Emerging Opportunities in Hungary’s Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape

Published: November 2012
No. of Pages: 103
  

Synopsis

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

  • Current and forecast values for each segment of Hungary’s cards and payments market 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 Hungary''s cards and payments market
  • Detailed analysis of the marketing strategies adopted for selling prepaid 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 Hungary''s cards and payments market

Summary

The card industry in Hungary grew at a CAGR of 0.82% during the review period. The growth was mainly driven by the debit card category which grew at a CAGR of 1.52%. There was a general aversion to credit-fuelled spending as reflected by the declines in the credit and charge card categories. Credit cards declined at a CAGR of -3.70% during the review period, and charge cards at a CAGR of -1.23%. The prepaid card category posted the highest growth during the review period and grew at a CAGR of 9.05%. Prepaid cards will be an emerging growth opportunity in Hungary’s cards and payments industry. The category accounted for 2% of the industry during the review period and is expected to occupy 2.8% over the forecast period. The category grew by 9.05% during the review period and is expected to grow at a CAGR of 11.46% over the forecast period. The emergence of contactless payments, near field communication (NFC) enabled smartphones, and the encouragement of cashless festivals in Hungary are expected to encourage the use of these cards. Closed-loop prepaid cards, issued by retail outlets, are expected to be the prime drivers of the category over the forecast period, with an expected CAGR of 16.89%.

Scope

  • This report provides a comprehensive analysis of Hungary’s cards and payments market
  • It provides current values for Hungary’s cards and payments market for 2011 and forecast figures for 2016
  • It details the different macroeconomic, infrastructural, consumer and business drivers affecting Hungary’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 in Hungary’s cards and payments market

Reasons To Buy

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

Key Highlights

  • The card industry in Hungary grew at a CAGR of 0.82% during the review period. The growth was mainly driven by the debit card category which grew at a CAGR of 1.52%.
  • Credit cards declined at a CAGR of -3.70% during the review period, and charge cards at a CAGR of -1.23%. The prepaid card category posted the highest growth during the review period and grew at a CAGR of 9.05%.
  • The emergence of NFC technology encouraged card use among Hungarian customers. NFC technology can be incorporated into mobile devices that have an NFC interface, and NFC-enabled smartphones can function as a contactless payment solution, which speeds up the processing of transactions and ensures greater security.
  • In Hungary, price, convenience and value-added services are deciding factors when purchasing credit, debit and closed-loop prepaid cards.
  • The Hungarian SEPA Association was established in 2008 and is expected to encourage growth in the cards and payments industry by incorporating SEPA standards.

Emerging Opportunities in Hungary’s Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape

Table of Contents

1 Executive Summary

2 Market Attractiveness and Future Prospects of Cards and Payments Industry

3 Analysis of Cards and Payments Industry Drivers
3.1 Macroeconomic Drivers
3.1.1 Gross domestic product growth rate (GDP)
3.1.2 Unemployment rate
3.1.3 Total investment outlay
3.1.4 Inflation rate
3.1.5 Benchmark interest rate
3.2 Infrastructure Drivers
3.2.1 NFC technology in smartphones
3.2.2 Emergence of contactless payments
3.2.3 Contactless-enabled devices
3.2.4 Internet penetration
3.2.5 Increasing acceptance of EMV cards
3.2.6 Growing number of ATMs
3.2.7 Growing number of POS terminals
3.3 Business Drivers
3.3.1 Mobile commerce
3.3.2 Virtual payment cards
3.3.3 Online commerce through personal computers and laptops
3.3.4 Social gifting firms
3.4 Consumer Drivers
3.4.1 Gross average monthly wages
3.4.2 Growth of tourism
3.4.3 Urbanization
3.5 Card Fraud Statistics
3.5.1 Card fraud by channel
3.6 Regulatory Framework
3.6.1 Regulatory standards in Hungary’s cards and payments industry
3.6.2 SEPA Card standardization
3.6.3 Principles related to interchange fees
3.6.4 Rules under Credit Institutions and Financial Enterprises Act CXII of 1996
3.6.5 Anti-money laundering (AML) legislation and Customer Due Diligence (CDD)

4 Emerging Consumer Attitudes and Trends
4.1 Industry Segmentation and Targeting
4.1.1 Retail segment
4.1.2 Corporate segment
4.2 Consumer Preference
4.2.1 Price
4.2.2 Convenience
4.2.3 Value added services
4.2.4 Rewards
4.2.5 Security
4.2.6 Problem resolution
4.2.7 Brands
4.3 Online Buying Behaviour
4.4 Preferred Payment Methods
4.4.1 Preferred payment methods for online travel purchases

