Research of Cards and Payments Industry in Austria : Share, Trends and Application 2017

Albany, New York, August 24, 2017 : Recent research and the current scenario as well as future market potential of "The Cards and Payments Industry in Austria: Emerging Trends and Opportunities to 2020" globally.

Timetrics 'The Cards and Payments Industry in Austria: Emerging Trends and Opportunities to 2020' report provides detailed analysis of market trends in the Austrian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including direct debits, check payments, payment cards, cash transactions and credit transfers during the review period (20112015).

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The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, and transaction values and volumes during the review period and over the forecast period (20162020). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.

The report brings together Timetrics 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.

Summary
Timetrics 'The Cards and Payments Industry in Austria: Emerging Trends and Opportunities to 2020' report provides top-level market analysis, information and insights into the Austrian cards and payments industry, including:

Current and forecast values for each market in the Austrian cards and payments industry, including debit card, credit and charge cards.

Detailed insights into payment instruments including direct debit, credit transfers, cash transactions, checks and payment cards. It also, includes an overview of the country's key alternative payment instruments.

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E-commerce market analysis.

Analysis of various market drivers and regulations governing the Austrian cards and payments industry.

Detailed analysis of strategies adopted by banks and other institutions to market debit, credit and charge cards.

Comprehensive analysis of consumer attitudes and buying preferences for cards.

The competitive landscape in the Austrian cards and payments industry.

Scope
This report provides a comprehensive analysis of the Austrian cards and payments industry.

It provides current values for the Austrian cards and payments industry for 2015, and forecast figures to 2020.

It details the different demographic, economic, infrastructural and business drivers affecting the Austrian cards and payments industry.

It outlines the current regulatory framework in the industry.

It details marketing strategies used by various banks and other institutions.

Reasons To Buy
Make strategic business decisions, using top-level historic and forecast market data, related to the Austrian cards and payments industry and each market within it.

Understand the key market trends and growth opportunities in the Austrian cards and payments industry.

Assess the competitive dynamics in the Austrian cards and payments industry.

Gain insights into marketing strategies used for various card types in Austria.

Gain insights into key regulations governing the Austrian cards and payments industry.

Key Highlights
The uptake of alternative payments is gradually increasing in Austria, with the availability of various options. The latest is the launch of the SEQR mobile payment app in July 2016, which enables consumers to make online and retail purchases using quick response (QR) codes. In August 2015, PayPal expanded its One Touch instant checkout service to Austria, which can be activated from the PayPal website and can be used to skip the login process at eligible websites to accelerate the payment process. Other alternative payment solutions, such as Sofort, Klarna, Paysafecard and Skrill, are also available in Austria.

Contactless payments are gaining prominence in Austria, with all major banks in the country including Erste Bank, Bawag PSK and Volksbank offering cards with contactless functionality. The number of contactless cards grew threefold in the last two years, to reach 9 million in 2015. In addition, contactless mobile payments (m-payments) are becoming popular. In June 2016, Erste Bank launched a range of NFC payments in the country. Users can make contactless payments using enabled wristbands, stickers or mobile apps launched by the bank. In addition to in-store payments, the payment methods can also be used to withdraw cash at NFC-enabled ATMs.

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The Austrian Supreme Court made one-off loan-processing fees lawful in June 2016, allowing banks to include processing fees, payments and commissions which must be paid by borrowers in addition to the principal loan amount. This fee depends on the total loan amount rather than the actual expenses incurred in processing a loan, which is sometimes inconvenient for consumers. Charging a one-off loan-processing fee is a common practice that has been applied by banks for decades in Austria, and the Supreme Courts ruling will further encourage banks to continue this exercise. This may lead consumers to look for other low-cost borrowing options such as credit cards.

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This release was published on openPR.