Summary
With the continuous rise in middle class households and the shift in consumer spending pattern, the Indian payment card market, which includes both credit cards and debit cards, has been growing rapidly in the recent years. This huge demand for payment cards is providing tremendous growth opportunities for card issuers, suppliers and manufacturers, according to our new research report "Indian Payment Card Market Forecast to 2012".
We have found that the number of debit cards issued by banks grew at a CAGR of around 40% between FY 2006 and FY 2009, and we anticipate that the future prospects of the industry will remain buoyant, owing to low payment card penetration coupled with surge in card spending due to rising income levels of the Indian population. Moreover, consumer's preference to the use of cards over cash will boost due to its safety and easy access. Besides, there are many other benefits, like reward points and discounts, offered by merchants as well as bankers, which will lure customers to shop by their payment cards. Moreover, the increasing trend of online shopping has also provided the impetus for the growth of the industry. We have also studied the Indian payment card industry in terms of technology adoption and scope of different technologies in future.
Our research also indicates that the future growth trend, to some extent, will be impacted by the financial turmoil and credit squeeze. Nevertheless, the overall trend will remain positive over the forecast period. The baseline for the optimistic future outlook of our report is that the government has been actively supporting card usage in current years to cut the operating cost and to avoid tax delinquencies. In fact, RBI has proposed to launch a domestic payment card (India Card) and a POS switch network for issuance and acceptance of payment cards.
"Indian Payment Card Market Forecast to 2012" provides an extensive research and rational analysis along with reliable statistics of the payment card market in India. The report has thoroughly examined the current market trends, industrial developments and competitive landscape to enable clients understand the market structure and its progress in coming years. Besides this, the report also provides brief overview of the key market players including ICICI Bank Ltd, HDFC Bank Ltd, Citibank NA, State Bank of India and Punjab National Bank.
Forecast presented in the report has been done considering the possible post-recession impact on the industry. It will help clients to have proper insight into the current and future outlook of credit card market in developing economies.
Table of Contents
1. Analyst View
2. Economic Overview
3. Market Attractions
3.1 Changing Consumer Spending Patterns
3.2 Improving Payment Infrastructure
3.3 Growing Trends of E-shopping
3.4 Favorable Regulatory Environment
3.5 Holistic Competition
4. Indian Financial Card Market: Current and Future Outlook
4.1 Debit Cards
4.2 Credit Cards
4.3 ATM Networks
4.4 POS Terminals
4.5 Leading Card Issuers
5. Future Growth Avenues
5.1 Smart Cards
5.2 Prepaid and Co-brand Cards
5.3 Domestic Service Providers
5.4 Mobile ATMs
5.5 Biometric & Solar ATMs
5.6 Micro ATMs
6. Industry Restraints
6.1 Awareness
6.2 Delinquency Ratio and Frauds
7. Competitive Landscape
7.1 ICICI Bank Ltd
7.2 HDFC Bank Ltd
7.3 Citibank NA
7.4 State Bank of India
7.5 Punjab National Bank
List of Figures:
Figure 3-1: Online Shopping Transaction by Region (%)
Figure 3-2: Forecast for Number of Internet Users (Million), 2010-2013
Figure 3-3: Forecast for Number of Personal Computers (Million), 2010-2013
Figure 4-1: Number of Debit Cards Issued by Banks (Million), FY 2006 to FY 2010
Figure 4-2: Forecast for Number of Debit Cards Issued by Banks (Million), FY 2011 to FY 2013
Figure 4-3: Number of Debit Card Payment Transactions (Million), FY 2006 to FY 2009
Figure 4-4: Debit Card Payment Transactions (Billion INR), FY 2006 to FY 2010
Figure 4-5: Forecast for Debit Card Payment Transactions (Billion INR), FY 2011 to FY 2013
Figure 4-6: Number of Credit Cards Issued by Banks (Million), FY 2006 to FY 2010
Figure 4-7: Forecast for Number of Credit Cards Issued by Banks (Million), FY 2011 to FY2013
Figure 4-8: Credit Cards Issuance by Type of Bank (%), FY 2009
Figure 4-9: Number of Credit Card Payment Transactions (Million), FY 2006 to FY 2009
Figure 4-10: Credit Card Payment Transactions (Billion INR), FY 2006 to FY 2010
Figure 4-11: Forecast for Credit Card Payment Transactions (Billion INR), FY 2011 to FY 2013
Figure 4-12: Premium Credit Card Market Potential (Million), FY 2010 to FY 2013
Figure 4-13: Premium Credit Card Market (Billion INR), FY 2010 to FY 2013
Figure 4-14: Number of ATMs ('000), FY 2007 to FY 2009
Figure 4-15: Number of ATMs by Type of Bank (%), FY 2009
Figure 4-16: Number of POS Terminals (Million), FY 2008 & FY 2009
Figure 4-17: Share of Leading Players in POS Network (FY 2009)
Figure 4-18: Leading Credit Cards Issuers (%), FY 2009
Figure 4-19: Leading Debit Cards Issuers (%), FY 2009
List of Tables:
Table 2-1: Economic Overview (2009-2013)
