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Malaysian Cards and Payments Market Analysis and Forecasts to 2024: Current and Forecast Values for Debit, Credit and Charge Cards Sectors
Wednesday, November 18, 2020
DUBLIN, Nov. 10, 2020 /PRNewswire/ -- The "Malaysia Cards and Payments - Opportunities and Risks to 2024" report has been added to ResearchAndMarkets.com's offering.
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This report provides detailed analysis of market trends in the Malaysian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, cards, credit transfers, cheques, and direct debits during the review-period (2016-20e).
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 (2020e-24f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.
The report brings together the publisher's research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.
This report provides top-level market analysis, information and insights into the Malaysian cards and payments industry, including -
-- Current and forecast values for each market in the Malaysian cards and
payments industry, including debit, credit, and charge cards.
-- Detailed insights into payment instruments including cash, cards, credit
transfers, cheques, and direct debits. 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
Malaysian cards and payments industry.
-- Detailed analysis of strategies adopted by banks and other institutions
to market debit, credit, and charge cards.
Scope
-- To offer faster payments, PayNet (in partnership with ACI Worldwide)
launched the DuitNow real-time payment platform in December 2018. The
system allows users to make instant credit transfers 24/7 using the
recipient's mobile phone number or another identification number. By the
end of December 2019, almost 8 million users had registered for DuitNow.
In July 2019, a new payment solution called DuitNow QR was launched.
Through DuitNow QR, users can make in-store payments from any
participating banks or e-wallets. Public Bank was the first to adopt the
system, while GrabPay became the first e-wallet provider to do so.
-- In order to further drive financial inclusion in the country, the
central bank is putting more emphasis on digital banking. The bank
released its exposure draft on the licensing framework for digital banks
in December 2019. The document proposes simplified regulatory
requirements and defines minimum capital, capital adequacy, and
liquidity requirements to be maintained by digital banks. Delayed by the
pandemic, the bank plans to release its final policy document in the
coming months. Once the policy framework is finalized the bank intends
to issue five digital banking licenses, which are expected to go live in
2021. In June 2020 the central bank released a policy document on e-KYC
to promote digital onboarding among financial institutions.
-- In accordance with the central bank's Payment Card Reform Framework
dated December 23, 2014, scheme providers are gradually reducing
interchange fees. Effective from January 1, 2019 the revised interchange
fee on Mastercard and Visa credit cards was set at 0.675%, compared to
1.037% in 2017. Also effective from January 1, 2019, American Express
revised its interchange fee on credit cards to 0.575%. Reduced
interchange fees are helping to boost payment card acceptance among
merchants.
Key Topics Covered:
-- Payment Instruments
-- Card-based Payments
-- Merchant Acquiring
-- E-commerce Payments
-- Buy Now Pay Later
-- Mobile Proximity Payments
-- P2P Payments
-- Bill Payments
-- Alternative Payments
-- Payment Innovations
-- Payments Infrastructure & Regulation
-- Appendix
Companies Mentioned
-- Maybank
-- CIMB
-- Hong Leong Bank
-- Public Bank
-- RHB Bank
-- United Overseas Bank
-- AmBank
-- AEON Credit Service
-- Bank Islam Malaysia
-- Al Rajhi Bank
-- Citibank
-- HSBC
-- Visa
-- Mastercard
-- American Express
-- MyDebit
For more information about this report visit https://www.researchandmarkets.com/r/fhx7n0
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
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Research and Markets
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