MarketResearchReports.com: Bahrain’s Cards and Payments Industry: Market Size, Trends and Drivers, Strategies

Steady economic growth, a rise in the banked population, and improvements in payment infrastructure are resulting in the growing popularity of card payments in Bahrain. In terms of number of cards, Bahrain’s card payments channel recorded strong growth at a CAGR of 11.08% during the review period (2008–2012). This was mainly driven by growth in the prepaid and debit card categories. The total number of cards in circulation increased from 654,118 in 2008 to 996,028 in 2012. Over the forecast period (2013–2017), the card payments channel is forecast to grow at a CAGR of 5.20%, from 1.1 million cards in 2013 to 1.3 million cards in 2017.

For more information visit:  Emerging Opportunities in Bahrain’s Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape

The prepaid cards category is growing rapidly in Bahrain. Although prepaid cards held a low share of 8.8% in 2012, it recorded a CAGR of 28.29% in terms of number of cards in circulation during the review period. The number of prepaid cards in circulation grew from 32,321 in 2008 to 87,558 in 2012. It is projected to record a CAGR of 17.27% over the forecast period. The increasing preference for Islamic banking provides high growth potential for prepaid cards as it is compliant with Islamic Sharia law.

The report provides market analysis, information and insights into Bahrain’s cards and payments market, including:

  • Current and forecast values for each category of Bahrain’s cards and payments industry including debit cards, credit cards, prepaid cards and charge cards
  • Comprehensive analysis of the industry’s market attractiveness and future growth areas
  • Analysis of various market drivers and regulations governing Bahrain’s cards and payments industry
  • Detailed analysis of the marketing strategies adopted for selling debit, credit, charge and prepaid cards used by various bankers and other institutions in the market
  • Comprehensive analysis of consumer attitudes and their buying preferences for cards
  • Competitive landscape of Bahrain’s cards and payments industry

Scope

  • This report provides a comprehensive analysis of Bahrain’s cards and payments industry
  • It provides current values for Bahrain’s cards and payments industry for 2012 and forecast figures for 2017
  • It details the different macroeconomic, infrastructural, consumer and business drivers affecting Bahrain’s cards and payments industry
  • It outlines the current regulatory framework in the industry
  • It details the marketing strategies used by various bankers and other institutions
  • It profiles the major banks in Bahrain’s cards and payments industry

Reasons To Buy

  • Make strategic business decisions using historic and forecast market data related to Bahrain’s cards and payments industry and each market within it
  • Understand the key market trends and growth opportunities within Bahrain’s cards and payments industry
  • Assess the competitive dynamics in Bahrain’s cards and payments industry
  • Gain insights into the marketing strategies used for selling various types of cards in Bahrain
  • Gain insights into key regulations governing Bahrain’s cards and payments industry

Key Highlights

  • The total number of cards in Bahrain increased from 654,118 in 2008 to 996,028 in 2012, at a review-period CAGR of 11.08%. Over the forecast period, the number of cards in circulation is anticipated to increase at a CAGR of 5.20%, from 1.1 million in 2013 to 1.3 million in 2017.
  • E-commerce is gaining popularity due to the increasing number of internet users. The value of e-commerce increased at a CAGR of 13.16% during the review period to reach US$212.8 million in 2012. As more customers use cards for e-commerce payments, growth in this sector will have a positive impact on card payments.
  • The Central Bank of Bahrain (CBB) enforced the adoption of enhanced security standards and compliance with Europay MasterCard Visa (EMV) requirements. Banks in Bahrain have completed migration of their card products from the traditional magnetic stripe to EMV chip technology in accordance with the regulation.
  • Retail sales increased from US$5.0 billion in 2011 to US$5.4 billion in 2012. During the review period, retail sales in Bahrain increased at a CAGR of 6.28%, from US$4.2 billion in 2008 to US$5.4 billion in 2012. This growth was mainly driven by rising disposable income, stable economic growth and growing organized retail. Steady growth in retail is encouraging companies to expand their retail outlets in the country.

