The Cards and Payments Industry in Estonia: Emerging Trends and Opportunities to 2021

GlobalData’s 'The Cards and Payments Industry in Estonia: Emerging Trends and Opportunities to 2021' report provides detailed analysis of market trends in the Estonian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including direct debits, check payments, payment cards, cash transactions and credit transfers during the review period (2012–2016).

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 (2017–2021). It also offers information on the country's competitive landscape, including the 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 details of regulatory policy and recent changes in the regulatory structure.

Scope

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

• It provides current values for the Estonian cards and payments industry for 2016, and forecast figures to 2021.

• It details the different demographic, economic, infrastructural and business drivers affecting the Estonian 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 increase broadband access for the general population, the government launched the Digital Agenda 2020 program in 2014. The aim is to provide 60% of the country with 100mbps high-speed broadband; basic services will run at 30mbps. In December of the same year, the government extended the electronic citizenship (e-residency) system to include Estonian citizens residing in other countries. The service was also developed to include e-residency for individuals looking to establish a business in Estonia. This program provides users with a digital ID card with an integrated chip, which allows them to use private and public sector services, encrypt files and digitally sign documents. In April 2016, the government declared that e-residents could open Estonian bank accounts without having to visit a branch. These initiatives are expected to drive the growth of digital payments.

• In line with the rising adoption of contactless technology in Europe, Estonia is expected to adopt more contactless platforms over the forecast period (2017–2021). With Swedbank, Nordea and LHV Pank having launched contactless technology, the uptake of contactless payments will increase. Sebbank (SEB) plans to introduce contactless cards by 2017.

• Alternative payments are gaining prominence, with the availability of Fortumo, Taxify and WioPay. Fortumo, headquartered in Estonia, has evolved into a leading carrier billing payment solution with operations in 96 countries and contracts with 350 mobile network operators. Fortumo is provided through the mobile operators Telia, Elisa and Tele2. Taxify launched its mobile carrier billing service in April 2015; the app allows Android and iOS users to pay taxi fares through their mobile service provider.

Reasons to buy

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

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

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

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

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

Companies mentioned

Swedbank

Sebbank

Nordea Bank

Danske Bank

Visa

MasterCard

Table of Contents

1 DEFINITIONS AND METHODOLOGY

1.1 Definitions

1.2 Methodology

2 KEY FACTS AND HIGHLIGHTS

3 EXECUTIVE SUMMARY

4 PAYMENT INSTRUMENTS

4.1 Current Payment Environment

5 E-COMMERCE AND ALTERNATIVE PAYMENTS

5.1 E-Commerce Market Analysis

5.2 Alternative Payment Solutions

5.2.1 Fortumo

5.2.2 Skrill

5.2.3 Taxify

5.2.4 Cuber wallet

5.2.5 Paytailor wallet

5.2.6 WioPay

5.2.7 Paych

6 REGULATION IN THE CARDS AND PAYMENTS INDUSTRY

6.1 Regulatory Framework

6.1.1 SEPA cards framework

6.2 Anti-Money Laundering (AML)

6.3 Foreign Direct Investment (FDI) Regulations

7 ANALYSIS OF CARDS AND PAYMENTS INDUSTRY DRIVERS

8 PAYMENT CARDS

9 DEBIT CARDS

9.1 Debit Cards Market Analysis

9.2 Competition in Debit Cards Market

9.3 Debit Cards Comparison

10 PAY LATER CARDS

10.1 Pay Later Cards Market Analysis

10.2 Competition in Pay Later Cards Market

10.3 Pay Later Cards Comparison

11 APPENDIX

11.1 Tables

11.2 Contact GlobalData

11.3 About GlobalData

11.4 GlobalData’s Services

11.5 Disclaimer

List of Tables

Table 1: Key Definitions

Table 2: Annual Average Exchange Rate

Table 3: Estonia – Key Facts, 2016

Table 4: Regional Benchmarking of Estonia Payment Cards, 2016

Table 5: Estonia – Mode of Entry of Foreign Banks

Table 6: Estonia – Debit Cards Comparison and Key Features, 2016

Table 7: Estonia – Gold Credit Cards Comparison and Key Features, 2016

Table 8: Estonia – Premium Credit Cards Comparison and Key Features, 2016

Table 9: Estonia – Charge Cards Comparison and Key Features, 2016

Table 10: Estonia – Payment Instrument Transaction Values (EUR Million), 2012–2016

Table 11: Estonia – Payment Instrument Transaction Values (US$ Million), 2012–2016

Table 12: Estonia – Payment Instrument Transaction Volumes (Thousand), 2012–2016

Table 13: Estonia – Number of Payment Cards in Circulation by Type (Thousand), 2012–2021

Table 14: Estonia – Volume of Payment Card Transactions by Type (Million), 2012–2021

Table 15: Estonia – Value of Payment Card Transactions by Type (EUR Million), 2012–2021

Table 16: Estonia – Value of Payment Card Transactions by Type (US$ Million), 2012–2021

Table 17: Estonia – Number of Debit Cards in Circulation (Million), 2012–2021

Table 18: Estonia – Debit Card Transaction Volumes and Frequency by Channel, 2012–2021

