Consumer Finance in Italy
Euromonitor International's Consumer Finance in Italy report establishes the size and structure of the market for ATMs, credit cards, debit cards, store cards and smart cards. It looks at key players in the market (issuers and operators), number of cards in circulation, numbers transactions and value of transactions. It offers strategic analysis of sector forecasts and trends to watch.
Buy online to access strategic market analysis and an interactive statistical database of value and volume for retail and internet transactions, number of cards in circulation and company brand shares.
Tables: 151 | Publication date: May 2009
Why buy this report
- Get insight into trends in market performance
- Pinpoint growth sectors and identify factors driving change
- Identify market and brand leaders and understand the competitive environment
Product coverage
Consumer lending; Financial cards and payments
Executive summary
Banks and operators to push level of usage among existing credit cards
In Italy many people still prefer to pay by cash or debit card. However, revolving credit cards have slowly gained acceptance in Italy and there are a high number of inactive cards in circulation. To incentive the use of existing but unused cards, operators such as Visa and MasterCard are focusing on advertising their products with expensive campaigns, such as “Love Every Day” and “Priceless” stressing that cards can be used for everyday purchases. Findomestic, the consumer credit market leader, also extensively advertised its Carta Aura card, highlighting the fact that revolving cards allow consumers to purchase without any limits.
Financial institutions enlarge their consumer base with pre-paid cards
The intense competition in the bank system encouraged financial card companies to seek to expand their consumer bases by targeting previously untapped, high-risk groups such as young people, immigrants and older adults. This has involved the introduction of products with built-in protection, such as pre-paid cards.
Older adults and immigrants took advantage of pre-paid cards, as in Italy it is neither easy nor cheap to open a bank account and pre-paid cards don’t need to be associated to a bank account. On the other hand, young people preferred pre-paid cards because they are ideal for on-line purchases and are useful when travelling abroad.
The Italian banking environment undergoes dramatic changes
Until a decade ago, the Italian banking system consisted of many specialised and/or local institutions, the majority of which were directly or indirectly under public control and a strict legal and regulatory framework hampered overdue consolidation and modernisation. In comparison with Europe, Italian banks were characterised by low profitability (several public institutions were running at a loss), lack of transparency, undercapitalisation and poor customer service. In response, the Italian banking industry started a process of full-scale bank consolidation in 2005 including the mergers of Banca Intesa and San Paolo Imi or UniCredit’s and Capitalia, and the acquisition of Banca Antonveneta by MPS. Banks are now stronger than they were in the past, and the consolidation is expected to bring synergies that will benefit both shareholders and consumers. In the forecast period, the Italian financial cards and consumer credit markets are expected to grow together alongside the Italian banking system, as competition among banks is expected to have a positive effect on saving accounts and more favourable conditions for consumers.
Innovative products to attract consumers
Innovation is increasingly being considered by both issuers and operators as a key factor in determining their progress in the financial cards market. Issuers continuously introduce new cards, widen their range of products on offer that are perfectly adapted to each type of customer. In particular, in the credit card segment, marketing tactics are usually innovative and very much focused on the conditions of the purchase, such as discounts on products, “0% interest rate”, postponing of the first payment. Operators were also very active in 2007/2008 in launching innovative products such as the new Visa V PAY chip & PIN debit card and MasterCard PayPass, a new “contactless” payment feature. Moreover, Poste Italiane, the Italian post Office, launched its new PosteMobile service provider and since the beginning of 2008, it has been possible to pay bills, send telegrams, top up and transfer money from BancoPosta accounts.
