Payments Landscape in Belgium Market 2017: Key Players: BNP Paribas, Belfius Bank, KBC Bank, Mastercard, Visa, and More

WiseGuyReports published new report, titled “Payments Landscape in Belgium”

Summary

"Payments Landscape in Belgium: Opportunities and Risks to 2021", report provides detailed analysis of market trends in the Belgian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including credit transfers, direct debit, cash, 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.

The report provides top-level market analysis, information and insights into the Belgian cards and payments industry, including –

- Current and forecast values for each market in the Belgian cards and payments industry, including debit and credit cards.
- Detailed insights into payment instruments including credit transfers, cheques, direct debit, cash, and payment cards. It also, includes an overview of the country's key alternative payment instruments.
- E-commerce market analysis and payment methods.
- Analysis of various market drivers and regulations governing the Belgian cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.

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Companies mentioned

BNP Paribas
Belfius Bank
ING Bank
KBC Bank
Credit Mutuel
Bancontact
Visa
Mastercard
American Express

Scope

- To boost contactless payments in the country, Bancontact - the dominant scheme provider in Belgium - enabled contactless payments on its mobile app in October 2017, allowing users to store their Bancontact card details and make contactless payments at NFC-enabled terminals. The app is now supported by 20 banks in Belgium, making the service available to 99% of Bancontact card holders in the country. More than two thirds of payment terminals in Belgium already support NFC technology. All terminals in the country should be able to offer contactless payments by 2018.

- Alternative payments are gaining prominence in Belgium, with rising adoption of local and international payment solutions. Android Pay was launched in Belgium in March 2017, and allows users to make in-store, in-app, and online payments. The solution is now supported by major schemes including Mastercard and Visa, as well as card issuers including BNP Paribas Fortis, Fintro, and Hello bank!. The solution allows users to load their card by taking a picture of it using their mobile phone. Meanwhile, in June 2015 Masterpass was launched by Mastercard in Belgium. It allows users to store multiple card details and billing addresses for faster checkout. Once details are saved, users can skip the process of entering card and shipping details for all future payments.

- The emergence of mobile-only banks is likely to accelerate a shift towards electronic payments in Belgium. BNP Paribas launched mobile-only bank Hello bank! in Belgium in 2013, allowing consumers to conduct banking transactions entirely on their mobile phone. Similarly, French telecom provider Orange plans to introduce its mobile-only bank, Orange Bank, in Belgium in 2019.

Key points

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

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This release was published on openPR.