Romania’s Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape

In terms of the number of cards in circulation, the Romanian card payments channel registered positive growth during the review period (2009–2013), recording a compound annual growth rate (CAGR) of 2.75%, to reach 14.7 million cards by the end of 2013. In value terms, the channel valued RON138.7 billion (US$10.9 billion) in 2013.

The debit cards category held the highest share, with 79.6% of cards in circulation in 2013. It is expected to continue to maintain the highest share, and record a forecast-period CAGR of 2.83%, rising from 12.0 million cards in 2014 to 13.4 million in 2018. The credit cards category had the second-largest share of 16.3% in 2013, followed by prepaid cards with 4.0%. Over the forecast period, the number of prepaid cards is expected to increase from 687,496 in 2014 to 1.0 million in 2018, at the fastest CAGR of 11.13%. The charge card category held a negligible industry share of 0.1% in 2013.

The value of the Romanian e-commerce market is expected to increase from RON6.2 billion (US$1.8 billion) in 2014 to RON13.5 billion (US$4.0 billion) in 2018, at a forecast-period CAGR of 21.64%, supported by the growing internet penetration and the rising number of online retailers.

Romanian authorities are supportive of payment innovations such as contactless technology. This is primarily due to the benefits contactless payments can offer; they are simple, faster and more convenient, particularly for small purchases. The number of contactless-enabled cards in circulation in the country is expected to double to reach 400,000 cards by the end of 2014.

Scope

• This report provides a comprehensive analysis of Romania's cards and payments industry.

• It provides current values for Romania's cards and payments industry for 2013, and forecast figures for 2018.

• It details the different economic, infrastructural and business drivers affecting Romania's cards and payments industry.

• It outlines the current regulatory framework in the industry.

• It details the marketing strategies used by various banks and other institutions.

• It profiles the major banks in Romania's cards and payments industry.

Key Highlights

• In terms of the number of cards in circulation, the Romanian card payments channel registered positive growth during the review period (2009–2013), recording a compound annual growth rate (CAGR) of 2.75%, to reach 14.7 million cards by the end of 2013. In value terms, the channel valued RON138.7 billion (US$10.9 billion) in 2013.

• The debit cards category held the highest share, with 79.6% of cards in circulation in 2013. It is expected to continue to maintain the highest share and record a forecast-period CAGR of 2.83%, rising from 12.0 million cards in 2014 to 13.4 million in 2018. The credit cards category had the second-largest share of 16.3% in 2013, followed by prepaid cards with 4.0%. Over the forecast period, the number of prepaid cards is expected to increase from 687,496 in 2014 to 1.0 million in 2018, at the fastest CAGR of 11.13%. The charge card category held a negligible industry share of 0.1% in 2013.

• The value of the Romanian e-commerce market is expected to increase from RON6.2 billion (US$1.8 billion) in 2014 to RON13.5 billion (US$4.0 billion) in 2018, at a forecast-period CAGR of 21.64%, supported by the growing internet penetration and the rising number of online retailers.

• Romanian authorities are supportive of payment innovations such as contactless technology. This is primarily due to the benefits contactless payments can offer; they are simple, faster and more convenient, particularly for small purchases. The number of contactless-enabled cards in circulation in the country is expected to double to reach 400,000 cards by the end of 2014.

Reasons to buy

• Make strategic business decisions using top-level historic and forecast market data related to Romania's cards and payments industry and each market within it.

• Understand the key market trends and growth opportunities within the industry.

• Assess the competitive dynamics in the industry.

• Gain insights in to the marketing strategies used for selling various card types in Romania.

• Gain insights into key regulations governing the industry.

