欧州におけるカード加盟店のアクワイアリング・トランザクション業務市場

Abstract

Overview

Introduction

European Merchant Acquiring and Transaction Processing provides valuable insight into each of these complex topics. In-depth analysis of the processing value chain and the impact of SEPA and interchange regulation are followed by the results of Datamonitor' s survey of European merchants, which highlights the key acceptance and acquiring trends across the region.

Scope

• In-depth coverage of acquiring and processing in Belgium, France, Germany, Italy, Netherlands, Spain, Turkey, and the UK
• Discusses the key trends in European processing, as well as the impact of SEPA and interchange regulation on the future landscape
• Output from Datamonitor' s European Merchant Survey highlights the key trends in payment acceptance and acquiring, including acquirer market shares
• Examines merchant views on their acquirer, as well as how to encourage card payments, at the market and regional level

Report Highlights

Payment cards are the second most accepted payment form across the region, after cash. In terms of increasing card payments, merchants suggest that discounts on card payments and improved card loyalty programs are key.

The region has witnessed a breakdown of the traditional processing model, with interbank processors giving way to third party processors. Acquirers across the region are outsourcing functions such as data processing, customer service, terminal maintenance and fraud operation

Processing is a scale activity. Low margins have contributed to a consolidation of the processing market across the region. The biggest mergers and acquisitions have been between Interpay and Equens (the Netherlands), GZS and First Data (Germany), and SIA and SSB (Italy).

Reasons to Purchase

• Understand how the payment card market is evolving in your market, giving valuable insight and competitive edge
• Discover the likely outcome of SEPA implementation and a possible reduced level of domestic interchange on the payment industry
• Learn how to encourage more card payments in your market

