AArkstore enterprise 28th Novenber 2014
Kenyas Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Str ategies, Products and Browse Full Report @ http://www.aarkstore.com/financial-services/65193/kenyas-cards-and-payments-industryemerging-opportunities-trends-size-drivers-strategies-products-and-competitive-landscape Published: Nov 2014 | No. Of Pages: 86 Pages PDF: $ 3995 | Site Licence : $ 7990 |Enterprise Wide Licence :$11985
Competitive Landscape
Synopsis The report provides top-level market analysis, information and insights on Kenya's cards and payments industry, including: Current and forecast values for each category of Kenya's cards and payments industry, including debit cards, credit cards, charge cards and prepaid cards Comprehensive analysis of the industrys market attractiveness and future growth areas
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AArkstore enterprise Analysis of various market drivers and regulations governing Kenya's cards and payments industry Detailed analysis of the marketing strategies adopted for selling debit, credit, charge and prepaid cards used by banks and other institutions in the market Comprehensive analysis of consumer attitudes and buying preferences for cards The competitive landscape of Kenya's cards and payments industry
Summary Kenya is developing into a hub for electronic payments, and is likely to become a focal point for wider growth across east Africa. A number of economic and demographic factors have driven the growth of the Kenyan cards and payments industry. The country is renowned as one of the most peaceful and stable in Africa. Demographically and economically, the country is well positioned, with an average age of just 18, and expectations of healthy GDP growth over the forecast period (20142018). Young populations are typically more willing to embrace innovation and technology, and have long working lives ahead of them, making them more likely to become wealthier and consume more banking products and services. In terms of the number of cards in circulation, Kenyan payment cards (including debit, credit and charge cards) registered robust growth during the review period (20092013), recording a compound annual growth rate (CAGR) of 26.32% to increasing from 3.8 million cards in 2009 to 9.7 million in 2013. In terms of transaction value, payment cards valued KES1.5 trillion (US$18.5 billion) in 2013, after registering a significant review-period CAGR of 34.40%. The average transaction value (ATV) in Kenya was US$49.3 in 2013, which was the fourth-highest among its peer countries. Egypt recorded the highest ATV with US$97.7, followed by Morocco with US$94.3, South Africa with US$54.6, and Nigeria with US$38.4. In terms of card penetration, Kenya recorded 0.22 cards per inhabitant in 2013, while South Africa, Morocco, Nigeria and Egypt recorded respective amounts of 1.25, 0.33, 0.20 and 0.18. In terms of frequency of use, Kenya recorded 35.5 transactions per card in 2013, while South Africa, Morocco, Egypt and Nigeria recorded 38.2, 21.1, 15.7 and 12.0 respectively. The Kenyan prepaid market remains in its early stages fragmented and uneven, but growing quickly despite heavy competition from M-Pesa. To capture the untapped market, banks, card issuers and retailers are launching prepaid card variants. In October 2012, Kenyas largest retail chain, Nakumatt, launched the Nakumatt Global MasterCard Prepaid card, enabled with contactless technology. MasterCard collaborated with Nakumatts banking partners, Diamond Trust Bank (DTB) and Kenya Commercial Bank (KCB), as part of the launch, with both banks issuing prepaid cards to retail customers.
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AArkstore enterprise In July 2013, Visa launched the Mi-Card prepaid card in association with Mi-Fone and DTB, targeting smartphone users. In May 2014, the Kenyan Public Transport Industry announcement plans to introduce prepaid cards to pay for transport fares. The Kenyan cards and payments industry is highly mobile-driven, largely through M-Pesa. The business was initially established by DFID, the UKs Department for International Development, and Vodafone subsidiary Safaricom. The Central Bank of Kenya (CBK) also played a role in its development. Its strategy has been based on promoting the uptake of mobile-based financial services to the rural, unbanked population, indicating a clear economic rationale for the development of m-payments in Kenya and other countries. M-Pesa has already expanded in Kenya and other east African markets, and is banking on the economies becoming more closely integrated and payment volumes increasing.
Scope This report provides a comprehensive analysis of Kenya's cards and payments industry. It provides current values for Kenya's cards and payments industry for 2013, and forecast figures for 2018. It details the different economic, infrastructural and business drivers affecting Kenya's cards and payments industry. It outlines the current regulatory framework in the industry. It details the marketing strategies used by various banks and other institutions. It profiles the major banks in Kenya's cards and payments industry.
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Make strategic business decisions using top-level historic and forecast market data related to Kenya's cards and payments industry and each market within it. Understand the key market trends and growth opportunities in Kenya's cards and payments industry. Assess the competitive dynamics in Kenya's cards and payments industry.
