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Country Report

Credit Card Transactions in

Credit Cards in South Africa

Nov 2019

US$990

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Executive Summary

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If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

PROSPECTS

Controversial bill is passed to offer relief to debtors, but brings protests from banks

Credit card transactions continued to record strong growth in current value terms (driven by personal credit cards), while the rate of growth in the number of credit cards being issued marginally slowed. With the increasing cost of living not being matched by salary increases, mid-income consumers are struggling to afford the lifestyles to which they have become accustomed, turning to consumer credit to fund purchases.

Consumers alerted to need for extra vigilance following rising cases of fraud relating to credit card usage

Increasing card usage amongst the local population has been accompanied by rising cases of fraud with card not present and counterfeit cards continuing to account for the highest levels of value lost to fraud; credit cards remained the most affected by this issue over the review period. According to a report from the Ombudsman for banking services, elderly South Africans are the most targeted group, with ID fraud higher amongst this particular demographic.

Further competition from smaller players likely to encourage greater reward schemes

While there was notable growing use of credit card spending on fairly low value transactions in retailers and consumer foodservice outlets over the review period in addition to increasing popularity as a payment method for travel-related services, or car-related spending, an improved economy moving forward is likely to lead to consumers relying less on their credit cards for daily expenditure. As a response to this challenge, banks are expected to increasingly attempt to attract consumers to their products and services through reward systems, such as newly-emerged player Discovery Bank, which offers its customers the chance to earn rewards through what it terms “responsible spending” through its three different Discovery cards, Black, Platinum and Gold, and high discounts off of flights, fuel at certain petrol stations and money back on Uber trips.

COMPETITIVE LANDSCAPE

Big four slowly lose share to emergence of new exciting players

The issuing of credit cards remained consolidated amongst the leading four players of Standard Bank of South Africa, FirstRand Bank, Absa Group and Nedbank Group in 2018. These banks benefit from strong brand equity in addition to strategic partnerships with major card operators such as Mastercard and Visa.

Capitec records impressive growth in first full year

In a similar scenario to the competitive landscape of debit cards, Capitec recorded the most impressive performance within credit cards in 2018 after its first full year in the category. The bank attracts consumers with its affordable fees, with an initiation fee of ZAR100, which is on average 58% lower than those offered by the four leading players.

New player Discovery Bank aims to attract higher number of customers through rewards

Initially launched in a partnership with First National Bank, which is now being phased out, up to 300,000 Discovery credit card users have been encouraged to move to its newly introduced Discovery Bank through a new app. Although there were a number of technical problems linked to customers attempting to sign up through the app, the bank promises that customers will be able to save rewards as cash through responsible use of their credit card, which they can bank in their Vitality Savings Account linked through the app with “Vitality Money”, Discovery’s answer to e-money.

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Overview

Why buy this report?

Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.

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Overview

Discover the latest market trends and uncover sources of future market growth for the Credit Card Transactions industry in South Africa with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Credit Card Transactions industry in South Africa, our research will save you time and money while empowering you to make informed, profitable decisions.

The Credit Card Transactions in South Africa market research report includes:

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

Our market research reports answer questions such as:

What is the market size of Credit Card Transactions in South Africa?
What are the major operators and issuers in South Africa?
What is the current state and expected evolution of consumer payment preference?
What payment instrument offers the highest growth potential?
What strategies and positioning have consumer finance companies utilized to win in the market?

Why buy this report?

Gain competitive intelligence about market leaders
Track key industry trends, opportunities and threats
Inform your marketing, brand, strategy and market development, sales and supply functions

Euromonitor’s industry reports, including Credit Card Transactions in South Africa, originate from our database within our Consumer Finance market share and market size database

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Charge Cards in South Africa - Category analysis

Charge Cards in South Africa - Company Profile

HEADLINES

PROSPECTS

Charge cards to remain a niche targeting affluent consumers

Stronger performance for commercial charge cards as corporate business look to control expenses

