The Cards and Payments Industry in the Philippines: Emerging Trends and Opportunities to 2019

GlobalData’s 'The Cards and Payments Industry in the Philippines: Emerging Trends and Opportunities to 2019' report provides detailed analysis of market trends in the Philippine cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including check payments, payment cards and cash transactions during the review period (2010–2014).

The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, and transaction values and volumes during the review period and over the forecast period (2015–2019). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together GlobalData’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.

Scope

• This report provides a comprehensive analysis of the Philippines cards and payments industry.

• It provides current values for the Philippine cards and payments industry for 2014, and forecast figures to 2019.

• It details the different demographic, economic, infrastructural and business drivers affecting the Philippine cards and payments industry.

• It outlines the current regulatory framework in the industry.

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

Key Highlights

• To capitalize on the increasing uptake of mobile point-of-sale (mPOS) solutions among small and medium merchants such as insurance agents and food-delivery businesses, solution providers are offering low-cost mPOS services. For instance, Swiff, a mobile payment technology provider signed an agreement with G-Xchange, a mobile payment and remittance service provider in March 2014 to introduce Globe Charge, an mPOS service in the Philippines. Globe Charge is an Europay, MasterCard, and Visa (EMV) Level 2-certified service offering merchants different payment acceptance options including chip and PIN, chip and sign, and swipe and sign. Similarly, car-booking company GrabTaxi expanded its cashless payment service by entering into a partnership with Visa in May 2015. This agreement allows GrabTaxi vehicles to carry a Globe Charge terminal enabling passengers to make payments via a Visa debit, credit or prepaid card. The introduction of low-cost terminals is anticipated to encourage merchants to accept card-based payments, further driving payment card transaction volume and values.

• To provide enhanced card security, the Bangko Sentral ng Pilipinas (BSP) – the central bank of the Philippines, in November 2014, made it mandatory for banks to shift from the traditional magnetic stripe to more secure EMV chip cards by January 2017. Following this announcement, BancNet signed an agreement with Visa in February 2015 to accelerate the migration to EMV chip cards for all domestic transactions. In addition to cards, the migration process ensures that ATMs and POS terminals are compliant with the EMV standards. The increasing adoption of security measures is expected to encourage consumers to carry out more card-based transactions.

• Banks in the Philippines are offering bank accounts and debit cards enabling beneficiaries at home to receive funds to capitalize on the rising inflow of remittances from Filipinos residing abroad. A number of banks, including Banco de Oro, the Land Bank of the Philippines and the Philippines National Bank, have started offering remittance debit cards. More recently in September 2015, the Land Bank of the Philippines formed a partnership with Trans-Fast Remittance LLC, a provider of multi-currency cross-border payments solutions to enable Trans-Fast customers worldwide to make real-time instant money transfers into Land Bank accounts in the Philippines. The rising inflow of remittances is expected to increase demand for bank accounts and remittance debit cards.

Reasons to buy

• Make strategic business decisions, using top-level historic and forecast market data, related to the Philippine cards and payments industry and each market within it.

• Understand the key market trends and growth opportunities in the Philippine cards and payments industry.

• Assess the competitive dynamics in the Philippine cards and payments industry.

• Gain insights into marketing strategies used for various card types in the Philippines.

• Gain insights into key regulations governing the Philippine cards and payments industry.

