Growing Presence of Foreign Banks in Vietnam Plastic Card Market

Press release   •   Dec 28, 2011 11:34 IST

According to our recent report, “Vietnam Plastic Card Market Forecast to 2013”, the Vietnamese payment card market is regarded as one of the most lucrative and underpenetrated payment card markets across the globe and provides brilliant growth opportunities. The total number of cards issued in the country nearly doubled during 2008-2010. With the rising consumer awareness, technological developments, and rising trend of e-commerce, payment cards in Vietnam has gained considerable popularity over the last few years. Moreover, with continuous rise in young population, Vietnamese payment card market, which includes both credit cards and debit cards, has been growing rapidly for the past few years and is expected to post a CAGR of over 18% during the forecast period (2011-2014).

As per our research, many foreign banks are trying to enter the country’s banking sector following the WTO agreement. Moreover, the well-established foreign banks like Standard Chartered Bank is seeking permission to further expand in the country as the opening of new branches has become easier compared to the conditions prevalent few years ago. Apart from Standard Chartered Bank, many more similar applications have also come to ask SBV’s permission for establishing subsidiaries in Vietnam.

Our report entails detail analysis of emerging market trends, like market potential, rising non-cash payments, market consolidation, and so on. It also elaborates current developments in the market along with central bank’s role in encouraging non-cash transactions in the country, which will enable clients with a better understanding of the market situation.

Our report, “Vietnam Plastic Card Market Forecast to 2013”, lays special emphasis on the business description of key players operating in the country and also reveals their recent activities. It has identified major players in each of the segments discussed in the report, such as debit cards, credit cards, etc. It also illustrates key macroeconomic factors and also features future outlook of the payment card industry. In addition, 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 FREE SAMPLE of this report visit: http://www.rncos.com/Report/IM240.htm

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