Payments Landscape in Sweden Market 2017: Key Players – Swedbank, SEB, Nordea, ICA Banken, Visa and More

SUMMARY

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

"Payments Landscape in Sweden: Opportunities and Risks to 2021", report provides detailed analysis of market trends in the Swedish cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including credit transfers, cash, 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.
The report provides top-level market analysis, information and insights into
the Swedish cards and payments industry, including –

- Current and forecast values for each market in the Swedish cards and payments industry, including debit, credit, and charge cards.
- Detailed insights into payment instruments including credit transfers, cheques, cash, direct debit, 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 Swedish cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit, credit, and charge cards.

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Companies mentioned

Swedbank
SEB
Nordea
Handelsbanken
ICA Banken
Ikano Bank
Visa
Mastercard
American Express
and Diners Club

Scope

- Alternative payments are gaining traction in Sweden, with wide acceptance of domestic and international payment solutions such as Swish, Samsung Pay, Masterpass, and Alipay. In October 2017 Apple Pay was launched in Sweden, allowing customers to add their debit and credit cards to the wallet and make payments using their smart device. Currently the solution is supported by Nordea, ST1 bank, and Ticket Rikskuponger-Edenred.
Merchants accepting Apple Pay in Sweden include Starbucks, 7 Eleven, Elgiganten, and digital inn. Further, in September 2017 Alipay signed an agreement with Svensk Handel - the Swedish Trade Federation - to allow Chinese tourists to make payments at merchants across Sweden using Alipay. The popular domestic payment solution, Swish, introduced QR code-based payments in May 2017. Using the Swish app, users can also make in-store payments at partnered merchant stores by scanning QR codes.
- To enable faster fund transfers, the European Payments Council launched a pan-European instant credit transfer scheme in selected Single Euro Payments Area (SEPA) markets in November 2017. SEPA Instant Credit Transfer (SCT Inst) will enable individuals to transfer a maximum of €15,000 ($15,783.80) within 10 seconds. Funds can be transferred instantly 24 hours a day, seven days a week, 365 days a year. Sweden is anticipated to introduce SCT Inst in 2018.

- Competition in Sweden’s payment cards market is expected to rise, with non-banking companies starting to offer basic banking and financial services. Alternative payment solution provider Klarna received its full banking license in June 2017 from the Swedish Financial Supervisory Authority. Klarna plans to offer various banking services including accounts and bank cards.

Key points to buy

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

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This release was published on openPR.