EU Membership Transforms Lithuania’s Cards and Payments Industry - Banks Lead the Way : Ken Research

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EU Membership Transforms Lithuanias Cards and
Payments Industry- Banks Lead the Way
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• As an EU member, Lithuania was compelled to
  adopt the Single Euro Payments Area (SEPA)
  framework, which is slated to revolutionize its
  cards and payments industry.
• The banks and other card issuers are expected to
  cut down consumer benefit and card offerings
  because of reduction in the interchange fee
  revenues.
• This may result in increased financial burden on
  the consumer, as the banks and other card issuers
  will be on the lookout for new ways of generating
  revenue such as increased used of debit cards.
• Ken Research announced its latest publication on,
  The Cards and Payments Industry in Lithuania
  Emerging Trends and Opportunities to 2019, which
  provides a detailed analysis of the market trends
  in the cards and payments industry of Lithuania.
  The publication studies the value and volume of
  key performance indicators such as check
  payments, credit transfers, cash transactions,
  payment cards and direct debits made during
  2010-2014. It provides both review (2010-2014)
  and forecast (2015-2019) data for several
  sub-sectors of the industry. Additionally, the
  report profiles various issuers and schemes
  present in the industry, offering insight into
  the trends and activities that impact the
  competitive advantage of the industry
  participants.

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• The landscape of Lithuanias cards and payments
  industry underwent a significant change during
  January 2016, with the adoption and
  implementation of the SEPA framework. In
  addition, other regulations such as capping of
  interchange fees for debit and credit cards at
  0.2 and 0.3 respectively also came into effect.
  Together, all these changes are expected to have
  a significant impact on the profitability of
  payments card market, thereby compelling the
  banks and other card issuers to react
  accordingly. Fixing of a low upper-limit value of
  the allowed interchange fees that banks and other
  card issuers can charge has made it imperative
  for them to look for new means of generating
  revenue. As a result, it is anticipated that they
  will cut costs by reducing consumer benefits and
  card offerings, which in turn will increase the
  financial burden on the consumer. To reduce this
  financial burden and achieve better consumer
  participation, Lietuvos Bank, the central bank of
  Lithuania, has adopted various measures such as
  responsible lending regulations (RLR) and
  campaigns for promoting the use of electronic
  payment methods by consumers.

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• The RLR requires the banks and other card issuers
  to accurately assess the borrowers credit
  repayment capabilities before issuing the cards.
  This is projected to have a positive impact on
  the credit market health over the forecast
  period. In addition, banks are also striving to
  increase the number of customers using electronic
  payment methods such as debit cards, so that a
  higher volume of users can compensate for the
  loss of revenue due to reduced interchange views.
  As such, Lithuanias cards and payments industry
  is witnessing a shift towards the use of
  e-commerce and other innovative payment
  instruments such as the Mokipay mobile wallet,
  Paysafecard and Medicinos Bankas mobile wallet.

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• Global Cards and Payments Industry
• Staying strong in the face of economic slowdown,
  the global cards and payments industry is seeing
  growth in the volume of card transactions and
  other payments being made. This growth is driven
  by the advancement in digital technology and the
  emergence of nontraditional participants who
  offer compelling value propositions. Besides,
  there has been a shift in consumer preferences
  regarding the payment methods used in every day
  transactions. The major activities in the market
  are now targeted towards unbanked and underbanked
  consumers, who are migrating from traditional
  bank-based transactions to more digitized and
  user-friendly payment methods.
• Some of the significant factors governing the
  global cards and payments industry during this
  period include
• Demographic drivers
• Economic (micro and macro) drivers
• Infrastructure drivers
• Business drivers
• Regulatory measures (domestic and international)
  which impact both price realization and consumer
  experience
• Change in consumer preferences in terms of
  payment methods

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• Key Topics Covered in the Report
• Detailed analysis of Lithuanias cards and
  payments industry
• E-commerce market analysis
• Detailed insights into various payment
  instruments
• Comprehensive analysis of consumer attitudes and
  buying preferences
• Detailed analysis of competitive landscape of the
  Lithuanian cards and payments industry.
• Current and forecast values for each market in
  the industry, including credit and debit cards.
• Analysis of the regulatory framework and its
  impact

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• To know more on coverage, click on the link
  below
• https//www.kenresearch.com/banking-financial-serv
  ices-and-insurance/financial-services/cards-paymen
  ts-industry-lithuania/8426-93.html
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• Related Reports
• https//www.kenresearch.com/banking-financial-serv
  ices-and-insurance/financial-services/cards-paymen
  ts-industry-us-emerging-trends-2019/3456-93.html
• https//www.kenresearch.com/banking-financial-serv
  ices-and-insurance/financial-services/cards-paymen
  ts-industry-saudi-arabia/7336-93.html
•  
•  ContactKen ResearchAnkur Gupta, Head
  Marketing Communicationsquery_at_kenresearch.com
  91-124-4230204

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• SEO Key words
• Cards and payments industry in Lithuania
• Financial cards market industry Lithuania
• Debit Credit cards market Lithuania
• EMV cards industry Lithuania
• E-commerce Market Lithuania
• Competition Lithuania payments market

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