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Serbia Cards and Payments - Opportunities and Risks to 2025

Serbia Cards and Payments - Opportunities and Risks to 2025

  • October 2021
  • 65 pages
  • ID: 5961532
  • Format: PDF
  • GlobalData


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Serbia Cards and Payments - Opportunities and Risks to 2025

‘Serbia Cards and Payments - Opportunities and Risks to 2025’ report provides detailed analysis of market trends in Serbia’s cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including credit transfers, cards, cheques, and direct debits during the review-period (2017-21e).

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 (2021e-25f). 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 Serbia’s cards and payments industry, including -
- Current and forecast values for each market in Serbia’s cards and payments industry, including debit, credit and charge cards.
- Detailed insights into payment instruments including credit transfers, cards, cheques, and direct debits. It also, includes an overview of the country’s key alternative payment instruments.
- Ecommerce market analysis.
- Analysis of various market drivers and regulations governing Serbia’s cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit, credit, and charge cards.
- Comprehensive analysis of consumer attitudes and buying preferences for cards.
- The competitive landscape of Serbia’s cards and payments industry

- Following the successful launch of the Instant Payments Serbia (IPS) platform by the National Bank of Serbia (NBS) (the country’s central bank), in February 2020 the NBS added QR code-based functionality to the system, enabling the payment of goods and services using mobile devices. The service enables users to scan an IPS QR code displayed at merchant outlets via mobile banking apps to process transactions. Banks are now increasingly adopting IPS QR codes. In April 2021, UniCredit Bank enabled payments of bills and invoices via IPS QR codes through its mobile banking app. Meanwhile, in May 2021, ProCredit Bank enabled IPS QR code payments for its customers.
- 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 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.
- Following the COVID-19 outbreak, contactless payments are increasingly gaining prominence in Serbia. According to a Visa survey conducted in May 2020, contactless payments using Visa cards increased by almost 70% compared to March 2019. All leading banks in the country now offer contactless-enabled payment cards. Amid COVID-19, in April 2020, Mastercard increased its contactless payment limit without a PIN from RSD3,000 ($31.21) to RSD4,000 ($41.62), while Visa increased its limit from RSD4,000 ($41.62) to RSD5,000 ($52.02). These moves have supported payment card market growth.

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

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