Payments Landscape in Serbia: Opportunities and Risks to 2023

Powered by

All the vital news, analysis, and commentary curated by our industry experts.

GlobalData’s 'Payments Landscape in Serbia: Opportunities and Risks to 2023' report provides detailed analysis of market trends in the Serbian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cards, credit transfers, direct debits, and cheques during the review-period (2015–19e).

The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2019e–23f). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.

The report brings together GlobalData’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in the regulatory structure.

GlobalData’s 'Payments Landscape in Serbia: Opportunities and Risks to 2023' report provides top-level market analysis, information and insights into the Serbian cards and payments industry, including –
– Current and forecast values for each market in the Serbian cards and payments industry, including debit, credit, and charge cards.
– Detailed insights into payment instruments including cards, credit transfers, cheques, and direct debits. It also, includes an overview of the country's key alternative payment instruments.
– E-commerce market analysis.
– Analysis of various market drivers and regulations governing the Serbian cards and payments industry.
– Detailed analysis of strategies adopted by banks and other institutions to market debit, credit, and charge cards.

Scope

– Financial inclusion remains one of the key focus areas of the Serbian government, which has taken several steps with this in mind. In March 2019 the Right to a Payment Account With Basic Features was implemented. This regulation aims to accelerate the provision of basic financial services to the underbanked population. The law stipulates that banks must offer low-cost bank accounts with basic features including cash deposits and withdrawals, a debit card, payments, and fund transfers. The government also introduced a new law on account switching, in order to make the process of switching current accounts faster and easier.

– To facilitate instant real-time fund transfers, the National Bank of Serbia (NBS) (the county’s central bank) launched Instant Payments Serbia (IPS) in October 2018. Operational 24 hours a day, seven days a week, 365 days a year, IPS allows both individuals and corporates to make fund transfers in seconds, with a maximum transfer limit of RSD300,000 ($2,905.09) per transaction. As of April 2019, IPS needs to be offered to bank customers via all accessible channels.

– During the same month, the central bank obliged banks to enable instant payments at merchant stores via QR code-based solutions. This allows merchants to receive their funds instantly, whereas card payments can take a few days to clear. And for added convenience, the new system also enables users to make fund transfers via the recipient’s mobile phone number. According to the NBS, the IPS system processed 451,483 transactions in April 2019, compared to 354,969 in January 2019. On average 15,049 payments were processed per day in April 2019, with a daily average turnover of RSD225.8m ($2.2m), at an average execution time of 1.18 seconds per transaction.

– To further encourage card acceptance among Serbian merchants, the central bank passed a new regulation reducing the interchange fee to the EU standard in December 2018. The new law caps the interchange fee at 0.2% for debit cards and 0.3% for credit cards, compared to the previous average of 1%.

Reasons to Buy

– Make strategic business decisions, using top-level historic and forecast market data, related to the Serbian cards and payments industry and each market within it.

– Understand the key market trends and growth opportunities in the Serbian cards and payments industry.

– Assess the competitive dynamics in the Serbian cards and payments industry.

– Gain insights into marketing strategies used for various card types in Serbia.

– Gain insights into key regulations governing the Serbian cards and payments industry.

Intesa Sanpaolo
Komercijalna banka
Raiffeisen Bank
AIK Banka
OTP Bank
UniCredit Bank
Societe Generale Group
Eurobank
Erste Bank
Addiko Bank
NLB
ProCredit Bank
Vojvodjanska banka
Alpha Bank
Visa
Mastercard
American Express
DinaCard
Diners Club

Table of Contents

Table of Contents

Market Overview

Card-based Payments

E-commerce Payments

Alternative Payments

Payment Innovations

Payments Infrastructure & Regulation

Appendix

Frequently asked questions

Payments Landscape in Serbia: Opportunities and Risks to 2023 standard reports
Currency USD
$2,750

Can be used by individual purchaser only

$8,250

Can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company


Undecided about purchasing this report?

Enquire Before Buying Request a Free Sample

Get in touch to find out about multi-purchase discounts

reportstore@globaldata.com
Tel +44 20 7947 2745

Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.

