The plastic card market has been growing in Vietnam at a rapid pace for the last few years. According to a recent research report by RNCOS, the commercial banks in the country are joining hands to beat foreign banks, the major threat to them. Besides, the Vietnamese banks are strengthening their competitiveness, adding more services, and coming up with enhanced technologies to compete with foreign counterparts and grab a bigger pie of the country’s expanding plastic card market. It is expected that such collaborations will further allow the banks to build a stronger and broader banking system with greater market access.
The report, “Vietnam Plastic Card Market Forecast to 2013”, says that a huge scope of development exists for credit, prepaid and debit cards in Vietnam. As per the findings of the study, debit cards will continue leading the market, and technological developments and e-commerce will keep on supporting the growth of the market in near future. With the rising banking penetration, government initiatives and employment opportunities, the payment card market in Vietnam is anticipated to grow at a CAGR of around 20.4% during 2011-2014.
The 45-page report provides an in-depth research and rational analysis of the payment card industry in Vietnam. It studies and analyzes the emerging trends, current developments, and competitive landscape of the industry to help clients understand the market structure, its dynamics and progress in the coming years. The study also includes the share of debit, credit and prepaid cards in the overall market, and foretells their prospective in Vietnam’s Plastic Card industry. The research specifically and carefully looks into technological developments and presents forecast to portray the industry’s clear picture to every investor or player who is looking to enter the market.
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