5 Competitive Landscape and Industry Dynamics
5.1 Market Share Analysis by Payment Channels
5.1.1 Overview of payment channels
5.1.2 Credit transfers
5.1.3 Direct debit
5.1.4 Card payments
5.2 Debit Cards Market Share
5.2.1 By bank
5.2.2 By scheme
5.3 Credit Cards Market Share
5.3.1 By bank
5.3.2 By scheme
5.4 Charge Cards Market Share
5.4.1 By scheme

6 Strategies Adopted by Key Players
6.1 Market Entry Strategies
6.2 Marketing Strategy
6.2.1 Debit card marketing strategy
6.2.2 Credit card marketing strategy
6.3 Pricing Strategies
6.3.1 Credit card pricing
6.3.2 Debit card pricing

7 Market Size and Growth Potential of Payment Card Industry
7.1 Market Share Analysis by Type of Card
7.2 Total Market Size and Forecast of Card Industry
7.2.1 Analysis by number of cards
7.2.2 Analysis by transaction value
7.2.3 Analysis by transaction volume
7.3 Debit Card Market Size and Forecast
7.3.1 Analysis by number of cards
7.3.2 Analysis by transaction value
7.3.3 Analysis by transaction volume
7.3.4 Other key performance indicators
7.3.5 Use of debit cards at ATMs and POS terminals
7.4 Prepaid Card Market Size and Forecast
7.4.1 Analysis by number of cards
7.5 Charge Card Market Size and Forecast
7.5.1 Analysis by number of cards
7.5.2 Analysis by transaction value
7.5.3 Analysis by transaction volume
7.6 Credit Card Market Size and Forecast
7.6.1 Analysis by number of cards
7.6.2 Analysis by transaction value
7.6.3 Analysis by transaction volume
7.6.4 Other key performance indicators

8 Company Profiles, Products and Marketing Strategies
8.1 CIB Bank
8.1.1 Strategies
8.1.2 Credit cards offered
8.1.3 Debit cards offered
8.2 K&H Bank
8.2.1 Strategies
8.2.2 Credit cards offered
8.2.3 Debit cards offered
8.3 MKB Bank
8.3.1 Strategies
8.3.2 Credit cards offered
8.3.3 Debit cards offered
8.4 Citibank
8.4.1 Strategies
8.4.2 Credit cards offered
8.4.3 Debit cards offered

9 Appendix
9.1 Methodology
9.2 Definitions
9.3 Methodology
9.4 Contact Us
9.5 About Timetric
9.6 Disclaimer

List of Tables

Table 1: MasterCard Interchange Fee
Table 2: Visa Interchange Fee
Table 3: Hungary – Payment Channels (HUF Million), 2008 and 2012
Table 4: Market Entry Strategies of Banks
Table 5: Credit Card Fee of Selected Banks
Table 6: Debit Card Fee of Selected Banks
Table 7: Hungary – Cards and Payments Industry by Type of Card (Thousands), 2008–2017
Table 8: Hungary – Industry Size by Volume (Thousands), 2008–2017
Table 9: Hungary – Industry Size by Transaction Value (HUF Million), 2008–2017
Table 10: Hungary – Industry Size by Transaction Value (US$ Million), 2008–2017
Table 11: Hungary – Industry Size by Transaction Volume (Million), 2008–2017
Table 12: Hungary – Debit Card Category Size (Thousands), 2008–2017
Table 13: Hungary – Debit Card Category Size (HUF Million), 2008–2017
Table 14: Hungary – Debit Card Category Size (US$ Million), 2008–2017
Table 15: Hungary – Debit Card Category Size by Transaction Volume (Million), 2008–2017
Table 16: Hungary – Card Category Size by Frequency of Use (Transaction/Card/Year), 2008–2017
Table 17: Hungary – Prepaid Card Category Size (Thousands), 2008–2017
Table 18: Hungary – Open-Loop Prepaid Cards Segment Size (Thousands), 2008–2017
Table 19: Hungary – Closed-Loop Prepaid Cards Segment Size (Thousands), 2008–2017
Table 20: Hungary – Prepaid Cards Category Size (HUF Million), 2008–2017
Table 21: Hungary – Prepaid Cards Category Size (US$ Million), 2008–2017
Table 22: Hungary – Charge Card Category Size (Thousands), 2008–2017
Table 23: Hungary – Charge Card Category Size (HUF Million), 2008–2017
Table 24: Hungary – Charge Card Category Size (US$ Million), 2008–2017
Table 25: Hungary – Charge Card Category Size by Transaction Volume (Million), 2008–2017
Table 26: Hungary – Charge Card Category Size by Frequency of Use (Transaction/Card/Year), 2008–2017
Table 27: Hungary – Credit Card Category Size by Volume (Thousands), 2008–2017
Table 28: Hungary – Credit Card Category Size by Transaction Value (HUF Million), 2008–2017
Table 29: Hungary – Credit Card Category Size by Transaction Value (US$ Million), 2008–2017
Table 30: Hungary – Credit Card Category Size by Transaction Volume (Million), 2008–2017
Table 31: Hungary – Credit Card Category Size by Frequency of Use, 2008–2017
Table 32: Hungary – Credit Card Category Size by Average Transaction Value (HUF), 2008–2017
Table 33: Hungary – Credit Card Category Size by Average Transaction Value (US$), 2008–2017
Table 34: Key Definitions