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AArkstore enterprise Gain insights in to the marketing strategies used to sell various card types in Kenya. Gain insights into key regulations governing Kenya's cards and payments industry.
Key Highlights In terms of the number of cards in circulation, Kenyan payment cards (including debit, credit and charge cards) registered robust growth during the review period (20092013), recording a compound annual growth rate (CAGR) of 26.32% to increasing from 3.8 million cards in 2009 to 9.7 million in 2013. In terms of transaction value, payment cards valued KES1.5 trillion (US$18.5 billion) in 2013, after registering a significant review-period CAGR of 34.40%. The average transaction value (ATV) in Kenya was US$49.3 in 2013, which was the fourth-highest among its peer countries. Egypt recorded the highest ATV with US$97.7, followed by Morocco with US$94.3, South Africa with US$54.6, and Nigeria with US$38.4. In terms of card penetration, Kenya recorded 0.22 cards per inhabitant in 2013, while South Africa, Morocco, Nigeria and Egypt recorded respective amounts of 1.25, 0.33, 0.20 and 0.18. In terms of frequency of use, Kenya recorded 35.5 transactions per card in 2013, while South Africa, Morocco, Egypt and Nigeria recorded 38.2, 21.1, 15.7 and 12.0 respectively. The Kenyan prepaid market remains in its early stages fragmented and uneven, but growing quickly despite heavy competition from M-Pesa. To capture the untapped market, banks, card issuers and retailers are launching prepaid card variants. In October 2012, Kenyas largest retail chain, Nakumatt, launched the Nakumatt Global MasterCard Prepaid card, enabled with contactless technology. MasterCard collaborated with Nakumatts banking partners, Diamond Trust Bank (DTB) and Kenya Commercial Bank (KCB), as part of the launch, with both banks issuing prepaid cards to retail customers. In July 2013, Visa launched the Mi-Card prepaid card in association with Mi-Fone and DTB, targeting smartphone users. In May 2014, the Kenyan Public Transport Industry announcement plans to introduce prepaid cards to pay for transport fares. The Kenyan cards and payments industry is highly mobile-driven, largely through M-Pesa. The business was initially established by DFID, the UKs Department for International Development, and Vodafone subsidiary Safaricom. The Central Bank of Kenya (CBK) also played a role in its development. Its strategy has been based on promoting the uptake of mobile-based financial services to the rural, unbanked population, indicating a clear economic rationale for the development of m-payments in Kenya and other countries. M-Pesa has already expanded in Kenya and other east African markets, and is banking on the economies becoming more closely integrated and payment volumes increasing.
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Tables Of Contents 1 Key Facts and Top Events 2 Executive Summary 3 Payment Instruments 3.1 Current Payments Environment 3.2 Alternative Payment Instruments 3.2.1 M-Pesa 3.2.2 PayPal 3.2.3 Skrill 3.2.4 Click2Pay 3.2.5 Zap..
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AArkstore enterprise 3.2.6 ClickandBuy 3.2.7 eTranzact 3.2.8 Pesapal 3.2.9 iPay. 3.2.10 JamboPay 4 Market Attractiveness and Future Prospects of Cards and Payments 5 Analysis of Cards and Payments Industry Drivers 5.1 Demographic Drivers 5.2 Economic Drivers 5.3 Infrastructure Drivers 5.4 Business Drivers 6 Emerging Consumer Attitudes and Trends 6.1 Market Segmentation and Targeting 6.1.1 Consumer cards 6.1.2 Corporate cards 6.2 Travel Spending 6.2.1 Outbound trips volume and spending 6.2.2 Inbound trips volume and spending 7 Payment Cards 7.1 Payment Cards Instrument Analysis 7.1.1 Number of cards in circulation by card type 7.1.2 Transaction volume by card type
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AArkstore enterprise 7.1.3 Transaction value by card type 7.1.4 Personal vs commercial cards 8 Debit Cards 8.1 Debit Cards Market Analysis 8.1.1 Number of debit cards in circulation 8.1.2 Debit card transaction volume by channel 8.1.3 Debit card transaction value by channel 8.1.4 Number of debit cards in circulation by scheme 8.1.5 Debit cards transaction value by scheme 8.1.6 Debit cards issuers market shares 8.1.7 Debit cards comparison 9 Credit Cards 9.1 Credit Cards Market Analysis 9.1.1 Number of credit cards in circulation 9.1.2 Credit cards transaction volume by channel 9.1.3 Credit cards transaction value by channel 9.1.4 Number of credit cards in circulation by scheme 9.1.5 Credit cards transaction value by scheme 9.1.6 Credit cards issuers market share 9.1.7 Credit cards comparison 10 Charge Cards 10.1 Charge Cards Market Analysis
