Credit Card Payment Markets to Watch in 2012
Euromonitor International took a look at the markets that are expected to show the most card payment volume growth in 2012. Emerging markets account for all of the slots on Euromonitor International’s list of the top 10 card payment growth markets for 2012. While this is certainly not a surprise, what is important to note is the shift happening among emerging markets for card payment leadership status.
The BRICs’ long domination of the card payment growth storyline appears to be giving way a bit to the rise of powerful growth stories in markets such as Vietnam, Turkey and the Philippines. The BRICs may own the absolute volume advantage, but these markets possess compelling growth stories.
Turkey, while positioned as the second highest growth market behind Vietnam, exhibits higher reliance on plastic than almost any other market on the list. Roughly 37% of all consumer payment volume in Turkey is attributed to plastic — with a major emphasis on credit cards.
Out of the countries researched by Euromonitor International, Vietnam is projected to be the fastest growing market for card payment volume over the next year. China is growing fast into a major card player on the global stage.
Debt-free products like debit and pre-paid cards are the two card functions carrying much of the growth in these markets.
View the original article here: Markets to Watch for Credit Card Payment Growth