Payments Landscape in Austria: Trends, Opportunities and Risks to 2021

Market Research HUB has added a new report titled "Payments Landscape in Austria: Opportunities and Risks to 2021" to it's vast database of reports which provides detailed analysis of market trends in Austrian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, credit transfers, direct debit, payment cards, and cheques during the review-period (2013-17e).

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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, 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.

This 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, credit and charge cards.
- Detailed insights into payment instruments including cash, credit transfers, direct debit, cheques, and payment cards. 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 Austrian cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit, credit and charge cards.

Scope

- The uptake of alternative payments is gradually increasing in Austria. While several companies are entering this space to capitalize on growing demand, existing players are updating their offerings to stay ahead of the competition. Klarna collaborated with ACI Worldwide in January 2018 to facilitate convenient e-commerce payments. In December 2017, Klarna partnered with Worldpay to enable the latters clients to accept payments via invoice or installments through Klarnas invoice and credit service. Meanwhile PayPal collaborated with Apple in July 2017 to enable iOS users to make payments via PayPal on the App Store, iTunes Store, iBookstore, and Apple Music.
 
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- The Austrian Supreme Court made one-off loan-processing fees lawful in June 2016, allowing banks to include processing fees and commissions that must be paid by borrowers in addition to the principal loan amount. The fee depends on the total loan amount rather than the actual expenses incurred in processing a loan. Charging a one-off loan processing fee is a common practice that has been applied for decades by banks in Austria, and the courts ruling will encourage banks to continue this exercise. This may lead consumers to look for other low-cost borrowing options such as credit cards.

- Contactless payments are becoming mainstream in Austria, with all of the countrys major banks offering contactless cards and major schemes including Visa and Mastercard having introduced contactless technology. The number of contactless cards in the country rose from 3 million in 2013 to 11 million in 2017. The introduction of the NFC SIM-enabled Bankomatkarte Mobil app in March 2016 further boosted the adoption of contactless payments in Austria. The app was launched by Payment Services Austria, and enables Maestro card holders to make contactless payments through PayPass technology at 35,000 contactless terminals across Austria.

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.
 
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This release was published on openPR.