Table of contents
CONSUMER FINANCE IN ITALY : MARKET INSIGHT
EXECUTIVE SUMMARY
Banks and operators to push level of usage among existing credit cards
Financial institutions enlarge their consumer base with pre-paid cards
The Italian banking environment undergoes dramatic changes
Innovative products to attract consumers
KEY TRENDS AND DEVELOPMENTS
Elderly people prefer cash to credit cards
Financial institutions garner widespread databases on consumer habits
Mergers and acquisitions enliven the credit card market
SEPA and European harmonisation aid the Italian financial cards market
M-payments and e-commerce still at an early stage
MARKET DATA
Table 1 Consumer Payments: Value 2003-2008
Table 2 Financial Cards: Number of Cards in Circulation 2003-2008
Table 3 Financial Cards Transactions: Value 2003-2008
Table 4 Financial Cards: Number of Transactions 2003-2008
Table 5 Financial Cards: Number of Accounts 2003-2008
Table 6 Financial Cards: Number of Cards by Issuer 2003-2007
Table 7 Financial Cards: Number of Cards by Operator 2003-2007
Table 8 Financial Cards: Card Payment Transaction Value by Operator 2003-2007
Table 9 Financial Cards: Card Payment Transactions by Acquirer 2003-2007
Table 10 Consumer Payments Forecast: Value 2008-2013
Table 11 Financial Cards Forecast: Number of Cards in Circulation 2008-2013
Table 12 Financial Cards Forecast: Value 2008-2013
Table 13 Financial Cards Forecast: Number of Transactions 2008-2013
Table 14 Financial Cards Forecast: Number of Accounts 2008-2013
MARKET INDICATORS
Table 15 Number of POS Terminals 2004-2008
Table 16 Number of ATMs 2004-2008
Table 17 Disposable Income 2003-2008
Table 18 Value Lost to Fraud 2003-2008
Table 19 Acquirer Fraud 2003-2008
Table 20 Card Expenditure by Location 2008
Table 21 Card Expenditure by Sector 2008
Table 22 Financial Cards in Circulation by Type: % Number of Cards 2004-2008
Table 23 Domestic versus Foreign Spend 2008
DEFINITIONS
Summary 1 Research Sources
CONSUMER LENDING IN ITALY
EXECUTIVE SUMMARY
Italians continue to discover consumer credit facilities
Competition between financial institutions expected to bring better market conditions for consumers
New legislation on consumer credit
Banks are less restrictive than in the past with certain target groups
KEY TRENDS AND DEVELOPMENTS
Italian spending affected by weak consumer confidence
Specialist financial institutions and banks to boost consumer credit
Increase in market rates causes a slowdown in mortgages and consequently in gross lending
Banks and financial specialists to enlarge their consumer portfolio
Italians slowly becoming addicted to revolving card lending
MARKET DATA
Table 24 Consumer Lending By Sector: Outstanding Balance: Value 2003-2008
Table 25 Consumer Lending By Sector: Outstanding Balance: % Value Growth 2003-2008
Table 26 Consumer Lending By Sector: Gross Lending: Value 2003-2008
Table 27 Consumer Lending By Sector: Gross Lending: % Value Growth 2003-2008
Table 28 Consumer Lending: Non-performing vs Other Loans 2003-2008
Table 29 Mortgages/Housing: Non-performing vs Other Loans 2003-2008
Table 30 Consumer Credit: Non-performing vs Other Loans 2003-2008
Table 31 Forecast Consumer Lending By Sector: Outstanding Balance: Value 2008-2013
Table 32 Forecast Consumer Lending By Sector: Outstanding Balance: % Value Growth 2008-2013
Table 33 Forecast Consumer Lending By Sector: Gross Lending: Value 2008-2013
Table 34 Forecast Consumer Lending By Sector: Gross Lending: % Value Growth 2008-2013
DEFINITIONS
Summary 2 Research Sources
LOCAL COMPANY PROFILES - ITALY
CARTASI SPA - FINANCIAL CARDS AND PAYMENTS - ITALY
STRATEGIC DIRECTION
KEY FACTS
Summary 3 CartaSi SpA: Key Facts
Summary 4 CartaSi SpA: Operational Indicators
COMPANY BACKGROUND
COMPETITIVE POSITIONING
Summary 5 CartaSi SpA: Competitive Position 2007
DEUTSCHE BANK AG - FINANCIAL CARDS AND PAYMENTS - ITALY
STRATEGIC DIRECTION
KEY FACTS
Summary 6 Deutsche Bank SpA: Key Facts
Summary 7 Deutsche Bank SpA: Operational Indicators
COMPANY BACKGROUND
COMPETITIVE POSITIONING
Summary 8 Deutsche Bank SpA: Competitive Position 2007
FINDOMESTIC GRUPPO - FINANCIAL CARDS AND PAYMENTS - ITALY
STRATEGIC DIRECTION
KEY FACTS
Summary 9 Findomestic SpA: Key Facts
Summary 10 Findomestic Banca SpA: Operational Indicators
COMPANY BACKGROUND
COMPETITIVE POSITIONING
Summary 11 Findomestic Banca SpA: Competitive Position 2007
