Vietnam Plastic Card Market Set to Grow at 18.5% CAGR

According to our research report “Vietnam Plastic Card Market Forecast to 2013”, despite its small size, Vietnam plastic card market is among the most dynamic markets in the world. The plastic card market in the country, which includes credit and debit card, has been witnessing tremendous growth for the past few years. Moreover, continuous rise in young population, technological developments, and emerging trends of e-commerce will further propel the industry momentum in the coming years. We expect that, the number of payment cards in Vietnam will surge at a CAGR of 18.5% during 2011-2014.

 

Our ongoing research found that, in the present scenario, Vietnamese people are increasingly using these payment cards in shopping malls and various on-line portals that carry luxury or world-class brands of consumer goods. This huge demand for payment cards is providing tremendous growth opportunities for card issuers, suppliers, and manufacturers.

 

Moreover, the payment card market in Vietnam is largely concentrated and is dominated by the four state-owned commercial banks: Vietinbank, Vietcombank, Agribank, and BIDV. Hence, there is a lot of potential for other banks also to enter into the cards business. Therefore, the market is full of future growth potential.

 

As per our report “Vietnam Plastic Card Market Forecast to 2013”, with the growing consumer awareness, there is ample scope for further developments in the Vietnamese payment cards market. Our research also indicates that, the country is still dominated by cash payments. However, continuous government support and rapidly rising population have significantly contributed in decreasing cash payments in the country and have encouraged people to use non-cash modes of payment.

 

Besides, our report analyzes the macroeconomic factors and also features future outlook of the payment card industry. It also includes detail analysis of the emerging market trends, current developments, and competitive landscape to enable clients better understand the market situation and its progress in coming years. Most importantly, the report focuses on the technological developments in the payment card market and tries to answer the crucial questions that concern every investor or player looking to enter the market.

For more information visit: http://www.rncos.com/Report/IM240.htm