Payments Landscape in Serbia: Opportunities and Risks to 2023

2019-07-16
Price :
Published : Jul-2019
No. of Pages : 55

Payments Landscape in Serbia: Opportunities and Risks to 2023

Summary

GlobalData’s “Payments Landscape in Serbia: Opportunities and Risks to 2023”, report provides detailed analysis of market trends in the Serbian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cards, credit transfers, direct debits, and cheques during the review-period (2015-19e).

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 (2019e-23f). It also offers information on the country’s competitive landscape, including the market shares of issuers and schemes.

The report brings together GlobalData’s 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 Serbian cards and payments industry, including –
– Current and forecast values for each market in the Serbian cards and payments industry, including debit, credit, and charge cards.
– Detailed insights into payment instruments including cards, credit transfers, cheques, and direct debits. 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 the Serbian cards and payments industry.
– Detailed analysis of strategies adopted by banks and other institutions to market debit, credit, and charge cards.

Scope

– Financial inclusion remains one of the key focus areas of the Serbian government, which has taken several steps with this in mind. In March 2019 the Right to a Payment Account With Basic Features was implemented. This regulation aims to accelerate the provision of basic financial services to the underbanked population. The law stipulates that banks must offer low-cost bank accounts with basic features including cash deposits and withdrawals, a debit card, payments, and fund transfers. The government also introduced a new law on account switching, in order to make the process of switching current accounts faster and easier.
– To facilitate instant real-time fund transfers, the National Bank of Serbia (NBS) (the county’s central bank) launched Instant Payments Serbia (IPS) in October 2018. Operational 24 hours a day, seven days a week, 365 days a year, IPS allows both individuals and corporates to make fund transfers in seconds, with a maximum transfer limit of RSD300,000 ($2,905.09) per transaction. As of April 2019, IPS needs to be offered to bank customers via all accessible channels.
– During the same month, the central bank obliged banks to enable instant payments at merchant stores via QR code-based solutions. This allows merchants to receive their funds instantly, whereas card payments can take a few days to clear. And for added convenience, the new system also enables users to make fund transfers via the recipient’s mobile phone number. According to the NBS, the IPS system processed 451,483 transactions in April 2019, compared to 354,969 in January 2019. On average 15,049 payments were processed per day in April 2019, with a daily average turnover of RSD225.8m ($2.2m), at an average execution time of 1.18 seconds per transaction.
– To further encourage card acceptance among Serbian merchants, the central bank passed a new regulation reducing the interchange fee to the EU standard in December 2018. The new law caps the interchange fee at 0.2% for debit cards and 0.3% for credit cards, compared to the previous average of 1%.

Reasons to buy

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

Filed in: Banking & Finance
Publisher : GlobalData
More Reports
Title Price Buy Now

Payment Processing Solutions Market by Payment Method (Debit Card, Credit Card, eWallets, ACH), Deployment Type (On-premises, Cloud-based), Vertical (BFSI, Government and Utilities, Telecom and IT, Healthcare) and Region – Global Forecast to 2027

MarketsandMarkets forecasts the payment processing solutions market size to grow from USD 90.9 billion in 2022 to USD 147.4 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 10.1% during the forecast period. “By Payment method, the credit card record a larger market share during the forecast period” Credit card is a payment card issued to users , enabling the cardholder to pay a merchant for goods and services and other charges. A credit card enables consumers to build a continuing balance of debt, subject to interest being charged. A credit card typically involves a third-party entity that pays the seller and is reimbursed by the buyer. The banks and other financial institutes offer various credit cards, such as business, secured, prepaid, and digital cards. “By D......
$4950

Goldman Sachs Wealth Management – Competitor Profile

Goldman Sachs Wealth Management - Competitor Profile Summary This competitor profile provides a comprehensive analysis of Goldman Sachs' private banking and wealth management operations. It offers insight into the company's strategy and financial performance, including key data on assets under management. Customer targeting, service proposition, product innovation, and marketing activities are also covered. Goldman Sachs is one of the leading financial services companies globally, with a presence in 29 locations. It operates through four business divisions: Investment Banking, Global Markets, Asset Management, and Consumer and Wealth Management. Scope - In January 2020, Goldman Sachs introduced a new Consumer and Wealth Management division. Wealth Management was previously under Inves......
$1295

Israel PESTLE Insights – A Macroeconomic Outlook Report

Israel PESTLE Insights - A Macroeconomic Outlook Report Summary Financial intermediation, real estate and business activities contributed 32.9% to the gross value added (GVA) in 2020, followed by mining, manufacturing and utilities (14.2%) and transport, storage and communication (13.4%). According to GlobalData, the three sectors are forecast to grow by 5.9%, 2.2% and 5.4%, respectively, in 2021. Tel Aviv and Jerusalem accounted for 56.5% of the country's GDP and 59.7% of Israel's population in 2020 The overall TA 25 (Israeli Stock Exchange) index exhibited an upward trend over the past year. As of November 12, 2021, the TA index stood at 1,889.38, compared to 1,418.39 on November 12, 2020. Scope - The Infrastructure For Growth' program aims to invest ILS230 billion ($70 billion) in......
$500