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AArkstore enterprise 10.1.1 Number of charge cards in circulation 10.1.2 Charge cards transaction volume by channel 10.1.3 Charge cards transaction value by channel 11 Commercial Cards 11.1 Commercial Cards Market Analysis 11.1.1 Number of commercial cards in circulation 11.1.2 Commercial cards transaction value 11.1.3 Commercial credit cards 11.1.4 Commercial charge cards 11.1.5 Commercial cards comparison 12 Regulations in the Cards and Payments Industry 12.1 Regulatory Framework 12.2 Anti-Money Laundering (AML) 12.3 Foreign Direct Investment (FDI) Regulations 13 Card Fraud Statistics 13.1 Card Fraud Analysis 14 Card Issuers 14.1 Equity Bank 14.2 Co-operative Bank of Kenya 14.3 Kenya Commercial Bank 14.4 Standard Chartered Bank Kenya 14.5 Barclays Bank Kenya
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AArkstore enterprise 15 Card Schemes 15.1 Visa 15.2 MasterCard 15.3 American Express 16 Prepaid Cards 16.1 Prepaid Cards Market Analysis 16.1.1 Number of prepaid cards in circulation 16.1.2 Prepaid cards transaction value 17 Appendix 17.1 Tables 17.2 Methodology 17.3 Contact Timetric 17.4 About Timetric 17.5 Timetrics Services 17.6 Definitions 17.7 Disclaimer
List Of Tables Table 1: Kenya Key Facts, 2013 Table 2: Kenya M-Pesa Revenue (KES Billion), FY 20102014 Table 3: Regional Benchmarking of Kenyan Payment Cards Instrument, 2013 Table 4: Cards for High-Income Customers
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AArkstore enterprise Table 5: Cards for Middle-Income Customers Table 6: Cards for Frequent Travelers Table 7: Cards for Corporate Customers Table 8: Regional Benchmarking of Kenyan Debit Cards, 2013 Table 9: Kenya Debit Cards Comparison and Key Features Table 10: Regional Benchmarking of Kenyan Credit Cards, 2013 Table 11: Kenya Gold Credit Cards Comparison and Key Features Table 12: Kenya Premium Credit Cards Comparison and Key Features Table 13: Regional Benchmarking of Kenyan Charge Cards, 2013 Table 14: Kenya Commercial Cards Comparison and Key Features Table 15: Kenya Market Entry Strategies of Foreign Banks Table 16: Regional Benchmarking of Kenyan Prepaid Cards, 2013 Table 17: Kenya Payment Instruments Transaction Value (KES Billion), 20092013 Table 18: Kenya Payment Instruments Transaction Value (US$ Billion), 20092013 Table 19: Kenya Payment Instruments Transaction Volume (Million), 20092013 Table 20: Kenya Number of Cards in Circulation by Card Type (Thousand), 20092018 Table 21: Kenya Transaction Volume by Card Type (Thousand), 20092018 Table 22: Kenya Transaction Value by Card Type (KES Billion), 20092018 Table 23: Kenya Transaction Value by Card Type (US$ Million), 20092018 Table 24: Kenya Personal and Commercial Cards Transaction Value (KES Billion), 20092018 Table 25: Kenya Personal and Commercial Cards Transaction Value (US$ Million), 20092018 Table 26: Kenya Number of Debit Cards in Circulation (Million), 20092018
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AArkstore enterprise Table 27: Kenya Debit Cards Total and Average Transaction Value by Channel, 20092018 Table 28: Kenya Debit Cards Total and Average Transaction Value by Channel, 20092018 Table 29: Kenya Number of Debit Cards in Circulation By Scheme (Thousand), 20092013 Table 30: Kenya Debit Cards Transaction Value By Scheme (KES Billion), 20092013 Table 31: Kenya Debit Cards Transaction Value By Scheme (US$ Billion), 20092013 Table 32: Kenya Debit Cards Transaction Value By Issuer (KES Billion), 20092013 Table 33: Kenya Debit Cards Transaction Value By Issuer (US$ Billion), 20092013 Table 34: Kenya Number of Credit Cards in Circulation (Thousand), 20092018 Table 35: Kenya Credit Cards Transaction Volume and Frequency by Channel, 20092018 Table 36: Kenya Credit Cards Total and Average Transaction Value by Channel, 20092018 Table 37: Kenya Credit Cards Total and Average Transaction Value by Channel, 20092018 Table 38: Kenya Number of Credit Cards in Circulation By Scheme (Thousand), 20092013 Table 39: Kenya Credit Cards Transaction Value By Scheme (KES Million), 20092013 Table 40: Kenya Credit Cards Transaction Value By Scheme (US$ Million), 20092013 Table 41: Kenya Credit Cards Transaction Value By Issuer (KES Million), 20092013 Table 42: Kenya Credit Cards Transaction Value By Issuer (US$ Million), 20092013 Table 43: Kenya Number of Charge Cards in Circulation (Thousand), 20092018 Table 44: Kenya Charge Cards Transaction Volume and Frequency by Channel, 20092018 Table 45: Kenya Charge Cards Total and Average Transaction Value by Channel, 20092018 Table 46: Kenya Charge Cards Total and Average Transaction Value by Channel, 20092018 Table 47: Kenya Number of Commercial Cards in Circulation (Thousand), 20092018 Table 48: Kenya Commercial Cards Transaction Value (KES Million), 20092018
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AArkstore enterprise Table 49: Kenya Commercial Cards Transaction Value (US$ Million), 20092018 Table 50: Kenya Commercial Credit Cards, 20092018 Table 51: Kenya Commercial Charge Cards, 20092018 Table 52: Kenya Card Fraud (KES Million), 20092013 Table 53: Kenya Card Fraud (US$ Million), 20092013 Table 54: Kenya Number of Prepaid Cards in Circulation (Thousand), 20092018 Table 55: Kenya Prepaid Cards Transaction Value (KES Million), 20092018 Table 56: Kenya Prepaid Cards Transaction Value (US$ Million), 20092018 Table 57: Key Definitions
List Of Figures Figure 1: Kenya Payment Instruments Shares by Transaction Value (%), 2009 and 2013 Figure 2: Kenya Payment Instruments Shares by Transaction Volume (%), 2009 and 2013 Figure 3: Kenya Payment Cards Transaction Value and Growth, 20092018 Figure 4: Kenya Total Population (Million) and Proportion Aged Over 65 Years, 20092018 Figure 5: Kenya Nominal GDP (US$ Billion) and Real GDP Growth Rate (%), 20092018 Figure 6: Kenya Volume of ATMs and Penetration, 20092018 Figure 7: Kenya Volume of POS Terminals and Penetration, 20092018 Figure 8: Kenya E-Commerce Value (KES Billion), 20092018 Figure 9: Kenya Cards and Payments Industry Segmentation by Card Type Figure 10: Kenya Outbound Trips Volume and Spending, 20092018 Figure 11: Kenya Inbound Trips Volume and Spending, 20092018
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AArkstore enterprise Figure 12: Kenya Card Shares In Terms of Numbers in Circulation (%), 20092018 Figure 13: Kenya Card Shares in Terms of Transaction Volume (%), 20092018 Figure 14: Kenya Card Shares in Terms of Transaction Value (%), 20092018 Figure 15: Kenya Personal and Commercial Cards, Transaction Value (KES Billion), 20092018 Figure 16: Kenya Number of Debit Cards in Circulation (Million), 20092018 Figure 17: Kenya Debit Cards Transaction Volume by Channel (Million), 20092018 Figure 18: Kenya Debit Cards Transaction Value by Channel (KES Billion), 20092018 Figure 19: Kenya Debit Cards Scheme Shares in Terms of Number of Cards in Circulation (%), 2013 Figure 20: Kenya Debit Cards Scheme Market Share in Terms of Transaction Value (%), 2013 Figure 21: Kenya Debit Cards Issuers Market Shares in Terms of Transaction Value (%), 2013 Figure 22: Kenya Number of Credit Cards in Circulation (Thousand), 20092018 Figure 23: Kenya Credit Cards Transaction Volume by Channel (Thousand), 20092018 Figure 24: Kenya Credit Cards Transaction Value by Channel (KES Billion), 20092018 Figure 25: Kenya Credit Card Scheme Market Shares in Terms of Number of Cards in Circulation (%), 2013 Figure 26: Kenya Credit Cards Scheme Market Shares in Terms of Transaction Value (%), 2013 Figure 27: Kenya Credit Cards Issuers Market Shares in Terms of Transaction Value (%), 2013 Figure 28: Kenya Number of Charge Cards in Circulation (Thousand), 20092018 Figure 29: Kenya Charge Cards Transaction Volume by Channel (Thousand), 20092018 Figure 30: Kenya Charge Cards Transaction Value by Channel (KES Million), 20092018 Figure 31: Kenya Number of Commercial Cards in Circulation (Thousand), 20092018 Figure 32: Kenya Commercial Cards Transaction Value (KES Million), 20092018 Figure 33: Kenya Shares of Various Types of Card Fraud in Terms of Transaction Value (%), 2009 and 2013
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AArkstore enterprise Figure 34: Kenya Number of Prepaid Cards in Circulation (Thousand), 20092018 Figure 35: Kenya Prepaid Cards Transaction Value (KES Million), 20092018
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