Serbia Cards and Payments Market Opportunities and Risks to 2024 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Serbia Cards and Payments - Opportunities and Risks to 2024" report has been added to ResearchAndMarkets.com's offering.

'Serbia Cards and Payments - Opportunities and Risks to 2024' report provides detailed analysis of market trends in the Serbian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including credit transfers, cards, direct debits, and cheques during the review-period (2016-20e).

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 (2020e-24f). 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.

This report provides top-level market analysis, information and insights into the Serbian cards and payments industry, including:

• Current and forecast values for each market in the Serbian cards and payments industry, including debit, credit, and charge cards.
• Detailed insights into payment instruments including credit transfers, cards, direct debits, and cheques. It also, includes an overview of the country's key alternative payment instruments.
• E-commerce market analysis.
• Analysis of various market drivers and regulations governing the Serbian cards and payments industry.
• Detailed analysis of strategies adopted by banks and other institutions to market debit, credit, and charge cards.

Scope

• Following the successful launch of Instant Payments Serbia (IPS) platform by the central bank, in February 2020 the central bank added QR code-based functionality to the system, enabling the payment of goods and services using mobile devices. The service enables users to scan the National Bank of Serbia (NBS) IPS QR code displayed at merchant outlets via their mobile banking app to process transactions.
• To promote electronic payments, in December 2019 the central bank developed the National Retail Payments Strategy 2019-2024 in co-operation with The World Bank. The strategy aims to achieve two key goals. Firstly, Serbia plans to double the current number of electronic payments per adult citizen by 2024. Secondly, the strategy is aiming to achieve adult bank account penetration of 90% by 2024. The strategy also aims to expand the country's payment infrastructure by providing more access points where daily payment transactions can be performed in a cost-effective manner.
• Contactless payments are gaining prominence in Serbia. According to Mastercard's Master Index Serbia 2018 report, 55% of Mastercard card holders made contactless payments in the country. Leading banks including Banca Intesa, OTP banka, and Raiffeisen Bank now offer contactless-enabled payment cards in Serbia. In May 2019, Societe Generale Bank introduced the mCard digital card, which is stored in the bank's mobile app, allowing users to make contactless payments using their mobile phone. The COVID-19 pandemic will further drive growth in contactless payments. In April 2020, Mastercard announced it would increase the contactless payment limit without a PIN from RSD3,000 ($28.65) to RSD4,000 ($38.20).

Companies Mentioned

• AIK Banka
• Banca Intesa
• Eurobank
• DinaCard
• American Express
• Mastercard
• NLB Banka
• OTP banka
• Raiffeisen Bank
• Visa
• Apple Pay
• Masterpass
• PayPal
• iWallet
• Wave2Pay
• KOMePAY
• AIKeWallet
• Fortumo

For more information about this report visit https://www.researchandmarkets.com/r/jzohda