Payment Organization
TransFonD (Societatea Nationala de Transfer de Fonduri si Decontari) is the interbank organization.
Domestic Card Brand
None.
Market Structure
- Cash remains the predominant payment instrument; credit transfers and cheques are used alongside debit cards, which were first issued in 1997. Debit cards are principally used for cash withdrawals.
- Total cards issued rose from 2.1 million in 2001 to 14.96 million in 2015, lifting penetration to 0.75 cards per capita. Rapid growth of card use.
- The banking sector is foreign-dominated, with mainly western banks accounting for 90.2% of the total bank assets.
Notable Market Trends
Contactless cards and POS terminals, QR-codes, NFC payment pilots; MasterCard MoneySend Service, M-Pesa mobile money transfer.
Updated Information About:
Major Issuers, Major Acquirers, Major Processors and Consumer Finance indicator.Statistical Key Figures for 2015 provided in this profile:
- UPDATED: tables with card business data 2011-2015; growth rates: Y-o-Y, CAGR
- Population, Cards per Capita, Card Value per Capita
- Debit Cards, Credit/Delayed Debit Cards, Total Cards
- Card payments by number and by value, ATV per card, payments per card/year
- ATMs, POS terminals, ATMs/POS terminals per 1 million capita
- ATM withdrawals by number/by value, ATV per withdrawal, TXs per ATM/month
- POS payments by number/by value, ATV per POS payment, TXs per POS/month
- Internet Use, e-payment mix, B2C e-Commerce by value and growth rate
- Issued Card brands by individual major issuer bank
- Accepted card brands by individual major acquirer
- Drill down into the debit card use and credit cards use details
