2.7% CAGR for Singapore credit card mar­ket

Customer Click - - RESEARCH NEWS - CREDIT CARD -

The P&S Mar­ket Re­search re­port titled ‘Singapore: Cards and Pay­ments Mar­ket Fore­cast to 2020’ ex­pects the Singapore credit card mar­ket to grow at a CAGR of 2.7% in the anal­y­sis pe­riod of 2015-2020. Though charge card seg­ment rep­re­sents a small por­tion of the Sin­ga­porean pay later card mar­ket, it is ex­pected to gain mo­men­tum due to ex­pected growth in the vol­ume of HNIS dur­ing the same pe­riod. Singapore has the 2nd high­est credit card pen­e­tra­tion (3.8 cards per per­son in 2014, with num­ber of cards in cir­cu­la­tion reach­ing 21.3 mil­lion while the to­tal pop­u­la­tion of the coun­try is 5.6 mil­lion) in the Asia-pa­cific re­gion. The Singapore pay­ment card mar­ket grew at 3.3% CAGR in terms of num­ber of cards in cir­cu­la­tion dur­ing 2012-2014. The credit card mar­ket in Singapore is con­cen­trated in terms of trans­ac­tion value with the 6 lead­ing is­suers ac­count­ing for a mar­ket share of 85% in 2014.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.