Credit Cards in South Africa

November 2020
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Overview:

Understand the latest market trends and future growth opportunities for the Credit Card Transactions industry in South Africa with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.

Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.

If you're in the Credit Card Transactions industry in South Africa, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.

The Credit Card Transactions in South Africa report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volume and value sizes, company and brand market shares
  • Five year forecasts of market trends and market growth
  • Robust and transparent research methodology, conducted in-country

This report answers:

  • What is the market size of Credit Card Transactions in South Africa?
  • What are the major trends key to understanding Credit Card Transactions in South Africa?
  • How has COVID-19, recession and macroeconomic volatility impacted the market?
  • How long will the market take to recover? What are the opportunities now?
  • How will political context and shifting cultural values shape future growth?
  • Where is future growth expected to be most dynamic?

Charge Cards in South Africa - Category analysis

Charge Cards in South Africa - Company Profile

KEY DATA FINDINGS

2020 IMPACT

Notable declines across the niche of charge cards due to lockdown
More notable declines for commercial charge cards in 2020 due to travel restrictions
Highly consolidated competitive landscape for charge cards

RECOVERY AND OPPORTUNITIES

Charge cards set to gradually recover depending on lifting of travel restrictions heading into 2021 and consumers’ concerns over air travel
Commercial charge cards set to be the weaker performer with competition from credit cards
Charge cards likely to remain consolidated niche but digitalisation within South African financial cards could drive innovation within the category

CATEGORY DATA

Table 1 Charge Cards: Number of Cards in Circulation 2015-2020 Table 2 Charge Cards Transactions 2015-2020 Table 3 Charge Cards in Circulation: % Growth 2015-2020 Table 4 Charge Cards Transactions: % Growth 2015-2020 Table 5 Commercial Charge Cards: Number of Cards in Circulation 2015-2020 Table 6 Commercial Charge Cards Transactions 2015-2020 Table 7 Commercial Charge Cards in Circulation: % Growth 2015-2020 Table 8 Commercial Charge Cards Transactions: % Growth 2015-2020 Table 9 Personal Charge Cards: Number of Cards in Circulation 2015-2020 Table 10 Personal Charge Cards Transactions 2015-2020 Table 11 Personal Charge Cards in Circulation: % Growth 2015-2020 Table 12 Personal Charge Cards Transactions: % Growth 2015-2020 Table 13 Charge Cards: Number of Cards by Issuer 2015-2019 Table 14 Charge Cards: Number of Cards by Operator 2015-2019 Table 15 Charge Cards Payment Transaction Value by Issuer 2015-2019 Table 16 Charge Cards Payment Transaction Value by Operator 2015-2019 Table 17 Commercial Charge Cards: Number of Cards by Issuer 2015-2019 Table 18 Commercial Charge Cards: Number of Cards by Operator 2015-2019 Table 19 Commercial Charge Cards Payment Transaction Value by Issuer 2015-2019 Table 20 Commercial Charge Cards Payment Transaction Value by Operator 2015-2019 Table 21 Personal Charge Cards: Number of Cards by Issuer 2015-2019 Table 22 Personal Charge Cards: Number of Cards by Operator 2015-2019 Table 23 Personal Charge Cards Transaction Value by Issuer 2015-2019 Table 24 Personal Charge Cards Transaction Value by Operator 2015-2019 Table 25 Forecast Charge Cards: Number of Cards in Circulation 2020-2025 Table 26 Forecast Charge Cards Transactions 2020-2025 Table 27 Forecast Charge Cards in Circulation: % Growth 2020-2025 Table 28 Forecast Charge Cards Transactions: % Growth 2020-2025 Table 29 Forecast Commercial Charge Cards: Number of Cards in Circulation 2020-2025 Table 30 Forecast Commercial Charge Cards Transactions 2020-2025 Table 31 Forecast Commercial Charge Cards in Circulation: % Growth 2020-2025 Table 32 Forecast Commercial Charge Cards Transactions: % Growth 2020-2025 Table 33 Forecast Personal Charge Cards: Number of Cards in Circulation 2020-2025 Table 34 Forecast Personal Charge Cards Transactions 2020-2025 Table 35 Forecast Personal Charge Cards in Circulation: % Growth 2020-2025 Table 36 Forecast Personal Charge Cards Transactions: % Growth 2020-2025

