Noida, UP -- (SBWire) -- 12/26/2010 -- Payment card industry in Vietnam is world’s one of the most rapidly growing card markets, which has demonstrated stupendous growth during the past few years. Despite the growing acceptance of credit cards, debit cards will continue dominating the market during the forecast period as market for credit cards is very small. Rising banking penetration will lead to higher number of saving and current accounts, and thereby increase the usage of debit cards. According to our research report “Vietnam Plastic Card Market Forecast to 2013”, the market is expected to grow at CAGR of about 20% during 2010-2013. Debit cards with domestic acceptance will continue dominating the market.
Besides, as the government is focusing on payment of salaries of permanent employees through banks, rise in employment will also lead to higher number of payment cards, particularly debit cards. Vietnam’s payment card market is relatively small but one of the most dynamic markets in the world. Popularity of payment cards in Vietnam has soared significantly during the past couple of years. The cards are increasingly used in the number of shopping malls and various on-line portals that carry luxury or world-class brands of consumer goods.
Our report provides an extensive research and rational analysis along with reliable statistics of the payment cards (debit as well as credit cards) market in Vietnam. It contains detail analysis of emerging market trends, current developments, and competitive landscape to enable clients better understand the market situation. Considering the recent developments and shift in macroeconomic factors, the report also features future outlook of the payment card industry, which will help clients in taking more rational investment decisions.
Moreover, “Vietnam Plastic Card Market Forecast to 2013” lays special emphasis on the business profile of key players operating in the country. It has identified major players in each of the segments discussed in the report like debit cards, credit cards, etc. In addition, the report focuses on the technological developments in the payment card market and tries to answer the crucial questions that concern every investor or player looking to enter the market.
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RNCOS specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals study and analyze the industry and its various components, with comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the consultants in meeting their objectives in a cost-effective and timely manner.
Debit Cards to Dominate Vietnam Payment Card Market
With the rise in debit cards, the total number of payment cards is expected to grow at a CAGR of about 20% during 2010-2013, says RNCOS.