Usage of Prepaid Cards Surging in South Korea

With rising popularity of electronic banking and stupendous growth in information and technology, the number of payment cards has surged in South Korea. With no risk involved, prepaid cards are anticipated to show significant growth in future. This is because the use of gift cards, which are kind of prepaid cards, is now possible at shops accepting credit cards, so many people now prefer to present gift cards. According to our research report “South Korean Payment Card Market”, average daily use of prepaid cards is expected to surge at a CAGR of around 13% during 2009-2013.

 

We have found that, the per capita payment card issuance in the country has reached the second highest level in the world after the US. Despite a deep economic slump, use of bank cards are expected to grow at rapid pace owing to the enhancement of various benefits and expansion of scope available for settlements. However, debit cards are expected to show downtrend during the period. Our report has analyzed the debit card market and provides forecast for average daily debit cards transaction till 2013.

 

Our study reveals that credit card usage in South Korea has expanded rapidly during the past few years. Besides, we expect a very bright future of check cards in South Korea as the demand continues to grow. The current gloomy economic environment will not have any negative impact on the check cards; in fact, such an environment will stimulate the growth of such cards as they have comparatively less delinquency risk involved to issuers. Our report provides forecasts for credit cards as well as for check cards.

 

The South Korean government is likely to allow credit card companies to offer stock trading service to deregulate the financial services field. Our report has examined the emerging market trends like, trading services, recent developments, and their impact on the market. The report will help clients analyze the leading-edge opportunities, prospective customer base, key players, future outlook, and all other factors, which are critical to the success of a new entrant in the South Korean Payment Card Market.

For more information visit: http://www.rncos.com/Report/IM190.htm