The report provides top-level market analysis, information and insights into Cambodia's cards and payments industry, including:
â€¢ Current and forecast values for each category of Cambodia's cards and payments industry, including debit cards, credit cards and prepaid cards
â€¢ Comprehensive analysis of the industryâ€™s market attractiveness and future growth areas
â€¢ Analysis of various market drivers and regulations governing Cambodia's cards and payments industry
â€¢ Detailed analysis of marketing strategies adopted to sell debit, credit and prepaid cards used by banks and other institutions in the market
â€¢ Comprehensive analysis of consumer attitudes and buying preferences for ...view middle of the document...
6, South Korea with 44.7, and Singapore with 36.0.
In terms of transaction value, debit cards were the favored payment card in Cambodia in 2013, accounting for 96.9% of card payments, while credit cards accounted for 3.1%. A similar trend is expected over the forecast period. Debit cards are offered to everyone who opens a personal bank account, and banks are promoting these accounts to attract customers. ANZ Royal Bank, for instance, is promoting the Convenience Plus account, offering customers a Royal Debit Card with free international access and money transfer facility. These cards are issued free of charge and can be used to pay utility bills, although they are mostly used at ATMs to withdraw cash, rather than at POS terminals; ATMs accounted for 97.6% of debit card transactions in 2013, while POS terminals accounted for just 2.4%, in terms of transaction volume.
Banks are also taking initiatives to develop credit cards, and are conducting consumer awareness campaigns in association with Visa. Banks are aiming to ensure that consumers are ready to use credit cards by educating them on how to manage personal finances, and benefit from credit cards without getting into debt. In November 2013, Acleda Bank has launched its first Acleda Visa credit card, while Cambodian Bank has launched both Visa and Master Platinum cards. Other banks such as ANZ Royal Bank and CUBC offer added benefits, such as discounts on airport lounges and hotels.
As card transactions increase, so does card fraud, and banks are issuing cards with EMV technology to increase transaction security. CUBC Bank, for instance, implemented EMV security standards by installing ATMs that accept EMV-based transactions for all Visa-branded cards. In March 2014, Data Card Group collaborated with Visco (Cambodia) and Omega Computer Corporation to conduct EMV seminars in Cambodia. The seminar aimed educating banks and customers about the importance of EMV cards, risk management, benefits, and considerations during migration and verification security when authenticating debit and credit transactions at POS terminals and ATMs.
To get details at: http://www.reportscue.com/cambodias-cards-and-payments-industry-emerging-opportunities-trends-size-drivers-strategies-products-and-competitive-landscape-market
â€¢ This report provides a comprehensive analysis of Cambodia's cards and payments industry.
â€¢ It provides current values for Cambodia's cards and payments industry for 2013, and forecast figures for 2018.
â€¢ It details the different economic, infrastructural and business drivers affecting Cambodia's cards and payments industry.
â€¢ It outlines the current regulatory framework in the industry.