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Retailer Payments, Banking, Insurance and Assistance in Italy investigates the market for financial services organised by over 150 major retail brands in Italy. As well as examining their initiatives in payment cards, banking products, insurance and assistance, the study also examines their involvement in proprietary and coalition loyalty programs, and details the online payment mechanisms accepted by those with an online sales capability. Among other data points, the report and PartnerBASE™ dataset that accompanies it embrace the following information about the retailers covered:

- whether they offer their own credit, debit or prepaid cards and, if so, the card issuers that they work with in this context if they do not issue the cards themselves;

- whether they are linked to one or more loyalty programs and, if so, whether these are proprietary or coalition schemes;

- whether they make non-card point-of-sale finance available to their customers and, if so, the finance providers that they employ for this purpose;

- whether they promote mainstream banking products such as general-purpose personal loans, mortgages and savings accounts and, if so, the partners that they co-operate with;

- whether they distribute accident, dental, health, household, life, motor, pet or travel insurance, or any kind of assistance services and, if so, the insurance or assistance providers used;

- for retail brands with an online sales capability, the payment means and providers that they accept for online purchases with consideration of payment cards, online accounts, mobile payments, bank transfers and other online payment options.

The report and PartnerBASE™ dataset can be used in the following ways:

- to gain access to a comprehensive source of information that provides detailed insights into the involvement of major retail brands in Italy in payments, banking, insurance and assistance;

- to monitor the activity of key competitors in retailer financial services including Agos Ducato, Carrefour Bank, Consel, Fiditalia, and Findomestic;

- to understand the potential in Italy for converting proprietary retailer loyalty cards and coalition loyalty schemes into fully-fledged payment cards;

- to evaluate the extent to which consolidation among conventional banks is opening up opportunities for new retailer banks to emerge as ‘consumer champions';

- to appreciate the range of online payment choices open to consumers in Italy who buy products and services through the websites of major retail groups.

Table Of Contents

Retailer Payments, Banking, Insurance and Assistance in Italy
TABLE OF CONTENTS

0.0 EXECUTIVE SUMMARY 1

1.0 INTRODUCTION 3

What is this report about? 3
Rationale 3
In many countries, consumers are tending to gravitate to larger retailers and to buy more online 3
which throws up new opportunities in payments, banking, insurance and assistance 3
Methodology 4
Survey of retailers 4
The survey's scope covers 173 important retail brands grouped across ten categories 4
Definitions 5
Payment, banking, insurance and assistance products and services 5
Operating models 7
Weighted shares 7
PartnerBASE 7
Finaccord 8

2.0 MARKET ANALYSIS 9

Introduction 9
Retailer payment cards 10
Credit, debit and prepaid cards 10
Less than 20% of major retail brands in Italy operate their own co-branded or private label payment card 10
with three major external card issuers involved in the majority of relationships 10
BNP Paribas is involved in both joint ventures found in the retail payment card sector 11
By weighted share of partnerships, Findomestic is ranked first 12
Roughly 30% of retailer cards run on private payment networks in Italy… 13
…while MasterCard surpasses both private network and Visa cards when shares are weighted 13
Fuel retail brands are most likely to have introduced their own payment card 15
… while no retailer operating exclusively online has introduced its own payment card 15
Gift cards 17
Just over a quarter of major Italian retailers offer a stored-value gift card 17
with initiatives for these products visible across almost all retailer categories 17
Retailer loyalty programs 19
Over half of retail brands surveyed participate in some form of loyalty program 19
Specialist retailers of consumer electronics are least likely to have a loyalty program 19
Proprietary loyalty programs 21
Just under a half of major retail chains in Italy have launched their own proprietary loyalty scheme 21
Coalition loyalty programs 21
Two coalition loyalty programs count retail brands among their members in Italy 21
Nectar is the only coalition scheme to feature either a linked payment card or a loyalty card 21
Consumer finance 22
Provision rates for point-of-sale finance are marginally higher than those for credit cards 22
… although the providers used by retailers are often the same where both are offered 22
In both unweighted and weighted terms, Agos Ducato has a commanding share of partnerships 23
Retailers of consumer electronics feature the highest provision rate for consumer finance 25
Banking products 27
Overview 27
Only three retailer brands in Italy offer mainstream banking products to their customers 27
Personal loans, mortgages and savings accounts 27
two of which market general-purpose personal loans 27
International payments / remittances 29
Insurance and assistance 30
A total of five major retail chains in Italy promote mainstream forms of insurance of the type researched 30
All insurance distribution partnerships among retailers are organised via a single, external partner 30
Genialloyd's multiple partnerships overcome the effects of weighting 32
Consumer research data illustrates the extent to which retailers are making headway in insurance 34
Online payments 34
Acceptance rates 34
Online accounts are accepted by three quarters of major retail brands with an online sales capability 34
Payment cards 35
12 different payment card brands enjoy online acceptance among major retailers in Italy 35
Online accounts 36
PayPal enjoys acceptance by almost 80% of retailers operating online 36
Mobile payments 39
Bank transfers 39
Direct bank transfers enjoy high acceptance rates across almost all retailer categories 39
Other methods of online payment 40
Most retail brands also accept payments on delivery (COD) 40

