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(MoneyNewsWire.Net, May 16, 2018 ) Netherlands cards and payments market Overview
The Netherlands cards and payments market rapid growth and the increasing competition in the cards and payments market of the Netherlands has forced the cards issuers and banks to offer attractive products for the retaining of consumers. The increasing applications of secured payment portals has boosted the confidence of the public in the use of payment cards and has positively impacted the development of the market. The rise of the online retail and travel sector have also augmented the growth of this market in the country.
The Netherlands cards and payments market was dominated by the prepaid cards segment, closely followed by the segment of debit cards. The smallest share of the market was held by the charge cards segment. The number of debit cards in circulation if expected to further increase during the forecast period whereas the charge cards segment is projected to grow at the highest CAGR during the forecast period. The implementation of the EMV standards, and the growth of the e-commerce and m-commerce segments are the major factors contributing to the growth of the market.
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Netherlands cards and payments Market Growth Potential
The usage of social media for deeper penetration into the market, as social media in the current scenario allows the very specific targeting of consumer groups based on user data, is being used substantially by Dutch Banks. The ABN Amro Bank uses its Twitter handle for communication pertaining to important developments which concern the products of the Bank and as well as services. In the current scenario, all the major banks have their social media pages which market themselves by updating information with the latest developments.
In terms of the value of transactions, and the volume of transactions, the prepaid card segment is expected to garner growth potential, whereas all other card categories are expected to grow at a moderate pace. This is because consumers are projected to continue to spend cautiously due to the high inflation and unemployment. Payment cards having high service fees are anticipated to be substituted or eliminated by prepaid cards wherein there is a limit on spending.
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Some of the Key players in Netherlands Cards and Payments Market:
• ING Bank
• ABN Amro
• De Volksbank
• Mastercard and American Express
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Netherlands cards and payments market Geographical Segmentation
The Netherlands cards and payments market is analysed geographically under the region of Europe. Netherlands accounts for one of the largest shares of the Europe Cards and Payments 2017, and is also showing robust growth in the market despite the economic slowdown. The government reforms taking place for the development of the card payments channel are expected to keep the market outlook stable in the coming future.
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Related Reports from Market Data Forecast:
Sweden Cards And Payments Market: https://www.marketdataforecast.com/market-reports/Sweden-Cards-and-Payments-Market-6931/
Italy Cards And Payments Market: https://www.marketdataforecast.com/market-reports/Italy-Cards-and-Payments-Market-6932/
Market Data Forecast.