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Product coverage
Consumer lending; Financial cards and payments
Executive summary
Solid Growth for Debit Cards
Debit card growth has continued to perform extraordinarily well in the South
African market, especially when compared to credit-related financial cards.
The debit function has been fairly under-utilised in recent years, but as
perceptions around ease-of-use have changed, the sector has grown rapidly. A
multifunctional debit card is the standard card issued when South Africans
open any bank account. This combined with increased POS infrastructure, a gain
in confidence, and general exposure has led to increased frequency of debit
card payment. As debit cards make up the majority of cards on the market it is
no surprise that there have been such large absolute volume increases in the
sector. This trend is also partially helped by crime in the country as
citizens generally feel unsafe carrying cash in major cities.
Gearing Up for 2010
Technological improvements in financial card systems and infrastructure have
been accelerated in preparation for the 2010 FIFA World Cup. South Africa, as
part of its hosting mandate, is expected to fall in line with Western
financial card standards but still lacks a number of functionalities. These
range from payment structures such as credit card acceptance at petrol
stations, to superior technologies such as contactless smart cards and
improved POS terminals. However, there is currently an effort by leading
institutions and the government, to lay the foundation plans for a complete
revamp before hosting a major event. It is therefore likely that financial
card infrastructure, functionality and payment systems will be completely
overhauled in the next two years.
Cashless Transactions Grow
Cashless transactions have grown tremendously over the review period. As
infrastructure and technology grows around the country, consumers are becoming
more aware of the potential of their financial cards for cashless
transactions. Cashless culture is well developed in Western countries but it
seems that South Africa lags behind the trend. Previously, South African
consumers seemed to lack confidence in using their debit and credit cards in
cashless transactions. However, through education, exposure and practice,
South African consumers' confidence to use a financial cards, rather than
cash, has significantly changed in the last few years.
Gift Card Explosion
Gift cards witnessed explosive growth in 2008. Although the vast majority are
retail store-related closed-loop cards, there are also MasterCard-backed
open-loop cards which are predominantly being utilised by shopping centre
networks. Among the most popular are the Edcon and Woolworths cards, which are
primarily clothing-related. The success of gift cards has sparked interest in
pre-paid applications in other areas, specifically in the public transport
sector.
Credit-Related Cards Slow
As the global credit crunch continues to impact emerging markets, through
limiting consumer access to credit, credit-related financial cards have also
felt the adverse consequences of this economic slowdown. In South Africa, this
has been compounded by the new national credit act and the tightening of
credit-related facilities. It is likely based on global trends and predictions
that this market will continue to produce poor results until the global
economic recession has passed.
KEY TRENDS AND DEVELOPMENTS
Cashless Culture Matures
As an emerging market, South Africa does not yet have the same philosophies
and social habits with regard to cashless transactions as Western countries.
However, over the review period, South Africa has experienced a huge
transition in payment culture among the middle- and upper-income groups, which
has ultimately led to a more mature market and increased cashless transactions.
Current Impact
The impact of cashless culture can be seen throughout the entire financial
cards industry in South Africa. The convenience factor, along with expanded
payment infrastructure and technology are ultimately the driving force behind
consumers switching to more cashless transactions. Furthermore in South
Africa, market penetration, financial card education and exposure, and the
high crime rate have all played a significant part in the market' s growth.
Industry players have been able to expand infrastructure networks and their
consumer base to all parts of the country including the more rural, poorer
areas. The South African consumer has responded well to exposure to technology
and cards, and gained immense confidence in using financial cards, of all
forms, for a variety of transactions. Over the review period, financial card
transaction volumes and values have sky-rocketed. The levels of transactions,
infrastructure and absolute growth are unprecedented in relation to the
African continent. However, in global terms, South Africa is just following
the general trend and still has a long way to go before it is considered a
mature financial card market.
Outlook
The cashless culture is continuing to integrate itself into the South African
market. The outlook is of course positive for the financial cards industry and
consumers alike. With an increasing cashless culture, players and institutions
involved in the industry will be able to focus on new products and services,
as well is improving existing structures. Of course, the revenue generated by
an increase in cashless transactions is also a substantial positive for
players in the industry. For the consumer, further development of
infrastructure and multifunctional cards means more convenience. It is also
likely that as the market becomes larger, more players may enter, increasing
competition, which in turn will lower the cost of financial card fees. Even
outside the financial cards industry, the spin-offs are fantastic for a number
of industries and of course if one were to look solely at convenient payments
the economy would greatly benefit from increased cashless culture. The only
people, it seems, that would not benefit from cashless transactions are the
ones who do not have financial cards.
Future Impact
If South Africa continues along this road of solid growth and follows the
trends occurring within Western culture, the future holds even more
opportunity for the financial cards industry. South Africa may move away from
its largely cash-based economic model and turn to the convenience financial
cards provide. Furthermore, if companies exploit the opportunities in the
market, payment infrastructure and technology will continue to improve, POS
terminals will increase, card functionality will increase and of course
further growth will be experienced in the market. However, it should be noted,
that the South African market remains largely untapped and that the increasing
cashless culture is predominantly among the middle- and upper-income groups.