Table of Contents

• Overview
  • Catalyst
  • Summary
• Executive Summary
  • Merchant acquiring and transaction processing within Europe - key findings
  • Belgium - key findings
  • France - key findings
  • Germany - key findings
  • Italy - key findings
  • The Netherlands - key findings
  • Spain - key findings
  • Turkey - key findings
  • UK - key findings
• Table of Contents
• Table of figures
• Table of tables
• Introduction to Merchant Acquiring and Transaction Processing
  • The term ' processing' refers to a variety of activities in the payment process
    • The payment process can involve a sizeable chain of participants
      • The card holder
      • The issuer
      • The merchant
      • The acquirer
      • The transaction processor
      • The scheme
      • The payment service provider
    • The term ' processing' refers to a variety of activities carried out by third parties
  • The merchant acquisition process involves varying numbers of players
    • The transactional information process involves data flowing from the merchant acquirer to the card issuer
    • Costs are deducted throughout the transactional fund process
      • The MSC is the fee paid by the merchant to the merchant acquirer
      • The interchange fee is paid by the merchant acquirer to the issuer
    • Some issuers work on a closed loop basis
  • The processing value chain includes all activities necessary for card payments to occur
    • In order to avoid confusion, it is important to define the processing value chain
    • A European bank divides the value chain into policy and operational functions
      • The value chain is replicated on the issuing and acquiring sides
    • European banks want to retain the relationship with the customer
    • In the US, the value chain is less in the control of the banks
    • The breakdown of traditional processing model is leading to a shift of power in some markets
      • Acquirers tend to outsource data processing activities
      • Issuers tend to outsource a wider range of activities
      • The processing side has consolidated more than the acquiring side
      • Over time, the European value chain could start to emulate the American model
• Merchant Acquiring and Transaction Processing within Europe
  • The European market has been experiencing steady growth
    • Pay now cards are prevalent in Europe
    • Pay later cards
    • The UK is the biggest payment card market in Europe
    • Card penetration is also highest in the UK
  • The acquiring landscape is well developed throughout the region
    • The acceptance infrastructure has steadily expanded
    • Cash continues to be the most commonly accepted payment method
      • Lack of demand and small business size are two major reasons why cards are not accepted by more merchants
    • Minimum transaction values for card payments are fairly common on average
      • Charges for Master Card usage are imposed by around 2.9% of respondents
    • Discounts on payments and loyalty programs are the key to encouraging card payments
    • Barclays is the leading acquirer in the aggregate market
      • Merchants are typically satisfied with their acquiring services overall
  • SEPA presents both challenges and opportunities to market players
    • Processors plan to take advantage of the new structure
      • Most issuers are not concerned by a potential fall in revenue from international transactions
    • Domestic schemes are likely to survive for the moment
  • The possible reduction of the multilateral interchange fee could see issuer revenues fall in certain markets
    • Merchants want the components of interchange to be unbundled and reflect costs more accurately
      • Merchants argue that the high costs of interchange are to detriment of consumers, as they are forced to pass the charges on in the form of higher retail prices
      • The industry argues that the current setup balances the cost of the industry over those who benefit
      • Levels of interchange and MSC have already been subject to domestic regulation in many markets - the general consensus is they are set to fall further
      • Domestic regulators are pushing to make interchange a more accurate reflection of costs, possibly reducing them to as low as 0.04%
    • Cuts in interchange will see costs cut and revenue recouped elsewhere, leading to a fall in consumer welfare
      • A reduction of interchange in Australia gives an indication of the results of a similar cut in Europe
    • Issuers face two options in the face of falling levels of interchange
      • Option one: fight the reduction in interchange
      • Option two: rethink pricing strategies in order to cope with a reduction in interchange
• Belgium
  • The Belgian market was worth -59.8 billion in 2006
    • Pay now cards are dominant in Belgium
    • Pay later cards are less important in Belgium
    • The Belgian cards market is forecast to grow at a CAGR of 5.4% to 2011
  • Banksys is central to the Belgian processing landscape
    • Banksys dominates processing in Belgium
      • ATOS Origin also acquired Bank Card Company, a major merchant acquirer
  • The acquiring landscape is dominated by Banksys