Companies mentioned

Raiffeisen Bank

BRD – Groupe Société Générale

Romanian Commercial Bank

Banca Transilvania

Bancpost

RBS Romania

MasterCard

Visa

American Express

Table of Contents

1 Executive Summary

2 Analysis of Industry Environment, Key Trends and Drivers

2.1 Payment Infrastructure and Emerging Technologies

2.1.1 ATMs

2.1.2 Point of sale (POS) terminals

2.1.3 Internet penetration

2.1.4 Contactless technology

2.1.5 Europay, MasterCard and Visa (EMV)

2.1.6 M-payments

2.2 Business Drivers

2.2.1 Growth of e-commerce

2.2.2 Retail sales value

2.3 Economic Drivers

2.3.1 Nominal GDP per capita

2.3.2 Real GDP growth

2.3.3 Inflation

3 Cards and Payments Industry Share Analysis

3.1 Industry Overview

3.1.1 Cash transactions

3.1.2 Check payments

3.1.3 Direct debits

3.1.4 Credit transfers

3.1.5 Card transactions

4 Regulatory Framework and Card Fraud Statistics

4.1 Regulatory Framework

4.1.1 SEPA cards framework

4.1.2 Regulation related to the storage of card fraud information

4.1.3 Anti-money laundering framework

4.1.4 Foreign direct investment (FDI) regulations

4.2 Card Fraud Statistics

4.2.1 Card-not-present

4.2.2 Counterfeit card

4.2.3 Lost or stolen card

4.2.4 Card ID theft

5 Emerging Consumer Attitudes and Trends

5.1 Market Segmentation and Targeting

5.1.1 Retail segment

5.1.2 Corporate segment

5.2 Travel and Tourism Spending

5.2.1 Outbound tourist volume

5.2.2 Outbound tourist spending

5.3 Retail Card Spending

5.3.1 Analysis by product categories

5.3.2 Analysis by retail channels

6 Analysis of Card Payments and Growth Prospects

6.1 Channel Share Analysis by Card Category

6.2 Size and Forecast of the Card Payments Channel

6.2.1 Analysis by volume of cards in circulation

6.2.2 Analysis by transaction value

7 Analysis of Credit Card Payments and Growth Prospects

7.1 Overall Category Size and Forecast

7.1.1 Analysis by volume of cards in circulation

7.1.2 Analysis by transaction value

7.1.3 Analysis by transaction volume

7.2 Transaction Share Analysis by Channel

7.2.1 Analysis by transaction value

7.2.2 Analysis by transaction volume

7.3 Personal Credit Cards Size and Forecast

7.3.1 Analysis by volume of cards in circulation

7.3.2 Analysis by transaction value

7.3.3 Analysis by transaction volume

7.4 Commercial Credit Cards Size and Forecast

7.4.1 Analysis by number of cards in circulation

7.4.2 Analysis by transaction value

7.4.3 Analysis by transaction volume

7.5 Competitive Landscape

7.5.1 Scheme share analysis

7.5.2 Issuer share analysis

8 Analysis of Debit Card Payments and Growth Prospects

8.1 Overall Category Size and Forecast

8.1.1 Analysis by volume of cards in circulation

8.1.2 Analysis by transaction value

8.1.3 Analysis by transaction volume

8.2 Transaction Share Analysis by Channel

8.2.1 Analysis by transaction value

8.2.2 Analysis by transaction volume

8.3 Competitive Landscape

8.3.1 Scheme share analysis

8.3.2 Issuer share analysis

9 Analysis of Charge Card Payments and Growth Prospects

9.1 Overall Category Size and Forecast

9.1.1 Analysis by volume of cards in circulation

9.1.2 Analysis by transaction value

9.1.3 Analysis by transaction volume

9.2 Transaction Share Analysis by Channel

9.2.1 Analysis by transaction value

9.2.2 Analysis by transaction volume

9.3 Personal Charge Cards Size and Forecast

9.3.1 Analysis by number of cards in circulation

9.3.2 Analysis by transaction value

9.3.3 Analysis by transaction volume

9.4 Commercial Charge Cards Size and Forecast

9.4.1 Analysis by number of cards in circulation

9.4.2 Analysis by transaction value

9.4.3 Analysis by transaction volume

9.5 Competitive Landscape

9.5.1 Scheme share analysis

10 Analysis of Prepaid Card Payments and Growth Prospects

10.1 Overall Category Size and Forecast

10.1.1 Analysis by volume of cards in circulation

10.1.2 Analysis by transaction value

10.2 Open-Loop Prepaid Cards Segment Size and Forecast

10.2.1 Analysis by number of cards in circulation

10.2.2 Analysis by transaction value

10.3 Closed-Loop Prepaid Cards Segment Size and Forecast