The market will still take many years to mature to the standards of Western
countries. Either way, companies involved in the market will benefit, the
economy and the government running it will certainly benefit, and of course
last but not least, consumers will benefit. Cashless transactions offer a lot
of opportunity in the country and the future impact of this trend is certainly
optimistic.
Technology Collaboration
In July 2010, South Africa hosts the FIFA World Cup. Due to the sheer size of
the event and volume of fans that will attend, South Africa has had to
extensively upgrade infrastructure in many spheres of the country, including
payment and card infrastructure. The goal is to boost South Africa to Western
standards, with advanced technologies (e.g. contactless smart cards) which
would have otherwise taken a longer time in being introduced to the market.
Current Impact
It seems that nearly all major players, organisations and stakeholders have
enthusiastically accepted the challenge of getting South Africa on track to
host this prestigious event. The "big four" banks in a joint initiative with
the government and payment associations are spearheading the drive and appear
to be committing substantial resources in order to streamline the process. At
the time of writing, nearly all plans had been finalised and implementation
was in its infancy stage. The major payment associations along with the
relevant institutions involved are really excited about the prospects of these
new technologies. Most of them have already started planning their offerings
and are gearing up to accept these technologies with open arms. It is
interesting to note that by being given an ultimatum, these companies and the
government have worked more effectively together than previously thought
possible.
Outlook
Whether organisations involved are able to meet their mandate by the time of
the 2010 FIFA World Cup is a matter of much debate. At present, they have
streamlined processes that would have otherwise taken months or even years, to
effectively a few weeks. If this is the precedent set for the rest of the
implementation programme, it is certainly likely that they will meet their
required deadline. The question remains whether they will be able to have
fully implemented these new technologies and tested them within the next year
and a half. Ultimately, they must achieve this goal, but in the unlikely event
that they should fail, they would have already made a huge step towards having
better technologies in the country and South Africa will benefit from this
well into the future.
Future Impact
The future impact of these technologies is certainly an exciting prospect.
South Africa will fall in line with all Western payment standards and could be
one step closer to being classified as a developed market. The financial cards
industry ultimately revolves around ease-of-payment and streamlining of
payment structures. The better the technology the easier it is to pay, thereby
adding significant intrinsic value and potential to the financial cards
industry. Another spin-off that new technologies will have on the financial
cards market relates to crime and card fraud. As these new systems and cards
are introduced, it will be much harder to commit card fraud and related crimes
and it is likely that these figures, which are currently phenomenally high,
will diminish on introduction.
Continued Domination by the Big Four Banks
The "big four" is the name given to the conglomerate of the four major banks
in the country: Amalgamated Banks of South Africa Ltd (ABSA), First National
Bank Ltd (FNB), Nedbank Ltd, and Standard Bank of South Africa Ltd (Standard
Bank). These four banks represent almost the entire financial cards market in
South Africa.
Current Impact
Due to the lack of other major participants in the market, they have the
ability to influence any aspect of the market they choose. There have been
continual complaints over the review period with regard to the exorbitant fees
and charges that consumers pay for retail banking services. The Competition
Commission, a neutral government-funded organisation that looks into unfair
competition practices, held a major enquiry into the South African banking
market and it was established that the market needed some reform in terms of
price setting. However, not only are the big four banks well established, but
none of the smaller banks in the country even compare in terms of available
capital and market capitalisation.
Outlook
It would be extremely hard for any company to enter the South African retail
banking environment. Firstly, the capital outlay required remains the primary
barrier to entry. Secondly, all aspects of the market including the ever
important consumer base, has already been snapped up by one of the big four
banks. The outlook certainly does not look good for consumers as thanks to the
level of competition in the market, they have to pay more in terms of fees and
charges than nearly any other country in the world. Conversely, the outlook
for the banks is wholly positive. They are in a position where they can make
extremely good margins in the South African market. It could be said however,
that the exorbitant fees that the banks charge with regard to financial cards,
inhibits the market to a certain extent. However, as there are no other retail
banks in the country that offer the same facilities, South African consumers
have no choice but to pay.
Future Impact
It is likely that at some point in the future there must be some form of
government intervention if the market is to be free and fair. However, it is
unlikely that this will happen any time soon. The future impact of this
oligopoly is certainly negative for the financial cards market as it will
inhibit market growth in the long term. Furthermore, the typical South African
consumer is starting to lose faith in the retail banks altogether. Although,
they have no choice but to continue using their financial cards, they are
starting to do so unwillingly, and this will detract from cashless culture in
general. If the banks were to lower their charges in line with Western
standards, the financial cards industry would certainly benefit from increased
consumer confidence. The Competition Commission' s suggestion was that an
intermediary body should be created in order to control the levels of profit
that banks may make from their customers. It is unlikely as the country
prepares for 2010 that this will happen as it will only slow down progress.
Bankserv, MasterCard and Visa
The operating environment in South Africa is fairly interesting as most people
in the country think that the market is dominated by MasterCard and Visa.