AXA – Enterprise Tech Ecosystem Series

AXA - Enterprise Tech Ecosystem Series Summary AXA SA is a global insurance company offering both life and non-life insurance products. It offers life insurance and savings products such as individual life insurance, group life insurance, health and personal protection products, and individual and group savings retirement products. It also offers property and casualty insurance products such as motor, household, property, and general liability insurance, apart from retail banking products and services. AXA operates in six geographical segments namely France, Asia, Europe, AXA XL (the U.S.-based subsidiary of AXA offering insurance products to commercial establishments), transversal and central holdings and international, which comprises Africa, Latin America, and Middle East. The company......
$1495

Tenpay – Competitor Profile

Tenpay - Competitor Profile Summary Tenpay is the second-largest online payment platform in China, behind only Alipay. It was launched in 2005 by Tencent, China's leading internet company. Tenpay supports online, in-app, and in-store payments both in China and abroad. Tenpay users can make fund transfers to other users' Tenpay accounts or their bank accounts. Users can also make mortgage and credit card payments and can invest in various financial products. Tencent also owns popular social media platforms including QQ Messenger and WeChat; it has integrated payment services into these apps called QQ Wallet and WeChat Pay, allowing users to conduct payment transactions directly. Tenpay is concentrated mostly in China, although it has expanded its services to select international markets......
$350

Alipay – Competitor Profile

Alipay - Competitor Profile Summary Launched in 2004, Alipay is the largest alternative payment service provider globally in terms of transaction value. It is a subsidiary of Ant Financial Services, which is controlled by Alibaba Group. Alipay allows users to make fund transfers as well as online, in-app, and in-store payments at home and abroad. It is the primary method of payment for Alibaba's online marketplaces, including AliExpress, Tmall, and Taobao. In FY2021 ended March 31, almost 70% of gross merchandise value in Alibaba's Chinese marketplaces was settled via Alipay. The solution has become mainstream in China and is used to make payments for everything from retail purchases to taxi fares and hospital costs. Alipay is accepted in more than 110 countries, allowing Chinese touri......
$350

Google Pay – Competitor Profile

Google Pay - Competitor Profile Summary Google Pay was launched in February 2018. The service was formed following the merger of Google's existing Google Wallet and Android Pay payment brands. The solution is accepted at millions of retail outlets globally and supports all of the major payment networks, including American Express, Mastercard, Visa, Discover (US only), Visa Electron (excluding the US), PayPal, and JCB (Japan and US only). It is supported by a host of major banks and credit unions in the US. Users can store details of multiple debit, credit, and prepaid cards on Google Pay, which can be used to make payments at merchant outlets. In addition to in-store payments, Google Pay allows consumers to make online payments, enabling users to shop on participating websites. In India......
$350

Hong Kong Retail Banking Market to 2025 – Analyzing Mortgage, Deposit, Lending Market Trends, and Digital & Alternative Channel Preferences

Hong Kong Retail Banking Market to 2025 - Analyzing Mortgage, Deposit, Lending Market Trends, and Digital & Alternative Channel Preferences Summary The retail banking sector in Hong Kong has shown growth despite the recent impact of COVID-19. Residential mortgages and retail deposits recorded the highest compound annual growth rates (CAGRs) in the region, with the exception of China. Consumer credit lending showed a strong CAGR in personal loans, again only trailing the Chinese market. However, growth across credit cards was weaker as economic activity decreased due to the pandemic. The Hong Kong market has witnessed a triple threat over the last few years. Its economy entered a recession in 2017 as geopolitical forces such as the US-China trade war had effects on the territory. Domestic......
$5250

Guyana Insurance Industry – Key Trends and Opportunities to 2025

Guyana Insurance Industry - Key Trends and Opportunities to 2025 Summary GlobalData's 'Guyana Insurance Industry - Key Trends and Opportunities to 2025' report provides in-depth market analysis, information and insights into the Guyanese insurance industry. This report provides a detailed outlook by product category for the Guyanese insurance industry. It provides values for key performance indicators such as gross written premium, penetration, density and cession rates, during the review period (2016-2020) and forecast period (2020-2025). The report gives a comprehensive overview of Guyanese economy and demographic, covid-19 impact on the industry and provides detailed information on the competitive landscape in the country. The report brings together GlobalData's research, modeling......
$1450

Croatia PESTLE Insights – A Macroeconomic Outlook Report

Croatia PESTLE Insights - A Macroeconomic Outlook Report Summary Financial intermediation, real estate and business activities contributed 23.7% to the gross value added (GVA) in 2020, followed by wholesale, retail and hotels (16.8%) and transport, storage and communication (8.8%). The three sectors are forecast to grow by 6.4%, 7.3% and 3.1% respectively in 2021. Jadranska Hrvatska and Kontinentalna Hrvatska are the major regions in Croatia. Kontinentalna Hrvatska accounted for 70.06% of total GDP in 2019 and 66.3% of the total population in 2020. The CROBEX exhibited an upward trend from October 4, 2020, to October 4, 2021. Overall, the index increased by 25.8% from 1,608.8 on October 4, 2020, to 2,024.03 on October 4, 2021. Scope - Croatia has formulated the National Transport Dev......
$500
We use cookies to deliver the best possible experience on our website.
By continuing to use this site, or closing this box, you consent to our use of cookies. To learn more, visit our Privacy Policy