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(MoneyNewsWire.Net, November 22, 2016 ) It provides values and volumes for a number of key performance indicators in the industry, including credit transfers, check payments, payment cards, cash transactions and direct debits during the review period (2010-2014).
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The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, as well as transaction values and volumes during the review period and over the forecast period (2015-2019). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.
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The report brings together Publisher's 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.
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Report Summary
Publisher's 'Cards and Payments Industry in Lithuania: Emerging Trends and Opportunities to 2019' report provides top-level market analysis, information and insights into the Lithuanian cards and payments industry, including:
- Current and forecast values for each market in the industry, including debit and credit cards.
- Detailed insights into payment instruments, including credit transfers, cash transactions, payment cards, direct debits and checks. It also includes an overview of the country's key alternative payment instruments.
- E-commerce market analysis.
- Analysis of various market drivers and regulations governing Lithuania's cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.
- Comprehensive analysis of consumer attitudes and buying preferences for cards.
- The competitive landscape of the Lithuanian cards and payments industry.
Report Scope
- This report provides a comprehensive analysis of Lithuania's cards and payments industry.
- It provides current values for the industry for 2014, and forecast figures to 2019.
- It details the different demographic, economic, infrastructural and business drivers affecting Lithuania's cards and payments industry.
- It outlines the current regulatory framework in the industry.
- It details marketing strategies used by various banks and other institutions.
Key Highlights
- Lithuania became an EU member on January 1, 2015. Its accession means Lithuania is required to adopt the Single Euro Payments Area (SEPA) framework, and other regulations that apply to all member states, such as the capping of interchange fees for credit and debit cards at 0.3% and 0.2% respectively. SEPA requirements came into effect in Lithuania from January 2016, which is anticipated to have a major impact on profitability in Lithuania's payment cards market over the forecast period (2015-2019). With interchange fee revenues reduced, issuers are likely to cut card offerings and consumer benefits, and look at new ways to generate revenue.
- To protect consumers from financial burden, Lietuvos Bankas, the central bank of Lithuania, amended the responsible lending regulations (RLR) in November 2015. According to the new guidelines, the maximum monthly credit repayment amount cannot be more than 40% of the borrower's monthly income, and the maximum maturity of credit cannot exceed 30 years. The regulation was introduced following a survey conducted by the central bank of Lithuania in January 2016, according to which 75% of families with an income below US$388.8 (EUR350) were indebted to credit issuers, and 71.8% of indebted families were unable to save in the last half-quarter of 2015. The RLR regulation requires card issuers to assess borrowers' credit repayment capabilities before issuing credit cards. These responsible lending practices are expected to positively affect the credit card market over the forecast period.
- Banks are also making concentrated efforts to promote electronic payments among consumers. For instance, Swedbank levied higher fees on cash transactions in July 2013, and encouraged customers to carry out daily transactions electronically. As of March 2016, Swedbank's consumers were charged 0.03% of the total amount - a minimum of US$0.97 (EUR0.87) - to deposit cash in their own bank accounts. In contrast, the bank did not charge any fee on transactions such as online inter-bank fund transfers and utility bill payments. The rising use of electronic payments is expected to drive use of products such as debit cards.
Reason to Buy
- Make strategic business decisions, using top-level historic and forecast market data related to Lithuania cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in the industry.
- Assess the competitive dynamics in the industry.
- Gain insights into marketing strategies used for various card types in Lithuania.
- Gain insights into key regulations governing Lithuania's cards and payments industry.
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