However, Bankserv is the dominant operator in the country and holds a near
monopoly on the South African market. MasterCard and Visa, although branded on
the vast majority of financial cards, represent a near insignificant
proportion of the total operating value, and function predominantly as card
associations in South Africa.
Current Impact
Bankserv is an automated clearing house that provides interbank electronic
transaction switching and settlement services. The company was started in 1993
and is the result of consolidation by a number of bank operators in the
country. It operates close on 90% of all ATM, POS and interbank transfers in
the country. The company was originally started by the big four banks with the
strategy to maintain a hold on the South African operating environment.
Bankserv is licensed by PASA (Payments Association of South Africa) and
together they are largely responsible for the growth of payment infrastructure
in the country. Unfortunately for MasterCard and Visa, it has been very hard
to gain a foothold market, as the big four banks wholly own Bankserv and
obviously have a major interest in ensuring the company' s dominance of the
operating environment. However, MasterCard and Visa are definitely growing in
share in the country, as some of the other banks, as well as the big four
banks, are starting to use them for certain card products.
Outlook
It is unlikely that MasterCard and Visa will ever dominate the South African
market as they do in other countries but all is not lost for these two global
giants. They are still necessary in order to give financial cards, issued by
South African banks, credibility through international acceptance. Both
companies are still prominent in the country and have much to compete for as
the only two card associations in the country. Furthermore, they are starting
to operate various segments within the "big four" and slowly but surely are
gaining market share in South Africa. Therefore, one could see such growth as
positive but with such a minimal starting base in absolute terms they still
hold a very small proportion of the South African market. Bankserv, although
having lost a small proportion of its market share to these global giants,
still completely dominates the market. However, with this being the case, and
ownership of Bankserv by the "big four", the only people who lose out at
present are the South African consumers. As the market is fairly monopolistic,
Bankserv is able to charge exorbitant fees for switches, transfers, ATM usage
and POS transactions.
Future Impact
The future impact of Bankserv domination is not fully clear as there are a
number of changes going on in the company. Firstly, Bankserv has decided to
move its equity base from the big four banks to private shareholders. This
intrinsically means that the banks will not have the same interest in the
operations of the company (at least not to the same extent), and it might open
up competition in the operating environment. MasterCard and Visa, regardless,
are likely to grow in the South African market over the next few years. These
operating juggernauts are likely to gain market share if the banks do not have
as much of an interest in the operating environment. This would change the
entire dynamic of the South African operating environment, in that it would
lose its monopolistic edge. This would be good for the entire financial cards
industry, as fees would become more competitive with lower prices and the
market would become more diversified. Ultimately it would be the consumers
that benefited the most from increased competition in the operating
environment. With the number of different players, companies would have to
provide both premium services and lower fees which will entice consumers to
make more card transactions and increase cashless culture.
Lifestyle Cards
Financial cards are starting to transcend from being purely functional to
becoming fashionable accessories. No longer are institutions merely selling
you product; they are selling you a lifestyle. The financial card one carries
has to reflect both the institution and the customer, giving the latter a
feeling of security, professionalism, and above all, status. Therefore, the
literal face of financial cards has changed significantly in recent years, not
only in South Africa but as part of an ongoing, evolving global trend that has
added an interesting dynamic to cashless culture.
Current Impact
If one were to look at financial cards in South Africa a few years ago, there
would certainly be a feeling of blandness or conservatism when compared to
some of the more recent financial cards on the market. No longer can companies
get away with a purely functional card. Although previously, cards were not
exactly distasteful, they were certainly not as aesthetically pleasing as some
of the financial cards currently on the market. These days, companies take a
lot more care with their cards as this represents an institution' s brand
image. Cards have become sleeker, more colourful and representative of various
themes. South African institutions have become much more aware of what it is
to sell a complete lifestyle package. Furthermore, changing the style of the
card, allows companies to target certain segments of the market. For example,
Virgin Money issues colourful cards with the slogans "Bling" or "Use me"
printed in large shiny letters. This would not be aimed at the corporate
executive but rather the younger target market that Virgin seeks to attract.
Interestingly, companies that seem to have made the biggest impact in this
regard are not necessarily banks. Co-branded credit cards and gift cards seem
to be among the most unique in terms of aesthetics and design.
Outlook
Certain cards and companies have already set the standard in making their
cards both trendy and appealing, and it has certainly made a difference to
their sales. Many consumers, particularly in the big cities, want to be seen
as fashionable and want to show off their status. Having a certain brand of
credit card, for example, has become similar to owning a new stylish car.
Again, this trend appeals far more to younger generations than it does to
older professionals who are in general more conservative. Companies that seem
to be leading the way in terms of aesthetic cards geared towards youth include
Virgin Money, Woolworths, Kulula and Musica. However this is not to say that
banks are not bringing out aesthetically pleasing cards as well. All the banks
(chiefly the big four) are starting to customise their cards depending on what
accounts are being opened. For example, gold or platinum cards have a much
more professional look in terms of colour, font and general elegance. A
student card, on the other hand, will be geared towards having a much more
funky, hip design in order to be noticeable to cardholders' friends.