Table 19: Estonia – Debit Card Total and Average Transaction Values by Channel, 2012–2021

Table 20: Estonia – Debit Card Total and Average Transaction Values by Channel, 2012–2021

Table 21: Estonia – Number of Debit Cards in Circulation by Scheme (Thousand), 2012–2016

Table 22: Estonia – Debit Card Transaction Values by Scheme (EUR Million), 2012–2016

Table 23: Estonia – Debit Card Transaction Values by Scheme (US$ Million), 2012–2016

Table 24: Estonia – Debit Card Transaction Values by Issuer (EUR Billion), 2012–2016

Table 25: Estonia – Debit Card Transaction Values by Issuer (US$ Billion), 2012–2016

Table 26: Estonia – Number of Pay Later Cards in Circulation (Thousand), 2012–2021

Table 27: Estonia – Pay Later Card Transaction Volumes and Frequency by Channel, 2012–2021

Table 28: Estonia – Pay Later Card Total and Average Transaction Values by Channel, 2012–2021

Table 29: Estonia – Pay Later Card Total and Average Transaction Values by Channel, 2012–2021

Table 30: Estonia – Number of Pay Later Cards in Circulation by Scheme (Thousand), 2012–2016

Table 31: Estonia – Pay Later Card Transaction Values by Scheme (EUR Million), 2012–2016

Table 32: Estonia – Pay Later Card Transaction Values by Scheme (US$ Million), 2012–2016

Table 33: Estonia – Pay Later Card Transaction Values by Issuer (EUR Million), 2012–2016

Table 34: Estonia – Pay Later Card Transaction Values by Issuer (US$ Million), 2012–2016

Table 35: Estonia – Number of Credit Cards in Circulation (Thousand), 2012–2021

Table 36: Estonia – Credit Card Transaction Volumes and Frequency by Channel, 2012–2021

Table 37: Estonia – Credit Card Total and Average Transaction Values by Channel, 2012–2021

Table 38: Estonia – Credit Card Total and Average Transaction Values by Channel, 2012–2021

Table 39: Estonia – Number of Credit Cards in Circulation by Scheme (Thousand), 2012–2016

Table 40: Estonia – Credit Card Transaction Values by Scheme (EUR Million), 2012–2016

Table 41: Estonia – Credit Card Transaction Values by Scheme (US$ Million), 2012–2016

Table 42: Estonia – Number of Charge Cards in Circulation (Thousand), 2012–2021

Table 43: Estonia – Charge Card Transaction Volumes and Frequency by Channel, 2012–2021

Table 44: Estonia – Charge Card Total and Average Transaction Values by Channel, 2012–2021

Table 45: Estonia – Charge Card Total and Average Transaction Values by Channel, 2012–2021

Table 46: Estonia – Number of Charge Cards in Circulation by Scheme (Thousand), 2012–2016

Table 47: Estonia – Charge Card Transaction Values by Scheme (EUR Million), 2012–2016

Table 48: Estonia – Charge Card Transaction Values by Scheme (US$ Million), 2012–2016

Table 49: Estonia – Personal and Commercial Pay Later Card Transaction Volumes (Million), 2012–2021

Table 50: Estonia – Personal and Commercial Pay Later Card Transaction Values (EUR Million), 2012–2021

Table 51: Estonia – Personal and Commercial Pay Later Card Transaction Values (US$ Billion), 2012–2021

Table 52: Estonia – Number of Commercial Pay Later Cards in Circulation (Thousand), 2012–2021

Table 53: Estonia – Commercial Pay Later Card Transaction Volumes (Million), 2012–2021

Table 54: Estonia – Commercial Pay Later Card Transaction Values (EUR Million), 2012–2021

Table 55: Estonia – Commercial Pay Later Card Transaction Values (US$ Million), 2012–2021

List of Figures

Figure 1: Estonia – Payment Instrument Shares by Transaction Value (%), 2012 vs 2016

Figure 2: Estonia – Payment Instrument Shares by Transaction Volume (%), 2012 vs 2016

Figure 3: Estonia – E-Commerce Value, 2012–2021

Figure 4: Estonia – Population

Figure 5: Estonia – Economic Indicators

Figure 6: Estonia – ATMs and POS Terminals

Figure 7: Estonia – Household Consumption

Figure 8: Estonia – Growth in Payment Card Transaction Values, 2012–2021

Figure 9: Estonia – Number of Cards in Circulation by Type, 2012–2021

Figure 10: Estonia – Debit Card Penetration, 2016

Figure 11: Estonia – Turnover Per Debit Card, 2016

Figure 12: Estonia – Debit Card Issuer Share in Terms of Transaction Value, 2016

Figure 13: Estonia – Debit Card Scheme Share in Terms of Transaction Value, 2016

Figure 14: Estonia – Pay Later Card Penetration, 2016

Figure 15: Estonia – Turnover Per Pay Later Card, 2016

Figure 16: Estonia – Pay Later Card Scheme Share in Terms of Transaction Value, 2016

Figure 17: Estonia – Pay Later Card Issuer Share in Terms of Transaction Value, 2016

    Pricing

Discounts available for multiple purchases.

reportstore@globaldata.com
+44 20 7947 2745

Join our mailing list

Saved reports