retail banking


  • Japan Because credit card payments account for about 76 percent of digital purchases in Japan, the growth in the e-commerce market will have a significant impact on the credit cards market during the forecast period
  • Profitability of Hong Kong's credit cards market was positive in 2017 with a pre-tax profit of $1.7 billion, an increase of 12 percent compared to 2016. This represented a profit per credit card of $91.
  • Lebanon The payment cards market is developing significantly. The number of payment cards in circulation grew by about 50 percent between 2011 and 2017.
  • Canada The Canadian credit cards market is mature, with a wide variety of innovative products on offer and high card usage levels. Issuers focus on building and maintaining client loyalty through numerous rewards programmes.
  • USA The average credit card penetration rate per 100 adults increased from 359 in 2011 to 406 in 2017.
  • Africa Excluding South Africa and Mauritius, just about every other market in the region has two things in common: a huge demand for financial services and a banking system that is unable or unwilling to put in place a deep and wide banking and service infrastructure. As most markets enjoy high mobile phone ownership and comprehensive mobile phone coverage, some markets may skip payment cards altogether and pass directly from mostly cash to mostly mobile money.
  • Australia Australian credit cardholders are the highest spenders in the world according to Lafferty Research data. Billed volume per card reached $15,191 in 2017.
  • Ecuador Our current market profile suggests significant opportunities for the development of the retail banking business in Ecuador, including the promotion of payment cards to the large unbanked adult population.
  • Taiwan In order to compete with the three big 'Pays' (Apple Pay, Android Pay and Samsung Pay), the Ministry of Finance, in collaboration with a dozen local banks, has launched Taiwan Pay. Taiwan Pay provides efficient, secure and quicker payment services via QR code technology. Unlike the international mobile payment methods, this service can be used to pay taxes, bills and fees. Another 13 banks are expected to follow the trend, and several retailers have implemented customer incentives to boost the use of Taiwan Pay.
  • Mexico is positioned as one of the most appealing emerging markets for credit cards growth, given its size, growing middle class, robust financial system, consumer preference for using cash and the relative maturity of the electronic payments network.
  • UK P2P lending in Britain is growing at a rapid pace, shaping the future of finance in the country.
  • Philippines Although the credit cards market is still at the early stage of development with about 12 credit cards per 100 adults in 2017, the industry maintains a healthy profit pool.
  • Kenya Banks need to expand their distribution network, beyond the larger cities especially, in order to tap the vast potential that exists for consumer credit.
  • Angola As Angola's young population matures into adulthood over the next decade, this will be reflected in a sharp increase in the number of individuals holding an account at a financial institution. This will significantly boost the number of debit cards in issue, which will have a positive impact on the usage of debit cards.
  • Egypt remains an incredibly appealing market for new e-commerce companies due to the low cost of doing business in the country and also because of the growing preference for online shopping
  • UAE: The UAE is the most profitable credit cards market in the world according to Lafferty's profit pool analysis with profit per card in excess of $200 in 2016
  • Thailand: The market retains great potential in the mid- to long-term as the country's economy improves and an increasing number of consumers become eligible for a credit card
  • Tunisia: Despite some hurdles, Tunisia, with an estimated internet penetration rate of 52 percent at the end of 2017, is expected to become a major e-commerce market in Africa over the coming years
  • Qatar: Qatar's population grew by almost 59 percent between 2010 and 2016. The rise in smartphone and internet penetration is expected to create huge opportunities in the e-commerce sector



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