Personal charge cards to retain dominance over forecast period

COMPETITIVE LANDSCAPE

Limited competition within consolidated landscape

Diners Club targets specific new consumer group

CATEGORY DATA

Table 1 Charge Cards: Number of Cards in Circulation 2014-2019
Table 2 Charge Cards Transactions 2014-2019
Table 3 Charge Cards in Circulation: % Growth 2014-2019
Table 4 Charge Cards Transactions: % Growth 2014-2019
Table 5 Commercial Charge Cards: Number of Cards in Circulation 2014-2019
Table 6 Commercial Charge Cards Transactions 2014-2019
Table 7 Commercial Charge Cards in Circulation: % Growth 2014-2019
Table 8 Commercial Charge Cards Transactions: % Growth 2014-2019
Table 9 Personal Charge Cards: Number of Cards in Circulation 2014-2019
Table 10 Personal Charge Cards Transactions 2014-2019
Table 11 Personal Charge Cards in Circulation: % Growth 2014-2019
Table 12 Personal Charge Cards Transactions: % Growth 2014-2019
Table 13 Charge Cards: Number of Cards by Issuer 2014-2018
Table 14 Charge Cards: Number of Cards by Operator 2014-2018
Table 15 Charge Cards Payment Transaction Value by Issuer 2014-2018
Table 16 Charge Cards Payment Transaction Value by Operator 2014-2018
Table 17 Commercial Charge Cards: Number of Cards by Issuer 2014-2018
Table 18 Commercial Charge Cards: Number of Cards by Operator 2014-2018
Table 19 Commercial Charge Cards Payment Transaction Value by Issuer 2014-2018
Table 20 Commercial Charge Cards Payment Transaction Value by Operator 2014-2018
Table 21 Personal Charge Cards: Number of Cards by Issuer 2014-2018
Table 22 Personal Charge Cards: Number of Cards by Operator 2014-2018
Table 23 Personal Charge Cards Transaction Value by Issuer 2014-2018
Table 24 Personal Charge Cards Transaction Value by Operator 2014-2018
Table 25 Forecast Charge Cards: Number of Cards in Circulation 2019-2024
Table 26 Forecast Charge Cards Transactions 2019-2024
Table 27 Forecast Charge Cards in Circulation: % Growth 2019-2024
Table 28 Forecast Charge Cards Transactions: % Growth 2019-2024
Table 29 Forecast Commercial Charge Cards: Number of Cards in Circulation 2019-2024
Table 30 Forecast Commercial Charge Cards Transactions 2019-2024
Table 31 Forecast Commercial Charge Cards in Circulation: % Growth 2019-2024
Table 32 Forecast Commercial Charge Cards Transactions: % Growth 2019-2024
Table 33 Forecast Personal Charge Cards: Number of Cards in Circulation 2019-2024
Table 34 Forecast Personal Charge Cards Transactions 2019-2024
Table 35 Forecast Personal Charge Cards in Circulation: % Growth 2019-2024
Table 36 Forecast Personal Charge Cards Transactions: % Growth 2019-2024

Credit Cards in South Africa - Category analysis

Credit Cards in South Africa - Company Profile

HEADLINES

PROSPECTS

Controversial bill is passed to offer relief to debtors, but brings protests from banks

Consumers alerted to need for extra vigilance following rising cases of fraud relating to credit card usage

Further competition from smaller players likely to encourage greater reward schemes

COMPETITIVE LANDSCAPE

Big four slowly lose share to emergence of new exciting players

Capitec records impressive growth in first full year

New player Discovery Bank aims to attract higher number of customers through rewards

