The Cards and Payments Industry in Spain: Emerging Trends and Opportunities to 2020

GlobalData’s "The Cards and Payments Industry in Spain: Emerging Trends and Opportunities to 2020", report provides detailed analysis of market trends in the Spanish cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including credit transfers, direct debit, check payments, payment cards and cash transactions during the review period (2012-2016).

The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, and transaction values and volumes during the review period and over the forecast period (2016-2020). 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.

The uptake of alternative payments among Spanish consumers is gaining traction, with international payment solution providers launching their solutions in the market - the latest initiative being the introduction of Apple Pay in December 2016. In January 2016, CaixaBank signed an agreement with Samsung Electronics to add Samsung Pay to its mobile payment (m-payment) service. Customers of CaixaBank and its imaginBank subsidiary were the first in Spain to access the Samsung Pay service. This service is accepted in all stores that accept contactless payments, with the number of payment terminals amounting to over 600,000.

The Spanish government introduced a new regulation in October 2015, according to which either a bank or ATM network operator can charge consumers for cash withdrawals, but not both. In response, banks and ATM network operators amended fee structures to reduce overall charges for consumers. Bankia, Banco Sabadell and ATM provider Euro 6000 agreed to cap fees at US$0.62 (EUR0.65), effective from January 2016. While this initiative was introduced to protect consumer interests, it is expected to encourage use of payment cards among Spanish consumers.

The emergence of digital-only banks is likely to accelerate the shift towards electronic payments in Spain. The mobile-only imaginBank, launched by CaixaBank in January 2016, provides banking services exclusively through mobile apps and social networks. Through the mobile app, consumers can apply for current accounts, credit cards and consumer loans, manage personal finances and make person-to-person (P2P) payments. Users can also use the imaginBank Facebook application to find out bank balances and view recent transactions.

This report also provides top-level market analysis, information and insights into the Spanish cards and payments industry, including -

- Current and forecast values for each market in the Spanish cards and payments industry, including debit, credit and charge cards.

- Detailed insights into payment instruments including credit transfers, direct debit, cash transactions, checks and payment cards. It also, includes an overview of the country's key alternative payment instruments.

- E-commerce market analysis and payment methods.

- Analysis of various market drivers and regulations governing the Spanish cards and payments industry.

- Detailed analysis of strategies adopted by banks and other institutions to market debit, credit and charge cards.

- Comprehensive analysis of consumer attitudes and buying preferences for cards.

- The competitive landscape in the Spanish cards and payments industry.

Scope

- This report provides a comprehensive analysis of the Spanish cards and payments industry.

- It provides current values for the Spanish cards and payments industry for 2016, and forecast figures to 2020.

- It details the different demographic, economic, infrastructural and business drivers affecting the Spanish cards and payments industry.

- It outlines the current regulatory framework in the industry.

- It details marketing strategies used by various banks and other institutions.

Reasons to buy

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

- Understand the key market trends and growth opportunities in the Spanish cards and payments industry.

- Assess the competitive dynamics in the Spanish cards and payments industry.

- Gain insights into marketing strategies used for various card types in Spain.

- Gain insights into key regulations governing the Spanish cards and payments industry.

Companies mentioned

CaixaBank

BBVA

Banco Santander

Bankia

Banco Sabadell

BNP Paribas

Banco Popular Español

Visa

Mastercard

Global Payments

Elavon

EVO

CaixaBank

BBVA

Banco Santander

Bankia

Banco Sabadell

BNP Paribas

Banco Popular Español

Visa

Mastercard

Global Payments

Elavon

EVO

Table of Contents

Table of Contents

1. EXECUTIVE SUMMARY 2

1.1. Market overview 2

1.2. Key facts 4

1.3. Top five industry events 5

2 ...

