GlobalData's 'Bulgaria Cards and Payments - Opportunities and Risks to 2023' report provides detailed analysis of market trends in the Bulgarian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, 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 'Bulgaria Cards and Payments: Opportunities and Risks to 2023' report provides top-level market analysis, information and insights into the Bulgarian cards and payments industry, including -
- Current and forecast values for each market in the Bulgarian cards and payments industry, including debit, credit, and charge cards.
- Detailed insights into payment instruments including credit transfers, direct debits, cheques, cash, and cards. 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 Bulgarian cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit, credit, and charge cards.
- Amid the coronavirus pandemic, in March 2020 Mastercard urged merchants to raise contactless payment limits across Europe. In Bulgaria, the limit was subsequently increased from BGN50 ($28.70) to BGN100 ($57.40). And in January 2020, Mastercard persuaded merchants to mandate the acceptance of contactless payment cards across all countries in Europe. This is anticipated to further drive the adoption of electronic methods of payments in the country.
- To increase card penetration in the country, banks are introducing more convenient methods for consumers to access personal banking services. For instance, United Bulgarian Bank (the Bulgarian subsidiary of KBC Bank) offers debit card issuance via its mobile banking app. Customers can apply for a debit card directly within the app and choose which branch they want to collect the card from. The app also enables users to reschedule the repayment of credit card balances across three to 12 installments.
- The entry of fintechs and digital-only banks is driving competition in the banking space, thus helping to boost debit card holding. In March 2019, UK-based Revolut launched current accounts in the local currency, the Bulgarian lev. In March 2020 it launched the Revolut Junior app to boost financial literacy among children.
Reasons to Buy
- Make strategic business decisions, using top-level historic and forecast market data, related to the Bulgarian cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in the Bulgarian cards and payments industry.
- Assess the competitive dynamics in the Bulgarian cards and payments industry.
- Gain insights into marketing strategies used for various card types in Bulgaria.
- Gain insights into key regulations governing the Bulgarian cards and payments industry.