2020 Foresight Report: The Role of the Domestic Payment Card Network
Aarkstore Enterprise (India), 21st August, 2013 :
The report provides information and insights into the dynamics of domestic payment card networks globally and their increasing importance in emerging economies:
Provides insights into sector dynamics including card payment frameworks, a snapshot of domestic card payment networks across the globe, and the competitive landscape in selected developed and emerging economies
Discusses market potential in key target segments along with operation, technical and regulatory challenges for domestic payment card networks
Provides insights into key operational, regulatory and infrastructure drivers supporting the case of domestic payment card networks
Discusses key success factors and strategies adopted by domestic payment card networks with detailed case studies
Includes insights into the expected strategic response of international payment card networks due to the rise in competition
International payment card networks such as Visa and MasterCard enjoy the majority of the global market share, enabling them to control pricing in their favor, leading to high transaction and settlement costs for the overall card payment channel. Owing to this, the idea of government backed domestic networks has started to gain momentum in a number of markets. The emergence of government-backed networks is expected to play a crucial role in the redistribution of market share; they are predicted to lower the cost of transactions and help in the growth of card services to a larger market through increased competition. The success of China’s UnionPay and India’s RuPay are expected to fuel the trend further. The ability to provide transaction facilities for up to 40% cheaper than international networks is expected to be the key growth driver for domestic networks, especially in emerging markets. Moreover, International networks have lagged behind in exploiting business opportunities in certain market segments such as micropayments, social benefit programs, and the reliance of the rural population on small financial institutions.
This report provides comprehensive analysis of domestic payment card networks on a global scale with the current competitive landscape of different payment card networks and their market share in selected developed and emerging economies
Includes insights on both established and dominant domestic networks as well as new emerging schemes
Analyzes key market potentials including target markets, growth drivers and challenges
Examines key strategies adopted by domestic payment card networks to expand their business and increase revenues in both developed and emerging markets
Futuristic outlook about expected strategic response from international payment card networks to counter competition from local and national competitors
• Competition among payment card networks is expected to accelerate over the next five years. This can be attributed to the rise of domestic networks in emerging economies and the opening of economies to international networks, such as in China. The rising competition is expected to have an impact on fees charged by card networks, which are expected to decline from the current levels and will also lead to a redistribution of market share.
• Although international card networks will continue to dominate the overall market over the next five years, domestic networks are expected to gain significant market share, driven by cost advantages and preference by government-aided financial institutions.
• The key target markets of domestic payment card networks include micropayments, small financial institutions and social benefit programs as well as traditional markets. Additionally, domestic networks are expected to increase their focus on smaller, independent stores with rising penetration of innovative technologies such as MPOS devices that support acceptance of card payments with minimal investment.
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