INTESA SAN PAOLO SPA - FINANCIAL CARDS AND PAYMENTS - ITALY
STRATEGIC DIRECTION
KEY FACTS
Summary 12 Intesa Sanpaolo SpA: Key Facts
Summary 13 Intesa Sanpaolo SpA: Operational Indicators
COMPANY BACKGROUND
COMPETITIVE POSITIONING
Summary 14 Intesa SanPaolo SpA: Competitive Position 2007
UNICREDIT BANCA SPA - FINANCIAL CARDS AND PAYMENTS - ITALY
STRATEGIC DIRECTION
KEY FACTS
Summary 15 UniCredit Banca SpA: Key Facts
Summary 16 UniCredit Banca SpA: Operational Indicators
COMPANY BACKGROUND
COMPETITIVE POSITIONING
Summary 17 UniCredit SpA: Competitive Position 2007
ATM TRANSACTIONS IN ITALY
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 35 ATM Cards Sector Performance: 2003-2008
Table 36 ATM Cards Sector Performance: Number of Cards in Circulation 2003-2008
Table 37 ATM Cards Sector Performance: % Growth 2003-2008
Table 38 ATM Cards in Circulation Sector Performance: % Growth 2003-2008
Table 39 ATM Cards Forecast Sector Performance: 2008-2013
Table 40 ATM Cards Forecast Sector Performance: Number of Cards in Circulation 2008-2013
Table 41 ATM Cards Forecast Sector Performance: % Growth 2008-2013
Table 42 ATM Cards in Circulation Forecast Sector Performance: % Growth 2008-2013
DEBIT TRANSACTIONS IN ITALY
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 43 Debit Cards Sector Performance: 2003-2008
Table 44 Debit Cards Sector Performance: Number of Cards in Circulation 2003-2008
Table 45 Debit Cards Sector Performance: % Growth 2003-2008
Table 46 Debit Cards in Circulation Sector Performance: % Growth 2003-2008
Table 47 Debit Cards: Number of Cards by Issuer 2003-2007
Table 48 Debit Cards: Number of Cards by Operator 2003-2007
Table 49 Debit Cards Transactions by Acquirer 2003-2007
Table 50 Debit Cards Payment Transaction Value by Operator 2003-2007
Table 51 Debit Cards Forecast Sector Performance: 2008-2013
Table 52 Debit Cards Forecast Sector Performance: Number of Cards in Circulation 2008-2013
Table 53 Debit Cards Forecast Sector Performance: % Growth 2008-2013
Table 54 Debit Cards in Circulation Forecast Sector Performance: % Growth 2008-2013
CREDIT CARD TRANSACTIONS IN ITALY
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 55 Credit Cards Sector Performance: 2003-2008
Table 56 Credit Cards Sector Performance: Number of Cards in Circulation 2003-2008
Table 57 Credit Cards Sector Performance: % Growth 2003-2008
Table 58 Credit Cards in Circulation Sector Performance: % Growth 2003-2008
Table 59 Personal Credit Cards Sector Performance: 2003-2008
Table 60 Personal Credit Cards Sector Performance: Number of Cards in Circulation 2003-2008
Table 61 Personal Credit Cards Sector Performance: % Growth 2003-2008
Table 62 Personal Credit Cards in Circulation Sector Performance: % Growth 2003-2008
Table 63 Commercial Credit Cards Sector Performance: 2003-2008
Table 64 Commercial Credit Cards Sector Performance: Number of Cards in Circulation 2003-2008
Table 65 Commercial Credit Cards Sector Performance: % Growth 2003-2008
Table 66 Commercial Credit Cards in Circulation Sector Performance: % Growth 2003-2008
Table 67 Credit Cards: Number of Cards by Issuer 2003-2007
Table 68 Credit Cards: Number of Cards by Operator 2003-2007
Table 69 Credit Cards Transactions by Acquirer 2003-2007
Table 70 Credit Cards Payment Transaction Value by Operator 2003-2007
Table 71 Personal Credit Cards Payment Transaction Value by Operator 2003-2007
Table 72 Commercial Credit Cards Payment Transaction Value by Operator 2003-2007
Table 73 Credit Cards Forecast Sector Performance: 2008-2013
Table 74 Credit Cards Forecast Sector Performance: Number of Cards in Circulation 2008-2013
Table 75 Credit Cards Forecast Sector Performance: % Growth 2008-2013
Table 76 Credit Cards in Circulation Forecast Sector Performance: % Growth 2008-2013
Table 77 Personal Credit Cards Forecast Sector Performance: 2008-2013
Table 78 Personal Credit Cards Forecast Sector Performance: Number of Cards in Circulation 2008-2013
Table 79 Personal Credit Cards Forecast Sector Performance: % Growth 2008-2013
Table 80 Personal Credit Cards in Circulation Forecast Sector Performance: % Growth 2008-2013
Table 81 Commercial Credit Cards Forecast Sector Performance: 2008-2013
Table 82 Commercial Credit Cards Forecast Sector Performance: Number of Cards in Circulation 2008-2013
