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Slovakia Cards and Payments: Opportunities and Risks to 2023
Friday, April 24, 2020
NEW YORK, April 16, 2020 /PRNewswire/ --
Slovakia Cards and Payments: Opportunities and Risks to 2023
Summary
Read the full report: https://www.reportlinker.com/p05878055/?utm_source=PRN
'Slovakia Cards and Payments: Opportunities and Risks to 2023' report provides detailed analysis of market trends in the Slovakian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, 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 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.
'Slovakia Cards and Payments: Opportunities and Risks to 2023' report provides top-level market analysis, information and insights into the Slovakian cards and payments industry, including -
- Current and forecast values for each market in the Slovakian cards and payments industry, including debit, credit, and charge cards.
- Detailed insights into payment instruments including credit transfers, direct debits, cheques, cash, and 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 Slovakian cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit, credit, and charge cards.
Scope
- The proliferation of digital-only banks is driving competition in the banking space, which helps to boost debit card holding. 365.bank, a Slovakia-based digital-only bank, was launched in the country in November 2018, after the completion of a pilot phase for six months. The bank offers a free account which comes with a Mastercard contactless debit card. Furthermore, it was the first bank in Slovakia to launch the payments service through wearable devices such as Fitbit Pay and Garmin Pay, in June 2019. - In September 2019, Strong Customer Authentication (SCA) was enforced by the European Commission to increase payment security. The rule mandates all payment service providers (PSPs) to adopt a procedure to verify customer identity while making online card payments. PSPs can use any method including SMS, passwords, PIN numbers, biometric data/fingerprints, tokens, or control questions to authenticate payments. Furthermore, another regulation was passed in September 2019 that requires customers to enter the PIN for contactless payments by credit card, if they pay an amount less than or equal to EUR20 ($22.91) for five times in a row or if the total value of multiple transactions worth EUR20 ($22.91) exceeds EUR150 ($171.83). - The Slovak government and central bank are taking several initiatives to bring more of the population under the purview of a formal banking system. One such initiative is the introduction of law on basic bank accounts, which came into effect in January 2016. All the Slovak banks are mandated to offer free basic bank accounts to individuals whose monthly income is less than EUR400 ($458.2). However, this limit was revised in January 2019, with the minimum wage being changed to EUR520 ($595.7). Now, individuals can opt for a basic bank account if their income is less than 1.1 times of the monthly minimum wage, EUR572 ($655.3), and 15 times of the annual minimum wage, EUR7,800 ($8,935.3).
Reasons to Buy
- Make strategic business decisions, using top-level historic and forecast market data, related to the Slovakian cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in the Slovakian cards and payments industry.
- Assess the competitive dynamics in the Slovakian cards and payments industry.
- Gain insights into marketing strategies used for various card types in Slovakia.
- Gain insights into key regulations governing the Slovakian cards and payments industry.
Read the full report: https://www.reportlinker.com/p05878055/?utm_source=PRN
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View original content:http://www.prnewswire.com/news-releases/slovakia-cards-and-payments-opportunities-and-risks-to-2023-301042347.html
SOURCE Reportlinker
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