10.3.1 Analysis by volume of cards in circulation

10.3.2 Analysis by transaction value

11 Merchant Acquiring

12 Company Profiles of Card Issuers

12.1 Raiffeisen Bank

12.1.1 Key financials

12.1.2 Card portfolio

12.1.3 Strategies

12.2 BRD – Groupe Société Générale (BRD)

12.2.1 Key financials

12.2.2 Card portfolio

12.2.3 Strategies

12.3 Romanian Commercial Bank (BCR)

12.3.1 Key financials

12.3.2 Card portfolio

12.3.3 Strategies

12.4 Banca Transilvania (BT)

12.4.1 Key financials

12.4.2 Card portfolio

12.4.3 Strategies

12.5 Bancpost

12.5.1 Key financials

12.5.2 Card portfolio

12.5.3 Strategies

13 Appendix

13.1 Methodology

13.2 Contact GlobalData

13.3 About GlobalData

13.4 GlobalData’s Services

13.5 Definitions

13.6 Disclaimer

List of Tables

Table 1: Romanian Payment Channels (RON Billion), 2009–2013

Table 2: Market Entry Strategies of Foreign Banks in Romania

Table 3: Romanian Card Fraud (RON Thousand), 2009–2013

Table 4: Cards for Premium Customers

Table 5: Cards for Students and the Young Population

Table 6: Cards for Frequent Shoppers

Table 7: Cards for SMEs and Corporate Customers

Table 8: Romanian Card Spending by Product Category (RON Million), 2008–2012

Table 9: Romanian Card Spending by Retail Channel (RON Million), 2008 and 2012

Table 10: Romania Card Payments Channel by Card Category (Thousand), 2009–2018

Table 11: Romanian Card Payments Channel Size by Volume of Cards (Million), 2009–2018

Table 12: Romanian Card Payments Channel Size by Transaction Value (RON Billion), 2009–2018

Table 13: Romanian Card Payments Channel Size by Transaction Value (US$ Billion), 2009–2018

Table 14: Romanian Credit Cards Category Size by Volume of Cards (Thousand), 2009–2018

Table 15: Romanian Credit Cards Category Size by Transaction Value (RON Million), 2009–2018

Table 16: Romanian Credit Cards Category Size by Transaction Value (US$ Million), 2009–2018

Table 17: Romanian Credit Card Category Size by Transaction Volume (Million), 2009–2018

Table 18: Romanian Personal Credit Cards Segment Size by Volume of Cards (Thousand), 2009–2018

Table 19: Romanian Personal Credit Cards Segment Size by Transaction Value (RON Million), 2009–2018

Table 20: Romanian Personal Credit Cards Segment Size by Transaction Value (US$ Million), 2009–2018

Table 21: Romanian Personal Credit Cards Segment Size by Transaction Volume (Million), 2009–2018

Table 22: Romanian Commercial Credit Cards Segment Size by Volume of Cards (Thousand), 2009–2018

Table 23: Romanian Commercial Credit Cards Segment Size by Transaction Value (RON Million), 2009–2018

Table 24: Romanian Commercial Credit Cards Segment Size by Transaction Value (US$ Million), 2009–2018

Table 25: Romanian Commercial Credit Cards Segment Size by Transaction Volume (Thousand), 2009–2018

Table 26: Romanian Debit Cards Category Size by Volume of Cards (Million), 2009–2018

Table 27: Romanian Debit Cards Category Size by Transaction Value (RON Billion), 2009–2018

Table 28: Romanian Debit Cards Category Size by Transaction Value (US$ Billion), 2009–2018

Table 29: Romanian Debit Cards Category Size by Transaction Volume (Million), 2009–2018

Table 30: Romanian Charge Cards Category Size by Volume of Cards (Thousand), 2009–2018

Table 31: Romanian Charge Cards Category Size by Transaction Value (RON Million), 2009–2018

Table 32: Romanian Charge Cards Category Size by Transaction Value (US$ Million), 2009–2018

Table 33: Romanian Charge Cards Category Size by Transaction Volume (Thousand), 2009–2018

Table 34: Romanian Personal Charge Cards Segment Size by Volume of Cards (Thousand), 2009–2018

Table 35: Romanian Personal Charge Cards Segment Size by Transaction Value (RON Million), 2009–2018

Table 36: Romanian Personal Charge Cards Segment Size by Transaction Value (US$ Thousand), 2009–2018

Table 37: Romanian Personal Charge Cards Segment Size by Transaction Volume (Thousand), 2009–2018

Table 38: Romanian Commercial Charge Cards Segment Size by Volume of Cards (Thousand), 2009–2018

Table 39: Romanian Commercial Charge Cards Segment Size by Transaction Value (RON Million), 2009–2018

