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  4. > Retailer Payments, Banking, Insurance and Assistance in Spain

Retailer Payments, Banking, Insurance and Assistance in Spain investigates the market for financial services organised by over 150 major retail brands in Spain. 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 Spain in payments, banking, insurance and assistance;

- to monitor the activity of key competitors in retailer financial services including Cofidis, FinConsum, Oney Servicios Financieros, Santander Consumer Finance and unoe;

- to understand the potential in Spain 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 Spain who buy products and services through the websites of major retail groups.

Table Of Contents

Retailer Payments, Banking, Insurance and Assistance in Spain
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 169 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
Just over a quarter of major retail brands in Spain offer a co-branded or private label payment card 10
with over a half issued by a fairly broad range of external partners 10
Internal, captive or joint venture provision is adhered to by nearly 40% of Spanish retailers with cards… 11
…including the various brands owned by El Corte Ingles 11
Cofidis is active as an issuer of retailer cards in Spain both as an external partner and as a joint venture 11
By weighted share of partnerships, unoe is ranked first among providers of retailer cards 13
Over half of retailer cards run on private networks in Spain 14
When viewed by network, unweighted and weighted partnership shares are broadly similar 14
Fuel retail brands are most likely to have introduced their own payment card 16
… with offline retailers more likely than either online-only or mixed retailers to offer a card 16
Gift cards 18
Just under a quarter of major Spanish retailers offer a stored-value gift card 18
with initiatives for these products visible across all retailer categories 18
Retailer loyalty programs 20
Just under half of retail brands surveyed participate in any form of loyalty program 20
Specialist retailers of consumer electronics are least likely to have a loyalty program 20
Proprietary loyalty programs 22
Just over 40% of major retail chains in Spain have launched their own proprietary loyalty scheme 22
Coalition loyalty programs 22
To one extent or another, five coalition loyalty programs are adhered to by retailers in Spain 22
The internet-based Maximiles scheme has the most active retail partners in Spain… 22
…while the Turyocio coalition program has experienced a decrease in member retailers 22
Consumer finance 23
Provision rates for point-of-sale finance are slightly lower than those for credit cards 23
… although the providers used by retailers are often the same where both are offered 23
Santander, Cetelem and Cofidis are all involved in roughly the same number of programs… 23
…with Cetelem showing only a very slight advantage in weighted terms 24
Retailers of consumer electronics feature the highest provision rate for consumer finance 25
Banking products 27
Overview 27
Only two retailer brands in Spain offer mainstream banking products to their customers 27
Personal loans, mortgages and savings accounts 28
both of which involved the distribution of general-purpose personal loans 28
International payments / remittances 29
Insurance 30
Only four major retail chains in Spain promote mainstream forms of insurance of the type researched 30
Over a half of insurance distribution partnerships among retailers involve a captive broker or underwriter 30
For El Corte Ingles, insurance services are a secondary but significant source of revenue 31
Less than a half of categories feature any insurance or assistance provision 33
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 over a half of major retail brands with an online sales capability 34
Payment cards 35
Eight different payment card brands enjoy online acceptance among major retailers in Spain 35
Online accounts 36
PayPal enjoys a monopoly as a provider of online accounts among online retailers in Spain 36
Eight out of ten fashion brands accept online accounts for payments via the internet 37
Mobile payments 38
Only one major online brand in the survey accepts mobile payments for purchases online 38
Bank transfers 39
Direct bank transfers enjoy high acceptance rates in certain retailer categories 39
Other methods of online payment 40
Payments on delivery (COD) are by far the most common type of payment in the 'other' category 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 Spain, 2013 2

1.0 INTRODUCTION 3

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

2.0 MARKET ANALYSIS 9

Provision rate for payment cards by retailers in Spain, 2013 10
Retailer payment cards in Spain: provision rate and operating models, 2013 12
Retailer payment cards in Spain: unweighted and weighted issuer share of partnerships, 2013 13
Retailer payment cards in Spain: unweighted and weighted network share of partnerships, 2013 15
Provision of retailer payment cards by retailer category and distribution model in Spain, 2013 17
Provision of retailer gift cards by retailer category and distribution model in Spain, 2013 19
Retailer loyalty programs in Spain: provision rates, program types and links to payment and other cards, 2013 20
Provision of or involvement in loyalty programs by retailer category and distribution model in Spain, 2013 21
Coalition loyalty programs in Spain: unweighted share of retailer brand members, 2013 23
Retailer consumer finance in Spain: provision rate and operating models, 2013 24
Retailer consumer finance in Spain: unweighted and weighted provider share of partnerships, 2013 25
Provision of retailer consumer finance by retailer category and distribution model in Spain, 2013 26
Retailer provision of other banking products and services in Spain, 2013 27
Retailer personal loans, mortgages and savings accounts in Spain: provision and operating models, 2013 28
Retailer personal loans, mortgages and savings accounts in Spain: unweighted and weighted provider share of partnerships, 2013 29
Retailer insurance in Spain: provision by type of insurance, 2013 30
Retailer insurance in Spain: provision and operating models, 2013 31
Retailer insurance in Spain: unweighted and weighted provider share of partnerships, 2013 32
Provision of insurance and assistance by retailer category and distribution model in Spain, 2013 33
Retailer online payment acceptance in Spain: acceptance rates by payment type, 2013 34
Payment cards accepted as an online payment mechanism by retailers in Spain: unweighted and weighted network share of acceptance, 2013 35
Online accounts accepted as an online payment mechanism by retailers in Spain: unweighted and weighted provider share of acceptance, 2013 36
Acceptance of online accounts as an online payment mechanism by retailer category in Spain, 2013 37
Mobile payment services accepted as an online payment mechanism by retailers in Spain: unweighted and weighted provider share of acceptance, 2013 38
Acceptance of direct bank transfers as an online payment mechanism by retailer category in Spain, 2013 39
Acceptance of other types of online payment mechanisms by retailer category in Spain, 2013 40

3.0 APPENDIX 41

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

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