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Romania Cards and Payments - Opportunities and Risks to 2023

Romania Cards and Payments - Opportunities and Risks to 2023

  • July 2020
  • 56 pages
  • ID: 5949745
  • Format: PDF
  • GlobalData
Up to $1650 off Until Sep 20th 2020

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Romania Cards and Payments - Opportunities and Risks to 2023

Summary
Romania Cards and Payments - Opportunities and Risks to 2023 report provides detailed analysis of market trends in the Romanian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, cards, credit transfers, cheques, and direct debits 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 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 Romanian cards and payments industry, including -
- Current and forecast values for each market in the Romanian cards and payments industry, including debit, credit and charge cards.
- Detailed insights into payment instruments including cash, cards, credit transfers, cheques, and direct debits. 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 Romanian cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit and credit.

Scope
- In April 2019, Transfond (the operator of the Automated Clearing House for Interbank Payments) partnered with National Bank of Romania, the Romanian Association of Banks, and commercial banks including Banca Transilvania and CEC Banka to launch an instant payment service in Romania. The service is based on the SEPA Instant Credit Transfer Scheme (SCT Inst), and allows money transfers between bank accounts 24/7 within 10 seconds, up to a maximum of RON50,000 ($11,730.38) per transaction. The service is available for both individual and corporate customers, and can be accessed via the internet and mobile banking channels of participating banks. In January 2020, Banca Comercial? Român? (BCR) (part of Erste Bank) introduced the service for its customers.
- Improving payments infrastructure and the presence of global players will further accelerate the shift towards cashless payments. Stripe, a globally renowned payment services provider, launched its operations in Romania in May 2020. It allows online merchants and vendors to accept payments for products and services offered through their own websites and mobile apps, online marketplaces, and platforms. Romanian merchants can now access the entire Stripe product range and accept online payments from around the world in 135 currencies.
- The growing adoption of contactless technology for transport payments will further drive the use of payment cards. In May 2020, BCR announced it would provide contactless payment readers across 160 buses and 15 trams in Craiova city (operated by transport company RAT Craiova), with implementation set for Q3 2020. Travelers can pay for their trips just by tapping their contactless cards on the readers installed on the vehicles. In the last two years the bank has installed readers in 13 cities across the country, with over 8.5 million contactless payments made via the system.

Reasons to Buy
- Make strategic business decisions, using top-level historic and forecast market data, related to the Romanian cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in the Romanian cards and payments industry.
- Assess the competitive dynamics in the Romanian cards and payments industry.
- Gain insights into marketing strategies used for various card types in Romania.
- Gain insights into key regulations governing the Romanian cards and payments industry.

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