Future Impact
Stylish cards have already brought an interesting dynamic to the financial
cards industry. In South Africa, this dynamic is still in its infancy stage
and it is likely that it will develop well into the future. Virgin Money, for
example, sends all its customers regular surveys in order to determine what
card they may be interested in. Most institutions want to give their customers
a high level of service and a feeling of satisfaction with their cards, as not
only will this be good for their brand image, but consumers might be more
inclined to use their cards more regularly. In the future, South Africans are
more likely to see a whole host of customised, financial cards. It is a
perfect marketing tool that, although geared more towards youth, has
applications in many market segments. Over the next few years, companies that
have not already responded to this trend are likely to do so in a significant
way. Brand image, marketing, advertising and lifestyle are all part of a
complete package which all companies would want to offer their customer base.
High Levels of Fraud
South Africa has one of the highest crime rates in the world and is considered
among the most dangerous places to live. Unfortunately, fraud and card-related
crime is no exception. South Africa' s levels of card fraud have grown
astronomically over the review period in a number of segments through lack of
security features on cards.
Current Impact
Crime has affected the financial cards industry to a fair extent and is one of
the key reasons for lack of confidence in the market. This relates to all
forms of card-related crime and not only affects consumer but also store owner
confidence. At present, the most prominent form of crime is identity fraud.
According to the lead fraud prevention institution in the country, identity
fraud occurs due to massive gaps and loopholes in the government' s home
affairs department. Apparently, consumers are able to acquire credit-related
cards, particularly store cards, and use up all the available credit
immediately. Instead of paying back this credit, they acquire a police
affidavit stating that the year of birth on their ID is incorrect. This is
then sent off with an application to the Department of Home Affairs where it
is changed without checking relevant particulars. The fraudster then acquires
a new ID, with a fresh credit history and the process starts again. Other
financial card-related crimes include ATM fraud and more recently credit card
skimming. Both of these are serious problems in the country, with the latter
growing at a fast rate.
Outlook
The high levels of crime can be considered a direct consequence of the lack of
policing and crime prevention structures. Furthermore, the corruption levels
within certain government departments, along with a lack of training and
skills of involved officials, greatly compounds the problem. The banks and
leading institutions cannot possibly keep up with the levels of fraud being
committed in the country at present. Furthermore, much of the fraud being
committed could only be happening with inside information from banking
structures and related institutions. In fairness, when a corrupt employee is
caught by the banks, dismissal is instant. However, this has not reduced the
levels of card-related crime in the country. Furthermore, due to the lack of
general financial card understanding among the South African consumer base,
many of these crimes are easier to commit undetected. However, there is a
glimmer of hope for the honest hard-working citizen - the introduction of
smart cards. EMV smart cards have been introduced but have failed to take off
significantly as a customer only receives one with a new account. Banks
however, are now actively encouraging customers to replace their magnetic
strip cards and have a plan to get the whole country smart card compliant
within the next few years. This however, does not help with ID fraud as this
is a problem that is directly related to break down of government structures.
Future Impact
Fraud in the country is an ongoing battle between institutions and fraudsters.
When a new fraud-prevention technology is introduced, it is only a matter of
time before the fraudsters find a new way around it or a new method of fraud
altogether. In terms of fraud related to skimming or cardholder not present,
smart cards will make a big difference in the market. However, with regard to
crimes such as ATM hold ups and of course ID fraud, there is a lot less that
institutions can do except actively protest the loopholes in the
ineffectively-run government bureaucracy. It is only a matter of time before
consumers become worried about the levels of fraud and confidence in financial
cards decreases. However, as financial cards have become so much a part of the
South African society, it is unlikely that this lack of confidence will lead
to diminishing transactions, with the exception of Internet transactions.
Furthermore, with the major players playing such an active role in card fraud
prevention, the movement towards a safer, crime-free environment has a bit of
capital support behind it. Overall, it would therefore be safe to say that
card-related crime will have a limited impact on the industry in general, but
it is nevertheless a problem that needs to be resolved.
Internet Transactions Show Positive Growth
The growth of the Internet has sparked a worldwide phenomenon in online
transactions. In South Africa, online transactions are relatively undeveloped
but have shown significant growth over the review period. There are a number
of reasons that have contributed to this growth, as well as a number of
reasons that have prohibited further growth.
Current Impact
Currently, the Internet is growing at a rapid rate in the South Africa. This
is predominantly due to the widespread introduction of broadband in many
provinces and cities around the county. Although broadband is not entirely new
in the country, it has traditionally been limited to big cities and due to the
proportionally small number of users, cost has traditionally been quite high.
Over the review period, broadband has exploded all over the country and growth
in number of Internet users has spurred online transactions. This includes
both local online transactions and foreign transactions as South Africans are
becoming accustomed to ordering products from overseas giants such as Amazon.
Although the vast majority of these online purchases are processed with a
credit card, debit card growth in online transactions has also been
impressive. Another main factor in the growth of Internet transactions is
consumers gaining confidence in the Internet and how it works. Previously,
consumers, particularly of an older generation, lacked a general understanding
of the various facets of the Internet, which was further compounded by
security concerns.