For more information visit:  Emerging Opportunities in Bahrain’s Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape

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MarketResearchReports.com: 2020 Foresight: Bancassurance

In the consolidating world of financial services, the concept of bancassurance has taken a central role in the strategy of a growing number of financial institutions. Insurance products distributed through the banking channel have become a natural choice for mass-market clients looking for simple and low-cost products available from a trusted financial institution. Globally, bancassurance has emerged as an important insurance distribution channel that has not only allowed insurance companies to expand their geographical presence but also enabled banks to expand their overall product portfolio. The value of commissions earned through bancassurance is expected to grow globally. The key markets with high growth prospects include India, Singapore, Turkey, China and Chile. In Asia-Pacific, growth will be fostered by the entry of large foreign insurance players and a favorable macro-economic environment. In Turkey, the business is expected to grow owing to the growing demand for pension products in the country.

For more information visit:  2020 Foresight: Bancassurance

The report provides market analysis, information and insights into bancassurance:

  • Global snapshot of the bancassurance concept in the insurance industry and its market share in various regions across the world
  • Comprehensive analysis of the industry’s market attractiveness and future growth areas
  • Analysis of various market drivers and regulations governing bancassurance in the insurance industry
  • Detailed analysis of the marketing strategies adopted for selling life, non-life and personal accident and health insurance products through the bancassurance distribution channel
  • Comprehensive analysis of market segmentation and the number of policies and schemes sold through bancassurance in various countries
  • Case studies of various key players in the insurance industry and their bancassurance strategies

Scope

  • This report provides a comprehensive analysis of the bancassurance concept prevailing in the insurance industry
  • It expands upon the current and future prospects for the insurance industry and the bancassurance distribution channel
  • It details the different infrastructural, consumer and business drivers affecting bancassurance in various countries across the world
  • It outlines the current regulatory framework impacting the bancassurance business of the insurance industry
  • It details the marketing strategies used by various insurers and other institutions
  • It profiles the major insurers in the insurance industry and their bancassurance strategies

Reasons To Buy

  • Make strategic business decisions using historic and forecast market data related to bancassurace in the insurance industry and each market within it
  • Understand the key market trends and growth opportunities within the insurance industry through the bancassurance distribution channel
  • Assess the competitive dynamics in the bancassurance business in the insurance industry
  • Gain insights into the marketing strategies used for selling various types of life, non-life and personal accident and health insurance products through bancassurance agreements
  • Gain insights into key regulations governing bancassurance by various national authorities in different countries

Key Highlights

• Bancassurance – the sale of retail insurance products to a commercial bank’s client base – has evolved different models since its origins in the European Union (EU) in the mid-1980s. The different models drive profitability, product design and operational challenges. The classic European model is an integrated one, with common ownership or some form of exclusive commitment between the insurance provider and bank distributor.

• In the US, despite early indications that bancassurance might achieve market penetration levels in life insurance comparable to the one-third share it has in Europe, banks have struggled to achieve a market share of 2% and essentially offer a range of third-party insurance products to provide choice to their clients. In contrast, in the booming markets of Asia-Pacific and Latin America, the market shares of the bank channel are rapidly approaching European levels.

• The recent financial crisis of 2007-9 has had a traumatic impact on global bancassurance. Sales of life and other long-term investment products have collapsed as banks prioritize deposits to replenish their liquidity, and clients flee the equity market in favor of liquidity and cash. Lower sales of non-life products reflect reduced volumes of consumer loans as clients deleverage.

• Bancassurance business drivers differ between geographical regions. The key business drivers in the Americas are high levels of bank penetration, the presence of large foreign players, the brand equity of banks, savings in the economy, financial deregulation, tax advantages and domestic credit availability. In Europe, bancassurance is driven by the growth of relationship banking, a favorable tax structure, a general decline in interest rates and the reduction in social security expenditure undertaken by governments.

For more information visit:  2020 Foresight: Bancassurance

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About Market Research Reports, Inc.

Market Research Reports, Inc. (www.MarketResearchReports.com) is the world’s leading source for market research reports and market data. We provide you with the latest market research reports on global markets, key industries, leading companies, new products and latest industry analysis & trends.

Press Contact:

Mr. Amitava Sen

General Manager – Sales & Marketing

Market Research Reports, Inc.

