LONDON, July 25, 2016 /PRNewswire/ -- Synopsis
Timetric's 'The Cards and Payments Industry in Ireland: Emerging Trends and Opportunities to 2020' report provides detailed analysis of market trends in the Irish cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including check payments, payment cards, cash transactions, direct debits and credit transfers during the review period (2011–2015).
The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, and transaction values and volumes during the review period and over the forecast period (2016–2020). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.
The report brings together Timetric's research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in the regulatory structure.
Timetric's 'The Cards and Payments Industry in Ireland: Emerging Trends and Opportunities to 2020' report provides top-level market analysis, information and insights into the Irish cards and payments industry, including:
- Current and forecast values for each market in the Irish cards and payments industry, including debit and credit cards.
- Detailed insights into payment instruments including credit transfers, direct debits, cash transactions, checks and payment cards. It also, includes an overview of the country's key alternative payment instruments.
- E-commerce market analysis.
- Analysis of various market drivers and regulations governing the Irish cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.
- Comprehensive analysis of consumer attitudes and buying preferences for cards.
- The competitive landscape in the Irish cards and payments industry.
- This report provides a comprehensive analysis of the Irish cards and payments industry.
- It provides current values for the Irish cards and payments industry for 2015, and forecast figures to 2020.
- It details the different demographic, economic, infrastructural and business drivers affecting the Irish cards and payments industry.
- It outlines the current regulatory framework in the industry.
- It details marketing strategies used by various banks and other institutions.
Reasons To Buy
- Make strategic business decisions, using top-level historic and forecast market data, related to the Irish cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in the Irish cards and payments industry.
- Assess the competitive dynamics in the Irish cards and payments industry.
- Gain insights into marketing strategies used for various card types in Ireland.
- Gain insights into key regulations governing the Irish cards and payments industry.
- The Irish government abolished stamp duty on debit card transactions effective from January 1, 2016 to reduce cash withdrawals at ATMs using debit cards. Before the abolition, consumers in Ireland paid an annual fee of US$3.3 (EUR2.5) for ATM cards and US$6.6 (EUR5) for a combination of debit and ATM card. The government replaced the duty with a new fee of US$0.16 (EUR0.12) for each cash withdrawal, in addition to the bank charges. However, there are no charges for debit card transactions at POS terminals. This initiative is anticipated to encourage debit card use at POS terminals.
- Uptake of contactless technology among Irish consumers is growing. To encourage contactless transactions, the Irish government increased the contactless payment limit from US$16.7 (EUR15) to US$33.3 (EUR30) from October 31, 2015. On February 16, 2016, Visa Europe announced that 1 million contactless transactions on Visa cards are made every week in Ireland, as a result of the increased spending limit, compared to 2 million transactions per month in September 2015. Banks are also taking steps to encourage contactless transactions. For instance, in September 2015 Allied Irish Banks (AIB) announced plans to waive fees for contactless transactions for one year from the date of announcement.
- The growing payment cards market has encouraged several mobile POS (mPOS) solution providers to enter the Irish market. The latest is the launch of a low-cost mPOS terminal by UK-based online solution provider Payleven (now SumUp) in March 2015. The mPOS terminal costs US$71.1 (EUR64). In October 2014, another UK-based online payment solution provider, Paysafe, partnered with domestic mPOS solution provider Handpoint to introduce mPOS terminals in Ireland. The terminals are compatible with Android and iOS smartphones and tablets, and can be linked via Bluetooth. The introduction of low-cost solutions is expected to encourage merchants to accept card-based payments, further driving payment card transaction volumes and values.
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