Table 40: Romanian Commercial Charge Cards Segment Size by Transaction Value (US$ Million), 2009–2018

Table 41: Romanian Commercial Charge Cards Segment Size by Transaction Volume (Thousand), 2009–2018

Table 42: Romanian Prepaid Cards Category Size by Volume of Cards (Thousand), 2009–2018

Table 43: Romanian Prepaid Cards Category Size by Transaction Value (RON Million), 2009–2018

Table 44: Romanian Prepaid Cards Category Size by Transaction Value (US$ Million), 2009–2018

Table 45: Romanian Open-Loop Prepaid Cards Segment Size by Volume of Cards (Thousand), 2009–2018

Table 46: Romanian Open-Loop Prepaid Cards Segment Size by Transaction Value (RON Million), 2009–2018

Table 47: Romanian Open-Loop Prepaid Cards Segment Size by Transaction Value (US$ Million), 2009–2018

Table 48: Romanian Closed-Loop Prepaid Cards Segment Size by Volume of Cards (Thousand), 2009–2018

Table 49: Romanian Closed-Loop Prepaid Cards Segment Size by Transaction Value (RON Million), 2009–2018

Table 50: Romanian Closed-Loop Prepaid Cards Segment Size by Transaction Value (US$ Million), 2009–2018

Table 51: Raiffeisen Bank – Key Financial Indicators (RON Million), December 2011 and 2012

Table 52: Raiffeisen Bank – Card Product Offerings and Key Features

Table 53: BRD – Key Financial Indicators (RON Million), December 2011 and 2012

Table 54: BRD – Card Product Offerings and Key Features

Table 55: BCR – Key Financial Indicators (RON Billion), December 2011 and 2012

Table 56: BCR – Card Product Offerings and Key Features

Table 57: BT – Key Financial Indicators (RON Million), December 2012 and 2012

Table 58: BT – Card Product Offerings and Key Features

Table 59: Bancpost – Key Financial Indicators (RON Million), December 2011 and 2012

Table 60: Bancpost – Card Product Offerings and Key Features

Table 61: Key Definitions

List of Figures

Figure 1: Benchmarking the Romanian Payment Cards Channel Against Other Markets in Europe

Figure 2: Romania – Growth of Various Card Categories (%), 2009–2018

Figure 3: Romanian ATM Penetration, 2009–2018

Figure 4: Romanian POS Terminals Penetration, 2009–2018

Figure 5: Romanian Internet Penetration (Internet Users per 100 Inhabitants) (%), 2009–2018

Figure 6: Romanian Number of EMV Cards (Million), 2008–2012

Figure 7: Romanian M-Payment Value (RON Billion), 2009–2018

Figure 8: Romanian E-Commerce Value (RON Billion), 2009–2018

Figure 9: Retail Sales Value in Romania (RON Billion), 2009–2018

Figure 10: Romanian Nominal GDP per Capita (US$ Thousand), 2009–2018

Figure 11: Romanian Real GDP Growth Rate (%), 2009–2018

Figure 12: Romanian Inflation Rate (Consumer Price Inflation) (%), 2009–2018

Figure 13: Share of Romanian Payment Channels (%), 2009 and 2013

Figure 14: Romanian Card Fraud (%), 2009 and 2013

Figure 15: Romanian Card-Not-Present Fraud Value (RON Thousand), 2009–2013

Figure 16: Romanian Counterfeit Card Fraud Value (RON Thousand), 2009–2013

Figure 17: Romanian Lost or Stolen Card Fraud Value (RON Thousand), 2009–2013

Figure 18: Romanian Card ID Theft Value (RON Thousand), 2009–2013

Figure 19: Romanian Cards and Payments Industry Segmentation by Card Type

Figure 20: Romanian Volume of Outbound Trips (Thousand), 2009–2018

Figure 21: Romanian Outbound Tourist Spending (RON Million), 2009–2018

Figure 22: Romanian Card Spending by Product Category (%), 2012

Figure 23: Romanian Card Spending by Retail Channel (%), 2012

Figure 24: Romanian Card Payments Channel by Card Category (%), 2009–2018

Figure 25: Romanian Card Payments Channel Size by Volume of Cards (Million), 2009–2018

Figure 26: Romanian Card Payments Channel Size by Transaction Value (RON Billion), 2009–2018

