Singapore Credit Cards Market Industry Size 2021 Development Status, Top Leaders, Future Plans and Opportunity Assessment Forecast to 2030

In a recent published report, Kenneth Research has updated the market report for Singapore Credit Cards Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Singapore Credit Cards Market products.

Download Sample of This Strategic Report: https://www.kennethresearch.com/sample-request-10079050

Singapore Credit Card Market report provides the insight into various payment cards industry trends and growth opportunities in Singapore along with the complete information about different type’s cards in the industry. It also offers an epitomized assessment about the competitors in the industry, influential marketing strategies, customer purchase patterns, adopted payment methods in the e-commerce industry and significant government regulations associated with Singapore credit card industry. Our report kindles the hidden opportunities with reliable information about the different types of cash transactions, volumes of cardholders, market share, current accounts, growth in the number of cards, credit cards outstanding balances, transactional values, details of the issuers along with available banking schemes and futuristic analysis of Singapore Credit card industry.

Singapore Credit Card Market was valued at USD 980 Million in the year 2019. Singapore Credit Card Market is further estimated to grow at a CAGR of 5.9% from 2019 to reach USD 1368 Million by the year 2025. Forecast of credit card transactions incoming which is anticipated to fall from 60% of current overall industry share to 36% as per the statistics of Worldpay, whereas, the debit card transactions are expected to rise. The industry trends with all types of payment options like debit card, online transfers and cash on delivery, which are expected to double their current growth from 9% as per WorldPay. E-wallet estimated a flat growth to contribute 10%. Various initiatives, for instance, NETS Unified POS system to integrate multiple payments mechanisms into one to avoid the struggle with multiple cards and encourage cashless transactions.

Initiation of smartphone manufacturer wallets like Samsung Pay, Apple Pay etc. pulling more number of youth populations toward their use affecting the current domination of debit card purchases and, thereby, the Credit Cards industry of Singapore.

The launch of alternative payments like Apple Pay, Samsung Pay and Android Pay has altered the competitive landscape of Singapore. To capitalize on the growing trend, various regional banks and telecom providers are introducing their own payment solutions. For instance, in November 2016, Liquid Group introduced Liquid Pay mobile wallet and reintroduced Dash in May 2016, with the support of telecom operator Singtel and banks like Standard Charted Bank, Citibank, DBS Bank, OCBC Bank, and UOB.

The contactless payment technology has been growing tremendously in the payment cards industry of Singapore due to the introduction of contactless cards by leading banks like DBS Bank, UOB, OCBC Bank, and Citibank. UOB has lifted the limitations on the transactions of SGD 100 (USD 69.1) for contactless payments in May 2016 to encourage more consumers toward its use. At the same time in June 2016, DBS Bank raised its payment limit for contactless cards from SGD 100 to SGD 200 (USD 138.2). Other banking firms are also planning to increase the contactless payments limit to attract more customers.

To add more, the Land Transport Authority of Singapore (LTA) has launched a pilot program in partnership with Mastercard to allow contactless payments of passengers for public transportation, using their credit or debit cards. Based on the feedback of this program, the system will be introduced in various locations of the country similar to transit payments of London and Sydney, promoting the contactless transactions in Singapore.

Major market players in Singapore Credit Cards Market DBS Bank, United Overseas Bank, Oversea-Chinese Banking Corporation Limited, Citibank Singapore, Standard Chartered Bank, and other some players provided in the report.

Download Sample of This Strategic Report: https://www.kennethresearch.com/sample-request-10079050

Singapore Credit Cards Market Segmentation:
Singapore Credit Cards Market Overview, By Payment Terminals
*Pos
*Atm’s

Singapore Credit Cards Market Overview, By End-User
*Cards for Students
*Cards for Travelers
*Cards for High-income Customers
*Cards for Frequent Shoppers

Singapore Credit Cards Market Overview, By Region
North America
*USA
*Canada
Europe
*Germany
*U.K.
*France
*Italy
*Rest of Europe
APAC
*China
*India
*Japan
*Rest of Asia-Pacific
RoW
*Latin America
*Middle East & Africa

Key points covered in this report:

  • The historical and current data is provided in the report based on which the future projections are made and the industry analysis is performed.
  • The import and export details along with consumption value and production capability of every region is mentioned in the report.
  • Porter’s five forces analysis, value chain analysis, SWOT analysis are some additional important parameters used for the analysis of market growth.
  • The report provides the clients with the facts and figures about the market on the basis of evaluation of the industry through primary and secondary research methodologies.
  • A number of graphs and charts are present in the report that give the clients a clear visual representation of the data and makes it easy to comprehend the report.

Table of Contents
1. Introduction
1.1 Industry Vision
1.2 Limitations
1.3 Stakeholders

2. Research Methodology
2.1. Research Process
2.1.1. Secondary Research
2.1.2. Primary Research
2.2. Industry Size Estimation
2.2.1. Bottoms-Up Approach
2.2.2. Top-Down Approach
2.2.3. Annual Turnover Process
2.3. Data Triangulation
2.4. Research Assumptions
2.4.1. Assumption
3. Executive Summary

4. Industry Overview
4.1. Introduction
4.2. Strength
4.3. Weakness
4.4. Opportunities
4.5. Threats

5. Industry Trends
5.1. Introduction
5.2. Porter’s Five Forces Analysis
5.2.1. Threat of New Entrants
5.2.2. Threat of Substitutes
5.2.3. Bargaining Power of Buyers
5.2.4. Bargaining Power of Suppliers
5.2.5. Intensity of Competitive Rivalry

6. Singapore Credit Cards Industry, By Payment Terminals
6.1. Pos
6.2. Atm’s

7. Singapore Credit Cards Industry Overview, By End-User
7.1. Cards for Students
7.2. Cards for Travelers
7.3. Cards for High-income Customers
7.4. Cards for Frequent Shoppers

8 Geographical Analysis
8.1. Introduction
8.2. Singapore

9. Company Profiles
9.1 United Overseas Bank
9.1.1 Company Overview
9.1.2 Financial Overview
9.1.3 Product Overview
9.1.4 Current Development
9.2 DBS Bank
9.3. Oversea-Chinese Banking Corporation Limited
9.4. Citibank Singapore
9.5. Standard Chartered Bank

About Kenneth Research

Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation

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