CATEGORY DATA

Table 37 Credit Cards: Number of Cards in Circulation 2014-2019
Table 38 Credit Cards Transactions 2014-2019
Table 39 Credit Cards in Circulation: % Growth 2014-2019
Table 40 Credit Cards Transactions: % Growth 2014-2019
Table 41 Commercial Credit Cards: Number of Cards in Circulation 2014-2019
Table 42 Commercial Credit Cards Transactions 2014-2019
Table 43 Commercial Credit Cards in Circulation: % Growth 2014-2019
Table 44 Commercial Credit Cards Transactions: % Growth 2014-2019
Table 45 Personal Credit Cards: Number of Cards in Circulation 2014-2019
Table 46 Personal Credit Cards Transactions 2014-2019
Table 47 Personal Credit Cards in Circulation: % Growth 2014-2019
Table 48 Personal Credit Cards Transactions: % Growth 2014-2019
Table 49 Credit Cards: Number of Cards by Issuer 2014-2018
Table 50 Credit Cards: Number of Cards by Operator 2014-2018
Table 51 Credit Cards Payment Transaction Value by Issuer 2014-2018
Table 52 Credit Cards Payment Transaction Value by Operator 2014-2018
Table 53 Commercial Credit Cards: Number of Cards by Issuer 2014-2018
Table 54 Commercial Credit Cards: Number of Cards by Operator 2014-2018
Table 55 Commercial Credit Cards Payment Transaction Value by Issuer 2014-2018
Table 56 Commercial Credit Cards Payment Transaction Value by Operator 2014-2018
Table 57 Personal Credit Cards: Number of Cards by Issuer 2014-2018
Table 58 Personal Credit Cards: Number of Cards by Operator 2014-2018
Table 59 Personal Credit Cards Payment Transaction Value by Issuer 2014-2018
Table 60 Personal Credit Cards Payment Transaction Value by Operator 2014-2018
Table 61 Forecast Credit Cards: Number of Cards in Circulation 2019-2024
Table 62 Forecast Credit Cards Transactions 2019-2024
Table 63 Forecast Credit Cards in Circulation: % Growth 2019-2024
Table 64 Forecast Credit Cards Transactions: % Growth 2019-2024
Table 65 Forecast Commercial Credit Cards: Number of Cards in Circulation 2019-2024
Table 66 Forecast Commercial Credit Cards Transactions 2019-2024
Table 67 Forecast Commercial Credit Cards in Circulation: % Growth 2019-2024
Table 68 Forecast Commercial Credit Cards Transactions: % Growth 2019-2024
Table 69 Forecast Personal Credit Cards: Number of Cards in Circulation 2019-2024
Table 70 Forecast Personal Credit Cards Transactions 2019-2024
Table 71 Forecast Personal Credit Cards in Circulation: % Growth 2019-2024
Table 72 Forecast Personal Credit Cards Transactions: % Growth 2019-2024

Debit Cards in South Africa - Category analysis

Debit Cards in South Africa - Company Profile

HEADLINES

PROSPECTS

Debit cards continues to gain in popularity driven by new technologies

Further digitalisation offers greater convenience to consumers but leads to bank closures

While banks target lower-income consumers, affluent millennials increasingly turn to m-commerce

COMPETITIVE LANDSCAPE

Capitec continues to make strong gains amongst five main banks

Loyalty/reward schemes is popular strategy to attract consumers

Grindrod’s position is likely to weaken after losing issuance of SASSA cards

CATEGORY DATA

Table 73 Debit Cards: Number of Cards in Circulation 2014-2019
Table 74 Debit Cards Transactions 2014-2019
Table 75 Debit Cards in Circulation: % Growth 2014-2019
Table 76 Debit Cards Transactions: % Growth 2014-2019
Table 77 Debit Cards: Number of Cards by Issuer 2014-2018
Table 78 Debit Cards: Number of Cards by Operator 2014-2018
Table 79 Debit Cards Payment Transaction Value by Issuer 2014-2018
Table 80 Debit Cards Payment Transaction Value by Operator 2014-2018
Table 81 Forecast Debit Cards: Number of Cards in Circulation 2019-2024
Table 82 Forecast Debit Cards Transactions 2019-2024
Table 83 Forecast Debit Cards in Circulation: % Growth 2019-2024
Table 84 Forecast Debit Cards Transactions: % Growth 2019-2024

Pre-Paid Cards in South Africa - Category analysis

Pre-Paid Cards in South Africa - Company Profile

HEADLINES

PROSPECTS

Open loop retains dominance of pre-paid cards offering wide range of uses

Digital wallets could pose threat to physical pre-paid cards

Transportation cards remains most popular type of closed loop pre-paid cards but could come under threat from contactless technology

COMPETITIVE LANDSCAPE

Consolidated competitive landscape amongst issuers within pre-paid cards

Gautrain set to roll out contactless card payment scheme after successful trial

Virtual cards and digital wallets will encourage strategic partnerships over forecast period

