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(MoneyNewsWire.Net, April 02, 2018 ) 'The Cards and Payments Industry in Sweden: Emerging Trends and Opportunities to 2021' report provides detailed analysis of market trends in the Swedish cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including credit transfers, direct debits, check payments, cash transactions and payment cards during the review period (2012–2016).
The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, and transaction values and volumes during the review period and over the forecast period (2017–2021). 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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Companies Mentioned:
Swedbank
Svenska Handelsbanken
Nordea Bank
Länsförsäkringar Bank
Skandinaviska Enskilda Banken (SEB)
Scope
-This report provides a comprehensive analysis of the Swedish cards and payments industry.
-It provides current values for the Swedish cards and payments industry for 2016, and forecast figures to 2021.
-It details the different demographic, economic, infrastructural and business drivers affecting the Swedish cards and payments industry.
-It outlines the current regulatory framework in the industry.
-It details marketing strategies used by various banks and other institutions.
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Key Highlights
-To capitalize on the growing e-commerce market, in January 2016, Swedish banks expanded Swish, a widely used mobile app for online transactions. The app was previously used only for peer-to-peer (P2P) and in-store payments. Swish is owned by a consortium of six Swedish banks – Danske Bank, Handelsbanken, Länsförsäkringar Bank, Nordea, SEB and Swedbank. Swish has grown in popularity since its launch, with 4.9 million users in Sweden as of November 2016. In May 2016, US$892.3 million (SEK7.5 billion) worth of transactions were performed using Swish, rising to US$994.3 million (SEK8.4 billion) in November 2016.
-To provide convenient and secure online payments for Swedish consumers, MasterCard launched the MasterPass digital wallet in December 2015, in association with Nordea, SEB and Swedbank, followed by ICA Banken and Resurs Bank in early 2016. In October 2016, MasterCard introduced Identity Check Mobile – a biometric mobile application for secured online shopping – in Sweden and 11 other markets in Europe. The app authenticates online payments by confirming the user's identity through the fingerprint scanner on a smartphone, or by taking a 'selfie' and using facial-recognition technology.
-Contactless technology is still at a nascent stage of development in Sweden, with only a handful of banks – such as ICA Banken and Danske Bank – offering contactless cards. The number of contactless cards increased threefold from 439,707 in 2015 to 1.5 million in 2016, and is anticipated to reach 15.0 million by 2021. With a rising number of small businesses and street vendors accepting payment cards for small-value transactions, the introduction of contactless technology is expected to drive payment card transaction volumes over the forecast period.
Reasons to buy
-Make strategic business decisions using top-level historic and forecast market data related to the Swedish cards and payments industry and each market within it.
-Understand the key market trends and growth opportunities in the Swedish cards and payments industry.
-Assess the competitive dynamics in the Swedish cards and payments industry.
-Gain insights into marketing strategies used for various card types in Sweden.
-Gain insights into key regulations governing the Swedish cards and payments industry.
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Key Market Insights
sambit kumar
8007533694
sambit.kumar@kminsights.com
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