Abstract
Introduction
Payment Cards in Italy is an invaluable guide to a growing European card market. Created using a combination of secondary and primary research, this report provides statistics on market size competitor market shares and card acceptance. It also provides an overview of regulation, competitor activities and product innovation, it concludes with market forecasts and a SWOT analysis.
Scope
- The focus of the report is on consumer payment cards, as opposed to commercial products.
- Data and analysis provided on debit cards, credit cards and deferred debit and charge cards.
- The report parameters extend to issuance only. Merchant acquiring and card processing are not covered.
- Historic market data is presented 2001-2005, with forecast data presented to 2010. Competitor market shares are presented for 2005.
Report Highlights
Italy has a relatively low level of market penetration, having 0.9 cards per person at the end of 2005. In terms of market penetration, this ranks Italy fourteenth out of the 17 European countries examined. The low level of penetration indicates that the Italian market is not as mature as some and hence has the potential to grow at a quicker rate.
With an average of just nine transactions per card per year, it is clear that Italians do not use revolving credit cards frequently. Deferred debit and charge cards are used more often, with an average of 23 transactions per card per year, whilst pay now cards are the most frequently used type of payment card in Italy.
The number of POS terminals grew by a third between 2001 and 2004, by which time there were over one million terminals in Italy. This means that Italy has the third largest POS acceptance network in Europe, behind Spain and France. The population per POS ratio fell to 57 in 2004.
Reasons to Purchase
- Learn detailed information about the Italian payment card market, including card numbers broken down by type, transaction values and frequencies.
- Understand the structure of the Italian payment cards market, including the regulatory environment and its impact on the market.
- Access detailed forecasts to 2010, specifying card numbers, transaction values and transaction volumes, broken down by card type.
Table of Contents
- EXECUTIVE SUMMARY
- INTRODUCTION
- What is this report about?
- Scope of the report
- Structure of the report
- MARKET CONTEXT
- Country overview
- Demographics
- Economy
- The service sector dominates the Italian economy
- Italy has implemented structural changes to its economy
- Italy' s has experienced slow but steady economic growth
- Inflation
- Distribution of income (Gini coefficient)
- Market size
- Market penetration
- Cards in issue
- Number of transactions
- Frequency of use
- Value of card transactions
- Average transaction values
- Card acceptance
- POS statistics
- ATM statistics
- Market structure
- Retail banks
- Limited liability banks
- Co-operative banks
- Savings Banks
- The market is consolidating
- Retail banks
- Regulatory environment
- Regulatory bodies
- Banca d' Italia
- Banking associations
- Associazione Bancaria Italiana - ABI
- Associazone Casse di Risparmio Italiane - ACRI
- Banche Credito Cooperativo - BCC
- Other noteworthy associations
- Associazione Italiana del Credito al Consumo e Immobiliare - Assofin
- Credit bureaux
- EURISC - CRIF Credit Protection Bureau
- Recent regulatory developments
- Banks can now sell directly to consumers
- European Consumer Credit Directive
- Regulatory bodies
- Key issues
- Fraud and EMV
- Italy is lagging behind in the conversion to EMV
- SEPA
- Fraud and EMV
- Country overview
- COMPETITOR AND PRODUCT OVERVIEW
- Card scheme market shares
- Pay now cards
- Number of cards in issue
- Value of transacations
- Credit cards
- Number of cards in issue
- Value of transactions
- Deferred debit / charge cards
- Number of cards in issue
- Value of transactions
- Pay now cards
- Card issuer market shares
- Pay now cards
- Credit Cards
- Deferred debit and charge cards
- Competitor developments
- Market consolidation picks up pace in Italy
- UniCredito acquired HVB in one of Europe' s largest ever cross-border deals
- ABN Amro acquires controlling stake in Banca Antonveneta
- BBVA fails to buy out Banca Nazionale del Lavoro, Unipol steps in
- There have been rumours of a possible acquisition of CartaSi
- New foreign players have entered the Italian market
- MBNA
- Barclaycard
- Some players have also left the market
- Capital One leaves Italy due to changes in strategy
- San Paolo IMI has ended its partnership with Santander
- Recent alliances and partnerships
- American Express and CartaSi launch the Iconcard
- Market consolidation picks up pace in Italy
- Product analysis
- Revolving credit card products
- Annual fees are commonplace, and are on the front line in price competition
- APRs are typically 14 per cent to 19 per cent
- American Express has variable rates and fees
- Deferred debit and charge cards