Outlook
The outlook is hugely positive for Internet transactions as South Africa seems
to be falling in line with growth across the globe. However, there are a
number of factors which have been hampering the growth of online transactions.
Firstly, Internet fraud and security remains one of the primary reasons
holding back further Internet growth. Consumers have heard a number of scare
stories relating to a host of different frauds and the mere possibility of
having all their funds siphoned from an account has kept many well away from
online transactions. Conversely, as more reputable security companies have
become involved in the market such as VeriSign and Thawte, people have felt a
bit more secure providing their details on certain sites. Secondly, the big
four banks are currently the only providers for doing online switches. This
has hampered online development severely. However, apart from these two
factors, the outlook is very positive for the South African Internet market as
it is still in its relative infancy and has major capabilities for growth.
Future Impact
The future impact that online transactions will have on the South African
financial cards market will become more significant as the country develops
its technology culture. Already, online transactions are starting to account
for a considerably larger proportion of credit card value and to a lesser
extent debit card value. There is no question as to whether the Internet will
be a growth industry, but how fast it grows and to what extent depends on a
number of external factors. Market penetration of broadband Internet is still
low in the country compared to first world countries. With market penetration
and exposure, consumers will gain confidence and it is likely that the
financial cards industry will benefit. Also, the financial cards industry will
definitely evolve to meet the requirements of growing Internet transaction
demand. Already, some of the major online stores, such as Woolworths, are
allowing consumers to make purchases online with pre-paid gift cards. As the
Internet grows, and online transactions become more secure, the possibilities
for the financial cards industry become greater.
Financial Card Misunderstanding
There is a general lack of understanding surrounding financial cards in the
country among both consumers and retail stores alike. Although this lack of
understanding does not necessarily create problems, there are many instances
where consumers can be taken advantage of and this is detrimental to the
financial cards industry.
Current Impact
In general, the greatest lack of understanding is among lower-income groups
who, due to apartheid, were not as exposed to financial cards and banking
services. In many instances, lower-income black groups have no idea how to use
their financial cards, which includes ATM withdrawals and certainly POS
transactions. Most of the banks, in the more rural lower-income areas, have a
number of staff who are there to assist with ATM transactions. However, it is
not only the lower-income groups that lack an understanding about financial
card use. A perfect example is the way in which debit cards are processed at
POS terminals. When a customer makes a purchase at a POS terminal he or she
enters a PIN in order to authorise the transaction, effectively making it
similar to an ATM withdrawal. The merchant, therefore, technically does not
need the customer' s signature on the merchant copy of the invoice; however,
nearly every merchant in the country insists that they sign. Although one may
think this is to prevent any legal issues, most merchants truly do not know
that you need not sign for any debit card purchase. In a related example, by
law, one has to sign for credit card purchases and the merchant is required to
check the copy of the signature against the back of the card; this rarely
happens.
Outlook
In all instances mentioned above, the transaction is processed; however, this
still illustrates a major lack of understanding of financial cards. Obviously,
some instances may have more serious repercussions than others, but in general
they all require the same solution -- financial card education. Interestingly,
the banks involved in the market (particularly the "big four") suggest that
they are doing everything in their power to help educate people with regard to
financial card use, yet these misunderstandings continue. It seems they will
do little more as long as the transactions are being processed and their
revenues are up. It should also be up to shopkeepers and companies to make
sure they understand the laws regarding financial cards before they have POS
terminals installed in stores. In general, this lack of understanding, apart
from the possibility of more serious repercussions, leads to lower consumer
usage due to lack of confidence. Furthermore, once such habits have formed,
they are a lot harder to break and will certainly negatively affect the
financial cards industry in the long run.
Future Impact
If merchants and consumers are not educated about the proper use of financial
cards, this misunderstanding will merely perpetuate. The reason why there has
not been a huge drive towards correcting these issues is because they are
currently deemed not very serious. However, the amount of fraud, both credit
card and at ATMs, could be significantly reduced if merchants and consumers
strictly adhered to the laws surrounding transactions. Although there have
been no immediate effects, once the breaking of laws is excused, regardless of
how inconsequential they are, it is a slippery slope to the breaking of
further laws and a breakdown of wider card culture. Although the future impact
of this trend is nowhere near as severe as this, an important point needs to
be illustrated now. With greater financial card understanding comes greater
consumer use and positive growth. In the long run, the financial cards
industry will be much better off for the education.