Credit Cards in South Africa - Category analysis

Credit Cards in South Africa - Company Profile

KEY DATA FINDINGS

2020 IMPACT

Declines across credit cards due to concerns relating to over-indebtedness but personal credit card utilisation significantly rises in 2020
Payment relief for struggling consumers introduced by banks during initial lockdown period
Consolidated competitive landscape within credit cards but digital banks gain momentum during lockdown

RECOVERY AND OPPORTUNITIES

Slow start to recovery with credit cards unlikely to surpass pre-pandemic levels until 2025 in terms of transaction value
Credit cards set to become increasingly competitive landscape as main issuers look to maintain customers and address threat of dynamic digital banks
Value lost to fraud likely to drive greater security measures to attract customers

CATEGORY DATA

Table 37 Credit Cards: Number of Cards in Circulation 2015-2020 Table 38 Credit Cards Transactions 2015-2020 Table 39 Credit Cards in Circulation: % Growth 2015-2020 Table 40 Credit Cards Transactions: % Growth 2015-2020 Table 41 Commercial Credit Cards: Number of Cards in Circulation 2015-2020 Table 42 Commercial Credit Cards Transactions 2015-2020 Table 43 Commercial Credit Cards in Circulation: % Growth 2015-2020 Table 44 Commercial Credit Cards Transactions: % Growth 2015-2020 Table 45 Personal Credit Cards: Number of Cards in Circulation 2015-2020 Table 46 Personal Credit Cards Transactions 2015-2020 Table 47 Personal Credit Cards in Circulation: % Growth 2015-2020 Table 48 Personal Credit Cards Transactions: % Growth 2015-2020 Table 49 Credit Cards: Number of Cards by Issuer 2015-2019 Table 50 Credit Cards: Number of Cards by Operator 2015-2019 Table 51 Credit Cards Payment Transaction Value by Issuer 2015-2019 Table 52 Credit Cards Payment Transaction Value by Operator 2015-2019 Table 53 Commercial Credit Cards: Number of Cards by Issuer 2015-2019 Table 54 Commercial Credit Cards: Number of Cards by Operator 2015-2019 Table 55 Commercial Credit Cards Payment Transaction Value by Issuer 2015-2019 Table 56 Commercial Credit Cards Payment Transaction Value by Operator 2015-2019 Table 57 Personal Credit Cards: Number of Cards by Issuer 2015-2019 Table 58 Personal Credit Cards: Number of Cards by Operator 2015-2019 Table 59 Personal Credit Cards Payment Transaction Value by Issuer 2015-2019 Table 60 Personal Credit Cards Payment Transaction Value by Operator 2015-2019 Table 61 Forecast Credit Cards: Number of Cards in Circulation 2020-2025 Table 62 Forecast Credit Cards Transactions 2020-2025 Table 63 Forecast Credit Cards in Circulation: % Growth 2020-2025 Table 64 Forecast Credit Cards Transactions: % Growth 2020-2025 Table 65 Forecast Commercial Credit Cards: Number of Cards in Circulation 2020-2025 Table 66 Forecast Commercial Credit Cards Transactions 2020-2025 Table 67 Forecast Commercial Credit Cards in Circulation: % Growth 2020-2025 Table 68 Forecast Commercial Credit Cards Transactions: % Growth 2020-2025 Table 69 Forecast Personal Credit Cards: Number of Cards in Circulation 2020-2025 Table 70 Forecast Personal Credit Cards Transactions 2020-2025 Table 71 Forecast Personal Credit Cards in Circulation: % Growth 2020-2025 Table 72 Forecast Personal Credit Cards Transactions: % Growth 2020-2025

Debit Cards in South Africa - Category analysis

Debit Cards in South Africa - Company Profile

KEY DATA FINDINGS

2020 IMPACT

Rising unemployment and weak consumer sentiment as a result of the pandemic reduces usage and spending via debit cards in 2020 due to greater focus on essential goods
Number of debit cards continues to rise supported by move away from cash during pandemic with greater uptake of contactless smart cards
Consolidated competitive landscape within debit cards amongst major issuers but end of review period sees a number of disruptive digital banks enter