CATEGORY DATA

Table 85 Pre-paid Cards: Number of Cards in Circulation 2014-2019
Table 86 Pre-paid Cards Transactions 2014-2019
Table 87 Pre-paid Cards in Circulation: % Growth 2014-2019
Table 88 Pre-paid Cards Transactions: % Growth 2014-2019
Table 89 Closed Loop Pre-paid Cards Transactions 2014-2019
Table 90 Closed Loop Pre-paid Cards Transactions: % Growth 2014-2019
Table 91 Open Loop Pre-paid Cards Transactions 2014-2019
Table 92 Open Loop Pre-paid Cards Transactions: % Growth 2014-2019
Table 93 Pre-paid Cards: Number of Cards by Issuer 2014-2018
Table 94 Pre-paid Cards: Number of Cards by Operator 2014-2018
Table 95 Pre-paid Cards Transaction Value by Issuer 2014-2018
Table 96 Pre-paid Cards Transaction Value by Operator 2014-2018
Table 97 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2014-2018
Table 98 Closed Loop Pre-paid Cards: Number of Cards by Operator 2014-2018
Table 99 Closed Loop Pre-paid Cards Transaction Value by Issuer 2014-2018
Table 100 Closed Loop Pre-paid Cards Transaction Value by Operator 2014-2018
Table 101 Open Loop Pre-paid Cards: Number of Cards by Issuer 2014-2018
Table 102 Open Loop Pre-paid Cards: Number of Cards by Operator 2014-2018
Table 103 Open Loop Pre-paid Cards Transaction Value by Issuer 2014-2018
Table 104 Open Loop Pre-paid Cards Transaction Value by Operator 2014-2018
Table 105 Forecast Pre-paid Cards: Number of Cards in Circulation 2019-2024
Table 106 Forecast Pre-paid Cards Transactions 2019-2024
Table 107 Forecast Pre-paid Cards in Circulation: % Growth 2019-2024
Table 108 Forecast Pre-paid Cards Transactions: % Growth 2019-2024
Table 109 Forecast Closed Loop Pre-paid Cards Transactions 2019-2024
Table 110 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2019-2024
Table 111 Forecast Open Loop Pre-paid Cards Transactions 2019-2024
Table 112 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2019-2024

Store Cards in South Africa - Category analysis

Store Cards in South Africa - Company Profile

HEADLINES

PROSPECTS

Marginally improved performance for store cards but retailers likely to remain cautious about offering high levels of credit

National Credit Amendment Bill could pose problem for store cards regarding high indebtedness

Digitalisation could likely to further influence store cards over forecast period

COMPETITIVE LANDSCAPE

Truworths takes over leadership of store cards from troubled Edcon Holdings

Pick ‘n’ Pay’s store card continues to increase in popularity

Virtual card through app from Woolworths is further evidence of growing trend for digitalisation

CATEGORY DATA

Table 113 Store Cards: Number of Cards in Circulation 2014-2019
Table 114 Store Cards Transactions 2014-2019
Table 115 Store Cards in Circulation: % Growth 2014-2019
Table 116 Store Cards Transactions: % Growth 2014-2019
Table 117 Store Cards: Number of Cards by Issuer 2014-2018
Table 118 Store Cards: Payment Transaction Value by Issuer 2014-2018
Table 119 Forecast Store Cards: Number of Cards in Circulation 2019-2024
Table 120 Forecast Store Cards Transactions 2019-2024
Table 121 Forecast Store Cards in Circulation: % Growth 2019-2024
Table 122 Forecast Store Cards Transactions: % Growth 2019-2024

Financial Cards and Payments in South Africa - Industry Overview

EXECUTIVE SUMMARY

Positive performance for financial cards and payments supported by increasing financial inclusion and further adoption of new technology

Approval for controversial National Credit Amendment Bill

South Africans increasingly embrace digitalisation

Consolidated competitive landscape could be disrupted over forecast period

Solid performance predicted over forecast period with brighter economic outlook

MARKET INDICATORS

Table 123 Number of POS Terminals: Units 2014-2019
Table 124 Number of ATMs: Units 2014-2019
Table 125 Value Lost to Fraud 2014-2019
Table 126 Card Expenditure by Location 2019
Table 127 Financial Cards in Circulation by Type: % Number of Cards 2014-2019
Table 128 Domestic versus Foreign Spend 2019

