DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/gpg4rt/polands_cards) has announced the addition of the "Poland's Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape" report to their offering.
The Polish card payments channel grew positively during the review period (2008-2012) at a compound annual growth rate (CAGR) of 3.59%, and is expected to continue to do so over the forecast period (2013-2017) at a CAGR of 4.87%. The review period saw declines in the credit and charge card categories that are expected to continue at lesser rates over the forecast period. Prepaid cards in circulation display huge potential for forecast-period growth, and are forecast to record a CAGR of 17.00%. The value of transactions made through credit and charge cards is very low compared to transactions through debit cards, reflecting the general aversion of Polish consumers to credit-fueled spending.
The credit card category declined at a review-period CAGR of -9.00%, and this is expected to continue over the forecast period. The value of transactions made through credit cards was also very small compared to debit and prepaid cards, and the decline in the number of cards reflects the tendency of Polish customers to avoid credit. In terms of transaction value, the credit cards category increased at a review-period CAGR of 4.56%, from PLN26.9 billion (US$11.2 billion) in 2008 to PLN32.1 billion (US$9.9 billion) in 2012. The value of transactions through credit cards is, however, expected to grow at a CAGR of 5.26% over the forecast period, primarily due to increased online payments and reductions in interchange fees in the country.
- The Polish card payments channel grew positively during the review period (2008-2012) at a compound annual growth rate (CAGR) of 3.59%, and is expected to continue to do so over the forecast period (2013-2017) at a CAGR of 4.87%. The Polish card payments channel is growing rapidly and becoming more competitive every year, with banks and card issuing companies now forced to offer more attractive products to retain their market positions. Significantly, the emergence of highly secure payment gateways increased public confidence in payment cards, and had a positive impact on the overall market development.
- The emergence of digital banking is expected to encourage online card transactions through mobile and e-commerce. Digital banks target online customers and combine platforms such as social networking and retail sites to facilitate payments.
- The growth of contactless payments has expanded the potential for card-based payments in Poland. Contactless cards introduced by MasterCard PayPass and Visa encouraged card-based transactions in retail outlets. Contactless terminals are being installed in public transport networks, colleges and parking lots, and contactless payments are also expected to be extended to public service points.
- The spread of contactless terminals in public transport networks enhanced their use by daily commuters. The contactless-enabled ticket vending machines have been initiated with the spread to the transport networks of Warsaw. Contactless ticketing machines were installed in 2012 for the Uefa Euro 2012 football championship. Payment terminals were installed in buses and trams, and were designed to accept payments up to US$15.
- BNP Paribas Bank Polska SA
- Bank Millennium
- Bank Pekao SA
- ING BSK
- PKO Bank Polski
For more information visit http://www.researchandmarkets.com/research/gpg4rt/polands_cards