- Product features
- Affinity and co-branded partnerships are a significant feature of the market
- A number of specialist consumer finance providers are entering this space
- Players who are active under their own brands
- Product innovation
- Bonus Intesa has launched a cash-back loyalty scheme
- Programs to encourage credit card use such as ' Project Weekend'
- New credit cards for car owners of Fiat, Lancia and Alfa Romeo
- Virtual credit card numbers have been developed to encourage online payments
- Targeting niche groups
- Revolving credit card products
- Card scheme market shares
- FORECASTING THE PAYMENT CARD MARKET IN ITALY
- Forecasting the pay now market
- Forecasting the credit card market
- Forecasting the deferred debit and charge card market
- SWOT Analysis
- Strengths
- Weaknesses
- Opportunities
- Threats
- APPENDIX
- Supplementary data
- Market context
- Definitions
- Affinity Card
- Credit Card
- Deferred debit/charge card
- EMV
- EPC
- ePurse
- Interchange
- Merchant Service Charge
- Pay now cards
- POS Terminal
- Research methodology
- Cards and Payments database
- Future readings
- Cards & Payments Team contact details
- How to contact experts in your industry
- List of Tables
- Table 1: Population distribution by age group in Italy, 2005
- Table 2: GDP per capita for selected European countries, 2005
- Table 3: Inflation rates in a number of major European markets, 2001 - 2005
- Table 4: Income distribution in Italy is about average
- Table 5: Italian banking market statistics, 2005
- Table 6: Rates and fees on a selection of Italian credit cards, December 2006
- Table 7: Rates and fees on a selection of Italian deferred debit and charge cards, December 2006
- Table 8: Affinity and co-branding partnerships in Italy, 2006
- Table 9: Datamonitor' s forecast of the pay now card market, 2006f-2010f
- Table 11: Datamonitor' s forecast of the credit card market, 2006f-2010f
- Table 10: Datamonitor' s forecast of the deferred debit / charge card market, 2006f-2010f
- Table 12: Population numbers and demographic splits in Italy and other major European countries, 2005
- Table 13: The percentage of people over the age of 20 in the major European countries, 2005
- Table 14: GDP at current prices across major European countries, 2005
- Table 15: Real GDP growth rates, 2001-2005
- Table 16: POS terminals and population per terminal in Italy, 2000-2004
- Table 17: ATMs and population per ATM in Italy, 2000-2004
- Table 18: Current relevant Datamonitor publications
- Table 19: Future relevant Datamonitor publications, 2006
- List of Figures
- Figure 1: Country overview of Italy, 2005
- Figure 2: Italy has the fourth largest population in Europe, 2006
- Figure 3: Italy is the fourth largest economy in Europe in terms of absolute GDP, 2005
- Figure 4: The service sector is the most important contributor to the Italian economy, 2005
- Figure 5: Italy' s economy is picking up pace again, 2001 - 2005
- Figure 6: Italy has less than the average European level of cards per capita, 2005
- Figure 7: Pay now cards dominate the payment card market in Italy, 2001 - 2005
- Figure 8: Pay now cards account for the largest share of total plastic card transactions, 2005
- Figure 9: Transactions per card per year has not grown, 2001 - 2005
- Figure 10: Pay now cards account for the majority of transaction value in Italy, 2001 - 2005
- Figure 11: Pay now cards have the highest average transaction value, 2001 - 2005
- Figure 12: The POS network in Italy has been steadily expanding, 2000 - 2004
- Figure 13: The Italian ATM network has grown slowly, 2000 - 2004
- Figure 14: The three pillars of Italian banking
- Figure 15: Consolidation of the Italian banking industry, 1998 - 2006
- Figure 16: Regulatory overview of Italy, 2006
- Figure 17: Maestro is the dominant payment scheme in Italy, 2001 - 2005
- Figure 18: Maestro accounts for the majority of pay now transaction value, 2001 - 2005
- Figure 19: Visa has grown in importance in the credit card market, 2001 - 2005
- Figure 20: Visa continues to dominate the credit card market by transaction value, 2001 - 2005
- Figure 21: Visa has the strongest presence in the deferred debit / charge card market, 2001 - 2005
- Figure 22: Visa is the dominant scheme for deferred debit / charge card products by transaction value 2001 - 2005
- Figure 23: Banco Posta is the leading pay now card issuer, 2005
- Figure 24: Findomestic is the largest Italian issuer of credit cards, 2005
- Figure 25: CartaSi is the biggest issuer of deferred debit and charge cards in Italy
- Figure 26: The pay now market will experience modest growth, 2005 - 2010f
- Figure 27: The credit card market is expected to grow strongly, 2005 - 2010f
- Figure 28: The deferred debit / charge card market is forecast to grow steadily, 2005 - 2010f
- Figure 29: SWOT analysis of the Italian payment cards market, 2005
- Figure 30: Datamonitor' s core consulting capabilities
- Supplementary data
