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
    ReportsandReports

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.

Published By: Timetric
Product Code: Timetric2608


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