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The Cards and Payments Industry in Nigeria: Emerging Trends and Opportunities to 2019

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Synopsis
 
 Timetric’s The Cards and Payments Industry in Nigeria: Emerging Trends and Opportunities to 2019 report provides detailed analysis of market trends in Nigerias cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including credit transfers, check payments and payment cards, during the review period (2010–2014).
 
 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 (2015–2019). It also offers information on the countrys competitive landscape, including 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 detailed regulatory policies and recent changes in regulatory structure.
 
 Summary
 
 Timetric’s The Cards and Payments Industry in Nigeria: Emerging Trends and Opportunities to 2019 report provides top-level market analysis, information and insights into Nigerias cards and payments industry, including:
 
 - Current and forecast values for each market in Nigerias cards and payments industry, including debit and credit cards.
 
 - Detailed insights into payment instruments including credit transfers, payment cards and checks. It also, includes an overview of the countrys key alternative payment instruments.
 
 - E-commerce market analysis.
 
 - Analysis of various market drivers and regulations governing Nigeriaa 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 of Nigerias cards and payments industry.
 
 Scope

 
 - This report provides a comprehensive analysis of Nigerias cards and payments industry.
 
 - It provides current values for Nigerias cards and payments industry for 2014, and forecast figures to 2019.
 
 - It details the different demographic, economic, infrastructural and business drivers affecting Nigerias 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 Nigerias cards and payments industry and each market within it.
 
 - Understand the key market trends and growth opportunities in Nigerias cards and payments industry.
 
 - Assess the competitive dynamics in Nigerias cards and payments industry.
 
 - Gain insights into marketing strategies used for various card types in Nigeria.
 
 - Gain insights into key regulations governing Nigerias cards and payments industry.
 
 Key Highlights
 
 - To limit the foreign exchange outflow from the country, in December 2015 the Central Bank of Nigeria (CBN) imposed a ban on the use of debit and credit cards abroad, and on transactions in foreign currencies. This prevented Nigerian customers from using cards to make purchases from overseas retailers, or from foreign e-commerce sites. However, following a severe consumer backlash, the ban was partially revoked in January 2016, with banks enabling consumers to use foreign exchange services with limits on transaction values. In January 2016, for instance, GTBank permitted customers to transfer foreign currency via online banking, its mobile app, or at any branch nationwide, subject to a daily limit of US$10,000 (NGN1.7 million). Similar restrictions were imposed by other banks, such as First Bank of Nigeria and Sterling Bank. This restriction is anticipated to slow payment card transaction volumes and values.
 
 - Following government measures to curb cash transactions and promote electronic payments, the CBN reduced the daily cash withdrawal limit from US$908.4 (NGN150,000) to US$363.4 (NGN60,000) from August 2015. Previously, the CBN imposed a surcharge of US$0.4 (NGN65) from fourth withdrawals from non-base-bank ATMs from September 2014. Enforcement of these regulations supports the government’s policy of making Nigeria a cashless society.
 
 - Contactless technology is gaining prominence in Nigeria. In May 2015, six banks – UBA, Access Bank, First Bank, Zenith Bank, Skye Bank and Diamond Bank – signed an agreement with payment solution provider Unified Payments to launch PayAttitude, to promote contactless payments in Nigeria. PayAttitude is a near-field technology (NFC)-enabled tag-based mobile payment solution that works with contactless POS terminals. UBA introduced debit cards in Nigeria in November 2015 enabled with NFC technology for use at contactless POS and ATM terminals.

