Boston, MA -- (SBWIRE) -- 10/04/2013 -- Iran's card payments channel recorded growth during the review period. The nation's improved banking infrastructure, a consumer shift towards card-based payments and government initiatives to accelerate card payments contributed to the growth during the review period (2008-2012). As the popularity of e-commerce increases and prepaid cards become more commonplace, the channel is projected to grow in volume and value terms over the forecast period (2013-2017). The card payments channel grew from 60.1 million cards in 2008 to 216.2 million in 2012, at a review-period CAGR of 37.73%. Over the forecast period, the total number of cards is projected to grow from 263.7 million to 423.2 million, representative of a forecast-period a CAGR of 12.56%. During the review period, the highest growth was registered in the prepaid cards category, which increased from 11.7 million cards in circulation in 2008 to 70.7 million in 2012, representing a review-period CAGR of 56.81%. It is projected to reach 170.6 million cards in 2017.

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Key Highlights

- The card payments channel grew from 60.1 million cards in 2008 to 216.2 million in 2012, at a review-period CAGR of 37.73%. Over the forecast period, the total number of cards is projected to grow from 263.7 million to 423.2 million, representative of a forecast-period a CAGR of 12.56%.
- During the review period, the highest growth was registered in the prepaid cards category, which increased from 11.7 million cards in circulation in 2008 to 70.7 million in 2012, representing a review-period CAGR of 56.81%. It is projected to reach 170.6 million cards in 2017.
- In terms of the number of cards in circulation, the credit cards category recorded the second-highest review-period CAGR of 52.41% and is projected to record a forecast-period CAGR of 6.58%.
- In terms of number of cards in circulation the debit cards category recorded a review-period CAGR of 31.50%, and is projected to record a forecast-period CAGR of 10.48%.
- The key growth drivers during the review period were an increased demand from the unbanked population for transaction facilities, the use of prepaid cards for conducting e-commerce transactions, and reward programs.

Scope

- This report provides a comprehensive analysis of Iran's cards and payments industry
- It provides current values for Iran's cards and payments industry 2012 and forecast figures for 2017
- It details the different macroeconomic, infrastructural, consumer and business drivers affecting Iran's cards and payments industry
- It outlines the current regulatory framework in the industry
- It details the marketing strategies used by various bankers and other institutions.
- It profiles the major banks in Iran's cards and payments industry

Reasons to Get This Report

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Companies Mentioned in this Report: EN Bank, Bank Pasargad, Bank MellatParsian Bank Bank Keshavarzi, Tejarat Bank, Bank Sepah, Bank Sedarat Iran, Bank Melli Iran, Diners Club, American Express, Visa, MasterCard

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