Companies mentioned

Land Bank of the Philippines

Metrobank

BPI

RCBC

MegaLink

BancNet

Visa

MasterCard

American Express

JCB

Table of Contents

1 Definitions and Methodology

1.1 Definitions

1.2 Methodology

2 Key Facts and Events

3 Executive Summary

4 Payment Instruments

4.1 Current Payment Environment

5 E-Commerce

5.1 E-Commerce Market Analysis

6 Alternative Payments

6.1 Alternative Payment Instruments

6.1.1 GCash

6.1.2 PayPal

6.1.3 Smart Money

6.1.4 Dragonpay

7 Regulations in the Cards and Payments Industry

7.1 Regulatory Framework

7.1.1 Prohibited credit card debt collection practices

7.2 Anti-Money Laundering (AML)

7.3 Foreign Direct Investment (FDI) Regulations

8 Analysis of Cards and Payments Industry Drivers

8.1 Demographic Drivers

8.2 Economic Drivers

8.3 Infrastructure Drivers

8.4 Business Drivers

9 Market Segmentation and New Product Launches

9.1 Market Segmentation and Targeting

9.1.1 Consumer cards

9.1.2 Commercial cards

9.2 New Product Launches

10 Payment Cards

10.1 Payment Cards Market Analysis

10.1.1 Volume and value of payment card transactions by type

10.1.2 Personal vs commercial cards

11 Debit Cards

11.1 Debit Card Market Analysis

11.1.1 Debit card transaction volumes and values by channel

11.1.2 Debit card scheme and issuer shares in terms of transaction values

11.1.3 Debit cards comparison

12 Credit Cards

12.1 Credit Card Market Analysis

12.1.1 Credit card transaction volumes and values by channel

12.1.2 Credit card scheme and issuer shares in terms of transaction value

12.1.3 Credit cards comparison

13 Charge Cards

13.1 Charge Card Market Analysis

13.1.1 Charge card transaction volumes and values by channel

13.1.2 Charge card scheme shares in terms of transaction values

14 Commercial Cards

14.1 Commercial Card Market Analysis

14.1.1 Commercial cards comparison

15 Prepaid Cards

15.1 Prepaid Card Market Analysis

15.1.1 Prepaid cards comparison

16 Appendix

16.1 Tables

16.2 Contact GlobalData

16.3 About GlobalData

16.4 GlobalData’s Services

16.5 Disclaimer

List of Tables

Table 1: Key Definitions

Table 2: Annual Average Exchange Rate

Table 3: The Philippines – Key Facts, 2014

Table 4: Regional Benchmarking of Philippine Payment Cards, 2014

Table 5: The Philippines – Mode of Entry of Foreign Banks

Table 6: Cards for High-Income Consumers, 2016

Table 7: Cards for Travelers, 2016

Table 8: Cards for Shoppers, 2016

Table 9: Commercial Cards Comparison and Key Features, 2016

Table 10: The Philippines – New Product Launches

Table 11: The Philippines – Debit Card Comparisons and Key Features, 2016

Table 12: The Philippines – Gold Credit Cards Comparison and Key Features, 2016

Table 13: The Philippines – Premium Credit Cards Comparison and Key Features, 2016

Table 14: The Philippines – Commercial Card Comparisons and Key Features, 2016

Table 15: The Philippines – Prepaid Card Comparisons and Key Features, 2016

Table 16: The Philippines – Payment Instrument Transaction Values (PHP Billion), 2010–2014

Table 17: The Philippines – Payment Instrument Transaction Values (US$ Billion), 2010–2014

Table 18: The Philippines – Payment Instrument Transaction Volumes (Million), 2010–2014

Table 19: The Philippines – Number of Payment Cards in Circulation by Type (Million), 2010–2019

Table 20: The Philippines – Volume of Payment Card Transactions by Type (Million), 2010–2019

Table 21: The Philippines – Value of Payment Card Transactions by Type (PHP Billion), 2010–2019

Table 22: The Philippines – Value of Payment Card Transactions by Type (US$ Billion), 2010–2019

Table 23: The Philippines – Personal and Commercial Card Transaction Volumes ( Million), 2010–2019

Table 24: The Philippines – Personal and Commercial Card Transaction Values (PHP Billion), 2010–2019

Table 25: The Philippines – Personal and Commercial Card Transaction Values (US$ Billion), 2010–2019

Table 26: The Philippines – Number of Debit Cards in Circulation (Million), 2010–2019

Table 27: The Philippines – Debit Card Transaction Volumes and Frequency by Channel, 2010–2019

Table 28: The Philippines – Debit Card Total and Average Transaction Values by Channel, 2010–2019

Table 29: The Philippines – Debit Card Total and Average Transaction Values by Channel, 2010–2019

Table 30: The Philippines – Number of Debit Cards in Circulation by Scheme (Million), 2010–2014

Table 31: The Philippines – Debit Card Transaction Values by Scheme (PHP Billion), 2010–2014

Table 32: The Philippines – Debit Card Transaction Values by Scheme (US$ Billion), 2010–2014

Table 33: The Philippines – Debit Card Transaction Values by Issuer (PHP Billion), 2010–2014

Table 34: The Philippines – Debit Card Transaction Values by Issuer (US$ Billion), 2010–2014

Table 35: The Philippines – Number of Credit Cards in Circulation (Million), 2010–2019

Table 36: The Philippines – Credit Card Transaction Volumes and Frequency by Channel, 2010–2019

Table 37: The Philippines – Credit Card Total and Average Transaction Values by Channel, 2010–2019