+91-8762746600

Phone: +1-302-703-7787

http://www.marketresearchreports.com

MarketResearchReports.com: 2020 Foresight Report: Retail Bank Loyalty Programs

Loyalty programs have emerged as one of the key marketing tools in the global retail banking industry. Retail banks offer a number of loyalty programs in developed economies, however many of these are commoditized. This has compelled banks to introduce innovative programs in order to remain both competitive and profitable. There is also an increased pressure on costs due to new regulatory trends in last five years. Loyalty programs are being viewed as an important revenue-driving tool and have been proven to reduce customer acquisition costs. Retail banking in emerging economies is still in its developmental stages, as illustrated by its relatively low loyalty program penetration rates. Traditionally, banks and other card issuers have offered reward programs based on a customer income level and demographic profile. Banks are now segmenting customers based on their lifestyle choices and purchasing behavior. The use of analytical tools to better understand consumer spending patterns and offer personalized reward programs has increased in terms of adoption rates. The approach allows card issuers to launch customized rather than blanket programs to all customers. This approach also helps to target and isolate the most profitable customers and phase out the programs that do not offer significant value to a bank’s overall business. Moreover, analytics are enabling banks to provide location-based, real-time discounts in collaboration with merchants. The successful implementation of analytic-based reward programs has become a key differentiating factor for banks.

For more information visit: 2020 Foresight Report: Retail Bank Loyalty Programs

The report provides market analysis, information and insights into retail bank loyalty programs:

  • Provides a global snapshot of loyalty programs adopted by retail banks in developing and developed economies in the banking industry
  • Analysis of retail bank loyalty programs trends and drivers and key operational opportunities and challenges faced
  • Detailed analysis of loyalty program product and marketing strategies globally
  • Analysis of loyalty program customer targeting and marketing strategies adopted by leading retail banks operating in various markets

Scope

  • This report provides a comprehensive analysis of marketing strategies adopted by retail banks to offer loyalty programs in developed and developing economies
  • It details trends and drivers of retail bank loyalty programs
  • It details various benefits available to and challenges faced by retail banks while offering loyalty programs
  • It details the customer targeting strategies adopted by retail banks to offer their loyalty programs across the globe
  • It provides case studies on retail bank loyalty programs and marketing strategies implemented by various retail banks and their outcomes

Reasons To Buy

  • Understand the dynamics of the retail bank loyalty programs landscape across the key markets worldwide
  • Assess the current and future opportunities of loyalty programs in the retail banking industry
  • Gain insights into the loyalty program marketing strategies adopted by retail banks.
  • Gain insight into various challenges faced by retail banks in offering loyalty programs and key marketing and product strategies across all the key markets

 Key Highlights

  • The global economic slowdown adversely affected the banking industry of key markets across the globe. To improve their financial performance, banks implemented cost-saving initiatives. As part of such initiatives, banks launched loyalty programs through low-cost channels such as mobile platforms and social media sites.
  • Since the increase in spending on loyalty programs is directly proportional to the growth of the card payments channel, banks recorded a positive growth in card usage volumes. During the review period, Australia’s card spending recorded a CAGR of 10.64% during 2008–2012. The UK, the US and France also recorded respective CAGRs of 2.89%, 3.76% and 4.05%, despite high saturation levels and a financial crisis.
  • Banking penetration in developed cities is high and competition has increased between banks and other non-banking entities such as private card issuers, non-banking financial companies (NBFC), mobile operators and retail chains. This has resulted in an enhanced focus on innovation and loyalty programs specific to a niche group of consumers. They have gone beyond a simple discount or reward schemes to more sophisticated experience-based personalized offerings.
  • Banks incur costs when offering loyalty programs. To reduce these costs, they build coalitions with merchants and retailers to collectively share the operational, branding and marketing expenses. From the customer point of view, the coalition enables them to earn and redeem reward points across a network of merchants as well as be entitled to program-specific rewards.
  • Banks are extensively using analytical tools to record consumer buying behavior and customize their reward programs accordingly. This results in a higher return on investment on each promotional campaign.

Browse More Banking & Finance Market Research Reports: Banking & Finance Market Research Reports

About Market Research Reports, Inc.

Market Research Reports, Inc. (www.MarketResearchReports.com) is the world’s leading source for market research reports and market data. We provide you with the latest market research reports on global markets, key industries, leading companies, new products and latest industry analysis & trends.

Press Contact:

Mr. Amitava Sen

General Manager – Sales & Marketing

Market Research Reports, Inc.

+91-8762746600

Phone: +1-302-703-7787

http://www.marketresearchreports.com