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The Cards and Payments Industry in Bulgaria: Emerging Trends and Opportunities to 2020

The Cards and Payments Industry in Bulgaria: Emerging Trends and Opportunities to 2020

Synopsis

Timetric’s 'The Cards and Payments Industry in Bulgaria: Emerging Trends and Opportunities to 2020' report provides detailed analysis of market trends in the Bulgarian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash transactions, credit transfers, direct debits and payment cards during the review period (2011–2015).

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 the market shares of issuers and schemes.

The report brings together Timetric’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in the regulatory structure.

Summary

Timetric’s 'The Cards and Payments Industry in Bulgaria: Emerging Trends and Opportunities to 2020' report provides top-level market analysis, information and insights into the Bulgarian cards and payments industry, including:

  • Current and forecast values for each market in the Bulgarian cards and payments industry, including debit and credit cards.
  • Detailed insights into payment instruments including cash transactions, credit transfers, direct debits and payment cards. 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 Bulgarian cards and payments industry.
  • Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.
  • Comprehensive analysis of consumer attitudes and buying preferences for cards.
  • The competitive landscape in Bulgarian cards and payments industry.
Scope
  • This report provides a comprehensive analysis of the Bulgarian cards and payments industry.
  • It provides current values for the Bulgarian cards and payments industry for 2015, and forecast figures to 2020.
  • It details the different demographic, economic, infrastructural and business drivers affecting the Bulgarian cards and payments industry.
  • It outlines the current regulatory framework in the industry.
  • It details marketing strategies used by various banks and other institutions.
Reasons To Buy
  • Make strategic business decisions, using top-level historic and forecast market data, related to the Bulgarian cards and payments industry and each market within it.
  • Understand the key market trends and growth opportunities in the Bulgarian cards and payments industry.
  • Assess the competitive dynamics in the Bulgarian cards and payments industry.
  • Gain insights into marketing strategies used for various card types in Bulgaria.
  • Gain insights into key regulations governing the Bulgarian cards and payments industry.
Key Highlights
  • The Bulgarian National Bank (BNB), the central bank of Bulgaria, implemented the EU rule on interchange fees in 2014, capping the interchange fees for credit and debit cards at 0.3% and 0.2% respectively. As a result, merchants are expected to benefit from lower transaction costs. The regulation is anticipated to impact profitability in the Bulgarian payment cards market. With a reduction in revenue, issuers are likely to cut card offerings and benefits for consumers, and look at new ways to generate revenue.
  • Contactless technology is gaining traction in Bulgaria, with leading banks such as Unicredit Bulbank, DSK Bank, UBB, Fibank and Raiffeisenbank now offering contactless cards in the country. By the end of 2015, Unicredit Bulbank had issued 500,000 contactless cards. Of the 20,000 POS terminal installations by the bank, 12,000 were enabled with contactless functionality. In 2015, the bank equipped six Sofia Metropolitan stations with 10 unattended ticketing machines, all enabled for contactless payments. The rising adoption of contactless technology is anticipated to drive payment card transaction volumes.
  • Banks in Bulgaria are now launching mobile wallets to offer convenient banking services to consumers. First Investment Bank AD (Fibank) launched its mobile wallet in April 2016, equipped with NFC contactless and MasterCard's certified Host Card Emulation (HCE) technology. The users can add card details to the wallet for future transactions. In May 2016, Postbank launched the m-Postbank mobile wallet, allowing consumers to perform online transactions.


