RNCOS: VN to witness rapid expansion of int’l cards
VGP - With the significantly low penetration and huge potential for growth, Việt Nam's payment card market is set to see strong participation of international brands.
The finding is stated in a report namely “Vietnam Plastic Card Market
Forecast to 2013” by RNCOS, a market research consulting services company,
specializing in BioPharma, IT and telecom, retail and services.
According to the report, Việt
The popularity of payment cards in Việt
The cards are increasingly used in a number of shopping malls and
various on-line portals that carry luxury or world-class brands of consumer
goods.
Debit cards dominate the market whereas credit cards are relatively new here
and account just for 2% of the total market of payment cards in the country.
Therefore, the market for credit cards remains largely untapped and full of
opportunities.
The report forecasts that thanks to the growing consumer awareness,
technological advancements and emergence of e-commerce, there is an ample scope
for further developments in the Vietnamese payment cards market.
The market is expected to grow at about 20% during 2010-2013, and debit
cards with domestic acceptance will continue dominating the market, anticipates
RNCOS.
By Kim Anh