 1 Definitions and Methodology
 1.1 Definitions
 1.2 Methodology
 2 Key Facts and Events
 3 Executive Summary
 4 Payment Instruments
 4.1 Current Payment Environment
 5 E-Commerce
 5.1 E-Commerce Market Analysis
 6 Alternative Payments
 6.1 Alternative Payment Instruments
 6.1.1 Paga
 6.1.2 eTranzact
 6.1.3 PayPal
 6.1.4 Chams Mobile
 6.1.5 Verve World
 7 Regulations in the Cards and Payments Industry
 7.1 Regulatory Framework
 7.1.1 Payment System Vision 2020 (PSV2020)
 7.1.2 Regulations on credit cards
 7.1.3 Anti-money laundering (AML) measures
 7.2 Foreign Direct Investment (FDI) Regulations
 8 Analysis of Cards and Payments Industry Drivers
 8.1 Demographic Drivers
 8.2 Economic Drivers
 8.3 Infrastructure Drivers
 8.4 Business Drivers
 9 Market Segmentation and New Product Launches
 9.1 Market Segmentation and Targeting
 9.1.1 Consumer cards
 9.1.2 Commercial cards
 9.2 New Product Launches
 10 Payment Cards
 10.1 Payment Cards Analysis
 10.1.1 Volume and value of payment card transactions by type
 10.1.2 Personal vs commercial cards
 11 Debit Cards
 11.1 Debit Card Market Analysis
 11.1.1 Debit card transaction volumes and values by channel
 11.1.2 Debit card scheme and issuer shares in terms of transaction value
 11.1.3 Debit cards comparison
 12 Credit Cards
 12.1 Credit Card Market Analysis
 12.1.1 Credit card transaction volumes and values by channel
 12.1.2 Credit card scheme and issuer shares in terms of transaction value
 12.1.3 Credit cards comparison
 13 Commercial Cards
 13.1 Commercial Card Market Analysis
 13.1.1 Commercial cards comparison
 14 Card Issuers
 14.1 United Bank of Africa
 14.2 First Bank
 14.3 Access Bank
 14.4 GTBank
 14.5 Ecobank
 15 Appendix
 15.1 Tables
 15.2 Contact Timetric
 15.3 About Timetric
 15.4 Timetrics Services
 15.5 Disclaimer


List Of Tables

 Table 1: Key Definitions
 Table 2: Annual Average Exchange Rate
 Table 3: Nigeria - Key Facts, 2014
 Table 4: Regional Benchmarking of Nigerian Payment Cards, 2014
 Table 5: Nigeria - Mode of Entry of Foreign Banks
 Table 6: Cards for High-Income Consumers, 2016
 Table 7: Cards for Students and Young Population, 2016
 Table 8: Cards for Shoppers, 2016
 Table 9: Commercial Cards Comparison and Key Features, 2016
 Table 10: Nigeria - New Product Launches
 Table 11: Nigeria - Debit Cards Comparison and Key Features, 2016
 Table 12: Nigeria - Gold Credit Cards Comparison and Key Features, 2016
 Table 13: Nigeria - Premium Credit Cards Comparison and Key Features, 2016
 Table 14: Nigeria - Commercial Cards Comparison and Key Features, 2016
 Table 15: Nigeria - Payment Instrument Transaction Values (NGN Trillion), 2010-2014
 Table 16: Nigeria - Payment Instrument Transaction Values (US$ Billion), 2010-2014
 Table 17: Nigeria - Payment Instrument Transaction Volumes (Million), 2010-2014
 Table 18: Nigeria - Number of Payment Cards in Circulation by Type (Million), 2010-2019
 Table 19: Nigeria - Volume of Payment Card Transactions by Type (Million), 2010-2019
 Table 20: Nigeria - Value of Payment Card Transactions by Type (NGN Billion), 2010-2019
 Table 21: Nigeria - Value of Payment Card Transactions by Type (US$ Billion), 2010-2019
 Table 22: Nigeria - Personal and Commercial Card Transaction Volumes (Million), 2010-2019
 Table 23: Nigeria - Personal and Commercial Card Transaction Values (NGN Billion), 2010-2019
 Table 24: Nigeria - Personal and Commercial Card Transaction Values (US$ Million), 2010-2019
 Table 25: Nigeria - Number of Debit Cards in Circulation (Million), 2010-2019
 Table 26: Nigeria - Debit Card Transaction Volumes and Frequency by Channel, 2010-2019
 Table 27: Nigeria - Debit Card Total and Average Transaction Values by Channel, 2010-2019
 Table 28: Nigeria - Debit Card Total and Average Transaction Values by Channel, 2010-2019
 Table 29: Nigeria - Number of Debit Cards in Circulation by Scheme (Million), 2010-2014
 Table 30: Nigeria - Debit Card Transaction Values by Scheme (NGN Billion), 2010-2014
 Table 31: Nigeria - Debit Card Transaction Values by Scheme (US$ Billion), 2010-2014
 Table 32: Nigeria - Debit Card Transaction Values by Issuer (NGN Billion), 2010-2014
 Table 33: Nigeria - Debit Card Transaction Values by Issuer (US$ Billion), 2010-2014
 Table 34: Nigeria - Number of Credit Cards in Circulation (Million), 2010-2019
 Table 35: Nigeria - Credit Card Transaction Volumes and Frequency by Channel, 2010-2019
 Table 36: Nigeria - Credit Card Total and Average Transaction Values by Channel, 2010-2019
 Table 37: Nigeria - Credit Card Total and Average Transaction Values by Channel, 2010-2019
 Table 38: Nigeria - Number of Credit Cards in Circulation by Scheme (Thousand), 2010-2014
 Table 39: Nigeria - Credit Card Transaction Values by Scheme (NGN Billion), 2010-2014
 Table 40: Nigeria - Credit Card Transaction Values by Scheme (US$ Million), 2010-2014
 Table 41: Nigeria - Credit Card Transaction Values by Issuer (NGN Billion), 2010-2014
 Table 42: Nigeria - Credit Card Transaction Values by Issuer (US$ Million), 2010-2014
 Table 43: Nigeria - Number of Commercial Cards in Circulation (Thousand), 2010-2019
 Table 44: Nigeria - Commercial Cards Transaction Values (NGN Billion), 2010-2019
 Table 45: Nigeria - Commercial Cards Transaction Values (US$ Million), 2010-2019


