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

The Cambodian cards and payments industry, including debit and credit cards, registered positive growth during the review period, recording a compound annual growth rate (CAGR) of 26.31%. In terms of transaction value, payment cards registered a review-period CAGR of 30.89%. Favorable economic conditions, improved banking infrastructure, new products offered by banks, and growth in card payments at point of sale (POS) terminals all led to growth in card payments.

Cambodia's average transaction value (ATV) ranked it 15th in Asia-Pacific in 2013. China recorded the highest ATV while New Zealand ranked lowest . Cambodia had the lowest card penetration in Asia-Pacific, with 0.1, and ranked 12th in Asia-Pacific in terms of frequency of use of payment cards, with 11.8 transactions per card. New Zealand recorded the highest frequency, with 146.1 transactions per card, followed by Australia with 96.6, South Korea with 44.7, and Singapore with 36.0.

In terms of transaction value, debit cards were the favored payment card in Cambodia in 2013, accounting for 96.9% of card payments, while credit cards accounted for 3.1%. A similar trend is expected over the forecast period. Debit cards are offered to everyone who opens a personal bank account, and banks are promoting these accounts to attract customers. ANZ Royal Bank, for instance, is promoting the Convenience Plus account, offering customers a Royal Debit Card with free international access and money transfer facility. These cards are issued free of charge and can be used to pay utility bills, although they are mostly used at ATMs to withdraw cash, rather than at POS terminals; ATMs accounted for 97.6% of debit card transactions in 2013, while POS terminals accounted for just 2.4%, in terms of transaction volume.

Banks are undertaking initiatives to develop credit cards, and are conducting consumer awareness campaigns in association with Visa. Banks are aiming to ensure that consumers are ready to use credit cards by educating them on how to manage personal finances, and benefit from credit cards without getting into debt. In November 2013, Acleda Bank launched its first Acleda Visa credit card, while Cambodian Bank has launched both Visa and Master Platinum cards. Other banks such as ANZ Royal Bank and CUBC offer added benefits, such as discounts on airport lounges and hotels.

As card transactions increase, so does card fraud, and banks are issuing cards with EMV technology to increase transaction security. CUBC Bank, for instance, implemented EMV security standards by installing ATMs that accept EMV-based transactions for all Visa-branded cards. In March 2014, DataCard Group collaborated with Visco (Cambodia) and Omega Computer Corporation to conduct EMV seminars in Cambodia. The seminar aimed educating banks and customers about the importance of EMV cards, risk management, benefits, and considerations during migration and verification security when authenticating debit and credit transactions at POS terminals and ATMs.

Scope

• GlobalData's 'Cambodia's Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape' report provides a comprehensive analysis of Cambodia's cards and payments industry.

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

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

Key Highlights

• The Cambodian cards and payments industry, including debit and credit cards, registered positive growth during the review period, recording a CAGR of 26.31%. In terms of transaction value, payment cards registered a review-period CAGR of 30.89%.

• The average transaction value (ATV) in Cambodia was US$65.6, ranking 15th in Asia-Pacific in 2013. China recorded the highest ATV, with US$302.4, while New Zealand ranked lowest in Asia-Pacific with an ATV of US$46.3. Cambodia had the lowest card penetration in Asia-Pacific, with 0.1, and ranked 12th in Asia-Pacific in terms of frequency of use of payment cards, with 11.8 transactions per card. New Zealand recorded the highest frequency, with 146.1 transactions per card, followed by Australia with 96.6, South Korea with 44.7, and Singapore with 36.0.

• In terms of transaction value, debit cards were the favored payment card in Cambodia in 2013, accounting for 96.9% of card payments, while credit cards accounted for 3.1%. A similar trend is expected over the forecast period.

