The cards and payments market is expected to grow significantly over the upcoming years. Owing to new digital developments and increased use of mobile payments, non-cash payments are fast becoming highly popular across the globe. The recent outbreak of the COVID-19 payment has spelled an even higher demand for cards and payments. With more countries issuing no contact payments, people are turning towards alternate methods. Over the last few years advancements in biometrics, including thumbprints, retinas and faces for authentication is paying off for the digital payment sector. The developments have been mainly felt in the countries Italy, Spain and germany.
The report offered by the JSB Market Research explores the cards and payments market in these countries. Spain experienced an exponential rise in the use of mobile payments in 2019. The Spain Cards And Payments market report analyzes the market trends by providing values and volumes for a number of key performance indicators in the industry, including cash, cards, credit transfers, direct debits, and cheques.
The following Germany Cards & Payments report 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. It also offers information on the country's competitive landscape, including market shares of issuers and schemes.
Facing a constant increase in demand for instant payments the Italy Cards & Payments market is supposed to witness a flourishing market for the Cards & Payments industry. The Italy Cards & Payments market report brings together research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. It also covers detailed regulatory policies and recent changes in regulatory structure.
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Scope for the Spanish cards and payments market
* The European Payments Council launched a pan-European instant credit transfer scheme in selected Single Euro Payments Area (SEPA) markets in November 2017.
* The introduction of Bizum in October 2016, a common mobile payment platform jointly launched by 27 Spanish banks, is integrated within the bank's apps and lets users conduct P2P, in-store, and online transactions instantly through their mobile phones.
* The emergence of digital-only banks is likely to accelerate the shift towards electronic payments in Spain.
* There was a significant rise in the uptake and usage of mobile wallets in 2019. This was due to the availability of popular mobile wallet solutions including Apple Pay, Google Pay, and Samsung Pay as well as the increasing number of banks and financial institutions offering these mobile wallet services to their customers.
Scope for the Germany cards and payments market
* The SEPA Instant Credit Transfer payment service has been available in Germany since November 2017. The service enables individuals to transfer a maximum of 15,000 ($17,183.22) within 10 seconds. Funds can be transferred instantly 24 hours a day, seven days a week, 365 days a year.
* In November 2018, TARGET Instant Payment Settlement was launched across the EU, including Germany. The service is based on SEPA Instant Credit Transfer and is an extension of TARGET2. Available at all times, the service also supports multi-currency transfers.
* In addition, to support cross-border instant payments, in September 2019 SWIFT announced a new global instant payments service integrating SWIFT gpi into domestic instant payment systems. Trials have been conducted among banks sending cross-border payments from nine countries, including Germany.
* The proliferation of digital-only banks is likely to accelerate the shift away from cash to card payments. N26 is the most popular digital-only bank in Germany, providing strong competition to traditional banks by offering products and services at comparatively lower rates. Founded in 2013 in Germany, it is now available in 24 countries and has 3.5 million customers across its global operations.
* Telefonica Deutschland partnered with Fidor Bank to launch a mobile-only bank, O2 Banking, in July 2016. Upon opening an account customers receive a Mastercard debit card. And in March 2017, Netherlands-based mobile only bank bunq was launched in Germany, offering users a bank account as well as a Mastercard debit and credit card.
* The German payment industry has seen consolidation in recent years. B+S Card Service and German tech company PAYONE merged to form BS PAYONE in August 2017. In May 2018, French payment technology provider Ingenico Group started exclusive negotiations for the merger of BS PAYONE with Ingenico's retail assets in Germany, Austria, and Switzerland.
Scope for the Italy cards and payments market
* With a consistent increase in demand for instant payments, the European Central Bank launched TARGET Instant Payment Settlement in November 2018. Catering to bank account holders across Europe, it is an extension of the eurozones real-time gross settlement system TARGET2, which already had an extensive network of participants across the region. Settlement can be made from the users bank account in less than 10 seconds. TARGET Instant Payment Settlement is based on SEPA Instant Credit Transfer - a scheme for pan-European instant payments that is used by a large number of payment service providers across Europe.
* Contactless payments are now being extended to public transport networks. In June 2018, payment processing company SIA launched a new digital payment platform in Milan, allowing consumers to buy subway tickets at any contactless-enabled turnstile using Mastercard or Visa contactless cards.
* Meanwhile, in July 2019 Visa and Mastercard launched their respective contactless payment solutions across 355 ATAF buses and on the 15 buses of Busitalia (Gruppo FS Italiane). Consumers can use debit, credit, and prepaid cards or contactless devices to pay ticket fares. This was introduced as part of the Florence Cashless Experience project.
* Italy's leading merchant acquirers are either partnering or acquiring new companies to strengthen their presence in the market. In June 2019, Nexi and China UnionPay signed an agreement to increase the acceptance of UnionPay cards in Italy. By March 2021 the service will be extended to the entire Nexi merchant base, including e-commerce businesses. Banco Sella and China UnionPay signed an agreement in July 2019 to increase the acceptance of UnionPay cards among in-store and online merchants.
* Previously, in April 2018 Nexi acquired fintech company Sparkling 18, which offers mobile and omnichannel payment solutions. Some of the Sparkling 18s customers include Eataly, Auchan, Rosso Pomodoro, and Roadhouse.
* The report aids in Making strategic business decisions, using top-level historic and forecast market data, related to the cards and payments industry and each market within it. It helps to understand the key market trends and growth opportunities in the industry by assessing the competitive dynamics, gaining insights into marketing strategies used for various card types and key regulations governing the cards and payments industry.
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