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

Published: January 2013
No. of Pages: 89
    ReportsandReports

Synopsis

The report provides market analysis, information and insights into Malaysia's cards and payments market, including:

  • Current and forecast values for each segment of Malaysia'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 Malaysia'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 Malaysia's cards and payments market

Summary

While cash remains the dominant method of payment in Malaysia, there have been concerted efforts from issuers, the government and regulatory bodies to support card usage.

The nation's credit card category has expanded rapidly. A large part of this growth has been driven by government initiatives, such as a reduction of income requirements for prospective cardholders and minimum monthly repayments. All of this has made payment cards far more accessible, resulting in significant growth for the industry. In 2012, the transaction value of debit and credit cards recorded respective growth rates of 10.0% and 9.1% over figures from 2011. The industry value registered a CAGR of 10.88% during the review period (2008-2012) growing from MYR304.4 billion (US$91.7 billion) in 2008 to MYR460.1 billion (US$149.5 billion) in 2012.

Scope

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

Reasons To Buy

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

Key Highlights

  • The Malaysian cards and payments industry grew at a CAGR of 9.94% in volume terms during the review period and is forecast to post a projected CAGR of 7.62% over the forecast period. The growth in the volume of closed-loop and open-loop prepaid cards is expected to drive industry growth.
  • Prepaid cards dominated the industry with more than 93 million prepaid cards in circulation in 2012 compare to only 7.9 million credit cards and 39.6 million debit cards.
  • Contactless and mobile payments are being rolled out extensively across Malaysia. In April 2009, the world's first commercial near-field-communication (NFC) payment service for mobile phones was launched by Visa in conjunction with handset maker Nokia and payments facilitator Maybank.
  • In March 2011, Bank Negara Malaysia (BNM) introduced new regulation pertaining to the eligibility requirements of credit cards. These rules limited the issuing of credit cards to those who have an annual income of MYR24,000 (US$7,625) or more.
  • During the review period, the central bank mandated the use of chip-based automated teller machine (ATM) cards and EMV standards for credit cards.

Published By: Timetric
Product Code: Timetric2593


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