Links Sitemap Business Linker Sitemap

MasterCard's acceptance footprint in Romania is UNMATCHED

1047 afisari
Pleased to see a 24 per cent hike in Q1 card payments total value, Cosmin Vladimirescu, MasterCard's General Manager for Romania, is confident that more and more local consumers will discover the benefits of card payments. In an interview with Business Arena, the MasterCard official emphasized that the company was prepared to continue to support its partners in an effort to expand the electronic payment acceptance network.
The National Bank of Romania has recently published the data for Q1 2016. What can you tell us about the recent evolution of card payments in Romania?
We were eager to see the NBR data for Q1 2016 and to assess the evolution of the cards market, given that, last year we had a series of ample local campaigns designed to boost card usage. And, indeed, the results speak for themselves - in the first three months of 2016, the total value of card payments in Romania increased by 24% year-on- year, whereas the number of card payments went up by nearly 26%, over the same period.
 At the same time, we are witnessing a trend of “normalization” in terms of consumer behavior, when looking at the decrease in the average value of the card payments, from RON 145, in Q4 2015, to 134, in Q1 2016. This shows that more and more Romanian consumers no longer see their card as an accessory for purchasing high-value goods, but as the usual way of paying for their everyday shopping - the lunch meal, the bottle of water in a nearby shop when it’s hot outside, their favorite magazine at the newsstand, and so on.
This trend has been strongly supported by the pacey advance of the contactless technology, which is specially designed to fit the needs of daily purchases – it’s fast and convenient. MasterCard has been driving the expansion of the contactless technology locally, and we are delighted to see it gaining more and more traction amongst consumers. This also reflects in MasterCard figures - the volumes transacted in Romania through MasterCard and Maestro contactless cards rose tenfold in 2015, when compared to 2014, whereas the number of transactions increased by more than 600% year-on- year. The data of our portfolio also confirms that card payments are becoming a habit when shopping - the average contactless payment through MasterCard and Maestro cards was, in Q4 2015, of RON 60, less than half of the average card payment. However, we have to be realistic and keep in mind that the potential of the local market is still vastly unexplored, as there are large segments of population with very limited access to any type of banking instrument. Luckily, we have seen some recent developments aimed at increasing card usage and we are confident that this tremendous evolution will be the launch pad for further growth for cards pay­ments in Romania, should the stakeholders continue to keep an eye open for the growing consumer base of electronic payment.

What do you feel should be done for maintaining this growth trend?
At MasterCard, we are confident that the importance of card payments is becoming more and more evident to consumers, and the market should therefore adapt itself accordingly. Increasing card payments is a two-way effort for MasterCard – we feel the best approach should mix incentives for consumers with a constant increase in the card acceptance base – and this is what we have done. According to the Central Bank’s figures for Q1 2016, the nationwide acceptance footprint is encompassing more than 144.500 POS terminals. At the same time, given its unmatched public transportation acceptance, MasterCard is the most accepted card in Romania. We are constantly creating new business segments for card payments
in Romania through our groundbreaking partnerships, such as contactless card payments at vending machines or the implementation of mobile POS terminals for insurance agents or couriers. Moreover,
we have built on consumers’ very positive feedback upon enabling card payments at local cultural festivals, where the speed, safety and convenience of card payments are easily visible, and we will continue to meet their needs and expectations, providing them with a superior payment experience.

Could you provide a synopsis for this year’s expectations, in terms of cards usage?
We are looking with excitement at the prospects of the Romanian cards market. There is much work to be done, but the current context is full of potential. Recent legislative initiatives and regulations, such as the reduction of interchange fees, as well as the cash-back law, one that we have fully supported and will continue to do so, should help outline a mindset for retailers that allows them to spot this avail­a­bility of consumers towards card payments, and to differentiate themselves, by expanding their acceptance horizon and meeting this growing need amongst consumers. We will continue to support all partners and stakeholders that share this belief of ours and that seek to expand the acceptance network of electronic payments.

The editorial is also available in our print edition.

S-ar putea să îți placă:


COMENTARII:
Fii tu primul care comenteaza