- CONSUMER FINANCE IN SOUTH AFRICA : MARKET INSIGHT
- EXECUTIVE SUMMARY
- Solid Growth for Debit Cards
- Gearing Up for 2010
- Cashless Transactions Grow
- Gift Card Explosion
- Credit-Related Cards Slow
- KEY TRENDS AND DEVELOPMENTS
- Cashless Culture Matures
- Technology Collaboration
- Continued Domination by the Big Four Banks
- Bankserv, MasterCard and Visa
- Lifestyle Cards
- High Levels of Fraud
- Internet Transactions Show Positive Growth
- Financial Card Misunderstanding
- MARKET DATA
- Table 1 Consumer Payments: Value 2003-2008
- Table 2 Financial Cards: Number of Cards in Circulation 2003-2008
- Table 3 Financial Cards Transactions: Value 2003-2008
- Table 4 Financial Cards: Number of Transactions 2003-2008
- Table 5 Financial Cards: Number of Accounts 2003-2008
- Table 6 Financial Cards: Number of Cards by Issuer 2003-2007
- Table 7 Financial Cards: Number of Cards by Operator 2003-2007
- Table 8 Financial Cards: Card Payment Transaction Value by Operator
2003-2007
- Table 9 Financial Cards: Card Payment Transactions by Acquirer 2003-2007
- Table 10 Consumer Payments Forecast: Value 2008-2013
- Table 11 Financial Cards Forecast: Number of Cards in Circulation
2008-2013
- Table 12 Financial Cards Forecast: Value 2008-2013
- Table 13 Financial Cards Forecast: Number of Transactions 2008-2013
- Table 14 Financial Cards Forecast: Number of Accounts 2008-2013
- MARKET INDICATORS
- Table 15 Number of POS Terminals 2004-2008
- Table 16 Number of ATMs 2004-2008
- Table 17 Disposable Income 2003-2008
- Table 18 Value Lost to Fraud 2003-2008
- Table 19 Acquirer Fraud 2003-2008
- Table 20 Card Expenditure by Location 2008
- Table 21 Card Expenditure by Sector 2008
- Table 22 Financial Cards in Circulation by Type: % Number of Cards
2004-2008
- Table 23 Domestic versus Foreign Spend 2008
- DEFINITIONS
- Summary 1 Research Sources
- CONSUMER LENDING IN SOUTH AFRICA
- EXECUTIVE SUMMARY
- The global credit crunch impacts South Africa
- Inexperienced borrowers cause more problems
- New legislation offers short- and long-term effects
- Interest rates squeeze disposable income
- The leading players set to continue dominance
- KEY TRENDS AND DEVELOPMENTS
- Consumer Finance Legislation - New National Credit Act
- Black middle-income consumers - first time credit users
- Rising living costs hit consumer confidence
- Crackdown on micro lending malpractice
- Unprecedented levels of debt
- Rising inflation and interest rates
- Mortgages/housing crash looms
- MARKET DATA
- Table 24 Consumer Lending By Sector: Outstanding Balance: Value 2003-2008
- Table 25 Consumer Lending By Sector: Outstanding Balance: % Value Growth
2003-2008
- Table 26 Consumer Lending By Sector: Gross Lending: Value 2003-2008
- Table 27 Consumer Lending By Sector: Gross Lending: % Value Growth
2003-2008
- Table 28 Consumer Lending: Non-performing vs Other Loans 2003-2008
- Table 29 Mortgages/Housing: Non-performing vs Other Loans 2003-2008
- Table 30 Consumer Credit: Non-performing vs Other Loans 2003-2008
- Table 31 Forecast Consumer Lending By Sector: Outstanding Balance: Value
2008-2013
- Table 32 Forecast Consumer Lending By Sector: Outstanding Balance: %
Value Growth 2008-2013
- Table 33 Forecast Consumer Lending By Sector: Gross Lending: Value
2008-2013
- Table 34 Forecast Consumer Lending By Sector: Gross Lending: % Value
Growth 2008-2013
- DEFINITIONS
- Summary 2 Research Sources
- LOCAL COMPANY PROFILES - SOUTH AFRICA
- AMALGAMATED BANKS OF SOUTH AFRICA (ABSA) - FINANCIAL CARDS AND PAYMENTS -
SOUTH AFRICA
- STRATEGIC DIRECTION
- KEY FACTS
- Summary 3 ABSA: Key Facts
- COMPANY BACKGROUND
- COMPETITIVE POSITIONING
- Summary 4 ABSA: Competitive Position 2007
- FIRST NATIONAL BANK (FNB) - FINANCIAL CARDS AND PAYMENTS - SOUTH AFRICA
- STRATEGIC DIRECTION
- KEY FACTS
- Summary 5 First National Bank Ltd: Key Facts
- COMPANY BACKGROUND
- COMPETITIVE POSITIONING
- Summary 6 First National Bank Ltd: Competitive Position 2007
- NEDBANK GROUP LTD - FINANCIAL CARDS AND PAYMENTS - SOUTH AFRICA
- STRATEGIC DIRECTION
- KEY FACTS
- Summary 7 Nedbank Group Ltd: Key Facts
- COMPANY BACKGROUND
- COMPETITIVE POSITIONING
- Summary 8 Nedbank Group Ltd: Competitive Position 2007
- STANDARD BANK OF SOUTH AFRICA - FINANCIAL CARDS AND PAYMENTS - SOUTH AFRICA
- STRATEGIC DIRECTION
- KEY FACTS
- Summary 9 Standard Bank of South Africa Ltd: Key Facts
