|11-09-2018 06:03 AM CET - Business, Economy, Finances, Banking & Insurance||
Payments Landscape in Portugal Booming with Multibanco, WiZink, Visa, Mastercard, American Express
Press release from: HTF Market Intelligence Consulting Pvt. Ltd.
HTF Market Report released a new research document of 45 pages on industry titled as 'Payments Landscape in Portugal: Opportunities and Risks to 2021' with detailed analysis, Competitive landscape, forecast and strategies. The study covers geographic analysis and important players/vendors such as Multibanco, WiZink, Visa, Mastercard, American Express etc. The report will help you gain market insights, future trends and growth prospects for forecast period of 2017-2021.
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"Payments Landscape in Portugal: Opportunities and Risks to 2021", report provides detailed analysis of market trends in Portuguese cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, credit transfers, direct debit, payment cards, and cheques during the review-period (2013-17e).
The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2017-21f). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.
The report brings together research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in the regulatory structure.
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This report provides top-level market analysis, information and insights into the Portuguese cards and payments industry, including -
- Current and forecast values for each market in the Portuguese cards and payments industry, including debit and pay-later cards.
- Detailed insights into payment instruments including cash, credit transfers, direct debit, cheques, and payment cards. 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 Portuguese cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit and pay-later cards.
- To promote electronic payments and reduce dependence on cash, in August 2017 the Portuguese government restricted the amount of cash per transaction to €3,000 ($3,599.60) for residents, while for non-residents the limit is €10,000 ($11,998.60). The government has also mandated personal income tax payments over €1,000 ($1,199.90) to be made via bank transfer, cheque, or direct debit. Failure to do so incurs a fine of between €180-4,500 ($216-5,399) per transaction.
- The government is fostering the growth of digital channels within the banking industry. In July 2017, the central bank issued regulations enabling institutions with headquarters or branches in Portugal to allow customers to open accounts exclusively through digital channels, in a move to remain in line with European peers. Previously, bank accounts could only be opened at bank branches in the physical presence of the applicant. Consequently several banks such as Novo Banco, Millennium bcp, and Santander now allow consumers to open bank accounts through digital channels.
- Rising unemployment has forced consumers to default on payments, resulting in high debt during the review period. Amid increasing debt and decreasing profitability, banks were forced to shut down their operations, which eventually triggered mergers and acquisitions in the banking sector. Banco do Brasil shut down its retail business in Portugal in September 2017, and transferred its existing accounts to Banco CTT. Previously, in November 2016 Barclays sold Portugal’s Barclaycard consumer payments business to WiZink Bank. Likewise, Banco Santander Totta acquired Banco Banif in December 2015.
Buy this report @ www.htfmarketreport.com/buy-now?format=1&report=947557
Reasons to buy
- Make strategic business decisions, using top-level historic and forecast market data, related to the Portuguese cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in the Portuguese cards and payments industry.
- Assess the competitive dynamics in the Portuguese cards and payments industry.
- Gain insights into marketing strategies used for various card types in Portugal.
- Gain insights into key regulations governing the Portuguese cards and payments industry.
Companies Mentioned in the Report
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