List of Figures

Figure 1: Current and Future Prospects of Various Cards in Hungary
Figure 2: Growth Potential of Hungarian Cards by Area of Usage
Figure 3: Cards and Payments Industry Drivers
Figure 4: Hungary – GDP Growth Rate (%), 2008–2017
Figure 5: Hungary – Unemployment Rate (%), 2008–2017
Figure 6: Hungary – Investment Growth Rate (%), 2008–2017
Figure 7: Hungary – Inflation Rate (%), 2008–2017
Figure 8: Number of ATMs in Hungary (Thousands), 2008-2017
Figure 9: Hungary – Number of POS Terminals (Thousands), 2008-2017
Figure 10: CIB Bank, Virtual Cards
Figure 11: Gross Average Monthly Wages of Full Time Employees (HUF/Month/Person), 2008–2012
Figure 12: Direct Contribution of Travel and Tourism to GDP (HUF Billion), 2008–2012
Figure 13: Growth of the Rural and Urban Populations (%), 2008–2012
Figure 14: Card Fraud Statistics by Channel (HUF Million), 2008–2012
Figure 15: Number of Internet Subscriptions (Million), 2008–2012
Figure 16: Number of Mobile Internet Subscriptions (Million), 2009–2011
Figure 17: Online Payment Methods For Travel Purchases (%)
Figure 18: Hungary – Share of Payment Channels (%), 2012
Figure 19: Hungary – Value and Growth of Credit Transfer (HUF Million), 2008–2012
Figure 20: Hungary – Value and Growth of Direct Debit (HUF Million), 2008–2012
Figure 21: Hungary – Value and Growth of Card Payment (HUF Million), 2008–2012
Figure 22: Hungary – Debit Card Share by Banks (%), 2011
Figure 23: Hungary – Debit Card Share by Schemes (%), 2011
Figure 24: Hungary – Credit Card Share by Bank (%), 2011
Figure 25: Hungary – Credit Card Share by Scheme (%), 2011
Figure 26: Hungary – Charge Card Share by Scheme (%), 2011
Figure 27: Debit Card Marketing Strategy
Figure 28: Credit Card Marketing Strategy
Figure 29: Hungary – Cards and Payments Industry by Type of Card (%), 2008–2017
Figure 30: Hungary – Industry Size by Volume (Thousands), 2008–2017
Figure 31: Hungary – Industry Size by Transaction Value (HUF Million), 2008–2017
Figure 32: Hungary – Industry Size by Transaction Volume (Million), 2008–2017
Figure 33: Hungary – Debit Card Category Size (Thousands), 2008–2017
Figure 34: Hungary – Debit Card Category Size (HUF Million), 2008–2017
Figure 35: Hungary – Debit Card Category Size by Transaction Volume (Million), 2008–2017
Figure 36: Hungary – Card Category Size by Frequency of Use (Transaction/Card/Year), 2008–2017
Figure 37: Debit Card Usage ATMs and POS Terminals (Million), 2008–2017
Figure 38: Hungary – Prepaid Card Category Size (Thousands), 2008–2017
Figure 39: Hungary – Open-Loop Prepaid Cards Segment Size (Thousands), 2008–2017
Figure 40: Hungary – Closed-Loop Prepaid Cards Segment Size (Thousands), 2008–2017
Figure 41: Hungary – Prepaid Cards Category Size (HUF Million), 2008–2017
Figure 42: Hungary – Charge Card Category Size (Thousands), 2008–2017
Figure 43: Hungary – Charge Card Category Size (HUF Million), 2008–2017
Figure 44: Hungary – Charge Card Category Size by Transaction Volume (Million), 2008–2017
Figure 45: Hungary – Charge Card Category Size by Frequency of Use (Transaction/Card/Year)
Figure 46: Hungary – Credit Card Category Size by Volume (Thousands), 2008–2017
Figure 47: Hungary – Credit Card Category Size by Transaction Value (HUF Million), 2008–2017
Figure 48: Hungary – Credit Card Category Market Size by Transaction Volume (Million), 2008–2017
Figure 49: Hungary – Credit Card Category Size by Frequency of Use, 2008–2017
Figure 50: Hungary – Credit Card Category Size by Average Transaction Value (HUF), 2008–2017
Figure 51: CIB Bank – Segmentation of Cards Offered
Figure 52: K&H Bank – Segmentation of Cards Offered
Figure 53: MKB Bank – Segmentation of Cards Offered
Figure 54: Citibank – Segmentation of Cards Offered

Published By: Timetric
Product Code: Timetric431


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