• Banks are also taking initiatives to develop credit cards, and are conducting consumer awareness campaigns in association with Visa. Banks are aiming to ensure that consumers are ready to use credit cards by educating them on how to manage personal finances, and benefit from credit cards without getting into debt. In November 2013, Acleda Bank has launched its first Acleda Visa credit card, while Cambodian Bank has launched both Visa and Master Platinum cards. Other banks such as ANZ Royal Bank and CUBC offer added benefits, such as discounts on airport lounges and hotels.

Reasons to buy

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

• Understand the key market trends and growth opportunities in Cambodia's cards and payments industry.

• Assess the competitive dynamics in Cambodia's cards and payments industry.

• Gain insights in to the marketing strategies used to sell various card types in Cambodia.

• Gain insights into key regulations governing Cambodia's cards and payments industry.

Companies mentioned

Acleda Bank Plc

ANZ Royal Bank Cambodia

Canadia Bank Plc

Cambodian Public Bank

Cathay United Bank

Union Commercial Bank

MasterCard

Visa

Table of Contents

1 Key Facts and Top Events

2 Executive Summary

3 Payment Instruments

3.1 Current Payments Environment

3.2 Alternative Payment Instruments

3.2.1 PayPal

3.2.2 Wing mobile

3.2.3 Click2pay

3.2.4 Skrill

3.2.5 ClickandBuy

3.2.6 PayGo Wallet

4 Market Attractiveness and Future Prospects of Cards and Payments

5 Analysis of Cards and Payments Industry Drivers

5.1.1 Demographic drivers

5.1.2 Economic drivers

5.1.3 Infrastructure drivers

5.1.4 Business drivers

6 Emerging Consumer Attitudes and Trends

6.1 Market Segmentation and Targeting

6.1.1 Consumer cards

6.1.2 Corporate cards

6.1.3 New product launches

6.2 Travel Spending

6.2.1 Outbound trip volume and spending

6.2.2 Inbound trip volume and spending

7 Payment Cards

7.1 Payment Cards Instrument Analysis

7.1.1 Number of cards in circulation by card type

7.1.2 Transaction volume by card type

7.1.3 Transaction value by card type

7.1.4 Personal vs commercial cards

8 Debit Cards

8.1 Debit Cards Market Analysis

8.1.1 Number of debit cards in circulation

8.1.2 Debit card transaction volume by channel

8.1.3 Debit card transaction value by channel

8.1.4 Number of debit cards in circulation by scheme

8.1.5 Debit cards transaction value by scheme

8.1.6 Debit cards issuers market shares

8.1.7 Debit cards comparison

9 Credit Cards

9.1 Credit Cards Market Analysis

9.1.1 Number of credit cards in circulation

9.1.2 Credit cards transaction volume by channel

9.1.3 Credit cards transaction value by channel

9.1.4 Number of credit cards in circulation by scheme

9.1.5 Credit cards transaction value by scheme

9.1.6 Credit cards issuers market share

9.1.7 Credit card comparison

10 Commercial Cards

10.1 Commercial Cards Market Analysis

10.1.1 Number of commercial cards in circulation

10.1.2 Commercial cards transaction value

10.1.3 Commercial cards comparison

11 Regulations in the Cards and Payments Industry

11.1 Regulatory Framework

11.2 Anti-Money Laundering (AML)

11.3 Foreign Direct Investment (FDI) Regulations

12 Card Fraud Statistics

12.1 Card Fraud Analysis

13 Card Issuers

13.1 Acleda Bank Plc

13.2 ANZ Royal Bank (Cambodia) Ltd

13.3 Canadia Bank Plc

13.4 Cambodian Public Bank Ltd

13.5 Cathay United Bank (Cambodia) Corporation Ltd

14 Card Schemes

14.1 Visa

14.2 MasterCard

15 Prepaid Cards

15.1 Prepaid Cards Market Analysis

15.1.1 Number of prepaid cards in circulation

