Payment Cards in Ireland 2006

Publication Date	October 2006
Publisher	Datamonitor
Product Type	Report
Pages	72
ISBN Number	not applicable
Product Code	DAT04185

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Summary

Introduction

Payment Cards in Ireland is an invaluable guide to a key 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 card issuance only. Merchant acquiring and card processing are not covered.
Historic market data is presented for 2001-2005, with forecast data presented to 2010. Competitor shares for card issuers are presented for 2005.

Highlights

Overall, the payment card market has enjoyed strong growth over the last five years in Ireland; this is particularly true of the pay now market. Card issuance in the pay now market has grown at a annual average growth rate of 10.3 per cent compared to 8.5 per cent in the pay later market.

In March 2006 the EPC published revised version of Cards Framework, which sets out the rules needed for the implementation of a Single Euro Payments Area. As a result, the main issue for Ireland is its domestic debit scheme Laser and the need for the Laser cards to have the ability to be accepted abroad.

Like many other European countries, Ireland is migrating to EMV in order to combat fraud. At the beginning of 2006 nearly all of 3.4 million cards and almost all of the ATMs in Ireland have been migrated to EMV enabled technology.

Reasons to Purchase

Learn how the Irish consumer payment card market has developed over the last five years.
Understand recent developments in the market in terms of consolidation, new entrants and product innovations.
Find out our opinion on the future growth rate of the Irish payment card markets including debit, credit, deferred debit and charge.

Content

Chapter 1 Executive Summary
Chapter 2 Introduction
- What is this report about?
- Scope of the report
- Structure of report
Chapter 3 Market Context
- Introduction
- Country overview
- Demographics
- Economy
- GDP
- Sectoral composition of the economy
- Inflation
- Distribution of income (GINI Coefficient)
- Unemployment
- Market size
- Cards in issue
- Number of transactions
- Frequency of use
- Value of card transactions
- Average transaction values
- Balances outstanding
- Card acceptance
- POS statistics
- ATM statistics
- Market structure
- Commercial banks
- Building societies
- Regulatory environment
- Industry regulators
- Central Bank and Financial Services Authority of Ireland (CBFSAI)
- Industry associations
- Irish Bankers' Federation (IBF)
- Irish Payment Services Organisation (IPSO)
- Other noteworthy organizations
- Irish Bank Officials Association (IBOA)
- Credit bureaux
- Irish Credit Bureau (ICB)
- Experian
- Regulatory issues
- European consumer credit Directive
- Stamp duty on payment cards
- Consumer Protection Code
- SEPA
- Fraud and EMV
Chapter 4 Competitor And Product Overview
- Introduction
- Card scheme market shares
- Pay now cards
- Credit cards
- Cards in issue
- Value of transactions
- Charge and deferred debit cards
- Cards in issue
- Value of transactions
- Card issuer market shares
- Debit cards
- Cards in issue
- Credit cards
- Cards in issue
- Balances outstanding
- Competitor developments
- Consolidation of the Irish market
- Some domestic banks have looked outside Ireland for expansion
- New entrants
- Product analysis
- Credit design
- Credit card features and fees vary according to the card issuer
- Some banks offer free insurance products with their cards
- Card issuers offer innovative incentive programs to promote their cards
- Loyalty programs
- Points-based loyalty program
- Cashback loyalty program
- Cards linked to airline reward program
- Product innovation
- AIB offers a 'be' MasterCard/Visa card, which rewards customers who use their card
Chapter 5 Forecasting The Payment Card Market In Ireland
- Introduction
- Forecasting the pay now card market
- Forecasting the credit card market
- Forecasting the charge card market
- SWOT analysis
- Strengths
- Weaknesses
- Opportunities
- Threats
Chapter 6 Appendix
- Introduction
- Supplementary data
- Market context
- Forecasting the payment card market in Ireland
- Definitions
- AAGR
- CAGR
- Charge card
- Contactless payment
- Credit card
- EMV
- Pay now cards
- Pay later cards
- POS terminal
- Pre-paid cards
- Premium cards
- Research methodology
- Cards and Payments database
- Future readings
- Future publications
- Relevant links
- Datamonitor's custom research capabilities
- Cards & Payments Team contact details
- How to contact experts in your industry
List of Tables
- Table 1: GDP per capita for selected European countries, 2005
- Table 2: The inflation rate in Ireland fell from a peak of 4.7 per cent in 2002 to 2.2 per cent in 2005, 2001-2005
- Table 3: GINI Coefficient for selected European countries
- Table 4: Interest rates, annual fees and interest free period on selected credit cards, 2006
- Table 5: Datamonitor's forecast for the pay now card market, 2006-2010f
- Table 6: Datamonitor's forecast for the credit card market, 2006-2010f
- Table 7: Datamonitor's forecast for the charge card market, 2006-2010f
- Table 8: Population numbers and demographic splits in Ireland and other major European countries, 2005
- Table 9: The percentage of people over the age of 20 in the major European countries, 2005
- Table 10: Unemployment rate in Ireland, 2001-2005
- Table 11: Irish POS statistics and POS terminals per capita, 2000-2004
- Table 12: Irish ATM statistics and ATM terminals per capita, 2000-2004
- Table 13: Credit card balances outstanding, 2001-2005
- Table 14: Pay now card forecasts indexed to 2005
- Table 15: Credit card forecasts indexed to 2005
- Table 16: Charge card forecasts indexed to 2005
- Table 17: Current relevant Datamonitor publications, 2006
- Table 18: Future relevant Datamonitor publications, 2006
List of Figures
- Figure 1: Overview of Ireland, 2005
- Figure 2: Ireland has one of the smallest populations in Europe, 2005
- Figure 3: Ireland has the smallest economy among the sample of European countries shown, 2005
- Figure 4: Services and agricultural sectors are the major contributors to Ireland's GDP, 2002
- Figure 5: The rate unemployment in Ireland is low when compared to the Western European average, 1998-2005
- Figure 6: In terms of card numbers, pay later cards are becoming increasingly dominant, 2001-2005
- Figure 7: Pay now cards dominate in terms of transaction numbers, 2001-2005
- Figure 8: Pay now cards are used much more frequently than pay later products, 2001-2005
- Figure 9: The value of credit card transactions is growing ever more quickly, 2001-2005
- Figure 10: Average transaction values are highest on credit cards, 2001-2005
- Figure 11: Credit card balances outstanding, 2001-2005
- Figure 12: POS terminal network in Ireland, 2000-2004
- Figure 13: ATM network in Ireland, 2000-2004
- Figure 14: Regulatory overview of Ireland, 2006
- Figure 15: Visa is dominant scheme in terms of credit card numbers, 2001-2005
- Figure 16: Visa is the leader in terms of value of transactions
- Figure 17: Visa dominates the charge card market in Ireland, 2001-2005
- Figure 18: Visa also dominates charge card spend, 2001-2005
- Figure 19: Allied Irish Bank dominates the pay now market, 2005
- Figure 20: Allied Irish Bank dominates the credit card market in terms of cards in issue, 2005
- Figure 21: Allied Irish Bank is also the leading credit card issuer in terms of balances outstanding, 2005
- Figure 22: Mergers and acquisitions in the Irish banking market, 1998-2005
- Figure 23: Examples of credit cards linked to reward programs in the Irish market, 2006
- Figure 24: Increased card usage and spend will drive the pay now market, 2006-2010f
- Figure 25: Increased card usage will drive the credit card market, 2006-2010f
- Figure 26: The charge card market is expected to decline, 2006-2010f
- Figure 27: SWOT analysis of the Irish payment market, 2006
- Figure 28: Datamonitor's core consulting capabilities