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Consumer Payments Country Snapshot: Sweden 2016
Published on: Dec 2016 | From USD $3450 | Published By: GLOBAL DATA | Number Of Pages: 38
Consumer Payments Country Snapshot: Sweden 2016
Summary
Sweden has the potential to become the world's first cashless society. The use of cash is declining quickly in Sweden and over half of all bank branches no longer deal with cash-based transactions. Payment cards are widely held and widely used in Sweden, and it has a strong alternative payments market.
Key Findings
- Credit cards remain one of the least frequently used card types in Sweden, even though they account for 43% of all payment cards.
- Fast internet and a high smartphone penetration rate have resulted in SEK134bn of online spend in 2015, which is expected to grow by 70% over the next five years.
- With the awareness of contactless increasing, and all new POS terminals from the beginning of 2017 having to be NFC-enabled, the popularity of the technology among both merchants and consumers will increase greatly over the next few years.
Synopsis
This report examines the consumer payments market in Sweden, considering payment cards, online payments, P2P payments, and newer payment technologies such as mobile wallets and contactless. This report also examines the regulations in force in the market that players must comply with, and how these have changed in recent years.
- Analyzes the major payment card types in terms of both card holding and usage.
- Identifies the major competitors in card issuing and how their positions in the market have changed over the last five years.
- Considers consumer attitudes towards prepaid cards, P2P tools, mobile payment tools, and contactless cards, and how companies in Sweden are deploying these tools to meet customer needs.
- Explores the online payment market in Sweden by merchant type and payment tool, as well as providing a five-year forecast for the development of the market.
- Considers the regulations affecting the payments market and how they are likely to affect both incumbents and disruptors.
Reasons To Buy
- Understand the key facts and figures in the consumer payments market in Sweden.
- Find out what products the major competitors are launching in the market and plan your strategy accordingly.
- Discover consumer sentiments towards various payment tools in the Swedish market and use this knowledge to inform product design.
- Learn about the key regulatory requirements affecting Swedish payments players and any recent or upcoming changes to those requirements.
MEGATRENDS
PROXIMITY PAYMENTS
REMOTE PAYMENTS
PAYMENTS INFRASTRUCTURE and REGULATION
APPENDIX
SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
FAQs
The process usually includes collection and interpretation of market data by using statistical and analytical techniques to support the decision making process.
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1. Choose a topic.
2. Make skeleton catalogue.
3. Fill content. As for report content, there are two main information source, Primary and Secondary data collection. Secondary data collectionrefers to information searched from the Internet or data bought from database. Primary data collection refers to information concluded from telephone interview, face-to-face interview, expert’s interview, meeting etc.
4. Audit the report
5. Publish the report.
With regard to information cost, information searching costs the least, database support the second least, and telephone interview the third least. Face-face interview cost higher, in-depth interview much higher and expert interview the highest. A research may adopt all of these approaches, or just some of them.
In general, a good-quality research report needs 1-3 months to be finished. Time and method varies according to different Publishers. Thus, it’s difficult to define an exact procedure or process of making research report. Both time and cost vary. However, specialization has become a basic industry standard. Professional and dedicated products will be more and more popular.
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