Poland Cards And Payments Market Analysis 2017 to 2021, Major Key Players Review | PKO Bank Polski, mBank, Bank Pekao, Santander, ING Bank, Credit Agricole

The Polish card payments channel grew positively during the review period (2013 – 2018) at a compound annual growth rate (CAGR) of 4%, and is expected to continue to do so over the forecast period (2018 –2023) at a CAGR of 5%. The review period saw declines in the credit and charge card categories that are expected to continue at lesser rates over the forecast period. Prepaid cards in circulation display huge potential for forecast-period growth, and are forecast to record a CAGR of 17%. The value of transactions made through credit and charge cards is very low compared to transactions through debit cards, reflecting the general aversion of Polish consumers to credit-fueled spending.

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Digital banking and virtual cards are new products that are expected to boost online card use. Digital banking integrates social networking sites and online retail stores to facilitate online payments. With the emergence of digital banking, significant growth is expected in online card-based payments. The emergence of contactless payments has encouraged card use among consumers. Contactless payments enable quicker transactions and better security than chip-based cards. Contactless card terminals are increasingly being installed in retail outlets, transport networks and government offices.

The Single Euro Payments Area (SEPA) cards standardization framework is expected to create a harmonized standard throughout the EU, which will facilitate card interoperability across the region. The framework is expected to remove technical barriers in the country and ensure high standards of card security. This is expected to encourage card-based payments in the country, and the use of cards issued by Polish banks throughout the EU.

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The prepaid cards in circulation display the highest growth potential, and are expected to record a forecast-period CAGR of 17%. Prepaid cards have great growth potential in the government and social security sectors, where cards are issued to make social security payments. Open-loop prepaid cards are also expected to grow as the government launches plans to issue public service cards and city cards to make payments at public utility outlets, offices and transport networks. Prepaid closed-loop cards are also widely issued by retailers. The value of these cards is expected to grow at a forecast-period CAGR of 18%.

Some of the Dominating players in the Market:
• PKO Bank Polski
• mBank
• Bank Pekao
• Santander
• ING Bank
• Credit Agricole

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Key Questions Answered by the report
• What is the market size of the Poland Cards and Payments Market?
• What are the major operators and issuers in Poland?
• What is the current state of emerging payment technologies?

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