Table of Contents

1. EXECUTIVE SUMMARY 2

1.1. Market overview 2

1.2. Key facts 4

1.3. Top five industry events 5

2. PAYMENT INSTRUMENTS 11

2.1. Current payment environment 11

3. E-COMMERCE AND ALTERNATIVE PAYMENTS 13

3.1. E-Commerce market analysis 13

3.2. Alternative payment solutions 15

3.2.1. PayPal 15

3.2.2. Orange Cash 15

3.2.3. BBVA Wallet 15

3.2.4. Caixa Wallet 15

3.2.5. Vodafone SmartPass Wallet 16

3.2.6. Apple Pay 16

3.2.7. Samsung Pay 17

3.2.8. Visa Checkout 17

3.2.9. MasterPass 17

3.2.10. iupay 17

3.2.11. Kuapay 17

3.2.12. Teleingreso 18

3.2.13. paysafecard 18

3.2.14. Seqr 18

4. REGULATIONS IN THE CARDS AND PAYMENTS INDUSTRY 19

4.1. Regulatory framework 19

4.1.1. SEPA cards framework 20

4.1.2. Implementation of the payment services directive (PSD) 21

4.1.3. Payment Services Directive 2 (PSD2) 21

4.1.4. Interchange fee regulation 22

4.2. Anti-money laundering 23

4.3. Foreign direct investment regulations 23

5. ANALYSIS OF CARDS AND PAYMENTS INDUSTRY DRIVERS 24

6. PAYMENT CARDS 27

7. DEBIT CARDS 29

7.1. Debit cards market analysis 29

7.2. Competition in the debit cards market 31

7.3. Debit cards comparison 33

8. PAY LATER CARDS 34

8.1. Pay later cards market analysis 34

8.2. Competition in the pay later cards market 36

8.3. Pay later cards comparison 38

9. MERCHANT ACQUIRING 40

10. APPENDIX 43

10.1. Abbreviations and acronyms 43

10.2. Supplementary data 44

10.3. Definitions 59

10.4. Common payment card features 60

10.5. Methodology 61

10.6. Bibliography 63

10.7. Further reading 63

List of tables

List of Tables

Table 1: Spain, Key Facts, 2016 4

Table 2: Spain, Regional Benchmarking of Payment Cards, 2016 4

Table 3: Spain, Mode of ...

List of Tables

Table 1: Spain, Key Facts, 2016 4

Table 2: Spain, Regional Benchmarking of Payment Cards, 2016 4

Table 3: Spain, Mode of Entry of Foreign Banks 23

Table 4: Spain, Debit Cards Comparison and Key Features, 2017 33

Table 5: Spain, Gold Credit Cards Comparison and Key Features, 2017 38

Table 6: Spain, Premium Credit Cards Comparison and Key Features, 2017 38

Table 7: Spain, Charge Cards Comparison and Key Features, 2017 39

Table 8: Spain, Payment Instrument Transaction Values (EUR Billion), 2012-2016 44

Table 9: Spain, Payment Instrument Transaction Values (US$ Billion), 2012-2016 44

Table 10: Spain, Payment Instrument Transaction Volumes (Million), 2012-2016 44

Table 11: Spain, Payment Cards in Circulation by Type (Million), 2012-2020 45

Table 12: Spain, Volume of Payment Card Transactions (Million), 2012-2020 45

Table 13: Spain, Value of Payment Card Transactions (EUR Billion), 2012-2020 45

Table 14: Spain, Value of Payment Card Transactions (US$ Billion), 2012-2020 45

Table 15: Spain, Debit Cards in Circulation (Million), 2012-2020 46

Table 16: Spain, Debit Card Transaction Volumes, 2012-2020 46

Table 17: Spain, Debit Card Transaction Values (EUR), 2012-2020 46

Table 18: Spain, Debit Card Transaction Values (US$), 2012-2020 47

Table 19: Spain, Debit Cards in Circulation by Scheme (Million), 2012-2016 47

Table 20: Spain, Debit Card Transaction Values by Scheme (EUR Billion), 2012-2016 47

Table 21: Spain, Debit Card Transaction Values by Scheme (US$ Billion), 2012-2016 47

Table 22: Spain, Debit Card Transaction Values by Issuer (EUR Billion), 2012-2016 48

Table 23: Spain, Debit Card Transaction Values by Issuer (US$ Billion), 2012-2016 48

Table 24: Spain, Pay Later Cards in Circulation (Million), 2012-2020 48

Table 25: Spain, Pay Later Card Transaction Volumes, 2012-2020 49

Table 26: Spain, Pay Later Card Transaction Values (EUR), 2012-2020 49

Table 27: Spain, Pay Later Card Transaction Values (US$), 2012-2020 49

Table 28: Spain, Pay Later Cards in Circulation by Scheme (Million), 2012-2016 50