List Of Figures

 Figure 1: Nigeria - Payment Instrument Shares by Transaction Value (%), 2010 vs 2014
 Figure 2: Nigeria - Payment Instrument Shares by Transaction Volume (%), 2010 and 2014
 Figure 3: Nigeria - E-Commerce Value (US$ Billion) and Payment Types (%)
 Figure 4: Nigeria - Total Population and Structure
 Figure 5: Nigeria - Economic Indicators
 Figure 6: Nigeria - Number of ATMs and POS Terminals
 Figure 7: Nigeria - Real Household Consumption Expenditure
 Figure 8: Nigeria - Segmentation by Card Type
 Figure 9: Nigeria - Growth in Payment Card Transaction Values and Number of Cards in Circulation by Type, 2010-2019
 Figure 10: Nigeria - Volume and Value of Payment Card Transactions by Type (%), 2010-2019
 Figure 11: Nigeria - Personal and Commercial Card, Transaction Volumes and Values (%), 2010-2019
 Figure 12: Nigeria - Growth in Debit Card Transaction Values and Number of Debit Cards in Circulation, 2010-2019
 Figure 13: Nigeria - Debit Card Transaction Volumes and Values by Channel, 2010-2019
 Figure 14: Nigeria - Debit Card Scheme and Issuer Shares in Terms of Transaction Value (%), 2014
 Figure 15: Nigeria - Growth in Credit Card Transaction Values and Number of Credit Cards in Circulation, 2010-2019
 Figure 16: Nigeria - Credit Card Transaction Volumes and Values by Channel, 2010-2019
 Figure 17: Nigeria - Credit Card Scheme and Issuer Shares in Terms of Transaction Value (%), 2014


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Reports Details

Published Date : Apr 2016
No. of Pages :56
Country :Nigeria
Category :Finance and Banking
Publisher :Timetric
Report Delivery By :Email
Report Delivery Time :12 to 24 hours after placing the order.

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