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(MoneyNewsWire.Net, April 02, 2018 ) GlobalData's "Payments Landscape in South Africa: Opportunities and Risks to 2021", report provides detailed analysis of market trends in the South African cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including credit transfers, direct debit, cash, payment cards, and cheques during the review-period (2013-17e).
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 (2017-21f). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.
The report brings together GlobalData's research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in the regulatory structure.
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Key Vendors Mentioned:
Absa Bank
Standard Bank
Capitec Bank
FirstRand Bank
Nedbank
Visa
Mastercard
American Express
Diners Club
Scope:
- The uptake of alternative payments is gradually increasing in South Africa. In June 2017, Alipay was launched in South Africa in partnership with payment service provider Peach Payments. The partnership allows Chinese tourists to South Africa to pay with the Alipay app at authorized retailers. City Sightseeing - a tour bus operator - is the first merchant to offer the Alipay service in South Africa. Samsung is also in discussions with South African banks and regulators to launch Samsung Pay in South Africa. Visa and Mastercard have already introduced their respective Visa Checkout and Masterpass payment solutions to push electronic payments in the country.
- To combat the increased processing of unauthorized debit orders in the country, in June 2017 the Payments Association of South Africa (PASA) introduced a new type of debit order (direct debit) called DebiCheck. The new DebiCheck debit order can only be processed if it is electronically confirmed by the customer. Under the new system, consumers can authenticate DebiCheck debit orders in multiple ways including USSD messaging through mobile phones, banking applications, online banking, ATMs, or at bank branches. It will be implemented in a phased manner over the course of the next two years.
- To offer convenient payments, Mastercard has introduced several innovative solutions. It introduced a biometric payment card with fingerprint authentication in April 2017, following several trials in partnership with retailer Pick n Pay and Absa Bank. The solution allows card holders to verify in-store payment by scanning their fingerprints. The cards at available from any financial institution, with the consumer's fingerprint being digitally encrypted and stored on the card. Earlier in July 2016, Mastercard in collaboration with Virtual Card Services introduced a virtual POS enabling businesses to accept digital card payments in-store, remotely, or on-the-go through mobile devices. Consumers need to download the Masterpass app, register, and load their debit or credit cards into the wallet to make payments.
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The report provides top-level market analysis, information and insights into the South African cards and payments industry, including -
- Current and forecast values for each market in the South African cards and payments industry, including debit, credit, and charge cards.
- Detailed insights into payment instruments including credit transfers, cheques, direct debit, cash, and payment cards. It also, includes an overview of the country's key alternative payment instruments.
- E-commerce market analysis and payment methods.
- Analysis of various market drivers and regulations governing the South African cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit, credit, and charge cards.
Reasons to buy:
- Make strategic business decisions, using top-level historic and forecast market data, related to the South African cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in the South African cards and payments industry.
- Assess the competitive dynamics in the South African cards and payments industry.
- Gain insights into marketing strategies used for various card types in South Africa.
- Gain insights into key regulations governing the South African cards and payments industry.
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