ResearchMoz.us include new market research report " Thailands Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape" to its huge collection of research reports.
The Thai card payments channel grew in value and volume terms during the review period (2009–2013). In terms of the number of cards in circulation, the channel grew from 61.2 million in 2009 to 119.5 million in 2013, at a compound annual growth rate (CAGR) of 18.20%, and is anticipated to further post a CAGR of 7.26% over the forecast period to reach 179.7 million in 2018.
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In terms of transaction value, the card payments channel grew THB4.1 trillion (US$119 billion) in 2009 to THB7.5 trillion (US$244.5 billion) in 2013, at a review-period CAGR of 16.48%. It is anticipated to post a forecast-period CAGR of 6.70%, to reach to THB11 trillion (US$353.8 billion) in 2018.
Many factors supported the review-period growth such as an increase in per capita income, payment infrastructure modernization, and an influx of foreign banks that have brought technological innovations and branch expansion opportunities with them. As banking customers become more sophisticated, banks are differentiating their product offerings and subsequently card customization for specific customer groups such as high-income individuals, travelers and online shoppers is gaining prominence. Banks are also using online, mobile and social media to promote products and services, and increase customer engagement.
Growing demand from consumers for prepaid cards has forced banks and issuing companies to introduce numerous variants of prepaid cards to meet specific needs. Krungthai Bank offers the KTB e-Money Card, while Bank of Ayudhya and Bangkok Bank offer the Krungsri Gift Card and Shell Prepaid Card respectively. Cards for other specific purposes such as public transport fares, online shopping and entertainment are slowly gaining importance.
Growth in the number of middle-class families and young population, the greater need for credit, changes in consumer spending habits and the easy approval of credit cards fueled demand. Banks are issuing customized credit cards targeted at diverse customer segments such as the young population, high-income customers and travelers. Co-branded credit cards are slowly gaining popularity in Thailand, and most are offered in association with retailers, oil companies and automobile manufacturers. Siam Commercial Bank (SCB), for example, offers the SCB Toyota Card in association with Toyota.
The value of e-commerce increased from THB61.2 billion (US$1.8 billion) in 2009 to THB156.4 billion (US$5.1 billion) in 2013, at a review-period CAGR of 26.44%. E-commerce is expected to reach THB446.9 billion (US$14.4 billion) in 2018, at a forecast-period CAGR of 22.36%.
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Reasons to buy:-
- Make strategic business decisions using top-level historic and forecast market data related to Thailand's cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities within Thailand's cards and payments industry.
- Assess the competitive dynamics in Thailand's cards and payments industry.
- Gain insights in to the marketing strategies used for selling various card types in Thailand.
- Gain insights into key regulations governing Thailand's cards and payments industry.
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