2013 05 07 Exploring prepaid in the nordics
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2013 05 07 Exploring prepaid in the nordics
- 1. Exploring prepaid in the Nordics
- 2. Agenda • Background and market size • Some success stories • Prepaid in the new contactless and mobile world • Some conclusions Exploring prepaid in the Nordics 2 CAC Conference – Copenhagen 07.05.2013
- 3. Our story Making a difference in the Nordics 3 CAC Conference – Copenhagen 07.05.2013 Close to our customers • 50 cities with capacity to deliver • 11 regional offices with specialist competencies Cultural affinity • ”Local” language • Business made easy Diversity and business agility • Empowered local management • Enthusiastic and motivated employees Delivery models for any segment • Meeting the needs and expectations of Large and SME customers Critical importance for society as a whole • Banking & finance • Public sector Shareholders • Posten 40% • Telenor 30,2% • Listed at Oslo Stock Exchange since 1995 100+ employees
- 4. Sweden Stockholm Norway Oslo, Trondheim, Bergen, Mo I Rana Finland Helsinki Denmark Copenhagen UK London We are where our customers want us to be! 4 CAC Conference – Copenhagen 07.05.2013 EVRY CARD presence
- 5. Pay before Pay now Pay later CAC Conference – Copenhagen 07.05.2013 5
- 6. Closed loop Private Label Restricted Loop Open Loop CAC Conference – Copenhagen 07.05.2013 6
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- 8. 8 CAC Conference – Copenhagen 07.05.2013 Denmark Finland 150 135 Sweden 120 Norway 113 365 330 468 334 40.215 53.074 54.651 44.457 Avg. card usage per year Avg. card spending NOKNo.of transactions per card NOK Avg. card spending per year Kilde: Visa Datamonitor, Country statistics for cards 2011
- 9. 9 CAC Conference – Copenhagen 07.05.2013 Estimate prepaid market size 2015 – NOK 170 billion 170.2 37.7 30.8 34.7 67.0 - 20.0 40.0 60.0 80.0 100.0 120.0 140.0 160.0 180.0 Sverige Danmark Finland Norge Visa Europe Prepaid Market Sizing Study 2011, prognosis 2015
- 10. 10 CAC Conference – Copenhagen 07.05.2013 6,9 7,7 6,5 21,6 4,6 6,5 7,7 4,0 13,1 6,28,5 8,5 20,0 Finland 21,6 Denmark 17,9 Sweden Norway 42,4 Prepaid private market in 2015 – NOK 100 billion Travel/Gift/etc Gaming General purpose I mrd NOK Visa Europe Prepaid Market Sizing Study 2011, prognosis 2015
- 11. 11 CAC Conference – Copenhagen 07.05.2013 3,9 3,1 3,4 3,5 4,5 3,1 2,5 2,3 6,9 4,6 4,6 14,6 23,1 2,7 NorgeSverige 17,0 1,7 Finland 12,2 1,7 Danmark 12,3 1,5 Prepaid corporate market in 2015 – NOK 65 billion Benefits Incentives Wages Other I mrd NOK Visa Europe Prepaid Market Sizing Study 2011, prognosis 2015
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- 28. • There is a Market for niche players • There is a need amongst corporate clients for prepaid • Prepaid can stimulate innovation • EVRY can be your partner exploring prepaid opportunities 28 CAC Conference – Copenhagen 07.05.2013 Conclusions Exploring prepaid in the Nordics
- 29. CAC Conference – Copenhagen 07.05.2013 29
- 30. Embrace infinite opportunities. 30 CAC Conference – Copenhagen 07.05.2013 We live in a world that's changing rapidly, in which the pace of change is accelerating all the time. But with change comes an infinite range of new possibilities. We remain open to every opportunity, constantly seeking out new challenges and new solutions that help to build our customers' businesses and benefit the wider community.
Editor's Notes
- One slide about EVRY; Localpresence, a lot ofcompetence
- Full service card house – 5 millcards in issue – 13 millcardsproduced – Fraudprevention – Switching services – 24/7 customer service
- The Nordics,howdoesthemarketplace for prepaidlooks like?
