The Cambodian cards and
payments industry, including debit and credit
cards, registered positive growth during the review period, recording a
compound annual growth rate (CAGR) of 26.31%, and increasing from 464,047 cards
in circulation in 2009 to 1.2 million by the end of 2013. In terms of transaction
value, payment cards valued KHR3.7 trillion (US$915.2 million) in 2013, after
registering a review-period CAGR of 30.89%. Favorable economic conditions,
improved banking infrastructure, new products offered by banks, and growth in
card payments at point of sale (POS) terminals all led to growth in card
payments.
The average transaction value
(ATV) in Cambodia was US$65.6, ranking 15th in Asia-Pacific in 2013. China
recorded the highest ATV, with US$302.4, while New Zealand ranked lowest in
Asia-Pacific with an ATV of US$46.3. Cambodia had the lowest card penetration
in Asia-Pacific, with 0.1, and ranked 12th in Asia-Pacific in terms of
frequency of use of payment cards, with 11.8 transactions per card. New Zealand
recorded the highest frequency, with 146.1 transactions per card, followed by
Australia with 96.6, South Korea with 44.7, and Singapore with 36.0.
In terms of transaction value,
debit cards were the favored payment card in Cambodia in 2013, accounting for
96.9% of card payments, while credit cards accounted for 3.1%. A similar trend
is expected over the forecast period. Debit cards are offered to everyone who
opens a personal bank account, and banks are promoting these accounts to
attract customers. ANZ Royal Bank, for instance, is promoting the Convenience
Plus account, offering customers a Royal Debit Card with free international
access and money transfer facility. These cards are issued free of charge and
can be used to pay utility bills, although they are mostly used at ATMs to
withdraw cash, rather than at POS terminals; ATMs accounted for 97.6% of debit
card transactions in 2013, while POS terminals accounted for just 2.4%, in
terms of transaction volume.
Banks are also taking initiatives
to develop credit cards, and are conducting consumer awareness campaigns in
association with Visa. Banks are aiming to ensure that consumers are ready to
use credit cards by educating them on how to manage personal finances, and
benefit from credit cards without getting into debt. In November 2013, Acleda
Bank has launched its first Acleda Visa credit card, while Cambodian Bank has
launched both Visa and Master Platinum cards. Other banks such as ANZ Royal
Bank and CUBC offer added benefits, such as discounts on airport lounges and
hotels.
As card transactions increase, so
does card fraud, and banks are issuing cards with EMV technology to increase
transaction security. CUBC Bank, for instance, implemented EMV security
standards by installing ATMs that accept EMV-based transactions for all
Visa-branded cards. In March 2014, Data Card Group collaborated with Visco
(Cambodia) and Omega Computer Corporation to conduct EMV seminars in Cambodia.
The seminar aimed educating banks and customers about the importance of EMV
cards, risk management, benefits, and considerations during migration and
verification security when authenticating debit and credit transactions at POS
terminals and ATMs.
The report provides top-level
market analysis, information and insights into Cambodia's cards and payments
industry, including:
- Current and forecast values for each category of Cambodia's cards and payments industry, including debit cards, credit cards and prepaid cards
- Comprehensive analysis of the industry’s market attractiveness and future growth areas
- Analysis of various market drivers and regulations governing Cambodia's cards and payments industry
- Detailed analysis of marketing strategies adopted to sell debit, credit and prepaid cards used by banks and other institutions in the market
- Comprehensive analysis of consumer attitudes and buying preferences for cards
- The competitive landscape of Cambodia's cards and payments industry
Scope
- This report provides a comprehensive analysis of Cambodia's cards and payments industry.
- It provides current values for Cambodia's cards and payments industry for 2013, and forecast figures for 2018.
- It details the different economic, infrastructural and business drivers affecting Cambodia's cards and payments industry.
- It outlines the current regulatory framework in the industry.
- It details the marketing strategies used by various banks and other institutions.
- It profiles the major banks in Cambodia's cards and payments industry.
Reasons to Buy
- Make strategic business decisions using top-level historic and forecast market data related to Cambodia's cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in Cambodia's cards and payments industry.
- Assess the competitive dynamics in Cambodia's cards and payments industry.
- Gain insights in to the marketing strategies used to sell various card types in Cambodia.
- Gain insights into key regulations governing Cambodia's cards and payments industry.
Spanning over 73 pages, 53 Tables and 30
Figures “Cambodia's Cards and Payments
Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products
and Competitive Landscape” report Covering Key Facts and Top Events,
Executive Summary, Payment Instruments, Market Attractiveness and Future
Prospects of Cards and Payments, Analysis of Cards and Payments Industry
Drivers, Emerging Consumer Attitudes and Trends, Payment Cards, Debit Cards,
Credit Cards, Commercial Cards, Regulations in the Cards and Payments Industry,
Card Fraud Statistics, Card Issuers, Card Schemes, Prepaid Cards, Appendix.
This report Covered 8 Companies - Acleda Bank Plc, ANZ Royal Bank Cambodia,
Canadia Bank Plc, Cambodian Public Bank, Cathay United Bank, Union Commercial
Bank, MasterCard, Visa.
Know more
about this report at – http://mrr.cm/Zvu
Find all Banking
and Finance Reports at: http://www.marketresearchreports.com/banking-finance
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