Latvias Cards And Payments Industry:-
The Republic of Latvia is an open economy where exports contribute for almost one-third of the GDP. Latvia is a member of the United Nations (UN), European Union (EU) and International Monetary Fund (IMF). Latvia’s economy was adversely affected by the eurozone crisis in 2009. While cash remains the dominant method of payment in Latvia, there have been concerted efforts from card issuers, the government and regulatory bodies to support card use. The nation’s debit, prepaid and charge card categories have expanded rapidly. A large part of this growth has been driven by infrastructure improvements such as contactless technology and increased adoption of smartphones. All these factors have made payment cards far more accessible, resulting in moderate growth for the card payments channel.
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Kazakhstans Cards And Payments Industry:-
Kazakhstan’s card payments channel demonstrated robust growth during the review period. Improved banking infrastructure, consumers’ shift towards card-based payments and adoption of new technology to offer safe and secure banking contributed to the growth of the channel during the review period. The card payments channel grew from 7.2 million cards in 2008 to 11.9 million in 2012, at a CAGR of 13.38%. Over the forecast period, the total number of cards is projected to grow from 13.9 million to 17.9 million, at a CAGR of 6.55%. In terms of transaction value, the overall card payments channel grew at a CAGR of 25.43% during the review period, and is projected to grow from KZT7.0 trillion (US$47.7 billion) in 2013 to KZT10.4 trillion (US$70.6 billion) in 2017 at a CAGR of 10.28% over the forecast period.
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Philippines Cards And Payments Industry:-
Steady growth was recorded in the Filipino card payments channel during the review period (2008–2012), as the number of cards in circulation increased at a CAGR of 7.65%, rising from 40.8 million in 2008 to 54.8 million in 2012. This growth was primarily driven by the prepaid cards category which registered the highest growth rate at a CAGR of 17.26%. Over the forecast period (2013–2017), the number of cards in circulation is expected to increase from 58.1 million in 2013 to 72.9 million in 2017, after registering a CAGR of 5.84%.
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