- First somestatisticsregardingcardusageA comparionsbetweenthecountries – A maturecardmarketFinland: 1,9 cards per inhibitantNorway: 2,6 cards per inhibitantSweden: 1,7 cards per inhibitantDenmark: 1,4 cards per inhibitant
- Visa did a largestudyonpotentialofprepaid all over europe in 2011, hereare som figures from theirnordicanalysisHow much is therealready? And also cash, cupons, and other none electronicalpaymentsarethere?A lot ofpotentialvalue to make prepaidable
- The private marketarethebiggest, speciallyinside travel, gifting and remittance
- At corporates,wages to seasonalworkersarebig and theincentivemarketarealreadythereThe missing 5 billion marketare at thegoverments, Riksgjäldenare in a bidprocessnow. Immigrationarethebiggest area.
- Are thereanysucessstories in the Nordics?
- BankAxeptprepaidcard, launched in 2009 and useat themuncipalities and immigationscenter. It is a Cash replacementproducts; 150-200 millions per yeararereplacedwithcardtransactionsICA banken in Sweden has a similar Maestro solution for theswedishmuncipalities.
- Open loop gift card; In Norway therewere sold open loop giftcards for over 200 NOK millions in 2012, up from about 10 millthe first year in 2008. There has been a 40% growtheachyear. Same solutionarerunning in Sweden
- Just beforechristmas, therewas a pilot launchalso in Denmark at 7-Eleven stores at Reitan Convenience.The key to thesuccess is Distribution – Distribution – Distribution and ofcoursemarketing
- Paymentof dividends in Sweden for Länsforsäkringar, over 100 000 cardswith 60 millions SEKSpend anywhere, marketingcampaign.Alsothenorwegianinsurancecompany Gjensidige didpaytheir dividend as reloadable Visa cards. 88 000 cardswith a total of NOK 120 Millions.
- Closed loop Giftcards in shopping malls and at retailers 2 millioncardsannualy in Norway, 80% ofthose in november and decemberBut so far it is mostly a Basket product Look to othermarketswith gift rack malls like in UK, France and the US. Open and closed loop giftcardsarecounted as a uniqueinstorecategory and wrapped as a gift. Paper congratulationcardsare dominant in the Nordics and not electronicgiftcards.
- Whataboutprepaid in thenewworldofcontactless and mobile wallets, emergingtechnologies
- Prepaid for Arenas – Combinedcontactless and sesonalticketsaretypicalprepaidsolutions – Auto topupUK, Turkey and Poland is alsoleadingthis. In Norway therewill be launchedsolutions for somefootballclubs, pilot later thisyear and severalclubs in 2014 season
- Transport ticketing,mostlyprepaidsolutions.Butin London ordinarypayWave & Paypasscardscan be used nowon buses
- Someresults from Visa….
- Visa and Samsung has a coperationregarding Samsun S4,payWave applet prestored – Manyissuerswill offer prepaidsolutionsbaseduponthis handset
- Wywallet in Swedenare a prepaidsolutions
- Severalinitiativesalso in Denmark for mobile payments. The two non-banks solutionsaremainlyprepaidbased. Prepaid is a solution for non-banks and dispruptivepaymentsproviders to enterthemarket, whyare not the banks also in thisspace?
- Paypalcheckout/walletsolutions Isn’tthis a closed loop solutionwithcardsfundingthepaypalaccount? An innovative solutionwhereinternetpaymentsolutionsareintegrated in thephysicalworldon a betterwaythanthe banks oppositewayoftrying to takethephsyicalworldonlunbe (3DSecure). V.Me and Paypasswalletare first the last monththe banks answer to thischallenge
- In thisperiodof time with all newcustomerbehaviour, newtechnology, newplayers, banks have to comeoutoftheircomfortzone.Insidetheprepaid area, there is a lot ofinnovationgoing on. May be it is easier for banks and merchants to innovateonthesekindofsolutionsthanthe more tradional debet and creditcardssolutions?
- EVRY: A completevalueproposalfor open and closed loop prepaidsolutions
- Rememberthatthecustomersarethenewcreativeones
- The world is changingrapidly, butremeberthatthisgiveusalsonewpossibilities!