DUBLIN--(http://www.researchandmarkets.com/research/5qdcbd/emerging) has announced the addition of the "Emerging Opportunities in Malaysia's Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape" report to their offering.)--Research and Markets (
“Emerging Opportunities in Malaysia's Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape”
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.
- 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.
Key Topics Covered:
1 Executive Summary
2 Market Attractiveness and Future Prospects of Cards and Payment Industry
3 Analysis of Cards and Payment Industry Drivers
4 Emerging Consumer Attitudes and Trends
5 Competitive Landscape and Industry Dynamics
6 Strategies Adopted by Key Competitors
7 Market Size and Growth Potential of Payment Card Industry
8 Company Profiles, Product, and Marketing Strategies
- RHB Bank
- Public Bank
For more information visit http://www.researchandmarkets.com/research/5qdcbd/emerging