Emerging Opportunities in the Indian Prepaid Card Market: Market Size, Strategies, Products and Competitive Landscape

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Synopsis

The report provides detailed market analysis, information and insights into the Indian prepaid card market, including:

• Current and forecast values for the Indian prepaid card market

• Current and forecast values of the various categories in the Indian prepaid card market

• Analysis of the key trends, drivers and challenges in the Indian prepaid card market

• Summary of the current regulatory framework in the Indian prepaid card market

• Detailed analysis of the marketing strategies adopted for selling prepaid cards by category

• Competitive landscape of the Indian prepaid card market

• SWOT Analysis of the Indian prepaid card market

• Case studies of the top prepaid card companies in India

• Profiles of the major companies in the Indian prepaid card market

Prepaid cards are gaining popularity at the expense of credit cards in India. This can be indicated by the fact that the number of outstanding credit cards in the country declined from 27.6 million in March 2008 to 18 million in March 2011. Banks are also being cautious in their promotion of credit cards as they fear a credit default. Instead Indian banks are focusing on promoting prepaid cards. A rising number of retail companies and brands in India are now offering prepaid cards as a strategy to retain customers and increase sales. Prepaid cards are increasingly being used by companies as a tool to retain customers and also ensure regular sales. The lack of consumer awareness about the types of prepaid cards that are available in the country is one of the main challenges preventing wider prepaid card usage in the country. Furthermore, prepaid cards have traditionally not been as aggressively marketed by banks as debit and credit cards. However, this trend is now changing, as the high growth recorded in the prepaid cards market is encouraging more companies and banks to provide prepaid card services. As such, Indian banks are now undertaking aggressive marketing and promotion activities to increase prepaid cards awareness in India. The Indian prepaid cards market is highly consolidated among three leading companies: Axis Bank, ICICI Bank and Itz Cash Card.

Scope

• This report provides a comprehensive analysis of the prepaid card market in India.

• It provides current values for the Indian prepaid card market for the report's review period 2007–2011 and forecast figures for the 2012–2016 forecast period

• It provides current values for the various categories within the Indian prepaid card market for the review period and forecast period

• The report covers an exhaustive summary on the key trends, drivers and challenges affecting the Indian prepaid card market

• It outlines the current regulatory framework in the industry

• The report lists the strengths, weaknesses, opportunities and threats (SWOT) of the Indian prepaid card market

• It details the marketing strategies used by various companies

• The report profiles the major banks and companies in the Indian prepaid card market

• Make strategic business decisions using historic and forecast market data related to the Indian prepaid card industry and each category within it• Understand the key market trends and growth opportunities within the Indian prepaid card market• Assess the competitive dynamics in the Indian prepaid card market• Gain insights into the marketing strategies used by banks and prepaid card companies• Gain insights into key regulations governing the Indian prepaid card market

Key Highlights

• The Indian prepaid card market is expected to continue growing strongly over the forecast period (2012–2016). The volume of Indian prepaid cards is projected record a CAGR of 40.6% over the forecast period.

• The Indian prepaid travel cards category increased in value at a CAGR of more than 50% during the review period. This growth is being driving by strong demand from corporations, which account for the majority of the total travel cards category value.

• A rising number of retail companies and brands in India are now offering prepaid cards as a strategy to retain customers and increase sales.

• Indians traditionally prefer conducting financial transactions through cash rather than payment cards. Almost 97% of the total retail transactions in India are cash-based. However, this is changing gradually as the younger population is more comfortable using payment cards.

• The Indian prepaid cards market is highly consolidated among three leading companies: Axis Bank, ICICI Bank and Itz Cash Card.