15.1.2 Prepaid cards transaction value

15.1.3 Open-loop prepaid cards

15.1.4 Closed-loop prepaid cards

15.1.5 Prepaid card comparison

16 Appendix

16.1 Tables

16.2 Methodology

16.3 Contact GlobalData

16.4 About GlobalData

16.5 GlobalData’s Services

16.6 Definitions

16.7 Disclaimer

List of Tables

Table 1: Cambodia – Key Facts, 2013

Table 2: Regional Benchmarking of Cambodian Payment Cards, 2013

Table 3: Specialized Cards for High-Income Customers

Table 4: Specialized Cards for Frequent Flyers

Table 5: Specialized Cards for Shoppers and Vehicle Owners

Table 6: Specialized Cards for Business Managers and Entrepreneurs

Table 7: Cambodia – New Product Launches

Table 8: Regional Benchmarking of Cambodian Debit Cards, 2013

Table 9: Cambodia – Debit Cards Comparison

Table 10: Regional Benchmarking of Cambodian Credit Cards, 2013

Table 11: Cambodia – Gold Cards Comparison

Table 12: Cambodia – Premium Cards Comparison

Table 13: Cambodia – Commercial Card Comparison and Key Features

Table 14: Cambodia – Market Entry Strategies of Foreign Banks

Table 15: Regional Benchmarking of Cambodian Prepaid Cards, 2013

Table 16: Cambodia – Prepaid Cards Comparison

Table 17: Cambodia – Number of Cards in Circulation by Card Types (Thousand), 2009–2018

Table 18: Cambodia – Transaction Volume by Card Type (Million), 2009–2018

Table 19: Cambodia – Transaction Value by Card Type (KHR Billion), 2009–2018

Table 20: Cambodia – Transaction Value by Card Type (US$ Million), 2009–2018

Table 21: Cambodia – Personal and Commercial Cards Transaction Value (KHR Million), 2009–2018

Table 22: Cambodia – Personal and Commercial Cards Transaction Value (US$ Thousand), 2009–2018

Table 23: Cambodia – Number of Debit Cards in Circulation (Thousand), 2009–2018

Table 24: Cambodia – Debit Cards Transaction Volume and Frequency by Channel, 2009–2018

Table 25: Cambodia – Debit Cards Total and Average Transaction Value by Channel, 2009–2018

Table 26: Cambodia – Debit Cards Total and Average Transaction Value by Channel, 2009–2018

Table 27: Cambodia – Number of Debit Cards in Circulation By Scheme (Thousand), 2009–2013

Table 28: Cambodia – Debit Cards Transaction Value By Scheme (KHR Billion), 2009–2013

Table 29: Cambodia – Debit Cards Transaction Value By Scheme (US$ Million), 2009–2013

Table 30: Cambodia – Debit Cards Transaction Value By Issuer (KHR Billion), 2009–2013

Table 31: Cambodia – Debit Cards Transaction Value By Issuer (US$ Million), 2009–2013

Table 32: Cambodia – Number of Credit Cards in Circulation (Thousand), 2009–2018

Table 33: Cambodia – Credit Cards Transaction Volume and Frequency by Channel, 2009–2018

Table 34: Cambodia – Credit Cards Total and Average Transaction Value by Channel, 2009–2018

Table 35: Cambodia – Credit Cards Total and Average Transaction Value by Channel, 2009–2018

Table 36: Cambodia – Number of Credit Cards in Circulation By Scheme (Thousand), 2009–2013

Table 37: Cambodia – Credit Cards Transaction Value By Scheme (KHR Billion), 2009–2013

Table 38: Cambodia – Credit Cards Transaction Value By Scheme (US$ Million), 2009–2013

Table 39: Cambodia – Credit Cards Transaction Value By Issuer (KHR Billion), 2009–2013

Table 40: Cambodia – Credit Cards Transaction Value By Issuer (US$ Million), 2009–2013

Table 41: Cambodia – Credit Cards Balance Outstanding By Issuer (KHR Billion), 2009–2013

Table 42: Cambodia – Credit Cards Balance Outstanding By Issuer (US$ Thousand), 2009–2013

Table 43: Cambodia – Number of Commercial Credit Cards in Circulation (Thousand), 2009–2018

