The in-depth analysis of the historical data provides the Philippines Cards and Payments Market report offering vital information about the market status for the forecast period. Exhaustive research and analysis of the vital market segments such as, top market players across different geographical locations, their products and the end-users can help to understand the product trend, challenges, revenue, and growth factors. Global Philippines Cards and Payments Market also provides meaningful insight regarding the market size, market status, growth rate, future trends, market drivers, opportunities and challenges etc. Further, the report delivers details regarding the restraints, channels, and distributors, sales dynamics, and profit margin etc for the Philippines Cards and Payments Market.
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Top Company Profile Analysis in this Report
Philippines Cards and Payments Market Report provides detailed analysis of market trends in the Philippines cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, cards, and cheques during the review-period (2015-19e).
Philippines Cards and Payments Market Report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2019e-23f). It also offers information on the country’s competitive landscape, including market shares of issuers and schemes.
Philippines Cards and Payments Market Report brings together 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.
Philippines Cards and Payments Market Report provides top-level market analysis, information and insights into the Philippines cards and payments industry, including –
– Current and forecast values for each market in the Philippines cards and payments industry, including debit, credit, and charge cards.
– Detailed insights into payment instruments including cash, cards, and cheques. It also, includes an overview of the country’s key alternative payment instruments.
– E-commerce market analysis.
– Analysis of various market drivers and regulations governing the Philippines cards and payments industry.
– Detailed analysis of strategies adopted by banks and other institutions to market debit, credit, and charge cards.
Scope of this Report-
– In April 2018, the central bank launched an instant payment service – InstaPay, under the National Retail Payment System (NRPS) framework – in an effort to boost electronic payments. The service is available 24/7, 365 days. Users can transfer funds up to PHP50,000 ($952.56) per transaction instantly. The service can be availed by individuals, businesses, and government agencies having savings, current or e-money accounts with participating banks. The service can be accessed through mobile banking apps or internet banking services. As of November 30, 2019, there were 45 participants in the InstaPay service. Furthermore, the central bank launched the National QR Code Standard – QR Ph, in November 2019, enabling merchants to accept electronic payments. The funds are transferred through InstaPay.
– To foster healthy competition in the Filipino credit card market, the central bank approved the new Philippine Credit Card Industry Regulation Law in May 2018, which is intended to ensure safe, efficient and fair business conduct. The law comes with Implementing Rules and Regulations (IRR) that are set to allow new players, other than banks, their affiliates and subsidiaries, into the credit card market. The entry of new organizations is expected to result in transparent and competitive interest rates, innovative products and enhanced services. In addition, the new IRR tackles customer concerns associated with credit cards, including the transparency of charges and fees, unfair collection practices, immediate payments posting, consumer data confidentiality, and the fast resolution of complaints and disputed transactions.
– To boost electronic payments in the Philippines, international payment solutions are making an entry into the market. GrabPay is a digital payment solution launched by Grab in the Philippines in October 2018. The solution allows users to pay for in-store payments by scanning the merchant’s QR code. It also allows users to make payments on online stores and apps and funds transfers and bill payments. Popular alternative payment solutions such as PayPal and Masterpass are also present in the market.
Reasons to Buy this Report-
– Make strategic business decisions, using top-level historic and forecast market data, related to the Philippines cards and payments industry and each market within it.
– Understand the key market trends and growth opportunities in the Philippines cards and payments industry.
– Assess the competitive dynamics in the Philippines cards and payments industry.
– Gain insights into marketing strategies used for various card types in Philippines.
– Gain insights into key regulations governing the Philippines cards and payments industry.
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Table of Contents
Payments Infrastructure & Regulation