DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/ndvdv4/irelands_cards) has announced the addition of the "Ireland's Cards and Payments Industry" report to their offering.
Irish payment cards registered positive growth during the review period (2009-2013), recording a compound annual growth rate (CAGR) of 3.75%, to reach 6.3 million cards in circulation by the end of 2013. Improvements to banking infrastructure such as the increased installation of point-of-sale (POS) terminals in merchant outlets drove the growth. In terms of transaction value, payment cards valued EUR49.1 billion (US$65.1 billion) in 2013, after registering a review-period CAGR of -0.22%. However, it is expected to expand over the forecast period (2014-2018), at a CAGR of 3.23%. In terms of transaction value, debit cards accounted for a 77.9% share in 2013, which is expected to rise further over the forecast period.
The banking sector transformed and adopted new technologies during the review period, which helped enhance customer experience by simplifying and speeding up many banking activities. Allied Irish Banks (AIB) took a vital step via its Learn About Banking (LAB) store. LAB is a high-street learning and research store which enables customers to understand the benefits of new banking technology. It collects feedback from users to understand their preferences and improve the service.
Mobile money is emerging as a popular alternative payment instrument in Ireland. Many banks offer the service, which only requires a recipient's mobile number to enable a funds transfer. Ulster Bank added the Pay Your Contacts function to its service portfolio in October 2013. Pay Your Contacts is a smartphone app that saves the users financial details once during installation. Via the app, users can send money to anyone in their contact list, provided the recipient also has the app. Similarly, Permanent TSB introduced a MobileMoney service in June 2014, and AIB launched its Me2U mobile money app in January, 2014.
- A large number of customers, primarily within the high-income bracket, are engaged in philanthropic activities. To cater these customers, banks have introduced programs whereby customers can donate a percentage of their total credit card expenditure to charitable programs. Bank of Ireland (BOI) offers the Affinity Credit Card which donates to the customer's choice of associated colleges such as the University College Dublin (UCD), University of Limerick, the National University of Ireland (NUI) Maynooth, NUI Galway, Trinity College Dublin and University College Cork (UCC).
Key Topics Covered:
1 Executive Summary
2 Analysis of the Industry Environment, Key Trends and Drivers
3 Cards and Payments Industry Share Analysis
4 Regulatory Framework and Card Fraud Statistics
5 Emerging Consumer Attitudes and Trends
6 Analysis of Payment Cards and Growth Prospects
7 Analysis of Credit Cards Market and Growth Prospects
8 Analysis of Debit Card Payments and Growth Prospects
9 Merchant Acquiring
10 Company Profiles of Card Issuers
11 Appendix
Companies Mentioned
- Allied Irish Banks (AIB)
- Bank of Ireland (BOI)
- MasterCard
- Permanent TSB
- Ulster Bank
- Visa
For more information visit http://www.researchandmarkets.com/research/ndvdv4/irelands_cards
