Alternative Payment Options Gain Popularity in Austria, According to Cutting-Edge Report by Timetric Recently Added at MarketPublishers.com16 Sep 2016 • by Natalie Aster
LONDON – Interest towards alternative payment options is gradually gaining momentum in Austria along with the introduction of new payment options. The latest was the launch of SEQR mobile payment application in July; this application enables consumers to make retail and online purchases with the use of quick response (QR) codes.
Presently, contactless payment options are gaining prominence in the country, with all top Austrian banks (including Bawag PSK, Volksbank and Erste Bank) offering cards enabled with contactless functionality. During the previous two years, the number of contactless cards in circulation in Austria grew threefold and amounted to 9 million in 2015. Furthermore, mobile payments are also gaining popularity in the country. In June this year, Erste Bank introduced a number of NFC payments in Austria: now users are able to make contactless payments with the help of enabled stickers, mobile apps or wristbands launched by bank. Beside in-store payments, these payment methods can also be used to withdraw cash at NFC-enabled ATMs.
New Timetric’s research publication “The Cards and Payments Industry in Austria: Emerging Trends and Opportunities to 2020” gives a granular analysis of top trends in the Austrian cards and payments market, uncovers important statistics, provides key performance indicators, covers the historical background and the current scenario.
The report reviews various market segments, presents access to updates info on number of cards in circulation in Austria and also on transaction volumes and values (historical, current and forecast). It touches upon the competitive pressures, regulative policies and reviews top players’ performance.
Furthermore, an all-round future outlook through 2020 is at hand in this report.
Other New Analysis of Country-Wide Markets for Cards and Payments by Timetric Include:
- The Cards and Payments Industry in Kuwait
- The Cards and Payments Industry in Switzerland
- The Cards and Payments Industry in Oman
Many other reports by this publisher are given at the Timetric page.