Table 38: The Philippines – Credit Card Total and Average Transaction Values by Channel, 2010–2019

Table 39: The Philippines – Number of Credit Cards in Circulation by Scheme (Million), 2010–2014

Table 40: The Philippines – Credit Card Transaction Values by Scheme (PHP Billion), 2010–2014

Table 41: The Philippines – Credit Card Transaction Values by Scheme (US$ Billion), 2010–2014

Table 42: The Philippines – Pay Later Card Transaction Values by Issuer (PHP Billion), 2010–2014

Table 43: The Philippines – Pay Later Card Transaction Values by Issuer (US$ Million), 2010–2014

Table 44: The Philippines – Credit Card Balances Outstanding by Issuer (PHP Billion), 2010–2014

Table 45: The Philippines – Credit Card Balances Outstanding by Issuer (US$ Million), 2010–2014

Table 46: The Philippines – Number of Charge Cards in Circulation (Thousand), 2010–2019

Table 47: The Philippines – Charge Card Transaction Volumes and Frequency by Channel, 2010–2019

Table 48: The Philippines – Charge Card Total and Average Transaction Values by Channel, 2010–2019

Table 49: The Philippines – Charge Card Total and Average Transaction Values by Channel, 2010–2019

Table 50: The Philippines – Number of Charge Cards in Circulation by Scheme (Thousand), 2010–2014

Table 51: The Philippines – Charge Card Transaction Values by Scheme (PHP Billion), 2010–2014

Table 52: The Philippines – Charge Card Transaction Values by Scheme (US$ Million), 2010–2014

Table 53: The Philippines – Number of Commercial Cards in Circulation (Thousand), 2010–2019

Table 54: The Philippines – Commercial Card Transaction Values (PHP Billion), 2010–2019

Table 55: The Philippines – Commercial Card Transaction Values (US$ Billion), 2010–2019

Table 56: The Philippines – Number of Prepaid Cards in Circulation (Million), 2010–2019

Table 57: The Philippines – Prepaid Card Transaction Values (PHP Billion), 2010–2019

Table 58: The Philippines – Prepaid Card Transaction Values (US$ Billion), 2010–2019

List of Figures

Figure 1: The Philippines – Payment Instrument Shares by Transaction Value (%), 2010 and 2014

Figure 2: The Philippines – Payment Instrument Shares by Transaction Volume (%), 2010 and 2014

Figure 3: The Philippines – E-Commerce Value (US$ Billion) and Payment Types (%)

Figure 4: The Philippines – Total Population and Structure

Figure 5: The Philippines – Economic Indicators

Figure 6: The Philippines – Number of ATMs, POS Terminals and Commercial Bank Branches

Figure 7: The Philippines – Real Household Consumption

Figure 8: The Philippines – Segmentation by Card Type, 2016

Figure 9: The Philippines – Growth in Payment Card Transaction Values and Number of Cards in Circulation by Type, 2010–2019

Figure 10: The Philippines – Volume and Value of Payment Card Transactions by Type (%), 2010–2019

Figure 11: The Philippines – Personal and Commercial Card, Transaction Volumes and Values (%), 2010–2019

Figure 12: The Philippines – Growth in Debit Card Transaction Values and Number of Debit Cards in Circulation, 2010–2019

Figure 13: The Philippines – Debit Card Transaction Volumes and Values by Channel, 2010–2019

Figure 14: The Philippines – Debit Card Scheme and Issuer Shares in Terms of Transaction Values (%), 2014

Figure 15: The Philippines – Growth in Credit Card Transaction Values and Number of Credit Cards in Circulation, 2010–2019

Figure 16: The Philippines – Credit Card Transaction Volumes and Values by Channel, 2010–2019

Figure 17: The Philippines – Credit Card Scheme and Issuer Shares in Terms of Transaction Value (%), 2014

Figure 18: The Philippines – Growth in Charge Card Transaction Values and Number of Charge Cards in Circulation, 2010–2019

Figure 19: The Philippines – Charge Card Transaction Volumes and Values by Channel, 2010–2019

Figure 20: The Philippines – Charge Card Scheme Shares in Terms of Transaction Values (%), 2014

Figure 21: The Philippines – Number of Commercial Cards in Circulation and Transaction Value, 2010–2019

Figure 22: The Philippines – Number of Prepaid Cards in Circulation and Transaction Value, 2010–2019

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