The Cards and Payments Industry in Romania: Emerging Trends and Opportunities to 2021

Table of Contents

EXECUTIVE SUMMARY 2

1.1. Market overview 2

1.2. Key facts 3

1.3. Top five industry events 4

2. PAYMENT INSTRUMENTS 10

2.1. Current payment environment 10

3. E-COMMERCE AND ALTERNATIVE PAYMENTS 12

3.1. E-commerce market analysis 12

3.2. Alternative payment solutions 13

3.2.1. Seqr 13

3.2.2. Netopia mobilPay 13

3.2.3. M-Pesa 13

3.2.4. MasterPass 14

3.2.5. PayPal 14

3.2.6. Paysafecard 14

3.2.7. Romcard 14

4. REGULATIONS IN THE CARDS AND PAYMENTS INDUSTRY 15

4.1. Regulatory framework 15

4.1.1. SEPA implementation 15

4.1.2. Implementation of the payment services directive (PSD) 16

4.1.3. Interchange fee regulation 17

4.2. Anti-money laundering 17

4.3. Foreign direct investment (FDI) regulations 17

5. ANALYSIS OF CARDS AND PAYMENTS INDUSTRY DRIVERS 19

6. PAYMENT CARDS 21

7. DEBIT CARDS 23

7.1. Debit cards market analysis 23

7.2. Competition in the debit cards market 25

7.3. Debit cards comparison 26

8. PAY LATER CARDS 27

8.1. Pay later cards market analysis 27

8.2. Competition in the pay later cards market 29

8.3. Pay later cards comparison 31

9. PREPAID CARDS 32

10. APPENDIX 33

10.1. Abbreviations and acronyms 33

10.2. Supplementary data 34

10.3. Definitions 46

10.4. Common payment card features 47

10.5. Methodology 48

10.6. Bibliography 50

10.7. Further reading 50

List of Tables

Table 1: Romania, Key Facts, 2016 3

Table 2: Romania, Regional Benchmarking of Payment Cards, 2016 3

Table 3: Romania, Modes of Entry for Foreign Banks 18

Table 4: Romania, Debit Cards Comparison and Key Features, 2016 26

Table 5: Romania, Gold Credit Cards Comparison and Key Features, 2016 31

Table 6: Romania, Premium Credit Cards Comparison and Key Features, 2016 31

Table 7: Romania, Payment Instrument Transaction Values (RON Billion), 2012-2016 34

Table 8: Romania, Payment Instrument Transaction Values (US$ Billion), 2012-2016 34

Table 9: Romania, Payment Instrument Transaction Volumes (Million), 2012-2016 34

Table 10: Romania, Payment Cards in Circulation by Type (Million), 2012-2021 35

Table 11: Romania, Volume of Payment Card Transactions (Million), 2012-2021 35

Table 12: Romania, Value of Payment Card Transactions (RON Billion), 2012-2021 35

Table 13: Romania, Value of Payment Card Transactions (US$ Billion), 2012-2021 35

Table 14: Romania, Debit Cards in Circulation (Million), 2012-2021 36

Table 15: Romania, Debit Card Transaction Volumes, 2012-2021 36

Table 16: Romania, Debit Card Transaction Values (RON), 2012-2021 36

Table 17: Romania, Debit Card Transaction Values (US$), 2012-2021 37

Table 18: Romania, Debit Cards in Circulation by Scheme (Million), 2012-2016 37

Table 19: Romania, Debit Card Transaction Values by Scheme (RON Billion), 2012-2016 37

Table 20: Romania, Debit Card Transaction Values by Scheme (US$ Billion), 2012-2016 37

Table 21: Romania, Debit Card Transaction Values by Issuer (RON Billion), 2012-2016 38

Table 22: Romania, Debit Card Transaction Values by Issuer (US$ Billion), 2012-2016 38

Table 23: Romania, Pay Later Cards in Circulation (Million), 2012-2021 38

Table 24: Romania, Pay Later Card Transaction Volumes, 2012-2021 39

Table 25: Romania, Pay Later Card Transaction Values (RON), 2012-2021 39

Table 26: Romania, Pay Later Card Transaction Values (US$), 2012-2021 39

Table 27: Romania, Pay Later Cards in Circulation by Scheme (Thousand), 2012-2016 40

Table 28: Romania, Pay Later Card Transaction Values by Scheme (RON Billion), 2012-2016 40

Table 29: Romania, Pay Later Card Transaction Values by Scheme (US$ Billion), 2012-2016 40

Table 30: Romania, Pay Later Card Transaction Values by Issuer (RON Million), 2012-2016 41

Table 31: Romania, Pay Later Card Transaction Values by Issuer (US$ Million), 2012-2016 41

Table 32: Romania, Credit Cards in Circulation (Million), 2012-2021 42

Table 33: Romania, Credit Card Transaction Volumes, 2012-2021 42

Table 34: Romania, Credit Card Transaction Values (RON), 2012-2021 42

Table 35: Romania, Credit Card Transaction Values (US$), 2012-2021 43

Table 36: Romania, Credit Cards in Circulation by Scheme (Million), 2012-2016 43

Table 37: Romania, Credit Card Transaction Values by Scheme (RON Billion), 2012-2016 43

Table 38: Romania, Credit Card Transaction Values by Scheme (US$ Billion), 2012-2016 43

Table 39: Romania, Charge Cards in Circulation (Thousand), 2012-2021 44

Table 40: Romania, Charge Card Transaction Volumes, 2012-2021 44

Table 41: Romania, Charge Card Transaction Values (RON), 2012-2021 44

Table 42: Romania, Charge Card Transaction Values (US$), 2012-2021 45

Table 43: Romania, Prepaid Cards in Circulation (Thousand), 2012-2021 45

Table 44: Romania, Prepaid Card Transaction Values (RON Million), 2012-2021 45

Table 45: Romania, Prepaid Card Transaction Values (US$ Million), 2012-2021 45

Table 46: Definitions of Commonly Used Terms 46

Table 47: Common Features of Payment Cards 47

Table 48: Annual Average Exchange Rate (RON-US$), 2012-2021 49

List of Figures

Figure 1: Romania, Payment Instrument Shares by Transaction Value (%), 2012 vs 2016 10

Figure 2: Romania, Payment Instrument Shares by Transaction Volume (%), 2012 vs 2016 11

Figure 3: Romania, E-Commerce Value 12

Figure 4: Romania, Population and Economic Indicators 19

Figure 5: Romania, ATMs, POS Terminals and Household Consumption 20

Figure 6: Romania, Payment Cards Transaction Value and Cards in Circulation (%), 2012-2021 21

Figure 7: Romania, Debit Card Penetration and Turnover per Card, 2016 23

Figure 8: Romania, Debit Cards Scheme and Issuer Transaction Value Share (%), 2016 25

Figure 9: Romania, Pay Later Card Penetration and Turnover Per Card, 2016 27

Figure 10: Romania, Pay Later Cards Scheme and Issuer Transaction Value Share (%), 2016 29

Figure 11: Romania, Prepaid Cards in Circulation and Transaction Value, 2012-2021 32