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Estonia Cards and Payments Market Report- Analysis, Key Company Profiles, Types, Applications and Forecast to 2027

10-31-2021 09:12 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: ReportsnReport

The Estonia Cards and Payments Market research study also examines the global and regional breakdown of the industry, its features, market shares, policies, and patterns, and the constantly changing global market environment. Estonia Cards and Payments Market research summary also incorporates the overview of the primary industry’s trend and the world market’s estimated value and volume depending upon regional evaluation. Moreover, the business offerings mentioned in Estonia Cards and Payments Market report represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

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Estonia Cards and Payments Market Report provides detailed analysis of market trends in the Estonian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, cards, and credit transfers during the review-period (2016-20e).

Estonia Cards and Payments Market 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 (2020e-24f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

Estonia Cards and Payments Market Report brings together RNR research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.

Estonia Cards and Payments Market Report provides top-level market analysis, information and insights into the Estonian cards and payments industry, including -
- Current and forecast values for each market in the Estonian cards and payments industry, including debit, credit and charge cards.
- Detailed insights into payment instruments including cash, cards, and credit transfers. 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 the Estonian cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit, credit, and charge cards.

Scope of this Report-
- To remain on par with its European peers and promote electronic payments, Estonia has adopted instant payments. In November 2017, SEPA Instant Credit Transfer - a pan-European instant payment scheme - was implemented across SEPA-compliant regions, including Estonia. The scheme enables fund transfers in less than 10 seconds across Europe - 24 hours a day, seven days a week, 365 days a year. A maximum of €15,000 ($16,840.51) per transaction was allowed initially, but this was increased to €100,000 ($112,270.08), effective from July 1, 2020. As of February 2021, there were seven participants in the SCT Inst system.
- Alternative payments are gaining prominence in the country, with a number of international and domestic payment methods being offered. In November 2020, Google launched its payment solution Google Pay in Estonia. The solution allows in-store, online and in-app payments. Users can store card details for future payments by scanning the front of the card, using the app or entering the card information manually. Some of the supporting issuers in Estonia include Swedbank, N26, Inbank, Revolut, Monese and LHV Pank. Apple Pay was previously launched in Estonia in June 2019. It allows users with Apple devices to make online, in-app and in-store purchases.
- The emergence of contactless technology will further boost card payments in Estonia. Major banks such as SEB, Swedbank, Luminor Bank and LHV Pank are now offering contactless cards. According to Eesti Pank (the country’s central bank), as of September 2020 89% of cards issued in the country were contactless. In a bid to drive contactless card use, contactless payments without the need for a PIN was increased in October 2016, from €10 ($11.23) to €25 ($28.07). Amid the Coronavirus (COVID-19) pandemic, the limit was doubled in March 2020 to reach €50 ($56.14). With the rising preference for contactless payments, merchants are also installing contactless terminals in their stores. As of September 2020, 88% of terminals accepted contactless payments.

Reasons to Buy this report-
- Make strategic business decisions, using top-level historic and forecast market data, related to the Estonian cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in the Estonian cards and payments industry.
- Assess the competitive dynamics in the Estonian cards and payments industry.
- Gain insights into marketing strategies used for various card types in Estonia.
- Gain insights into key regulations governing the Estonian cards and payments industry.

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Table of Contents
Payment Instruments
Card based Payments
Ecommerce Payments
Alternative Payments
Job Analysis
Payment Innovations
Payment Infrastructure & Regulation
Appendix

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