MARKET DATA

Table 129 Financial Cards by Category: Number of Cards in Circulation 2014-2019
Table 130 Financial Cards by Category: Number of Accounts 2014-2019
Table 131 Financial Cards Transactions by Category: Value 2014-2019
Table 132 Financial Cards by Category: Number of Transactions 2014-2019
Table 133 Consumer Payments by Category: Value 2014-2019
Table 134 Consumer Payments by Category: Number of Transactions 2014-2019
Table 135 M-Commerce by Category: Value 2014-2019
Table 136 M-Commerce by Category: % Value Growth 2014-2019
Table 137 Financial Cards: Number of Cards by Issuer 2014-2018
Table 138 Financial Cards: Number of Cards by Operator 2014-2018
Table 139 Financial Cards: Card Payment Transactions Value by Operator 2014-2018
Table 140 Financial Cards: Card Payment Transactions Value by Issuer 2014-2018
Table 141 Forecast Financial Cards by Category: Number of Cards in Circulation 2019-2024
Table 142 Forecast Financial Cards by Category: Number of Accounts 2019-2024
Table 143 Forecast Financial Cards Transactions by Category: Value 2019-2024
Table 144 Forecast Financial Cards by Category: Number of Transactions 2019-2024
Table 145 Forecast Consumer Payments by Category: Value 2019-2024
Table 146 Forecast Consumer Payments by Category: Number of Transactions 2019-2024
Table 147 Forecast M-Commerce by Category: Value 2019-2024
Table 148 Forecast M-Commerce by Category: % Value Growth 2019-2024

Megatrends

Country Report

Credit Cards in South Africa

New Report Guarantee

Executive Summary

New Report Guarantee

PROSPECTS

Controversial bill is passed to offer relief to debtors, but brings protests from banks

Consumers alerted to need for extra vigilance following rising cases of fraud relating to credit card usage

Further competition from smaller players likely to encourage greater reward schemes

COMPETITIVE LANDSCAPE

Big four slowly lose share to emergence of new exciting players

Capitec records impressive growth in first full year

New player Discovery Bank aims to attract higher number of customers through rewards

Overview

Why buy this report?

SAMPLES

Delivery Method

Overview

Why buy this report?

Want to find out more about this report?

Table of Contents

Charge Cards in South Africa - Category analysis

Charge Cards in South Africa - Company Profile

HEADLINES

PROSPECTS

Charge cards to remain a niche targeting affluent consumers

Stronger performance for commercial charge cards as corporate business look to control expenses

Personal charge cards to retain dominance over forecast period

COMPETITIVE LANDSCAPE

Limited competition within consolidated landscape

Diners Club targets specific new consumer group

CATEGORY DATA

Credit Cards in South Africa - Category analysis

Credit Cards in South Africa - Company Profile

HEADLINES

PROSPECTS

Controversial bill is passed to offer relief to debtors, but brings protests from banks

Consumers alerted to need for extra vigilance following rising cases of fraud relating to credit card usage

Further competition from smaller players likely to encourage greater reward schemes

COMPETITIVE LANDSCAPE

Big four slowly lose share to emergence of new exciting players

Capitec records impressive growth in first full year

New player Discovery Bank aims to attract higher number of customers through rewards

CATEGORY DATA

Debit Cards in South Africa - Category analysis

Debit Cards in South Africa - Company Profile

HEADLINES

PROSPECTS

Debit cards continues to gain in popularity driven by new technologies

Further digitalisation offers greater convenience to consumers but leads to bank closures

While banks target lower-income consumers, affluent millennials increasingly turn to m-commerce

COMPETITIVE LANDSCAPE

Capitec continues to make strong gains amongst five main banks

Loyalty/reward schemes is popular strategy to attract consumers

Grindrod’s position is likely to weaken after losing issuance of SASSA cards

CATEGORY DATA

Pre-Paid Cards in South Africa - Category analysis

Pre-Paid Cards in South Africa - Company Profile

HEADLINES

PROSPECTS

Open loop retains dominance of pre-paid cards offering wide range of uses

Digital wallets could pose threat to physical pre-paid cards

Transportation cards remains most popular type of closed loop pre-paid cards but could come under threat from contactless technology

COMPETITIVE LANDSCAPE

Consolidated competitive landscape amongst issuers within pre-paid cards

Gautrain set to roll out contactless card payment scheme after successful trial

Virtual cards and digital wallets will encourage strategic partnerships over forecast period

CATEGORY DATA

Store Cards in South Africa - Category analysis

Store Cards in South Africa - Company Profile

HEADLINES

PROSPECTS

Marginally improved performance for store cards but retailers likely to remain cautious about offering high levels of credit

National Credit Amendment Bill could pose problem for store cards regarding high indebtedness

Digitalisation could likely to further influence store cards over forecast period

COMPETITIVE LANDSCAPE

Truworths takes over leadership of store cards from troubled Edcon Holdings

Pick ‘n’ Pay’s store card continues to increase in popularity

Virtual card through app from Woolworths is further evidence of growing trend for digitalisation