ICICI Bank

State Bank of India

Punjab National Bank

HDFC Bank

Union Bank of India

Canara Bank

Bank of India

Andhra Bank

Corporation Bank

Itz Cash Card

Done Card Utility Ltd

Table of Contents1 Executive

2 Prepaid Card Market Dynamics2.1 Indian Banking Industry Overview2.2 Indian Payment Methods2.2.1 Debit cards2.2.2 Credit cards2.2.3 Internet banking2.2.4 Mobile payments2.3 SWOT Analysis of the Indian Prepaid Card Market2.4 Regulatory Framework3 Key Trends, Growth Drivers and Challenges for the Indian Prepaid Cards Market3.1 Economic Drivers3.2 Consumer and Infrastructure Drivers3.3 Business Drivers3.4 Trends3.5 Challenges4 Indian Prepaid Cards Market Size and Growth Potential4.1 Indian Prepaid Cards Market Size4.2 Indian Prepaid Cards Market Size by Category4.2.1 Payroll cards4.2.2 Travel cards4.2.3 Multi-purpose cards4.2.4 Remittance cards4.2.5 Other prepaid cards5 Indian Prepaid Card Marketing Strategies5.1 Payroll Cards5.2 Travel Cards5.3 Multi-Purpose Cards5.4 Remittances Cards5.5 Other Prepaid Cards6 Competitive Landscape6.1 Banking Industry Structure in India6.1.1 Public-sector banks6.1.2 Private sector banks6.1.3 Foreign banks6.2 Indian Banking Industry Asset Share6.3 Debit Card Market Share6.4 Prepaid Card Market Share7 Case Studies7.1 Axis Bank7.1.1 Introduction7.1.2 Customer base and infrastructure7.1.3 Prepaid cards7.1.4 Business strategies7.1.5 Financial performance7.1.6 SWOT analysis7.2 ICICI Bank7.2.1 Introduction7.2.2 Customer base and infrastructure7.2.3 Prepaid cards7.2.4 Business strategies7.2.5 Financial performance7.2.6 SWOT analysis8 Profile of Leading Indian Companies8.1 SBI Group8.1.1 Prepaid card offered8.1.2 Strategies8.1.3 Financial performance8.2 Punjab National Bank8.2.1 Prepaid cards offered8.2.2 Strategies8.2.3 Financial performance8.3 HDFC Bank8.3.1 Prepaid cards offered8.3.2 Strategies8.3.3 Financial performance8.4 Union Bank of India8.4.1 Debit cards8.4.2 Strategies8.4.3 Financial performance8.5 Canara Bank8.5.1 Debit cards8.5.2 Strategies8.5.3 Financial performance8.6 Bank of India8.6.1 Debit cards8.6.2 Strategies8.6.3 Financial performance8.7 Andhra Bank8.7.1 Debit cards8.7.2 Strategies8.7.3 Financial performance8.8 Corporation Bank8.8.1 Prepaid cards offered8.8.2 Strategies8.8.3 Financial performance8.9 ITZ Cash Card Ltd8.9.1 Prepaid cards offered8.9.2 Strategies9 Appendix9.1 About BRICdata9.1.1 Areas of expertise9.2 Methodology9.3 DisclaimerList of TablesTable 1: Indian Banking Industry Value by Loans and Deposits (US$ Billion), 2007–2011Table 2: Indian Banking Industry Value by Loans and Deposits (US$ Billion), 2012–2016Table 3: Types of Debit CardsTable 4: Indian Debit Card Transaction Volume and Value, FY2009–FY2011Table 5: Indian Credit Card Transaction Volume and Value, FY2009–FY2011Table 6: Indian Electronic Transaction Volume and Value, FY2011Table 7: SWOT Analysis of the Indian Prepaid Cards MarketTable 8: Indian Companies Authorized to Provide Prepaid Payment Instruments by the RBI, 2009–2012Table 9: Indian Prepaid Card CategoriesTable 10: Indian Prepaid Cards Market Size (US$ Billion), 2007–2016Table 11: Indian Prepaid Cards Volume (Million), 2007–2016Table 12: Indian Prepaid Card Categories Value (US$ Billion), 2011Table 13: Indian Payroll Cards Category Size (US$ Billion), 2007–2016Table 14: Indian Travel Cards Category Size (US$ Billion), 2007–2016Table 15: Indian Multi-Purpose Cards Category Size (US$ Billion), 2007–2016Table 16: Indian Remittance Cards Category Size (US$ Billion), 2007–2016Table 17: Indian Other Prepaid Cards Category Size (US$ Billion), 2007–2016Table 18: Indian Public-Sector Bank Distribution by Residential Area (%), 2011Table 19: Indian Private-Sector Bank Distribution by Residential Area (%), 2011Table 20: Indian Foreign Bank Distribution by Residential Area (%), 2011Table 21: Indian Leading Banks by Assets, 2011Table 22: Indian Leading Debit Card Providers by Number of Debit Cards Issued (Million), 2011Table 23: Indian Prepaid Cards Market Share (%), 2011Table 24: Axis Bank Financial Position, 2011Table 25: ICICI Bank Financial Position, 2007–2011Table 26: SBI Group Financial Position, 2011Table 27: Punjab National Bank Financial Position, 2011Table 28: HDFC Bank Financial Position, 2011Table 29: Union Bank of India Financial Position, 2011Table 30: Canara Bank Financial Position, 2011Table 31: Bank of India Financial Position, 2011Table 32: Andhra Bank Financial Position, 2011Table 33: Corporation Bank Financial Position, 2011