3.0 APPENDIX 41

Major captives and joint ventures 41



LIST OF GRAPHICS / TABLES

0.0 EXECUTIVE SUMMARY 1

Provision rates for key payment, banking, insurance and assistance products, adherence rates for loyalty schemes and online payment product acceptance rates among retailers in Italy, 2013 2

1.0 INTRODUCTION 3

Retailers researched in Italy, segmented by category, 2013 4
Retailers researched in Italy segmented by distribution model, 2013 5

2.0 MARKET ANALYSIS 9

Provision rate for payment cards by retailers in Italy, 2013 10
Retailer payment cards in Italy: provision rate and operating models, 2013 11
Retailer payment cards in Italy: unweighted and weighted issuer share of partnerships, 2013 12
Retailer payment cards in Italy: unweighted and weighted network share of partnerships, 2013 14
Provision of retailer payment cards by retailer category and distribution model in Italy, 2013 16
Provision of retailer gift cards by retailer category and distribution model in Italy, 2013 18
Retailer loyalty programs in Italy: provision rates, program types and links to payment and other cards, 2013 19
Provision of or involvement in loyalty programs by retailer category and distribution model in Italy, 2013 20
Coalition loyalty programs in Italy: unweighted share of retailer brand members, 2013 22
Retailer consumer finance in Italy: provision rate and operating models, 2013 23
Retailer consumer finance in Italy: unweighted and weighted provider share of partnerships, 2013 24
Provision of retailer consumer finance by retailer category and distribution model in Italy, 2013 26
Retailer provision of other banking products and services in Italy, 2013 27
Retailer personal loans, mortgages and savings accounts in Italy: provision and operating models, 2013 28
Retailer personal loans, mortgages and savings accounts in Italy: unweighted and weighted provider share of partnerships, 2013 29
Retailer insurance and assistance in Italy: provision by type of insurance, 2013 30
Retailer insurance and assistance in Italy: provision and operating models, 2013 31
Retailer insurance and assistance in Italy: unweighted and weighted provider share of partnerships, 2013 32
Provision of insurance and assistance by retailer category and distribution model in Italy, 2013 33
Retailer online payment acceptance in Italy: acceptance rates by payment type, 2013 34
Payment cards accepted as an online payment mechanism by retailers in Italy: unweighted and weighted network share of acceptance, 2013 36
Online accounts accepted as an online payment mechanism by retailers in Italy: unweighted and weighted provider share of acceptance, 2013 37
Acceptance of online accounts as an online payment mechanism by retailer category in Italy, 2013 38
Acceptance of direct bank transfers as an online payment mechanism by retailer category in Italy, 2013 39
Acceptance of other types of online payment mechanisms by retailer category in Italy, 2013 40

3.0 APPENDIX 41

Retailer captives and joint ventures in payments, banking, insurance and assistance in Italy: operating models, partners and ownership, 2013 41

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