Romania Cards and Payments – Opportunities and Risks to 2027

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Romania Cards and Payments Market Report Overview

The annual value of card transactions in the Romania cards and payments market is estimated to be $61.5 billion in 2023 and is expected to grow at a CAGR of more than 15% during 2023-2027. The Romanian government and the central bank are promoting electronic payments. That, coupled with a growing consumer awareness and a gradual rise in payment card acceptance are the factors gradually driving the Romanians towards electronic payments. The central bank and financial institutions have taken several steps to boost financial inclusion, such as offering low-cost basic bank accounts and account-switching facilities to low-income individuals. Moreover, Romanians are substituting cash payments for debit card payments for low-value transactions.

Romania Card Transactions Outlook, 2023-2027 ($ Billion)

Romania Card Transactions Outlook, 2023-2027 ($ Billion)

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The Romania cards and payments market research report provides a detailed analysis of market trends in the Romania cards and payments industry. It provides values and volumes for several key performance indicators in the industry, including cards, credit transfers, direct debits, and cheques during the review period. 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. It also offers information on the country’s competitive landscape, including market shares of issuers and schemes. The report also covers details of regulatory policy and recent changes in the regulatory structure. It includes information on the payment instruments that are in use in the Romania market, the key segments within the market, as well as the companies associated with the Romania cards and payments market.

Annual Value of Card Transactions (2023) $61.5 billion
CAGR (2023-2027) >15%
Forecast Period 2023-2027
Historical Period 2019-2022
Key Payment Instruments ·        Cards

·        Cash

·        Credit transfers

·        Direct debits

·        Cheques

Key Segments ·        Card-Based Payments

·        E-commerce Payments

·        Alternative Payments

Leading Players ·        PayPal

·        Google Pay

·        Apple Pay

·        Masterpass

·        BT Pay

·        OTPay

·        ING Pay

·        Klarna

·        Volt

·        Orange Money

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Romania Cards and Payments Market Dynamics

Romania Cards and Payments Market Dynamics

Due to the debt-averse nature of consumers, the credit and charge card market in Romania is relatively small. However, issuers are pushing its adoption and usage by offering value-added benefits such as installment payment facilities, reward points, and discounts. The gradual adoption of contactless technology, a strong e-commerce market, and the emergence of alternative payment solutions will boost the Romanian payment market going forward.

An increasing preference for contactless payments and a growth in contactless transport payments support the migration of Romanian customers from cash to cards. Furthermore, payment companies are offering cost-effective mobile-based POS solutions for SMEs besides traditional POS devices to improve payment infrastructure and capitalize on the growing popularity of electronic payments.

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Romania Cards and Payments Market Segmentation by Payment Instruments

Cash has the highest share in 2023 in volume terms as it has traditionally been a popular method of payment for low-value transactions.

The key payment instruments in the Romania cards and payments market are cash, cards, credit transfers, direct debits, and cheques. Credit transfers lead the market in 2023 in terms of value and are generally used for high-value and bulk transfers. For credit transfer, large-value leu transactions are processed via real-time gross settlement system ReGIS, low-value transactions are processed by SENT, and large-value euro-denominated transactions are processed by TARGET2-Romania.

Romania Cards and Payments Market Analysis by Payment Instruments, 2023 (%)

Romania Cards and Payments Market Analysis by Payment Instruments, 2023 (%)

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Romania Cards and Payments Market Segments

The Romanian debit card market is dominated by Visa and Mastercard.

The key segments in the Romania cards and payments market are card-based e-commerce and alternative payments.

Card-Based Payments: Debit cards have the highest share among the cards in circulation. Due to COVID-19, the cash-dominated economy of Romania has already started shifting towards card payments to avoid potential disease vectors. Digital-only banks will complement traditional banks in pushing overall banking and card penetration. Visa leads the market in terms of transaction volume and value, while Mastercard leads in terms of number of cards in circulation.

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Romania Cards and Payments Market - Competitive Landscape

Some of the leading players in the Romania cards and payments market are:

  • PayPal
  • Google Pay
  • Apple Pay
  • Masterpass
  • BT Pay
  • OTPay
  • ING Pay
  • Klarna
  • Volt
  • Orange Money

PayPal: It is a money transfer and e-commerce payment provider that allows users to transfer money from their bank account to their PayPal account to make online payments without the need for bank cards. The financial information of the buyer is not shared with the seller while using PayPal.

Leading Romania Cards and Payments Players, 2023

Leading Romania Cards and Payments Players, 2023

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Segments Covered in the Report

Romania Cards and Payments Instruments Outlook (Value, $ Billion, 2019-2027)

  • Cards
  • Cash
  • Credit transfers
  • Direct debits
  • Cheques

Romania Cards and Payments Market Segments Outlook (Value, $ Billion, 2019-2027)

  • Card-Based Payments
  • E-commerce Payments
  • Alternative Payments

Scope

This report provides top-level market analysis, information, and insights into the Romania cards and payments industry, including –

  • Current and forecast values for each market in the Romanian cards and payments industry, including debit and credit cards.
  • Detailed insights into payment instruments including cards, cash, credit transfers, direct debits, and cheques. 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 Romania cards and payments industry.
  • Detailed analysis of strategies banks and other institutions adopt to market debit and credit cards.
  • Comprehensive analysis of consumer attitudes and buying preferences for cards.
  • The competitive landscape of the Romania cards and payments industry.

Reasons to Buy

  • Make strategic business decisions, using top-level historical and forecast market data related to the Romanian cards and payments industry and each market within it.
  • Understand the key market trends and growth opportunities in the Romanian cards and payments industry.
  • Assess the competitive dynamics in the Romanian cards and payments industry.
  • Gain insights into marketing strategies used for various card types in Romania.
  • Gain insights into key regulations governing the Romanian cards and payments industry.

Banca Transilvania
BCR
BRD
Credit Europe Bank
BNP Paribas
Erste Bank
UniCredit Bank
Mastercard
National Bank of Romania
Raiffeisen Bank
Societe Generale Group
Visa

Table of Contents

Market Overview

Payment Instruments

Card-Based Payments

Ecommerce Payments

Alternative Payments

Payment Innovations

Job Analysis

Payment Infrastructure and Regulation

Appendix

Frequently asked questions

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