The Cards and Payments Industry in Pakistan: Emerging Trends and Opportunities to 2020

Date: August 31, 2016
Pages: 40
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US$ 2,750.00 US$ 2,337.50
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Publisher: GlobalData
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)
ID: C42D1BCC367EN
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SYNOPSIS

Timetric’s 'The Cards and Payments Industry in Pakistan: Emerging Trends and Opportunities to 2020' report provides detailed analysis of market trends in the Pakistani cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including check payments, payment cards, direct debits and cash during the review period (2011–2015).

The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, and transaction values and volumes during the review period and over the forecast period (2016–2020). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.

The report brings together Timetric’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.

SUMMARY

Timetric’s 'The Cards and Payments Industry in Pakistan: Emerging Trends and Opportunities to 2020' report provides top-level market analysis, information and insights into Pakistan's cards and payments industry, including:
  • Current and forecast values for each market in the Pakistani cards and payments industry, including debit and pay later cards.
  • Detailed insights into payment instruments including cash, direct debits, checks 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 the Pakistani cards and payments industry.
  • Detailed analysis of strategies adopted by banks and other institutions to market debit and pay later cards.
  • Comprehensive analysis of consumer attitudes and buying preferences for cards.
  • The competitive landscape in the Pakistani cards and payments industry.
SCOPE
  • This report provides a comprehensive analysis of the Pakistani cards and payments industry.
  • It provides current values for the Pakistan cards and payments industry for 2015, and forecast figures to 2020.
  • It details the different demographic, economic, infrastructural and business drivers affecting the Pakistani cards and payments industry.
  • It outlines the current regulatory framework in the industry.
  • It details marketing strategies used by various banks and other institutions.
REASONS TO BUY
  • Make strategic business decisions, using top-level historic and forecast market data, related to the Pakistani cards and payments industry and each market within it.
  • Understand the key market trends and growth opportunities in the Pakistani cards and payments industry.
  • Assess the competitive dynamics in the Pakistani cards and payments industry.
  • Gain insights into marketing strategies used for various card types in Pakistan.
  • Gain insights into key regulations governing the Pakistani cards and payments industry.
KEY HIGHLIGHTS
  • A low rate of financial inclusion remains the main challenge for the wider adoption of cards in Pakistan. According to the World Bank, the number of adults in Pakistan with no access to formal financial services crossed 100 million in 2015 – accounting for 5% of the world’s unbanked population. The percentage of the population aged 15 or above with a bank account was 8.7% in 2014 – according to the World Bank’s Global Findex survey. To improve financial inclusion, the government launched the National Financial Inclusion Strategy (NFIS) in May 2015, which aims to expand financial access to at least 50% of the adult population by 2020. Pakistan has also received support from the World Bank Group in form of its Country Partnership Strategy (2015–2019), which offers reforms to improve financial inclusion. Improvements in financial inclusion will provide access to financial services such as current and savings accounts, and debit cards.
  • In April 2016, the State Bank of Pakistan (SBP) – the country’s central bank – introduced the domestic payment scheme PayPak to compete in the local market with international schemes. The cards issued under this scheme focus on the domestic market, and thereby can only be used in Pakistan. The aim is to offer low-cost payment cards in order to bring more of the population under the purview of the formal banking system. PayPak has been introduced by 1Link, which is a consortium of major banks that is already providing interoperability services for ATMs, fund transfers and utility bill payments. PayPak also offers the provision of digital financial services such as making payments and deposits, obtaining credit, paying utility bills and purchasing goods and services using digital channels such as online, mobile and self-service kiosks.
  • To promote secured payments, the central bank issued a guideline in June 2016 making it mandatory for card processing infrastructures – including automated teller machines (ATMs) and point of sale (POS) terminals – to be Europay, MasterCard and Visa (EMV) compliant by December 31, 2017. According to this guideline, all card service providers are required to implement EMV standards on payment cards by June 30, 2018, and accept chip and PIN by December 31, 2018.
1 DEFINITIONS AND METHODOLOGY

1.1 Definitions
1.2 Methodology

2 KEY FACTS AND EVENTS

3 EXECUTIVE SUMMARY

4 PAYMENT INSTRUMENTS

4.1 Current Payment Environment

5 E-COMMERCE AND ALTERNATIVE PAYMENTS

5.1 E-Commerce Market Analysis
5.2 Alternative Payment Solutions
  5.2.1 Easypay
  5.2.2 Straight2bank
  5.2.3 MCB Lite
  5.2.4 Centili
  5.2.5 Fortumo
  5.2.6 HBL Express – Mobile Wallet