RECOVERY AND OPPORTUNITIES

Stronger performance predicted for debit cards over the course of the forecast period, driven by drive to attract unbanked in a further move away from cash
Leading banks likely to look to digital tools to improve customer service in the face of growing competition from digital banks
Increasing popularity of mobile m-commerce to be supported by investment by leading banks

CATEGORY DATA

Table 73 Debit Cards: Number of Cards in Circulation 2015-2020 Table 74 Debit Cards Transactions 2015-2020 Table 75 Debit Cards in Circulation: % Growth 2015-2020 Table 76 Debit Cards Transactions: % Growth 2015-2020 Table 77 Debit Cards: Number of Cards by Issuer 2015-2019 Table 78 Debit Cards: Number of Cards by Operator 2015-2019 Table 79 Debit Cards Payment Transaction Value by Issuer 2015-2019 Table 80 Debit Cards Payment Transaction Value by Operator 2015-2019 Table 81 Forecast Debit Cards: Number of Cards in Circulation 2020-2025 Table 82 Forecast Debit Cards Transactions 2020-2025 Table 83 Forecast Debit Cards in Circulation: % Growth 2020-2025 Table 84 Forecast Debit Cards Transactions: % Growth 2020-2025

Pre-Paid Cards in South Africa - Category analysis

Pre-Paid Cards in South Africa - Company Profile

KEY DATA FINDINGS

2020 IMPACT

Number of open loop pre-paid cards continues to rise, boosted by increasing number of unbanked demanding access to government relief funding as result of pandemic
More significant declines for closed loop pre-paid cards in 2020 due to dominance of transportation cards, with latter impacted by lockdown
Consolidated competitive landscape with South African Postbank now issuing SASSA grants

RECOVERY AND OPPORTUNITIES

More positive outlook for pre-paid cards from 2021 onwards but average spend per transaction unlikely to return to pre-pandemic levels
Despite rising closed loop pre-paid card numbers, contactless technology could offer further competition as it continues to develop in the country
Digitalisation trend likely to further influence development of pre-paid cards

CATEGORY DATA

Table 85 Pre-paid Cards: Number of Cards in Circulation 2015-2020 Table 86 Pre-paid Cards Transactions 2015-2020 Table 87 Pre-paid Cards in Circulation: % Growth 2015-2020 Table 88 Pre-paid Cards Transactions: % Growth 2015-2020 Table 89 Closed Loop Pre-paid Cards Transactions 2015-2020 Table 90 Closed Loop Pre-paid Cards Transactions: % Growth 2015-2020 Table 91 Open Loop Pre-paid Cards Transactions 2015-2020 Table 92 Open Loop Pre-paid Cards Transactions: % Growth 2015-2020 Table 93 Pre-paid Cards: Number of Cards by Issuer 2015-2019 Table 94 Pre-paid Cards: Number of Cards by Operator 2015-2019 Table 95 Pre-paid Cards Transaction Value by Issuer 2015-2019 Table 96 Pre-paid Cards Transaction Value by Operator 2015-2019 Table 97 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2015-2019 Table 98 Closed Loop Pre-paid Cards: Number of Cards by Operator 2015-2019 Table 99 Closed Loop Pre-paid Cards Transaction Value by Issuer 2015-2019 Table 100 Closed Loop Pre-paid Cards Transaction Value by Operator 2015-2019 Table 101 Open Loop Pre-paid Cards: Number of Cards by Issuer 2015-2019 Table 102 Open Loop Pre-paid Cards: Number of Cards by Operator 2015-2019 Table 103 Open Loop Pre-paid Cards Transaction Value by Issuer 2015-2019 Table 104 Open Loop Pre-paid Cards Transaction Value by Operator 2015-2019 Table 105 Forecast Pre-paid Cards: Number of Cards in Circulation 2020-2025 Table 106 Forecast Pre-paid Cards Transactions 2020-2025 Table 107 Forecast Pre-paid Cards in Circulation: % Growth 2020-2025 Table 108 Forecast Pre-paid Cards Transactions: % Growth 2020-2025 Table 109 Forecast Closed Loop Pre-paid Cards Transactions 2020-2025 Table 110 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2020-2025 Table 111 Forecast Open Loop Pre-paid Cards Transactions 2020-2025 Table 112 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2020-2025