- COMPANY BACKGROUND
- COMPETITIVE POSITIONING
- Summary 10 Standard Bank of South Africa Ltd: Competitive Position 2007
- ATM TRANSACTIONS IN SOUTH AFRICA
- HEADLINES
- TRENDS
- COMPETITIVE LANDSCAPE
- PROSPECTS
- SECTOR DATA
- Table 35 ATM Cards Sector Performance: 2003-2008
- Table 36 ATM Cards Sector Performance: Number of Cards in Circulation
2003-2008
- Table 37 ATM Cards Sector Performance: % Growth 2003-2008
- Table 38 ATM Cards in Circulation Sector Performance: % Growth 2003-2008
- Table 39 ATM Cards Forecast Sector Performance: 2008-2013
- Table 40 ATM Cards Forecast Sector Performance: Number of Cards in
Circulation 2008-2013
- Table 41 ATM Cards Forecast Sector Performance: % Growth 2008-2013
- Table 42 ATM Cards in Circulation Forecast Sector Performance: % Growth
2008-2013
- DEBIT TRANSACTIONS IN SOUTH AFRICA
- HEADLINES
- TRENDS
- COMPETITIVE LANDSCAPE
- PROSPECTS
- SECTOR DATA
- Table 43 Debit Cards Sector Performance: 2003-2008
- Table 44 Debit Cards Sector Performance: Number of Cards in Circulation
2003-2008
- Table 45 Debit Cards Sector Performance: % Growth 2003-2008
- Table 46 Debit Cards in Circulation Sector Performance: % Growth
2003-2008
- Table 47 Debit Cards: Number of Cards by Issuer 2003-2007
- Table 48 Debit Cards: Number of Cards by Operator 2003-2007
- Table 49 Debit Cards Transactions by Acquirer 2003-2007
- Table 50 Debit Cards Payment Transaction Value by Operator 2003-2007
- Table 51 Debit Cards Forecast Sector Performance: 2008-2013
- Table 52 Debit Cards Forecast Sector Performance: Number of Cards in
Circulation 2008-2013
- Table 53 Debit Cards Forecast Sector Performance: % Growth 2008-2013
- Table 54 Debit Cards in Circulation Forecast Sector Performance: %
Growth 2008-2013
- CREDIT CARD TRANSACTIONS IN SOUTH AFRICA
- HEADLINES
- TRENDS
- COMPETITIVE LANDSCAPE
- PROSPECTS
- SECTOR DATA
- Table 55 Credit Cards Sector Performance: 2003-2008
- Table 56 Credit Cards Sector Performance: Number of Cards in Circulation
2003-2008
- Table 57 Credit Cards Sector Performance: % Growth 2003-2008
- Table 58 Credit Cards in Circulation Sector Performance: % Growth
2003-2008
- Table 59 Personal Credit Cards Sector Performance: 2003-2008
- Table 60 Personal Credit Cards Sector Performance: Number of Cards in
Circulation 2003-2008
- Table 61 Personal Credit Cards Sector Performance: % Growth 2003-2008
- Table 62 Personal Credit Cards in Circulation Sector Performance: %
Growth 2003-2008
- Table 63 Commercial Credit Cards Sector Performance: 2003-2008
- Table 64 Commercial Credit Cards Sector Performance: Number of Cards in
Circulation 2003-2008
- Table 65 Commercial Credit Cards Sector Performance: % Growth 2003-2008
- Table 66 Commercial Credit Cards in Circulation Sector Performance: %
Growth 2003-2008
- Table 67 Credit Cards: Number of Cards by Issuer 2003-2007
- Table 68 Credit Cards: Number of Cards by Operator 2003-2007
- Table 69 Credit Cards Transactions by Acquirer 2003-2007
- Table 70 Credit Cards Payment Transaction Value by Operator 2003-2007
- Table 71 Personal Credit Cards Payment Transaction Value by Operator
2003-2007
- Table 72 Commercial Credit Cards Payment Transaction Value by Operator
2003-2007
- Table 73 Credit Cards Forecast Sector Performance: 2008-2013
- Table 74 Credit Cards Forecast Sector Performance: Number of Cards in
Circulation 2008-2013
- Table 75 Credit Cards Forecast Sector Performance: % Growth 2008-2013
- Table 76 Credit Cards in Circulation Forecast Sector Performance: %
Growth 2008-2013
- Table 77 Personal Credit Cards Forecast Sector Performance: 2008-2013
- Table 78 Personal Credit Cards Forecast Sector Performance: Number of
Cards in Circulation 2008-2013
- Table 79 Personal Credit Cards Forecast Sector Performance: % Growth
2008-2013
- Table 80 Personal Credit Cards in Circulation Forecast Sector
Performance: % Growth 2008-2013
- Table 81 Commercial Credit Cards Forecast Sector Performance: 2008-2013
- Table 82 Commercial Credit Cards Forecast Sector Performance: Number of
Cards in Circulation 2008-2013
- Table 83 Commercial Credit Cards Forecast Sector Performance: % Growth
2008-2013
- Table 84 Commercial Credit Cards in Circulation Forecast Sector
Performance: % Growth 2008-2013
- CHARGE CARD TRANSACTIONS IN SOUTH AFRICA
- HEADLINES
- TRENDS
- COMPETITIVE LANDSCAPE