6 REGULATIONS IN THE CARDS AND PAYMENTS INDUSTRY

6.1 Regulatory Framework
6.2 Anti-Money Laundering (AML)
6.3 Foreign Direct Investment (FDI) Regulations

7 ANALYSIS OF CARDS AND PAYMENTS INDUSTRY DRIVERS

7.1 Demographic and Economic Drivers
7.2 Infrastructure and Business Drivers

8 PAYMENT CARDS

9 DEBIT CARDS

9.1 Debit Card Market Analysis
9.2 Debit Card Scheme and Issuer Shares
9.3 Debit Cards Comparison

10 PAY LATER CARDS

10.1 Pay Later Cards Market Analysis
10.2 Pay Later Cards Scheme and Issuer Shares
10.3 Pay Later Cards Comparison

11 APPENDIX

11.1 Tables
11.2 Contact Timetric
11.3 About Timetric
11.4 Timetric’s Services
11.5 Disclaimer

LIST OF TABLES

Table 1: Key Definitions
Table 2: Annual Average Exchange Rate
Table 3: Pakistan – Key Facts, 2015
Table 4: Regional Benchmarking of Pakistan Payment Cards, 2015
Table 5: Pakistan – Mode of Entry of Foreign Banks
Table 6: Pakistan – Debit Cards Comparison and Key Features, 2016
Table 7: Pakistan – Gold Credit Cards Comparison and Key Features, 2016
Table 8: Pakistan – Premium Credit Cards Comparison and Key Features, 2016
Table 9: Pakistan – Payment Instrument Transaction Values (PKR Trillion), 2011–2015
Table 10: Pakistan – Payment Instrument Transaction Values (US$ Billion), 2011–2015
Table 11: Pakistan – Payment Instrument Transaction Volumes (Million), 2011–2015
Table 12: Pakistan – Number of Payment Cards in Circulation by Type (Million), 2011–2020
Table 13: Pakistan – Volume of Payment Card Transactions by Type (Million), 2011–2020
Table 14: Pakistan – Value of Payment Card Transactions by Type (PKR Billion), 2011–2020
Table 15: Pakistan – Value of Payment Card Transactions by Type (US$ Billion), 2011–2020
Table 16: Pakistan – Number of Debit Cards in Circulation (Million), 2011–2020
Table 17: Pakistan – Debit Card Transaction Volumes and Frequency by Channel, 2011–2020
Table 18: Pakistan – Debit Card Total and Average Transaction Values by Channel, 2011–2020
Table 19: Pakistan – Debit Card Total and Average Transaction Values by Channel, 2011–2020
Table 20: Pakistan – Number of Debit Cards in Circulation By Scheme (Million), 2011–2015
Table 21: Pakistan – Debit Card Transaction Values By Scheme (PKR Billion), 2011–2015
Table 22: Pakistan – Debit Card Transaction Values By Scheme (US$ Billion), 2011–2015
Table 23: Pakistan – Debit Card Transaction Values by Issuer (PKR Billion), 2011–2015
Table 24: Pakistan – Debit Card Transaction Values by Issuer (US$ Billion), 2011–2015
Table 25: Pakistan – Number of Pay Later Cards in Circulation (Million), 2011–2020
Table 26: Pakistan – Pay Later Cards Transaction Volumes and Frequency by Channel, 2011–2020
Table 27: Pakistan – Pay Later Cards Total and Average Transaction Values by Channel, 2011–2020
Table 28: Pakistan – Pay Later Cards Total and Average Transaction Values by Channel, 2011–2020
Table 29: Pakistan – Number of Pay Later Cards in Circulation By Scheme (Thousand), 2011–2015
Table 30: Pakistan – Pay Later Cards Transaction Values By Scheme (PKR Billion), 2011–2015
Table 31: Pakistan – Pay Later Cards Transaction Values By Scheme (US$ Million), 2011–2015
Table 32: Pakistan – Pay Later Cards Transaction Values By Issuer (PKR Billion), 2011–2015
Table 33: Pakistan – Pay Later Cards Transaction Values By Issuer (US$ Million), 2011–2015
Table 34: Pakistan – Personal and Commercial Pay Later Cards Transaction Volumes (Million),
Table 35: Pakistan – Personal and Commercial Pay Later Cards Transaction Values (PKR Billion), 2011–2020
Table 36: Pakistan – Personal and Commercial Pay Later Cards Transaction Values (US$ Billion), 2011–2020
Table 37: Pakistan – Number of Commercial Pay Later Cards in Circulation (Thousand), 2011–2020
Table 38: Pakistan – Commercial Pay Later Cards Transaction Volumes (Million), 2011–2020
Table 39: Pakistan – Commercial Pay Later Cards Transaction Values (PKR Billion), 2011–2020
Table 40: Pakistan – Commercial Pay Later Cards Transaction Values (US$ Million), 2011–2020

LIST OF FIGURES

Figure 1: Pakistan – Payment Instrument Shares by Transaction Value (%), 2011 vs. 2015
Figure 2: Pakistan – Payment Instrument Shares by Transaction Volume (%), 2011 vs. 2015
Figure 3: Pakistan – E-Commerce Value (US$ Million)
Figure 4: Pakistan – Total Population and Economic Indicators
Figure 5: Pakistan – Number of ATMs and POS Terminals, and Real Household Consumption
Figure 6: Pakistan – Growth in Payment Card Transaction Values and Number of Cards in Circulation by Type, 2011–2020
Figure 7: Pakistan – Debit Card Penetration and Turnover Per Card
Figure 8: Pakistan – Debit Card Scheme and Issuer Shares in Terms of Transaction Value (%), 2015
Figure 9: Pakistan – Pay Later Cards Penetration and Turnover Per Card
Figure 10: Pakistan – Pay Later Card Scheme and Issuer Shares in Terms of Transaction Value (%), 2015

COMPANIES MENTIONED

HBL
MCB
UBL
Askari Bank
Allied Bank
Faysal Bank
National Bank of Pakistan
Bank Alfalah
Standard Chartered
MasterCard
Visa
American Express
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