    • There is one POS terminal for every 90 people in Belgium
    • Levels of acceptance in the Belgian card market
      • Lack of demand, and expense are two major reasons that cards are not accepted by more merchants
    • Minimum transaction values for card payments are relatively rare in Belgium
      • The application of minimum transaction thresholds for cards is stronger in certain sectors
    • Charges for credit card usage are imposed by around 2.5% merchants in Belgium
    • Increasing security and efficiency are the key to encouraging card payments
    • Banksys is the dominant acquirer in Belgium
      • Belgian merchants are typically satisfied with their acquiring services
• France
  • The French market was worth -334 billion in 2006
    • Pay now cards are less important in France
    • Pay later cards dominate the French market
    • The French cards market is forecast to grow at a CAGR of 7.1% to 2011
  • The processing landscape is governed by Cartes Bancaires
    • Processing is typically kept in-house
  • The French acquiring land scape is dominated by Crédit Agricole
    • There is one POS for every 55 people in France
    • Levels of acceptance in the French card market
      • Lack of demand and small business size are two major reasons why cards are not accepted by more merchants
    • Minimum transaction values for card payments are relatively common in France
      • Minimum transaction value thresholds for payments are common for around a quarter of card payments
    • Charges for debit card usage are imposed by around 1.8% of respondents in France
    • Increasing security and efficiency are the keys to encouraging card payments
    • Merchant acquiring is controlled by Cartes Bancaires
    • Crédit Agricole is the dominant acquirer in France
      • French merchants are typically satisfied with their acquiring services
• Germany
  • The German market was worth -475 billion in 2006
    • Pay now cards are dominant in Germany
    • Pay later cards are relatively rare in Germany
    • The German cards market is forecast to grow at a CAGR of 4.7% to 2011
  • The German processing landscape is dominated by First Data and ATOS
  • Acquiring in Germany is dominated by Volksbank
    • There is one POS for every 142 people in Germany
    • Levels of acceptance in the German card market
      • Expense and small business size are two major reasons why cards are not accepted by more merchants
    • Minimum transaction value thresholds for payments are fairly uncommon in Germany
      • The application of minimum transaction thresholds for cards is stronger in certain sectors
    • Charges for credit card usage are imposed by around 2.5% of merchants in Germany
    • Increasing efficiency and security are key to encouraging card payments
    • Volksbank is the dominant acquirer in Germany
      • The large majority of German merchants are satisfied with their acquiring services
• Italy
  • The Italian market was worth -176 billion in 2006
    • Pay now cards are dominant in Italy
    • Pay later cards are less important in Italy
    • The Italian cards market is forecast to grow at a CAGR of 7.3% to 2011
  • Acquirers typically outsource processing to SIA-SSB
  • Acquiring in Italy is dominated by Banca Popolare
    • There is one POS terminal for every 52 people in Italy
    • Levels of acceptance in the Italian card market
      • Business size and expense are two major reasons why cards are not accepted by more merchants
    • Minimum transaction values for card payments are relatively rare in Italy
    • Charges for credit card usage are imposed by around 1.3% of merchants in Italy
    • Offering discounts and improving security are key to encouraging card payments
    • Banca Popolare is the dominant acquirer in Italy
      • Italian merchants are typically satisfied with their acquiring services
• The Netherlands
  • The Dutch market was worth -138.9 billion in 2006
    • Pay now cards are dominant in the Netherlands
    • Pay later cards are very uncommon in the Netherlands
    • The Dutch cards market is forecast to grow at a CAGR of 4.3% to 2011
  • Processing in the Netherlands is dominated by Equens
  • Acquiring in the Netherlands is dominated by Interpay
    • Infrastructure
    • Levels of acceptance in the Dutch card market
      • Lack of demand and expense are two major reasons why cards are not accepted by more merchants
    • Minimum transaction value thresholds for payments are fairly uncommon in the Netherlands
      • The application of minimum transaction thresholds for cards is stronger in certain sectors
    • Charges for credit card usage are imposed by around 5.5% of respondents
    • Decreasing the cost of using cards and increasing security are key to encouraging card payments
    • Interpay is the dominant acquirer in the Netherlands
      • Dutch merchants are typically satisfied with their acquiring services
• Spain
  • The Spanish market was worth -204 billion in 2006
    • Pay now cards are common in Spain
    • Pay later cards are less common in Spain
    • The Spanish market is forecast to grow at a CAGR of 8% to 2011
  • There are three major inter bank associations in Spain
  • Acquiring in Spain is dominated by BBVA