Table 83 Commercial Credit Cards Forecast Sector Performance: % Growth 2008-2013
Table 84 Commercial Credit Cards in Circulation Forecast Sector Performance: % Growth 2008-2013
CHARGE CARD TRANSACTIONS IN ITALY
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 85 Charge Cards Sector Performance: 2003-2008
Table 86 Charge Cards Sector Performance: Number of Cards in Circulation 2003-2008
Table 87 Charge Cards Sector Performance: % Growth 2003-2008
Table 88 Charge Cards in Circulation Sector Performance: % Growth 2003-2008
Table 89 Personal Charge Cards Sector Performance: 2003-2008
Table 90 Personal Charge Cards Sector Performance: Number of Cards in Circulation 2003-2008
Table 91 Personal Charge Cards Sector Performance: % Growth 2003-2008
Table 92 Personal Charge Cards in Circulation Sector Performance: % Growth 2003-2008
Table 93 Commercial Charge Cards Sector Performance: 2003-2008
Table 94 Commercial Charge Cards Sector Performance: Number of Cards in Circulation 2003-2008
Table 95 Commercial Charge Cards Sector Performance: % Growth 2003-2008
Table 96 Commercial Charge Cards in Circulation Sector Performance: % Growth 2003-2008
Table 97 Charge Cards: Number of Cards by Issuer 2003-2007
Table 98 Charge Cards: Number of Cards by Operator 2003-2007
Table 99 Charge Cards Transactions by Acquirer 2003-2007
Table 100 Charge Cards Payment Transaction Value by Operator 2003-2007
Table 101 Personal Charge Cards Transaction Value by Operator 2003-2007
Table 102 Commercial Charge Cards Payment Transaction Value by Operator 2003-2007
Table 103 Charge Cards Forecast Sector Performance: 2008-2013
Table 104 Charge Cards Forecast Sector Performance: Number of Cards in Circulation 2008-2013
Table 105 Charge Cards Forecast Sector Performance: % Growth 2008-2013
Table 106 Charge Cards in Circulation Forecast Sector Performance: % Growth 2008-2013
Table 107 Personal Charge Cards Forecast Sector Performance: 2008-2013
Table 108 Personal Charge Cards Forecast Sector Performance: Number of Cards in Circulation 2008-2013
Table 109 Personal Charge Cards Forecast Sector Performance: % Growth 2008-2013
Table 110 Personal Charge Cards in Circulation Forecast Sector Performance: % Growth 2008-2013
Table 111 Commercial Charge Cards Forecast Sector Performance: 2008-2013
Table 112 Commercial Charge Cards Forecast Sector Performance: Number of Cards in Circulation 2008-2013
Table 113 Commercial Charge Cards Forecast Sector Performance: % Growth 2008-2013
Table 114 Commercial Charge Cards in Circulation Forecast Sector Performance: % Growth 2008-2013
GENERAL PURPOSE PRE-PAID CARD TRANSACTIONS IN ITALY
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 115 General Purpose Pre-paid Cards Sector Performance: 2003-2008
Table 116 General Purpose Pre-paid Cards Sector Performance: Number of Cards in Circulation 2003-2008
Table 117 General Purpose Pre-paid Cards Sector Performance: % Growth 2003-2008
Table 118 General Purpose Pre-paid Cards in Circulation Sector Performance: % Growth 2003-2008
Table 119 General Purpose Pre-paid Cards by Type: % Number of Cards 2004-2008
Table 120 General Purpose Pre-paid Cards: Number of Cards by Operator 2003-2007
Table 121 General Purpose Pre-paid Cards Transaction Value by Operator 2003-2007
Table 122 General Purpose Pre-paid Cards Forecast Sector Performance: 2008-2013
Table 123 General Purpose Pre-paid Cards Forecast Sector Performance: Number of Cards in Circulation 2008-2013
Table 124 General Purpose Pre-paid Cards Forecast Sector Performance: % Growth 2008-2013
Table 125 General Purpose Pre-paid Cards in Circulation Forecast Sector Performance: % Growth 2008-2013
STORE CARD TRANSACTIONS IN ITALY
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 126 Store Cards Sector Performance: 2003-2008
Table 127 Store Cards Sector Performance: Number of Cards in Circulation 2003-2008
Table 128 Store Cards Sector Performance: % Growth 2003-2008
Table 129 Store Cards in Circulation Sector Performance: % Growth 2003-2008
Table 130 Store Cards: Number of Cards by Issuer 2003-2007
Table 131 Store Cards Forecast Sector Performance: 2008-2013
Table 132 Store Cards Forecast Sector Performance: Number of Cards in Circulation 2008-2013
Table 133 Store Cards Forecast Sector Performance: % Growth 2008-2013
Table 134 Store Cards in Circulation Forecast Sector Performance: % Growth 2008-2013