- PROSPECTS
- SECTOR DATA
- Table 85 Charge Cards Sector Performance: 2003-2008
- Table 86 Charge Cards Sector Performance: Number of Cards in Circulation
2003-2008
- Table 87 Charge Cards Sector Performance: % Growth 2003-2008
- Table 88 Charge Cards in Circulation Sector Performance: % Growth
2003-2008
- Table 89 Personal Charge Cards Sector Performance: 2003-2008
- Table 90 Personal Charge Cards Sector Performance: Number of Cards in
Circulation 2003-2008
- Table 91 Personal Charge Cards Sector Performance: % Growth 2003-2008
- Table 92 Personal Charge Cards in Circulation Sector Performance: %
Growth 2003-2008
- Table 93 Commercial Charge Cards Sector Performance: 2003-2008
- Table 94 Commercial Charge Cards Sector Performance: Number of Cards in
Circulation 2003-2008
- Table 95 Commercial Charge Cards Sector Performance: % Growth 2003-2008
- Table 96 Commercial Charge Cards in Circulation Sector Performance: %
Growth 2003-2008
- Table 97 Charge Cards: Number of Cards by Issuer 2003-2007
- Table 98 Charge Cards: Number of Cards by Operator 2003-2007
- Table 99 Charge Cards Transactions by Acquirer 2003-2007
- Table 100 Charge Cards Payment Transaction Value by Operator 2003-2007
- Table 101 Personal Charge Cards Transaction Value by Operator 2003-2007
- Table 102 Commercial Charge Cards Payment Transaction Value by Operator
2003-2007
- Table 103 Charge Cards Forecast Sector Performance: 2008-2013
- Table 104 Charge Cards Forecast Sector Performance: Number of Cards in
Circulation 2008-2013
- Table 105 Charge Cards Forecast Sector Performance: % Growth 2008-2013
- Table 106 Charge Cards in Circulation Forecast Sector Performance: %
Growth 2008-2013
- Table 107 Personal Charge Cards Forecast Sector Performance: 2008-2013
- Table 108 Personal Charge Cards Forecast Sector Performance: Number of
Cards in Circulation 2008-2013
- Table 109 Personal Charge Cards Forecast Sector Performance: % Growth
2008-2013
- Table 110 Personal Charge Cards in Circulation Forecast Sector
Performance: % Growth 2008-2013
- Table 111 Commercial Charge Cards Forecast Sector Performance: 2008-2013
- Table 112 Commercial Charge Cards Forecast Sector Performance: Number of
Cards in Circulation 2008-2013
- Table 113 Commercial Charge Cards Forecast Sector Performance: % Growth
2008-2013
- Table 114 Commercial Charge Cards in Circulation Forecast Sector
Performance: % Growth 2008-2013
- GENERAL PURPOSE PRE-PAID CARD TRANSACTIONS IN SOUTH AFRICA
- HEADLINES
- TRENDS
- COMPETITIVE LANDSCAPE
- PROSPECTS
- SECTOR DATA
- Table 115 General Purpose Pre-paid Cards Sector Performance: 2003-2008
- Table 116 General Purpose Pre-paid Cards Sector Performance: Number of
Cards in Circulation 2003-2008
- Table 117 General Purpose Pre-paid Cards Sector Performance: % Growth
2003-2008
- Table 118 General Purpose Pre-paid Cards in Circulation Sector
Performance: % Growth 2003-2008
- Table 119 General Purpose Pre-paid Cards by Type: % Number of Cards
2004-2008
- Table 120 General Purpose Pre-paid Cards: Number of Cards by Operator
2003-2007
- Table 121 General Purpose Pre-paid Cards Transaction Value by Operator
2003-2007
- Table 122 General Purpose Pre-paid Cards Forecast Sector Performance:
2008-2013
- Table 123 General Purpose Pre-paid Cards Forecast Sector Performance:
Number of Cards in Circulation 2008-2013
- Table 124 General Purpose Pre-paid Cards Forecast Sector Performance: %
Growth 2008-2013
- Table 125 General Purpose Pre-paid Cards in Circulation Forecast Sector
Performance: % Growth 2008-2013
- STORE CARD TRANSACTIONS IN SOUTH AFRICA
- HEADLINES
- TRENDS
- COMPETITIVE LANDSCAPE
- PROSPECTS
- SECTOR DATA
- Table 126 Store Cards Sector Performance: 2003-2008
- Table 127 Store Cards Sector Performance: Number of Cards in Circulation
2003-2008
- Table 128 Store Cards Sector Performance: % Growth 2003-2008
- Table 129 Store Cards in Circulation Sector Performance: % Growth
2003-2008
- Table 130 Store Cards: Number of Cards by Issuer 2003-2007
- Table 131 Store Cards Forecast Sector Performance: 2008-2013
- Table 132 Store Cards Forecast Sector Performance: Number of Cards in
Circulation 2008-2013
- Table 133 Store Cards Forecast Sector Performance: % Growth 2008-2013
- Table 134 Store Cards in Circulation Forecast Sector Performance: %
Growth 2008-2013
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