    • There is one POS for every 34 people in Spain
      • Lack of demand and expense are two major reasons why cards are not accepted by more merchants
    • Minimum transaction values for certain card payments are widespread in Spain
      • The application of minimum transaction thresholds for cards is stronger in certain sectors
    • Charges for credit card usage are imposed by only 0.5% of merchants in Spain
    • Discounts on card payments and loyalty programs are the key to encouraging card payments
    • BBVA is the dominant acquirer in Spain
      • Spanish merchants are typically satisfied with their acquiring services
• Turkey
  • The Turkish market was worth -115.7 billion in 2006
    • Pay now cards in are just in the majority in Turkey
    • Pay later cards account for just under half of all cards in issue in Turkey
    • The Turkish cards market is forecast to grow at a CAGR of 17.9% to 2011
  • The processing landscape is under the control of BKM
  • Acquiring is dominated by Isbank
    • There is one POS for every 55 people in Turkey
    • Levels of acceptance in the Turkish card market
      • Lack of demand and small business size are two major reasons why cards are not accepted by more merchants
    • Minimum transaction value thresholds for payments are uncommon in Turkey
      • The application of minimum transaction thresholds for cards is stronger in certain sectors
    • Charges for credit card usage are imposed by around 0.7% of merchants in Turkey
    • Loyalty programs and greater promotion are key to encouraging card payments
    • Isbank is the dominant acquirer in Turkey
      • Turkish merchants are typically satisfied with their acquiring services
• UK
  • The UK market was worth -749 billion in 2006
    • Pay now cards are prevalent in the UK
    • Pay later cards are slightly less common in the UK
    • The UK cards market is forecast to grow at a CAGR of 6.6% to 2011
  • Banks in the UK tend to outsource most non-core activities
  • Acquiring in the UK is dominated by Barclays
    • There is one POS for every 58 people in the UK
    • Levels of acceptance in the UK card market
      • Lack of demand and small business size are two major reasons why cards are not accepted by more merchants
    • Minimum transaction value thresholds are quite common for card payments in the UK
      • The application of minimum transaction thresholds for cards is stronger in certain sectors
    • Charges for credit card usage are imposed by around 8.5% merchants in UK
    • Introducing loyalty programs and decreasing card usage are key to encouraging card payments
      • UK merchants are typically satisfied with their acquiring services
• Appendix
  • Supplementary data
  • Definitions
    • AAGR
    • APACS
    • Average transaction value
    • Balances outstanding
    • Bank of England base rate
    • CAGR
    • Charge card
    • Credit card
    • CVV
    • Debit card
    • EMV
    • Fraudulent use of card details (card-not-present fraud),also known as fraud on phone, mail order or internet transactions
    • Interchange
    • Non-standard
    • OFT
  • Methodology
    • Primary research
    • Secondary research
  • Further reading
  • Ask the analyst
  • Datamonitor consulting
  • Disclaimer
• List of Tables
  • Table 1: Merchant Service Charges across eight European markets, 2004-2008
  • Table 2: Proportion of cards with minimum transaction spend by sector, Belgium, 2006
  • Table 3: Proportion of cards with minimum transaction spend, by sector, France, 2006
  • Table 4: Proportion of cards with minimum transaction spend, by sector, Germany, 2006
  • Table 5: Proportion of cards with minimum transaction spend, by sector, Netherlands, 2006
  • Table 6: Proportion of cards with minimum transaction spend, by sector, Spain, 2006
  • Table 7: Proportion of cards with minimum transaction spend, by sector, Turkey, 2006
  • Table 8: Proportion of cards with minimum transaction spend, by sector, UK, 2006
  • Table 9: Number of payment cards in eight European markets
  • Table 10: Number of transactions on payment cards in eight European markets
  • Table 11: Value of transactions on payment cards in eight European markets
  • Table 12: Number of POS terminals in eight European markets
  • Table 13: Current relevant Datamonitor publications,2008
  • Table 14: Future relevant Datamonitor publications, 2008
• List of Figures
  • Figure 1: Issuers often outsource non-core activities to processors
  • Figure 2: The transactional information process, 2008
  • Figure 3: Card issuers, processors and acquirers all take their share of the MSC
  • Figure 4: Value is added to the chain at several points throughout the payment process
  • Figure 5: The value chain is replicated on the issuing and acquiring side
  • Figure 6: In the US, the value chain has disintegrated into several separate parts
  • Figure 7: The value of transactions in the markets measured has grown steadily, 2002-2006
  • Figure 8: The aggregate pay now market has seen healthy growth, 2002-2006
  • Figure 9: The aggregate pay later market has seen healthy growth, 2002-2006
  • Figure 10: In terms of transaction value, the UK has the largest market for payment cards
