Indian Smart Card Market Offers Immense Opportunities
With large consumer base and huge untapped potential, India offers immense opportunities to smart card market players.
(prHWY.com) July 31, 2011 - Noida, India -- According to our research report, "Indian Payment Card Market Forecast to 2012", Indian payment card market has been continuously booming and is offering huge opportunities to both existing as well as new market players. The industry is continuously witnessing new developments with growing consumer preferences and rising middle-class base. Moreover, rising number of internet users and increasing availability of online transaction system will further boost the number of debit cards issued by the banks, which is forecasted to surge at a CAGR of 25% during FY2011-2013.
Our ongoing analysis revealed that the concept of chip-based payment cards is very new for India. Most of the cards used in the country are magnetic cards and only a small number of banks use chip cards. With a population more than 1 Billion, India is among the world's fastest growing smart card markets. A number of pilot projects have been launched across the country for the introduction of banking cards. Further, smart card market in financial services sector is still at a nascent stage and holds a huge potential for future growth.
Besides, our report has also covered every aspect of the Indian payment card market by segmenting it into debit cards, credit cards, prepaid cards, POS terminals, and ATM networks. To provide an in-depth analysis of the market, the credit card market is further segmented into premium credit cards and EMV cards.
"Indian Payment Card Market Forecast to 2012", provides an extensive research and rational analysis along with reliable statistics of the Indian payment card market. The report has thoroughly examined current market trends, industrial developments, and competitive landscape to enable clients understanding of the market structure and its progress in the coming years. Besides, the report presents brief overview of the key market players dominating the industry.
Future outlook presented in the report has been analyzed considering the probable post-recession impact on the industry. It will enable our clients to attain a proper insight into the current and future outlook of credit card market in developing economies.
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