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(Medical-NewsWire.com, August 27, 2016 ) It provides values and volumes for a number of key performance indicators in the industry, including credit transfers, direct debits, payment cards and check payments during the review period (2011–2015).
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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 (2016–2020). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.
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The report brings together Publisher’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailes of regulatory policy and recent changes in the regulatory structure.
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Report Scope
This report provides a comprehensive analysis of Vietnam's cards and payments industry.
It provides current values for Vietnam's cards and payments industry for 2015, and forecast figures to 2020.
It details the different demographic, economic, infrastructural and business drivers affecting Vietnam's 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 expand the country’s banking sector and to encourage foreign participation, the government lifted the cap on foreign investment in September 2015, allowing foreign investors to own majority shares in domestic banks – in accordance with Decree No. 60/2015/ND-CP on June 26, 2015 (the New Regulation). Previously, foreign banks were allowed to hold minority shares in joint-venture banks, although they were allowed to enter the market using other modes such setting up subsidiaries, branches or representative offices. A number of foreign banks, such as BNP Paribas, Citibank, HSBC, Standard Chartered Bank and ING Bank, already have a presence. With favorable foreign direct investment (FDI) regulations, more international banks are expected to enter Vietnam, providing a boost to the country’s payment cards market.
Banks are taking a number of initiatives to support the government’s financial inclusion plan to bring the unbanked into the formal banking system. The latest initiative was the launch of a mobile-based financial service by HDBank in alliance with financial technology company GlobeOne in February 2016. The service allows consumers to conduct transactions such as opening a demand deposit or security savings account, obtaining a line of credit, and making domestic and international fund transfers using a smartphone app.
To increase the uptake of point of sale (POS) solutions among small and medium-sized enterprises (SMEs), in January 2015 Vietnam Export Import Commercial Joint Stock Bank and electronic payment service provider Wirecard Group launched the Eximbank mobile point of sale (mPOS) solution, enabling merchants to accept payments through smartphones or tablets. The mPOS device can read magnetic strip and Europay, Mastercard, and Visa (EMV) chip cards. In June 2014, MasterCard and Sacombank entered into a partnership, offering mPOS solutions to SMEs at the Ben Thanh market in Vietnam. The partnership enabled Ben Thanh market to transform from cash-only to Vietnam’s first wet market to accept payment cards. The introduction of mPOS solutions is anticipated to encourage SMEs to accept card-based payments, further driving payment card transaction volumes and values.
Reasons to Buy
Make strategic business decisions, using top-level historic and forecast market data related to Vietnam's cards and payments industry and each market within it.
Understand the key market trends and growth opportunities in Vietnam's cards and payments industry.
Assess the competitive dynamics in Vietnam's cards and payments industry.
Gain insights into marketing strategies used for various card types in Vietnam.
Gain insights into key regulations governing Vietnam's cards and payments industry.
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Priya Sisodia
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Source: EmailWire.Com 
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