Figure 27: Romanian Credit Cards Volume and Penetration, 2009–2018

Figure 28: Romanian Credit Cards Category Size by Volume of Cards (Million), 2009–2018

Figure 29: Romanian Credit Cards Category Size by Transaction Value (RON Billion), 2009–2018

Figure 30: Romanian Credit Card Category Size by Transaction Volume (Million), 2009–2018

Figure 31: Romanian Credit Card Transaction Value by Channel (RON Billion), 2009–2018

Figure 32: Romanian Credit Card Transaction Volume by Channel (Million), 2009–2018

Figure 33: Romanian Personal Credit Cards Segment Size by Volume of Cards (Million), 2009–2018

Figure 34: Romanian Personal Credit Cards Segment Size by Transaction Value (RON Billion), 2009–2018

Figure 35: Romanian Personal Credit Cards Segment Size by Transaction Volume (Million), 2009–2018

Figure 36: Romanian Commercial Credit Cards Segment Size by Volume of Cards (Thousand), 2009–2018

Figure 37: Romanian Commercial Credit Cards Segment Size by Transaction Value (RON Million), 2009–2018

Figure 38: Romanian Commercial Credit Cards Segment Size by Transaction Volume (Thousand), 2009–2018

Figure 39: Romanian Credit Cards Category Share by Scheme (%), 2012

Figure 40: Romanian Credit Cards Category Share by Issuer (%), 2012

Figure 41: Romanian Debit Cards Category Volume and Penetration, 2009–2018

Figure 42: Romanian Debit Card Category Size by Volume of Cards (Million), 2009–2018

Figure 43: Romanian Debit Cards Category Size by Transaction Value (RON Billion), 2009–2018

Figure 44: Romanian Debit Cards Category Size by Transaction Volume (Million), 2009–2018

Figure 45: Romanian Debit Cards Category Transaction Value by Channel (RON Billion), 2009–2018

Figure 46: Romanian Debit Card Transaction Volume by Channel (Million), 2009–2018

Figure 47: Romanian Debit Cards Category Share by Scheme (%), 2012

Figure 48: Romanian Debit Cards Category Share by Issuer (%), 2012

Figure 49: Romanian Charge Cards Category Volume and Penetration, 2009–2018

Figure 50: Romanian Charge Cards Category Size by Volume of Cards (Thousand), 2009–2018

Figure 51: Romanian Charge Cards Category Size by Transaction Value (RON Million), 2009–2018

Figure 52: Romanian Charge Cards Category Size by Transaction Volume (Thousand), 2009–2018

Figure 53: Romanian Charge Card Transaction Value by Channel (RON Million), 2009–2018

Figure 54: Romanian Charge Card Transaction Volume by Channel (Thousand), 2009–2018

Figure 55: Romanian Personal Charge Cards Segment Size by Volume of Cards (Thousand), 2009–2018

Figure 56: Romanian Personal Charge Cards Segment Size by Transaction Value (RON Million), 2009–2018

Figure 57: Romanian Personal Charge Cards Segment Size by Transaction Volume (Thousand), 2009–2018

Figure 58: Romanian Commercial Charge Cards Segment Size by Volume of Cards (Thousand), 2009–2018

Figure 59: Romanian Commercial Charge Cards Segment Size by Transaction Value (RON Million), 2009–2018

Figure 60: Romanian Commercial Charge Cards Segment Size by Transaction Volume (Thousand), 2009–2018

Figure 61: Romania Charge Cards Category Share by Scheme (%), 2012

Figure 62: Romanian Prepaid Cards Category Volume and Penetration, 2009–2018

Figure 63: Romanian Prepaid Cards Category Size by Volume of Cards (Thousand), 2009–2018

Figure 64: Romanian Prepaid Cards Category Size by Transaction Value (RON Million), 2009–2018

Figure 65: Romanian Open-Loop Prepaid Cards Segment Size by Volume of Cards (Thousand), 2009–2018

Figure 66: Romanian Open-Loop Prepaid Cards Segment Size by Transaction Value (RON Million), 2009–2018

Figure 67: Romanian Closed-Loop Prepaid Cards Segment Size by Volume of Cards (Thousand), 2009–2018

Figure 68: Romanian Closed-Loop Prepaid Cards Segment Size by Transaction Value (RON Million), 2009–2018

Figure 69: Market Shares of Key Acquirers’ POS Terminals in Romania (%), 2013

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