  • Figure 11: The UK has the highest payment card penetration at 2.8 cards per person
  • Figure 12: The aggregate payment market is forecast to slow over the following four years
  • Figure 13: The number of POS terminals in the aggregate market has increased steadily between 2002 and 2006.
  • Figure 14: Germany has the highest population per POS terminal
  • Figure 15: Cash is the most commonly accepted payment type, 2006
  • Figure 16: Lack of customer demand and small business size are two major reasons why merchants do not accept cards
  • Figure 17: Minimum transaction values are most commonly imposed on credit card transactions, 2006
  • Figure 18: On average Master Card credit cards most frequently attract charges, 2006
  • Figure 19: Discounts on card payments are seen as a keyway to encourage card use
  • Figure 20: Barclays is the leading acquirer in Europe
  • Figure 21: Merchants are typically very satisfied with the service they receive from their acquirers
  • Figure 22: The interchange fees levied by Australian card schemes, 2004
  • Figure 23: Australian issuers increased annual fees in response to a cut in interchange, 2002 & 2003
  • Figure 24: The Belgian market has grown at a CAGR of 8.5% from 2002 to 2006
  • Figure 25: The pay now market in Belgium has seen healthy growth in the 2002 to 2006 period
  • Figure 26: Growth in the Belgian pay later market has been much more subdued, 2002-2006
  • Figure 27: The rate of growth in the Belgian cards market is expected to slow, 2002-2011
  • Figure 28: The number of POS terminals in Belgium has fallen, 2002-2006
  • Figure 29: Cash is still the most commonly accepted payment type in Belgium, 2006
  • Figure 30: Lack of customer demand and expense are two major reasons why merchants do not accept cards in Belgium
  • Figure 31: Minimum transaction values are most commonly imposed on credit card transactions, Belgium, 2006
  • Figure 32: Visa credit cards most frequently attract charges in Belgium, 2006
  • Figure 33: Increasing security is seen as a key way to encourage card use, Belgium, 2006
  • Figure 34: Banksys is the prevalent merchant acquirer in Belgium
  • Figure 35: Belgian Acquirers are typically satisfied with the service they receive from merchant acquirers
  • Figure 36: The French market has grown at a CAGR of 8.6% from 2002 to 2006
  • Figure 37: The pay now market in France has seen healthy growth in the 2002 to 2006 period
  • Figure 38: The French pay later market has grown at a similar rate to the pay now market, 2002-2006
  • Figure 39: The rate of growth in the French cards market is expected to slow, 2002-2011
  • Figure 40: The table of figures is an optional section and can be removed
  • Figure 41: The number of POS terminals in France has increased steadily between 2002 and 2006.
  • Figure 42: Cheques are the most commonly accepted payment type in France, 2006
  • Figure 43: Lack of customer demand and small business size are two major reasons why merchants do not accept cards in France
  • Figure 44: Minimum transaction values are most commonly imposed on debit card transactions, France, 2006
  • Figure 45: Visa credit cards most frequently attract charges in France, 2006
  • Figure 46: Increasing security is seen as a key way to encourage card use, France, 2006
  • Figure 47: Credit Agricole is the prevalent merchant acquirer in France
  • Figure 48: French acquirers are typically very satisfied with the service they receive from merchant acquirers
  • Figure 49: The German market has grown at a CAGR of 8.7% from 2002 to 2006
  • Figure 50: The pay now market in Germany has seen healthy growth in the 2002 to 2006 period
  • Figure 51: The pay later market in Germany has seen healthy growth in the 2002 to 2006 period
  • Figure 52: The rate of growth in the German cards market is expected to slow, 2002-2011
  • Figure 53: The number of POS terminals in Germany has increased steadily between 2002 and 2006.
  • Figure 54: Cash is still the most commonly accepted payment type in Germany, 2006
  • Figure 55: Expense and business size are two major reasons why merchants do not accept cards in Germany
  • Figure 56: Minimum transaction values are most commonly imposed on credit card transactions, Germany, 2006
  • Figure 57: Master Card credit cards most frequently attract charges in Germany, 2006
  • Figure 58: Increasing efficiency is seen as a key way to encourage card use, Germany, 2006
  • Figure 59: Volksbank is the prevalent merchant acquirer in Germany, 2006
  • Figure 60: The large majority of German merchants are satisfied with their acquiring services
  • Figure 61: The Italian market has grown at a CAGR of 4% from 2002 to 2006
  • Figure 62: The pay now market in Italy has seen healthy growth in the 2002 to 2006 period
  • Figure 63: The pay later market in Italy has seen healthy growth in the 2002 to 2006 period
  • Figure 64: The rate of growth in the Italian cards market is expected to accelerate, 2002-2011
  • Figure 65: SIA-SSB provides a full range of outsourcing to the Italian market
  • Figure 66: The number of POS terminals in Italy has increased significantly between 2002 and 2006.
