DUBLIN--(BUSINESS WIRE)--The "Austria Cards and Payments - Opportunities and Risks to 2023" report has been added to ResearchAndMarkets.com's offering.
'Austria Cards & Payments: Opportunities and Risks to 2023' report provides detailed analysis of market trends in the Austria cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, cards, credit transfers, direct debits, and cheques during the review-period (2015-19e).
The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2019e-23f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.
The report brings together the publisher's research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.
- The SEPA Instant Credit Transfer payment service has been available in Austria since November 2017. The service enables individuals to transfer a maximum of 15,000 ($16,840.51) within 10 seconds. Funds can be transferred instantly 24 hours a day, seven days a week, 365 days a year. In November 2018, TARGET Instant Payment Settlement was launched across the EU, including Austria. The service is based on SEPA Instant Credit Transfer and is an extension of TARGET2. Available at all times, the service also supports multi-currency transfers.
- Contactless payments are gaining popularity in Austria, and are mainly used for low-value retail purchases. In 2019, the number of payment cards that supported contactless was estimated at 12.1 million - up significantly from 9.0 million in 2015 at a strong review-period CAGR of 7.8%. To capitalize on the growing use of contactless in Austria, in October 2018 JCB International partnered with Austrian credit card issuer card complete Service Bank to offer JCB contactless cards that can be used at more than 10,000 merchants. Meanwhile, Mastercard collaborated with Erste Bank and Sparkassen to launch a new Mastercard contactless debit card in April 2019.
- To benefit from the growing e-commerce market, international online retailers are establishing their presence in the country. Most recently, in April 2020, Polish footwear retailer CCC Group launched its online shop CCC.eu in Austria. Growth in e-commerce will help drive electronic payments in the country.
- American Express
- BAWAG P.S.K.
- Erste Bank
- Raiffeisen Bank
- UniCredit Bank
- Apple Pay
- Blue Code
For more information about this report visit https://www.researchandmarkets.com/r/c0yjwb