Description
Synopsis
The report provides market analysis,
information and insights into Luxembourg's cards and payments market,
including:
- Current and forecast values for
each category of Luxembourg's cards and payments industry including debit
cards, credit cards and prepaid cards
- Comprehensive analysis of the
industry’s market attractiveness and future growth areas
- Analysis of various market
drivers and regulations governing Luxembourg's cards and payments industry
- Detailed analysis of the
marketing strategies adopted for selling debit and credit 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
Luxembourg's cards and payments industry
To
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Executive summary
Luxembourg’s card payments channel
declined during the 2008–2012 review period in terms of the number of cards in
circulation. The discontinuation of the Mini-cash electronic payment system in
2011 adversely affected the prepaid cards category in the country, which
resulted in a decline in the overall card payments channel. The debit and
credit card categories, however, grew at a healthy pace during the review
period. In terms of the number of cards in circulation, the card payments
channel declined marginally from 2.4 million cards in 2008 to 2.3 million in
2012, at a CAGR of -1.61%. The channel is expected to grow from 2.4 million in
2013 cards to 2.6 million in 2017, at a CAGR of 2.94% over the forecast period.
Growth in internet penetration has resulted in increased online retail sales in
the country.
To benefit from this, banks are
increasingly expanding their internet banking infrastructure and offering web
payment cards. The increasing acceptance of cards at retail outlets and a
consumer shift towards making purchases using cards resulted in an increasing
number of POS transactions during the review period. The number of POS
transactions grew at a CAGR of 3.37% during the review period, and is projected
to grow at a CAGR of 2.80% over the forecast period, from 45.4 million
transactions in 2013 to 50.7 million in 2017.
Contact
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