List of Figures

Figure 1: Indian Banking Industry Value by Loans and Deposits (US$ Billion), 2007–2011

Figure 2: Indian Banking Industry Value by Loans and Deposits (US$ Billion), 2012–2016

Figure 3: Indian Credit Card Market Share (%), 2011

Figure 4: Indian Electronic Transaction Volume (% Share), FY2011

Figure 5: Indian Banking Industry Transaction Method Evolution

Figure 6: Indian GDP at Constant Prices (US$ Billion), 2007–2016

Figure 7: Indian Inflation Rate (%), 2007–2016

Figure 8: Indian Annual Per Capita Disposable Income (US$), 2007–2016

Figure 9: Indian Urban and Rural Population (%), 2007–2016

Figure 10: Indian Internet Penetration Rate (%), 2007–2016

Figure 11: Indian Personal Computers Per 100 People, 2007–2016

Figure 12: Indian Mobile Phone Penetration Rate (%), 2007–2016

Figure 13: Indian Credit Card Volume (Million), 2007–2011

Figure 14: Indian Prepaid Card Market Challenges

Figure 15: Indian Prepaid Cards Market Size (US$ Billion), 2007–2016

Figure 16: Indian Prepaid Cards Volume (Million), 2007–2016

Figure 17: Indian Prepaid Card Category Value (% Share), 2011

Figure 18: Indian Payroll Cards Category Size (US$ Billion), 2007–2016

Figure 19: Indian Travel Cards Category Size (US$ Billion), 2007–2016

Figure 20: Indian Multi-Purpose Cards Category Size (US$ Billion), 2007–2016

Figure 21: Indian Remittance Cards Category Size (US$ Billion), 2007–2016

Figure 22: Indian Other Prepaid Cards Category Size (US$ Billion), 2007–2016

Figure 23: Indian Banking Industry

Figure 24: Indian Public-Sector Bank Distribution by Residential Area (%), 2011

Figure 25: Indian Public-Sector Banks Share of Total Banking Assets (%), 1991–2011

Figure 26: Indian Private-Sector Bank Distribution by Residential Area (%), 2011

Figure 27: Indian Foreign Bank Distribution by Residential Area (%), 2011

Figure 28: Indian Leading Banks by Assets (% Share), 2011

Figure 29: Indian Leading Debit Card Providers by Number of Debit Cards Issued (% Share), 2011

Figure 30: Indian Prepaid Cards Market Share (%), 2011

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