Table 29: Spain, Pay Later Card Transaction Values by Scheme (EUR Billion), 2012-2016 50

Table 30: Spain, Pay Later Card Transaction Values by Scheme (US$ Billion), 2012-2016 50

Table 31: Spain, Pay Later Card Transaction Values by Issuer (EUR Billion), 2012-2016 51

Table 32: Spain, Pay Later Card Transaction Values by Issuer (US$ Billion), 2012-2016 51

Table 33: Spain, Credit Cards in Circulation (Million), 2012-2020 51

Table 34: Spain, Credit Card Transaction Volumes, 2012-2020 52

Table 35: Spain, Credit Card Transaction Values (EUR), 2012-2020 52

Table 36: Spain, Credit Card Transaction Values (US$), 2012-2020 52

Table 37: Spain, Credit Cards in Circulation by Scheme (Million), 2012-2016 53

Table 38: Spain, Credit Card Transaction Values by Scheme (EUR Billion), 2012-2016 53

Table 39: Spain, Credit Card Transaction Values by Scheme (US$ Billion), 2012-2016 53

Table 40: Spain, Charge Cards in Circulation (Million), 2012-2020 53

Table 41: Spain, Charge Card Transaction Volumes, 2012-2020 54

Table 42: Spain, Charge Card Transaction Values (EUR), 2012-2020 54

Table 43: Spain, Charge Card Transaction Values (US$), 2012-2020 54

Table 44: Spain, Charge Cards in Circulation by Scheme (Million), 2012-2016 55

Table 45: Spain, Charge Card Transaction Values by Scheme (EUR Billion), 2012-2016 55

Table 46: Spain, Charge Card Transaction Values by Scheme (US$ Billion), 2012-2016 55

Table 47: Spain, Merchant Acquiring Transaction Volumes (Billion), 2012-2020 55

Table 48: Spain, Merchant Acquiring Transaction Values (EUR Billion), 2011-2020 56

Table 49: Spain, Merchant Acquiring Transaction Values (US$ Billion), 2012-2020 56

Table 50: Spain, Acquirers’ Transaction Volumes (Million), 2012-2016 56

Table 51: Spain, Acquirers’ Transaction Values (EUR Billion), 2012-2016 57

Table 52: Spain, Acquirers’ Transaction Values (US$ Billion), 2012-2016 57

Table 53: Spain, Retail Outlets and Card-Accepting Merchants (Thousand), 2012-2020 57

Table 54: Spain, Debit Card Average Interchange Fees (%), 2012-2016 57

Table 55: Spain, Debit Card Merchant Service Charge and Interchange Fee (%), 2012-2020 58

Table 56: Spain, Pay Later Card Average Interchange Fees (%), 2012-2016 58

Table 57: Spain, Pay Later Card Merchant Service Charge and Interchange Fee (%), 2012-2020 58

Table 58: Definitions of Commonly Used Terms 59

Table 59: Common Features of Payment Cards 60

List of figures

List of Figures

Figure 1: Spain, Payment Instrument Shares by Transaction Value (%), 2012 vs 2016 11

Figure 2: Spain, Payment Instrument Shares by Transaction Volume ...

List of Figures

Figure 1: Spain, Payment Instrument Shares by Transaction Value (%), 2012 vs 2016 11

Figure 2: Spain, Payment Instrument Shares by Transaction Volume (%), 2012 vs 2016 12

Figure 3: Spain, E-Commerce Value 13

Figure 4: Spain, Population and Economic Indicators 24

Figure 5: Spain, ATMs, POS Terminals and Household Consumption 25

Figure 6: Spain, Payment Cards Transaction Value and Cards in Circulation, 2012-2020 27

Figure 7: Spain, Debit Card Penetration and Turnover Per Card 29

Figure 8: Spain, Debit Cards Scheme and Issuer Transaction Value Share, 2016 31

Figure 9: Spain, Pay Later Card Penetration and Turnover Per Card 34

Figure 10: Spain, Pay Later Cards Scheme and Issuer Transaction Value Share, 2016 36

Figure 11: Spain, Merchant Acquiring Transaction Volume and Value, 2012-2020 40

Figure 12: Spain, Acquirers’ Market Share in Terms of Transaction Volume and Value (%), 2016 41

Figure 13: Spain, Average Merchant Service Charge and Interchange Fee (%), 2012-2020 42

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