAGR of -4.95% in volume terms in 2011 owing to declining demand from the corporate segment and is anticipated to decline at a CAGR of -2.22% over the forecast period. 

 

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Scope

This report provides a comprehensive analysis of South Korea’s cards and payments industry

• It provides current values for South Korea’s cards and payments industry for 2012 and forecast figures for 2017
• It details the different macroeconomic, infrastructural, consumer and business drivers affecting South Korea’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 operating in South Korea’s cards and payments industry

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Reasons To Buy

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

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Key Highlights

• NFC-enabled devices issued by telecom companies to increase scope of mobile payments
• Government efforts and customer deleveraging to decrease scope of credit cards
• Tax reforms to positively impact the debit card category
• Banks enhance marketing strategies
• Spin-off credit card units increase competition in the credit card category
• Growth of online retail sales an important driver of the cards and payments industry