Table 44: Cambodia – Commercial Cards Transaction Value (KHR Billion), 2009–2018

Table 45: Cambodia – Commercial Cards Transaction Value (US$ Million), 2009–2018

Table 46: Cambodia – Card Fraud (KHR Million), 2009–2013

Table 47: Cambodia – Card Fraud (US$ Thousand), 2009–2013

Table 48: Cambodia – Number of Prepaid Cards in Circulation (Thousand), 2009–2018

Table 49: Cambodia – Prepaid Cards Transaction Value (KHR Billion), 2009–2018

Table 50: Cambodia – Prepaid Cards Transaction Value (US$ Million), 2009–2018

Table 51: Cambodia – Open-Loop Prepaid Cards, 2009–2018

Table 52: Cambodia – Closed-Loop Prepaid Cards, 2009–2018

Table 53: Key Definitions

List of Figures

Figure 1: Cambodia – Payment Cards Transaction Value and Growth, 2009–2018

Figure 2: Cambodia – Total Population (Million) and Proportion Over 65 (%) for 2009–2018

Figure 3: Cambodia – Nominal GDP Per Capita (US$) and Real GDP (%), 2009–2018

Figure 4: Cambodia – ATM Volume and Penetration, 2009–2018

Figure 5: Cambodia – POS Volume and Penetration, 2009–2018

Figure 6: Cambodia – Cards and Payments Industry Segmentation by Card Type

Figure 7: Cambodia – Outbound Trip Volume and Spending, 2009–2018

Figure 8: Cambodia – Inbound Trip Volume and Spending, 2009–2018

Figure 9: Cambodia – Card Shares In Terms of Numbers in Circulation (%), 2009–2018

Figure 10: Cambodia – Card Shares in Terms of Transaction Volume (%), 2009–2018

Figure 11: Cambodia – Card Shares in Terms of Transaction Value (%), 2009–2018

Figure 12: Cambodia – Personal and Commercial Cards, Transaction Value (KHR Billion), 2009–2018

Figure 13: Cambodia – Number of Debit Cards in Circulation (Million), 2009–2018

Figure 14: Cambodia – Debit Card Transaction Volume by Channel (Million), 2009–2018

Figure 15: Cambodia – Debit Card Transaction Value by Channel (KHR Trillion), 2009–2018

Figure 16: Cambodia – Debit Card Scheme Shares in Terms of Number of Cards in Circulation (%), 2013

Figure 17: Cambodia – Debit Card Scheme Market Share in Terms of Transaction Value (%), 2013

Figure 18: Cambodia – Debit Card Issuers’ Market Shares in Terms of Transaction Value (%), 2013

Figure 19: Cambodia – Number of Credit Cards in Circulation (Thousand), 2009–2018

Figure 20: Cambodia – Credit Cards Transaction Volume by Channel (Thousand), 2009–2018

Figure 21: Cambodia – Credit Cards Transaction Value by Channel (KHR Billion), 2009–2018

Figure 22: Cambodia – Credit Cards Scheme Market Share in Terms of Number of Cards in Circulation (%), 2013

Figure 23: Cambodia – Credit Cards Scheme Market Share in Terms of Transaction Value (%), 2013

Figure 24: Cambodia – Credit Cards Issuers Market Share in Terms of Transaction Value (%), 2013

Figure 25: Cambodia – Credit Cards Issuers Market Share in Terms of Outstanding Balance (%), 2013

Figure 26: Cambodia – Number of Commercial Cards in Circulation, 2009–2018

Figure 27: Cambodia – Commercial Cards Transaction Value (KHR Billion), 2009–2018

Figure 28: Cambodia – Shares of Various Types of Card Fraud in Terms of Transaction Value (%), 2009 and 2013

Figure 29: Cambodia – Number of Prepaid Cards in Circulation (Thousand), 2009–2018

Figure 30: Cambodia – Prepaid Cards Transaction Value (KHR Billion), 2009–2018

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