  • Definitions and Methodology
    • Definitions
      • Table Key Definitions
    • Methodology
      • Table Annual Average Exchange Rate
  • Key Facts and Highlights
    • Table Bulgaria - Key Facts, 2015
    • Table Regional Benchmarking of Bulgaria's Payment Cards, 2015
  • Executive Summary
  • Payment Instruments
  • E-Commerce and Alternative Payments
    • E-Commerce Market Analysis
    • Alternative Payment Solutions
      • Paysafecard
      • PayPal
      • G-wallet
      • Fibank mobile wallet
      • iCARD multi-currency wallet
  • Regulations in the Cards and Payments Industry
    • Regulatory Framework
      • SEPA Cards Framework
    • Anti-Money Laundering (AML)
    • Foreign Direct Investment (FDI) Regulations
      • Table Bulgaria - Mode of Entry of Foreign
  • Analysis of Cards and Payments Industry Drivers
  • Payment Cards
  • Debit Cards
    • Debit Cards Market Analysis
    • Competition in Debit Cards Market
    • Debit Cards Comparison
      • Table Bulgaria - Debit Cards Comparison and Key Features, 2016
  • Pay Later Cards
    • Pay Later Cards Market Analysis
    • Competition in Pay Later Cards Market
    • Pay Later Cards Comparison
      • Table Bulgaria - Gold Credit Cards Comparison and Key Features, 2016
      • Table Bulgaria - Premium Credit Cards Comparison and Key Features, 2016
  • Prepaid Cards
  • Appendix
    • Tables
      • Table Bulgaria - Payment Instrument Transaction Values (BGN Billion), 2011-2015
      • Table Bulgaria - Payment Instrument Transaction Values (US$ Billion), 2011-2015
      • Table Bulgaria - Payment Instrument Transaction Volumes (Million), 2011-2015
      • Table Bulgaria - Number of Payment Cards in Circulation by Type (Million), 2011-2020
      • Table Bulgaria - Volume of Payment Card Transactions by Type (Million), 2011-2020
      • Table Bulgaria - Value of Payment Card Transactions by Type (BGN Billion), 2011-2020
      • Table Bulgaria - Value of Payment Card Transactions by Type (US$ Billion), 2011-2020
      • Table Bulgaria - Number of Debit Cards in Circulation (Million), 2011-2020
      • Table Bulgaria - Debit Card Transaction Volumes and Frequency by Channel, 2011-2020
      • Table Bulgaria - Debit Card Total and Average Transaction Values by Channel, 2011-2020
      • Table Bulgaria - Number of Debit Cards in Circulation by Scheme (Million), 2011-2015
      • Table Bulgaria - Debit Card Transaction Values by Scheme (BGN Million), 2011-2015
      • Table Bulgaria - Debit Card Transaction Values by Scheme (US$ Million), 2011-2015
      • Table Bulgaria - Debit Card Transaction Values by Issuer (BGN Billion), 2011-2015
      • Table Bulgaria - Debit Card Transaction Values by Issuer (US$ Billion), 2011-2015
      • Table Bulgaria - Number of Pay Later Cards in Circulation (Million), 2011-2020
      • Table Bulgaria - Pay Later Card Transaction Volumes and Frequency by Channel, 2011-2020
      • Table Bulgaria - Pay Later Card Total and Average Transaction Values by Channel, 2011-2020
      • Table Bulgaria - Number of Pay Later Cards in Circulation by Scheme (Thousand), 2011-2015
      • Table Bulgaria - Pay Later Card Transaction Values by Scheme (BGN Million), 2011-2015
      • Table Bulgaria - Pay Later Card Transaction Values by Scheme (US$ Million), 2011-2015
      • Table Bulgaria - Pay Later Card Transaction Values by Issuer (BGN Million), 2011-2015
      • Table Bulgaria - Pay Later Card Transaction Values by Issuer (US$ Million), 2011-2015
      • Table Bulgaria - Personal and Commercial Pay Later Card Transaction Volumes (Million), 2011-2020
      • Table Bulgaria - Personal and Commercial Pay Later Card Transaction Values (BGN Billion), 2011-2020
      • Table Bulgaria - Personal and Commercial Pay Later Card Transaction Values (US$ Billion), 2011-2020
      • Table Bulgaria - Number of Commercial Pay Later Cards in Circulation (Thousand), 2011-2020
      • Table Bulgaria - Commercial Pay Later Card Transaction Volumes (Million), 2011-2020
      • Table Bulgaria - Commercial Pay Later Card Transaction Values (BGN Billion), 2011-2020
      • Table Bulgaria - Commercial Pay Later Card Transaction Values (US$ Billion), 2011-2020
      • Table Bulgaria - Number of Prepaid Cards in Circulation (Thousand), 2011-2020
      • Table Bulgaria - Prepaid Card Transaction Values (BGN Million), 2011-2020
      • Table Bulgaria - Prepaid Card Transaction Values (US$ Million), 2011-2020
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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