NEW YORK, Oct. 15, 2015 /PRNewswire/ -- Synopsis
Timetric's 'The Cards and Payments Industry in South Korea: Emerging Trends and Opportunities to 2019' report provides detailed analysis of market trends in South Korea's cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including check payments, credit transfers, direct debits, payment cards and cash transactions during the review period (2010–2014).
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 (2015–2019). It also offers information on the country's competitive landscape, including 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 detailed regulatory policies, recent changes in regulatory structure, card fraud statistics, and profiles of card issuers operating in the country.
Timetric's 'The Cards and Payments Industry in South Korea: Emerging Trends and Opportunities to 2019' report provides top-level market analysis, information and insights into South Korea's cards and payments industry, including:
- Current and forecast values for each market in South Korea's cards and payments industry, including debit cards, credit and charge cards. It also includes detailed analysis of the prepaid cards market.
- Detailed insights into payment instruments including check payments, credit transfers, direct debits, payment cards and cash transactions. It also, includes an overview of the country's key alternative payment instruments.
- Analysis of various market drivers and regulations governing South Korea's cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit, credit and charge cards.
- Comprehensive analysis of consumer attitudes and buying preferences for cards.
- The competitive landscape of South Korea's cards and payments industry.
- 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 2014, and forecast figures to 2019.
- It details the different economic, infrastructural and business drivers affecting South Korea's cards and payments industry.
- It outlines the current regulatory framework in the industry.
- It details marketing strategies used by various banks and other institutions.
- It profiles major banks in South Korea's cards and payments industry.
Reasons To Buy
- Make strategic business decisions, using top-level 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 in South Korea's cards and payments industry.
- Assess the competitive dynamics in South Korea's cards and payments industry.
- Gain insights into marketing strategies used for various card types in South Korea.
- Gain insights into key regulations governing South Korea's cards and payments industry.
- Mobile payments (m-payments) are gaining prominence in South Korea, with banks, non-banks and telecoms companies competing with each other to gain market share. Banks such as Kookmin Bank, Hana Bank and Shinhan Bank have offered m-payment services since 2012, and non-banks such as Naver and Daum Kakao launched m-payment services in the ensuing years. To capitalize on this trend, Samsung is planning to launch its m-payment Samsung Pay in South Korea in the second half of 2015, creating competition in m-payments.
- The South Korean banking industry will block the use of magnetic stripe plastic cards in all of the country's 125,888 ATMs from May 2015. Announcing the policy, Financial Supervisory Service (FSS) cited the need for enhanced security and fraud prevention at ATMs. The shift to a chip-card-only policy began in March 2015, following successful trials of chip cards for cash advances and credit card loans at ATMs.
- An increase in household debt prompted the South Korean government to introduce measures to discourage credit card spending. The Financial Services Commission (FSC) increased the daily purchase limit on debit card use from US$2,847 (KRW3 million) to US$5,659 (KRW6 million) from January 2014. The move promoted more frequent use of debit cards at POS terminals, driving transaction values.
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