  • Figure 67: Cash is still the most commonly accepted payment type in Italy, 2006
  • Figure 68: Lack of customer demand and not being accepted by an acquirer are two major reasons why merchants do not accept cards in Italy
  • Figure 69: Minimum transaction values are most commonly imposed on debit card transactions, Italy, 2006
  • Figure 70: Domestic debit cards most frequently attract charges in Italy, 2006
  • Figure 71: Offering discounts on card purchases is seen as a key way to encourage card use, Italy, 2006
  • Figure 72: Banca Popolare is the prevalent merchant acquirer in Italy, 2006
  • Figure 73: Italian merchants are typically satisfied with their acquiring services
  • Figure 74: The Dutch market has grown at a CAGR of 13.3% from 2002 to 2006
  • Figure 75: The pay now market in the Netherlands has seen strong growth in the 2002 to 2006 period
  • Figure 76: The pay now market in the Netherlands has seen strong growth in the 2002 to 2006 period
  • Figure 77: The rate of growth in the Dutch cards market is expected to slow, 2002-2011
  • Figure 78: The number of POS terminals in the Netherlands has increased steadily between 2002 and 2006.
  • Figure 79: Cash is still the most commonly accepted payment type in the Netherlands, 2006
  • Figure 80: Lack of customer demand and expense are two major reasons why merchants do not accept cards in the Netherlands
  • Figure 81: Minimum transaction values are most commonly imposed on debit card transactions, the Netherlands, 2006
  • Figure 82: Visa credit cards most frequently attract charges in the Netherlands, 2006
  • Figure 83: Decreasing the cost of using cards is seen as a key way to encourage card use, Netherlands, 2006
  • Figure 84: Interpay is the prevalent merchant acquirer in the Netherlands
  • Figure 85: Dutch Acquirers are typically satisfied with the service they receive from merchant acquirers
  • Figure 86: The Spanish market has grown at a CAGR of 12.5% from 2002 to 2006
  • Figure 87: The pay now market in Spain has seen healthy growth in the 2002 to 2006 period
  • Figure 88: The pay now market in Spain has shown strong growth in the 2002 to 2006 period
  • Figure 89: The rate of growth in the Spanish cards market is expected to slow, 2002-2011
  • Figure 90: The number of POS terminals in Spain has increased steadily between 2002 and 2006.
  • Figure 91: Cash is still the most commonly accepted payment type in Spain, 2006
  • Figure 92: Lack of customer demand and expense are two major reasons why merchants do not accept cards in Spain
  • Figure 93: Minimum transaction values are most commonly imposed on credit card transactions, Spain, 2006
  • Figure 94: Visa credit cards most frequently attract charges in Spain, 2006
  • Figure 95: Discounts are seen as a key way to encourage card use, Spain, 2006
  • Figure 96: BBVA is the prevalent merchant acquirer in Spain
  • Figure 97: Spanish merchants are typically satisfied with the service they receive from merchant acquirers
  • Figure 98: The Turkish market has grown at a CAGR of 29.9% from 2002 to 2006
  • Figure 99: The pay now market in Turkey has seen strong growth in the 2002 to 2006 period
  • Figure 100: Growth in the Turkish pay later market has been much stronger, 2002-2006
  • Figure 101: The rate of growth in the Turkish cards market is expected to slow, 2002-2011
  • Figure 102: The number of POS terminals in Turkey has grown steadily between 2002 and 2006.
  • Figure 103: Cash is still the most commonly accepted payment type in Turkey, 2006
  • Figure 104: Lack of customer demand and small business size are two major reasons why merchants do not accept cards in Turkey
  • Figure 105: Minimum transaction values are most commonly imposed on credit card transactions, Turkey, 2006
  • Figure 106: MasterCard credit cards most frequently attract charges in Turkey, 2006
  • Figure 107: Loyalty programs are seen as a key way to encourage card use, Turkey, 2006
  • Figure 108: Isbank is the prevalent merchant acquirer in Turkey
  • Figure 109: Turkish merchants are typically satisfied with the service they receive from acquirers
  • Figure 110: The UK market has grown at a CAGR of 10.5% from 2002 to 2006
  • Figure 111: The pay now market in the UK has seen strong growth in the 2002 to 2006 period
  • Figure 112: The pay now market in the UK has seen strong growth in the 2002 to 2006 period
  • Figure 113: The rate of growth in the UK cards market is expected to slow, 2002-2011
  • Figure 114: The number of POS terminals in the UK has increased steadily between 2002 and 2006.
  • Figure 115: Cheques are the most commonly accepted payment type in UK, 2006
  • Figure 116: Lack of customer demand and small business size are two major reasons why merchants do not accept cards in the UK
  • Figure 117: Minimum transaction values are most commonly imposed on credit card transactions, UK, 2006
  • Figure 118: MasterCard and Visa credit cards most frequently attract charges in the UK, 2006
  • Figure 119: Loyalty programs are seen as a key way to encourage card use, UK, 2006
  • Figure 120: Barclays is the prevalent merchant acquirer in the UK
  • Figure 121: UK merchants are typically satisfied with the service they receive from merchant acquirers