With the rise in consumer awareness and e-commerce activities, payment cards have gained considerable popularity in Vietnam in the last few years. According to “Vietnam Plastic Card Market Forecast to 2013”, the latest research report by RNCOS, the plastic card market in Vietnam is dominated by domestic cards, while the international card segment remains largely untapped and thus, offers immense opportunities. At present, Visa Card holds the majority share in the country’s international card market. The Visa Card Company, which has joined hands with many local and foreign banks in Vietnam, is expected to dominate the country’s international card market in future.
Vietnam’s plastic card market is one of the world’s fastest growing card markets, and the number of cards issued in the country nearly doubled during 2008-2010. The cards are being widely used in the country for shopping, and the huge demand for such cards is providing ample growth opportunities to card issuers, suppliers, and manufacturers. The report anticipates that with an increase in acceptance of credit cards, banking penetration and employment opportunities in Vietnam, the plastic cards will grow in volume terms at a CAGR of around 18.5% during 2011-2014.
With an aim to present a clear picture of Vietnam’s Plastic Card Market, the report analyzes the emerging market trends, and discusses the major card issuers. It also covers the profiles of international credit card market players like Visa, American Express and Master Card. A look at Macro-economic factors and future outlook of the industry are the vital parts of the research. The technological developments discussed with respect to the payment card market will provide useful information to those investors or players who are planning to enter the market.
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