ResearchMoz.us include new market research report " Luxembourgs Cards and Payments Industry: Global Market Size, Shares, Growth, Analysis, Trends And Forecast" to its huge collection of research reports.
Like other EU countries, Luxembourg’s economy was damaged by the 2009 global economic crisis. Following strong economic growth from 2004 onwards, Luxembourg's economic growth contracted by 5.6% in 2009, but recovered gradually from 2010 onwards. Economic turmoil in the global financial markets and lower demand during the peak of the recession prompted the government to inject capital into the financial services sector and implement stimulus measures to boost the economy.
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In 2013, credit transfer was the preferred payment instrument, having a substantial industry share of 98.1%, in terms of transaction value, while payment cards accounted for just a 0.5% share. The use of cash is continuously decreasing due to a growing preference for electronic payment methods, resulting in cash’s share being halved during the review period, down from 1.5% in 2009 to 0.7% in 2013.
In terms of the number of cards in circulation, Luxembourg’s payment cards (including debit and credit cards) registered a positive growth during the review period, recording a significant compound annual growth rate (CAGR) of 23.14%, increasing from 992,348 cards in 2009 to 2.3 million in 2013. In terms of transaction value, payment cards valued EUR10.2 billion (US$13.5 billion) in 2013, after registering a review-period CAGR of 10.60%.
Improved banking infrastructure, new product developments, a higher awareness of electronic payments and wider acceptance of payment cards at point-of-sale (POS) terminals were the key factors driving growth. The adoption of Europay, MasterCard and Visa (EMV) standards also supported the industry’s growth.
Scope:-
- This report provides a comprehensive analysis of Luxembourg’s cards and payments industry.
- It provides current values for Luxembourg’s cards and payments industry for 2013, and forecast figures for 2018.
- It details the different economic, infrastructural and business drivers affecting Luxembourg’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.
- It profiles major banks in Luxembourg’s cards and payments industry.
Reasons to buy:-
- Make strategic business decisions using top-level historic and forecast market data related to Luxembourg’s cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities within Luxembourg’s cards and payments industry.
- Assess the competitive dynamics in Luxembourg’s cards and payments industry.
- Gain insights into marketing strategies used for selling various card types in Luxembourg.
- Gain insights into key regulations governing Luxembourg’s cards and payments industry.
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