DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Malaysia Cards and Payments Market - Size, Share, Development, Growth and Forecast to 2020" report to their offering.
In terms of number of cards in circulation, the Malaysian payment cards market grew at a CAGR of 3.5% during the period 2012-2014. Malaysia's GDP per capita increased from MYR 32,905 in 2012 to MYR 36,162 in 2014. GDP per capita is likely to increase further over the forecast period, from MYR 37,761 in 2015 to MYR 53,892 in 2020. The increase in GDP per capita income levels is expected to increase the scope of payment cards use over the forecast period.
The use of non-cash retail payments continued to grow with the average number of non cash transactions per capita increasing to 88 in 2015, compared to 55 transactions in 2011. The most common non cash payments were e-money transactions, mainly transit payments using prepaid cards. This was followed by credit transfers and payment card transactions. In contrast, the use of cheques by businesses and consumers continued to decline, with the number of cheques issued per capita falling further from 7 cheques in 2012 to 5 cheques in 2015.
Credit cards are primarily used by consumers at POS terminals for retail purchases, rather than for cash withdrawals at ATMs. In 2014, transactions at POS terminals accounted for 99% of total credit card transactions in Malaysia. MasterCard was the leading scheme in the credit card market in 2014. The frequency of credit card use increased at a CAGR of 3.2% during 2012-2014. The frequency of transaction is expected to reach up to 37.6 times by 2020.
In January 2016, Maybank partnered with Visa and introduced the first contactless wearable, Maybank Visa Payband. The wearable Payband allows consumers to make contactless payments in few seconds, supported by strong infrastructure assistance provided by Visa's payWave contactless technology's coverage at 1,000 plus locations across Malaysia.
Key players in the Malaysia cards and payments market:
- Maybank
- Bank Simpanan Nasional
- Public bank Berhad
- CIMB
- Hong Leong Bank
- RHB Bank
- Citibank
Key Topics Covered:
1. Definitions
2. Research Methodology
3. Executive Summary
4. Key Industry Drivers
5. Payment Channels
6. Terminal Statistics
7. Payment Card Market Analysis
8. Debit Card Market Analysis
9. Credit Card Market Analysis
10. Charge Card Market Analysis
11. Card Fraud
12. Prepaid Card Market Analysis
13. Card Market by Customer Segments
14. Competitive Landscape
- Bank Simpanan Nasional
- Cimb Bank
- Maybank
- Public Bank Bhd
For more information visit http://www.researchandmarkets.com/research/qth3tt/malaysia_cards