Sample Report

Payments Landscape in Serbia: Opportunities and Risks to 2023 was curated by the best experts in the industry and we are confident about its unique quality. However, we want you to make the most beneficial decision for your business, so we offer free sample pages to help you:

  • Assess the relevance of the report
  • Evaluate the quality of the report
  • Justify the cost

Download your copy of the sample report and make an informed decision about whether the full report will provide you with the insights and information you need.

Below is a sample report to understand what you are buying

See what our customers are saying

“The GlobalData platform is our go-to tool for intelligence services. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers.

GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”

Business Intelligence & Marketing Manager, SAL Heavy Lift

“COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.”

Market Analyst & Management, Liebherr-Werk

Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.

Head of Key Accounts, Saab AB

Having used several other market research companies, I find that GlobalData manages to provide that ‘difficult-to-get’ market data that others can’t, as well as very diverse and complete consumer surveys.

Marketing Intelligence Manager, Portugal Foods

Our experience with GlobalData has been very good, from the platform itself to the people. I find that the analysts and the account team have a high level of customer focus and responsiveness and therefore I can always rely on. The platform is more holistic than other providers. It is convenient and almost like a one stop shop. The pricing suite is highly competitive and value for our organisation.

I like reports that inform new segments such as the analysis on generation Z, millennials, the impact of COVID 19 to our banking customers and their new channel habits. Secondly the specialist insight on affluent sector significantly increases our understanding about this group of customers. The combination of those give us depth and breadth of the evolving market.

I’m in the business of answering and helping people make decisions so with the intelligence center I can do that, effectively and efficiently. I can share quickly key insights that answer and satisfy our country stakeholders by giving them many quality studies and primary research about competitive landscape beyond the outlook of our bank. It helps me be seen as an advisory partner and that makes a big difference. A big benefit of our subscription is that no one holds the whole data and because it allows so many people, so many different parts of our organisation have access, it enables all teams to have the same level of knowledge and decision support.

Head of Customer Insight and Research, Standard Chartered

“I know that I can always rely on Globaldata’s work when I’m searching for the right consumer and market insights. I use Globaldata insights to understand the changing market & consumer landscape and help create better taste & wellbeing solutions for our customers in food, beverage and healthcare industries.

Globaldata has the right data and the reports are of very high quality compared to your competitors. Globaldata not only has overall market sizes & consumer insights on food & beverages but also provides insights at the ingredient & flavour level. That is key for B2B companies like Givaudan. This way we understand our customers’ business and also gain insight to our unique industry”

Head of Consumer Sensory Insights, Givaudan

GlobalData provides a great range of information and reports on various sectors that is highly relevant, timely, easy to access and utilise.  The reports and data dashboards help engagement with clients; they provide valuable industry and market insights that can enrich client conversations and can help in the shaping of value propositions. Moreover, using GlobalData products has helped increase my knowledge of the finance sector, the players within it, and the general threats and opportunities.

I find the consumer surveys that are carried out to be extremely beneficial and not something I have seen anywhere else. They provided an insightful view of why and which consumers take (or don’t) particular financial products. This can help shape conversations with clients to ensure they make the right strategic decisions for their business.

One of the challenges I have found is that data in the payments space is often piecemeal. With GD all of the data I need is in one place, but it also comes with additional market reports that provide useful extra context and information. Having the ability to set-up alerts on relevant movements in the industry, be it competitors or customers, and have them emailed directly to me, ensures I get early sight of industry activity and don’t have to search for news.

Senior Account Manager, TSYS
Financial Services
New
Worldline - Competitor Profile
$350 | March 2024
Financial Services
New
Huawei Pay - Competitor Profile
$350 | April 2024
Go even deeper with GlobalData Intelligence Center

Every Company Report we produce is powered by the GlobalData Intelligence Center.

Subscribing to our intelligence platform means you can monitor developments at Payments Landscape in Serbia: Opportunities and Risks to 2023 in real time.

  • Access a live Payments Landscape in Serbia: Opportunities and Risks to 2023 dashboard for 12 months, with up-to-the-minute insights.
  • Fuel your decision making with real-time deal coverage and media activity.
  • Turn insights on financials, deals, products and pipelines into powerful agents of commercial advantage.