Lithuania Cards & Payments Market Explored by Timetric in Its New Report Published at MarketPublishers.com13 Apr 2016 • by Natalie Aster
LONDON – Lithuania’s adoption of the Single Euro Payments Area (SEPA) framework in January 2016 is poised to have a significant bearing on the profitability of the domestic payment cards market through to 2019. With interchange fee revenues decreased, card issuers are set to reduce card offerings and customer benefits, and check out novel ways of generating revenue.
To protect consumers from irresponsible lending, the bank of Lithuania (Lietuvos Bankas) amended the consumer credit laws (responsible lending regulations) in November 2015. In accordance with the novel guidelines, the maximum monthly credit repayment cannot exceed 40% of the borrower’s monthly income, and the maximum credit maturity cannot be more than 30 years. These practices are likely to positively impact the credit card marketplace in the forthcoming years.
Banks are also taking concentrated measures to promote e-payments amid consumers. Thus, Swedbank levied extra fees on cash transactions in July 2013, encouraging consumers to conduct daily transactions electronically. The growing usage of e-payments is projected to promote the use of products like debit cards.
New in-demand research publication “The Cards and Payments Industry in Lithuania: Emerging Trends and Opportunities to 2019” by Timetric provides a comprehensive review of the trends in the Lithuanian cards and payments industry. It uncovers historical, current and future values for each market segment; presents volumes and values for a range of KPIs in the industry during 2010-2014; and gives information on the number of cards in use, as well as historical and forecast data on transaction volumes and values. The research report investigates the forces driving the national cards and payments industry, and explores the regulations governing the industry. It discloses details about the marketing strategies used by various banking institutions to make various card types in the country; and gives an overview of key alternative instruments of payment. An insightful analysis of the e-commerce market is included. Furthermore, the report covers the competitive scenario in the domestic cards and payments industry, comprising market shares of card issuers and schemes.
The Cards and Payments Industry in Lithuania: Emerging Trends and Opportunities to 2019
Published: April, 2016
Price: US$ 3,995.00
More market research reports by this publisher can be found at Timetric page.