Market Opportunities and Emerging Trends in the Prepaid Card Market in South Africa: Market Profile

Synopsis

The report provides top-level market analysis, information and insights on South Africa's prepaid card market, including:

• Current and forecast values for the South African prepaid card market
• Comprehensive, country-specific analysis of the industry’s market attractiveness, covering key trends and drivers, plus benchmarking with other key markets
• Detailed analysis of the marketing strategies adopted for selling prepaid cards used by various bankers in the market
• Detailed analysis of the challenges affecting the South African prepaid card market

Summary

The prepaid cards market has slowly gained popularity in South Africa, as organized retailers and vendors began to accept prepaid cards, with no processing fee. Furthermore, hoteliers and vehicle rental vendors have also started to accept prepaid cards for their service transactions. In addition, convenience will be the most important driver of the adoption of prepaid cards in South Africa. In South Africa, financial cards are not very popular in many rural areas due to a lack of technological infrastructure and a poor response, in terms of the uptake of such technology, by merchants and vendors. Street vendors and merchants often prefer cash transactions, as the card processing fees applied to each transaction by banks reduces their profit margin. This lack of technological acceptance in rural areas poses a challenge for the prepaid cards market.The South African Banking sector is consolidated with four large profitable banks, which are: ABSA Bank, First National Bank of South Africa (FNB), Nedbank and Standard Bank. These banks accounted for over XX% of the retail banking market in 2011. Standard Bank is the market leader in terms of total assets and prepaid cards sales. The bank registered ZARXX million prepaid cards sales in 2011.

Scope

• This report provides a comprehensive analysis of the prepaid card market in South Africa
• It provides current values for the South African prepaid card market and forecast figures to 2016
• It offers a detailed analysis of the key markets in the South African prepaid card market, along with market forecasts until 2016
• It details the different macroeconomic factors affecting the South African prepaid card market
• It covers an exhaustive summary of the key trends and drivers affecting the prepaid card market
• It outlines the current regulatory framework in the industry
• It details the marketing strategies used by various bankers
• It profiles the major banks in the South African prepaid card market

Reasons To Buy

• Make strategic business decisions using top-level historic and forecast market data related to the South African prepaid card industry and each market within it
• Understand the business trends and growth drivers within the South African prepaid card market
• Assess the competitive landscape for the prepaid card market in South Africa
• Gain insights into the marketing strategies used by prepaid card vendors
• Gain insights into the key trends, drivers and challenges governing the prepaid card market in South Africa

Key Highlights

• The South African prepaid cards market grew significantly during the review period and this is expected to grow at a CAGR XX% over the forecast period. Such growth can be attributed to the projected social protection expenditure by the South African National Treasury, which is expected to pay wages to millions of South Africans through prepaid cards over the forecast period.