Store Cards in South Africa - Category analysis

Store Cards in South Africa - Company Profile

KEY DATA FINDINGS

2020 IMPACT

Closure of non-essential stores during lockdown significantly impacts store cards in 2020 but cards linked to purchase of groceries likely to fare better
Retailers encourage consumers to use store cards online during pandemic in line with general switch towards e-commerce
Fairly fragmented competitive landscape in terms of store cards in circulation, with pandemic having varying impact on issuers

RECOVERY AND OPPORTUNITIES

Gradual improvement predicted for store cards over the course of the forecast period, although transaction value unlikely to return to pre-pandemic levels
Issuers likely to remain cautious regarding amount of credit they offer customers due to concerns over bad debt
Digitalisation trend could offer issuers further scope for development

CATEGORY DATA

Table 113 Store Cards: Number of Cards in Circulation 2015-2020 Table 114 Store Cards Transactions 2015-2020 Table 115 Store Cards in Circulation: % Growth 2015-2020 Table 116 Store Cards Transactions: % Growth 2015-2020 Table 117 Store Cards: Number of Cards by Issuer 2015-2019 Table 118 Store Cards: Payment Transaction Value by Issuer 2015-2019 Table 119 Forecast Store Cards: Number of Cards in Circulation 2020-2025 Table 120 Forecast Store Cards Transactions 2020-2025 Table 121 Forecast Store Cards in Circulation: % Growth 2020-2025 Table 122 Forecast Store Cards Transactions: % Growth 2020-2025

Financial Cards and Payments in South Africa - Industry Overview

EXECUTIVE SUMMARY

COVID-19 impact on consumer payments
COVID-19 country impact
Number of open loop pre-paid cards continues to rise in 2020 due to use of government benefit cards and financial assistance in the form of grants
M-commerce continues to record impressive performance driven by further move towards digitalisation and driven by affluent, younger, tech-savvy consumers
Consolidated competitive landscape with pandemic set to impact a number of players in varying ways
What next for consumer payments?

MARKET INDICATORS

Table 123 Number of POS Terminals: Units 2015-2020 Table 124 Number of ATMs: Units 2015-2020 Table 125 Value Lost to Fraud 2015-2020 Table 126 Card Expenditure by Location 2020 Table 127 Financial Cards in Circulation by Type: % Number of Cards 2015-2020 Table 128 Domestic versus Foreign Spend 2020

MARKET DATA

Table 129 Financial Cards by Category: Number of Cards in Circulation 2015-2020 Table 130 Financial Cards by Category: Number of Accounts 2015-2020 Table 131 Financial Cards Transactions by Category: Value 2015-2020 Table 132 Financial Cards by Category: Number of Transactions 2015-2020 Table 133 Consumer Payments by Category: Value 2015-2020 Table 134 Consumer Payments by Category: Number of Transactions 2015-2020 Table 135 M-Commerce by Category: Value 2015-2020 Table 136 M-Commerce by Category: % Value Growth 2015-2020 Table 137 Financial Cards: Number of Cards by Issuer 2015-2019 Table 138 Financial Cards: Number of Cards by Operator 2015-2019 Table 139 Financial Cards: Card Payment Transactions Value by Operator 2015-2019 Table 140 Financial Cards: Card Payment Transactions Value by Issuer 2015-2019 Table 141 Forecast Financial Cards by Category: Number of Cards in Circulation 2020-2025 Table 142 Forecast Financial Cards by Category: Number of Accounts 2020-2025 Table 143 Forecast Financial Cards Transactions by Category: Value 2020-2025 Table 144 Forecast Financial Cards by Category: Number of Transactions 2020-2025 Table 145 Forecast Consumer Payments by Category: Value 2020-2025 Table 146 Forecast Consumer Payments by Category: Number of Transactions 2020-2025 Table 147 Forecast M-Commerce by Category: Value 2020-2025 Table 148 Forecast M-Commerce by Category: % Value Growth 2020-2025

DISCLAIMER

GLOBAL MACROECONOMIC ENVIRONMENT

GLOBAL INDUSTRY ENVIRONMENT

SOURCES

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This report originates from Passport, our Credit Card Transactions research and analysis database.

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