South Korea Cards and Payments Market Size, Share, Development, Growth and Forecast to 2020

Date: August 5, 2016
Pages: 50
Price:
US$ 2,500.00
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Publisher: P&S Market Research
Report type: Strategic Report
Delivery: E-mail Delivery (PDF), Hard Copy Mail Delivery
ID: SAC9F1B9764EN
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South Korea Cards and Payments Market Size, Share, Development, Growth and Forecast to 2020
Report coverage
  • Historical market size for the period 2012-2014 and forecast for the period 2015-2020.
  • Number of cards in circulation, and value and volume of transactions.
  • Number of terminal, and value and volume of transactions.
  • Industry trends, drivers, and opportunities.
  • Competitive landscape of card issuers for both, debit cards and credit cards.
  • Major schemes, debit and credit cards by customer segments.
Research methodology

The study is based on extensive secondary and primary research. The various sources studied during the secondary research include websites of payment/ banking/ industry associations, industry regulatory bodies, banks, and card issuers. The primary research included in-depth interviews with industry experts and key opinion leaders.

South Korea cards and payments market overview

The card payments market in South Korea grew at a healthy pace during the period 2012-2014 in terms of volume of transactions. Some of the factors fueling the growth are payment infrastructure and the benefits offered to debit card and credit card holders by the card issuers. In terms of number of transactions, the total card market is expected to grow at a CAGR of 5.3% over the period 2015-2020.

South Korea GDP per capita increased from USD 24,453.9 in 2012 to USD 27,970.4 in 2014. GDP per capita is likely to increase further over the forecast period, from USD 27,512.8 in 2015 to USD 36,749.8 in 2020.This increase in GDP per capita income levels is expected to increase the scope of payment cards use over the forecast period.

Charge cards segment represents a small portion of the South Korea pay later card market. The frequency of charge card use grew at a CAGR of 23.2% during 2012-2014. The frequency of transaction is expected to reach up to 193.8 times by 2020. The value of charge card transactions at POS terminals represented 99% of total charge cards transaction value in 2014. In the charge card segment, banks target high net-worth individuals and corporate customers.

In April 2016, KEB Hana Card and Myanmar Payment Union (MPU) signed a MOU to produce a co-branded debit card, which is expected to be launched in next six months. The collaboration is expected to bring convenience for South Korea people working in Myanmar and vice-versa in terms of remitting money to their respective country. KEB Hana Card issues credit cards to end users and corporations in South Korea. It also offers credit financing services, such as cash services and card loans, as well as issues mobile cards. MPU was formed by state owned and private banks in 2011 to provide ATM and POS switching services among member banks. It currently has 23 bank members.

Hong Pilate, EVP at KEB Hana Card, said: “I think that Myanmar will have many foreign visitors in the future. MPU is the only payment network provider in Myanmar. Through this MOU, we can work together to develop in the payment sector and cards system in Myanmar.”

Key players in the South Korea cards and payments market:
  • Shinhan Card
  • Nonghyup Bank
  • KB Kookmin Card
  • Woori Financial Group
  • Hana Financial Group
  • Samsung Card
  • Hyundai Card
  • Industrial Bank of Korea
1. DEFINITIONS

2. RESEARCH METHODOLOGY

2.1 Research Process
2.2 Phases of Research Process
  2.2.1 Cards Market Sizing
  2.2.2 Competitor Analysis
  2.2.3 Market Forecasting
  2.2.4 Quality Control Process

3. EXECUTIVE SUMMARY

4. KEY INDUSTRY DRIVERS

5. PAYMENT CHANNELS

5.1 Market Share of Payment Channel, in Terms of Volume and Value

6. TERMINAL STATISTICS

6.1 Transactions at ATM Terminals
6.2 Transactions at POS Terminals

7. PAYMENT CARD MARKET ANALYSIS

7.1 Payment Cards Market Size and Forecast (2012-2020)
7.2 Payment Cards in Circulation (2012-2020)
  7.2.1 Payment Cards in Circulation, by Card Type (2012-2020)
7.3 Payment Card Transaction Volume and Value (2012-2020)
  7.3.1 Payment Card Transaction Volume, by Card Type (2012-2020)
  7.3.2 Payment Card Transaction Value, by Card Type (2012-2020)

8. DEBIT CARD MARKET ANALYSIS

8.1 Debit Cards Market Size and Forecast (2012-2020)
8.2 Debit Cards in Circulation (2012 - 2020)
8.3 Debit Cards Transaction Volume at ATM and POS (2012 - 2020)
8.4 Debit Cards Transaction Value at ATM and POS (2012 - 2020)
8.5 Debit Cards Market Share, by Scheme (2014)
8.6 Debit Cards Market Share, by Card Issuer (2014)

9. CREDIT CARD MARKET ANALYSIS

9.1 Credit Cards Market Size and Forecast (2012-2020)
9.2 Credit Cards in Circulation (2012 - 2020)
9.3 Credit Cards Transaction Volume at ATM and POS (2012 - 2020)
9.4 Credit Cards Transaction Value at ATM and POS (2012 - 2020)
9.5 Credit Cards Market Share, by Scheme (2014)
9.6 Credit Cards Market Share, by Card Issuer (2014)
9.7 Credit Cards Balance Outstanding, by Card Issuer (2014)

10. CHARGE CARD MARKET ANALYSIS

10.1 Charge Cards Market Size and Forecast (2012 - 2020)
10.2 Charge Cards in Circulation (2012 - 2020)
10.3 Charge Card Transactions at ATM and POS (2012-2020)
10.4 Charge Card Market Share, by Scheme (2014)

11. CARD FRAUD

12. CARD MARKET BY CUSTOMER SEGMENTS

12.1 Targeted Customer Segments

13. COMPETITIVE LANDSCAPE

13.1 Key Industry Players
  13.1.1 Shinhan Bank
  13.1.2 Samsung Card
  13.1.3 KB Kookmin Card
  13.1.4 Nonghyup Bank
  13.1.5 Woori Bank
13.2 Key Developments in the Market

14. APPENDIX

14.1 Payment Card Market Size and Forecast, in USD (2012-2020)
14.2 Debit Card Market Size and Forecast, in USD (2012-2020)
14.3 Credit Card Market Size and Forecast, in USD (2012-2020)
14.4 Charge Card Market Size and Forecast, in USD (2012-2020)
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