Philippines Cards and Payments - Opportunities and Risks to 2027

The publisher's ‘Philippines Cards and Payments - Opportunities and Risks to 2027' report provides detailed analysis of market trends in the Filipinos cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, mobile wallets, credit transfer, cards, and cheques during the review-period (2019-23e).

The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2023e-27). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together the publisher's research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.

This report provides top-level market analysis, information and insights into the Filipinos cards and payments industry, including:

• Current and forecast values for each market in the Filipinos cards and payments industry, including debit, credit and charge cards.
• Detailed insights into payment instruments including cash, mobile wallets, credit transfer, cards, and cheques. It also, includes an overview of the country's key alternative payment instruments.
• Ecommerce market analysis.
• Analysis of various market drivers and regulations governing the Filipinos cards and payments industry.
• Detailed analysis of strategies adopted by banks and other institutions to market debit, credit, and charge cards.
• Comprehensive analysis of consumer attitudes and buying preferences for cards.
• The competitive landscape of the Filipinos cards and payments industry.

Scope

• Contactless payments for public transport are gradually gaining traction in the country. In September 2022, the Department of Transportation and LANDBANK launched the Automated Fare Collection System across the urban public transportation systems of Central Luzon, Calabarzon, and Metro Cebu. This enables commuters to make contactless payments using debit cards, credit cards, and mobile wallets.
• In a country with a large unbanked population, the entry of digital-only banks will complement traditional banks in pushing banking and card penetration. This trend will boost electronic payments in the country. Recent digital-only bank launches include Maya Bank in April 2022; UnionDigital Bank in July 2022; and GOTyme in October 2022.
• Effective from February 10, 2023, the maximum interest rate banks can charge on credit card rollover balances was raised from 2% per month to 3%. Banks such as Metrobank, UnionBank, and China Bank have raised the interest rates on their credit cards as a result. Such changes will affect the credit card market. Credit and charge card payment value is set to rise by 8.5% in 2023 - slower than the 10.2% growth recorded in 2022. Meanwhile, the interest rate on credit card installment plans remains unchanged at 1% per month.

Reasons to Buy

• Make strategic business decisions, using top-level historic and forecast market data, related to the Filipinos cards and payments industry and each market within it.
• Understand the key market trends and growth opportunities in the Filipinos cards and payments industry.
• Assess the competitive dynamics in the Filipinos cards and payments industry.
• Gain insights into marketing strategies used for various card types in the Philippines.
• Gain insights into key regulations governing the Filipinos cards and payments industry.