Global Retailer Cards: Co-Branded, Loyalty and Private Label Programs

Table of Contents

0.0 EXECUTIVE SUMMARY

• 27.0% of major retail brands worldwide have introduced their own payment card program
• … with 15.3% of these organised through captive card issuing divisions or subsidiaries
• Over 40% of cards are classifiable as private label or store cards with no international functionality
• Five banking groups control over 30% of retailer card schemes identified on an exclusive basis
• Several retailer-owned card issuers are active in the market on a multi-country basis
• Loyalty cards with no payment function are most widespread in Asia and Latin America
• … and are most commonly issued by retailers in the books, music and videos sector
• Over two thirds of loyalty cards are not offered in parallel to a retailer payment card program
• Retailer payment cards are the most important affinity and co-branding segment for card issuers
• Dynamics in the underlying retailing markets are also conducive to retailer payment card programs

1.0 INTRODUCTION

• Finaccord
• Rationale
• At the worldwide level, retailing is the most important co-branding arena for many card issuers
• The evolution of the retailing market itself also encourages the launch of retailer payment cards
• Methodology
• Finaccord' s research covers 4,370 major retail brands across 60 countries worldwide
• Product definitions

2.0 GLOBAL OVERVIEW

• Introduction
• Retailer payment cards
• Retailers in Taiwan, Brazil and Spain are most likely to have introduced their own payment card
• Worldwide, over 15% of retailer payment card programs are managed by captive issuers
• Over 60% of department stores worldwide have introduced their own co-branded or store card
• Over 40% of retailer payment cards are not linked to an international payment network
• … and the strength of the main international card networks varies substantially by region
• Five international banking groups account for over 30% of retailer card programs worldwide
• … with Grupo Santander having bolstered its presence as a result of acquisitions made in 2008
• Several retailer-owned banks are also expanding on a multi-country basis
• Retailer loyalty cards
• In relative terms, loyalty cards with no payment function are most widespread in China and Chile
• Retailers of books, music and videos display a high propensity to develop loyalty cards
• Over two thirds of loyalty cards do not run in parallel to a fully-fledged retailer payment card
• Captives and joint ventures
• Captive finance arms can be of significant strategic interest to mainstream banking institutions
• … with over 200 retail brands worldwide reporting usage of captive or joint venture card issuers

3.0 ARGENTINA

• Introduction
• Retailer payment cards
• The majority of retailer payment cards in Argentina can be classified as private label cards
• … with several retailers, including Carrefour and Falabella, using their own captive finance arms
• Argentina' s payment card market has made strong progress since the 2002 economic crisis
• Retailer loyalty cards
• 30 major retail brands in Argentina have introduced loyalty cards with no payment function

4.0 AUSTRALIA

• Introduction
• Retailer payment cards
• Slightly over 20% of Australian retailers operate their own store or co-branded payment cards
• … with GE Money having established itself as the preferred partner of a majority of brands
• The David Jones department store chain selects American Express for a new co-branded card
• Retailer loyalty cards
• FlyBuys, offered by Coles, is identifiable as the leading loyalty scheme in Australia

5.0 AUSTRIA

• Introduction
• Retailer payment cards
• Few Austrian retailers have developed their own branded payment cards
• Retailer loyalty cards
• … although almost one third have launched loyalty cards

6.0 BELGIUM

• Introduction
• Retailer payment cards
• Cetelem is the dominant partner for payment cards among Belgian retailers
• … and a number of organisations offer debit cards linked to the customers' bank accounts
• Retailer loyalty cards
• Over 40% of major retailers in Belgium have introduced loyalty cards

7.0 BRAZIL

• Introduction
• Retailer payment cards
• Over a half of the retailer payment cards identified can be defined as private label programs
• C&A' s Banco IBI has built up a portfolio of around 20 million customers across Brazil
• Cards carrying the Aura logo are accepted by over 30,000 merchants across Brazil
• Brands within the Wal-Mart grouping are affiliated to Unibanco' s Hipercard multi-partner scheme
• The store card sector continues to expand more quickly than the pay. card market as a whole
• Retailer loyalty cards
• Under a quarter of major Brazilian retailers persist with loyalty cards with no payment function

8.0 BULGARIA

• Introduction
• Retailer payment cards
• The first co-branded payment cards have begun to appear in the Bulgarian market
• Retailer loyalty cards
• … albeit retailer loyalty cards with no payment function remain far more widespread

9.0 CANADA

• Introduction
• Retailer payment cards
• A significant number of Canadian card issuers are involved in retailer payment card schemes
• … although several retailers issue cards through their own captive financial services arms
• … including the Loblaw grouping which has established President' s Choice Bank brand
• Pre-paid cards are also commonly offered by retailers in a mature market for payment cards
• Retailer loyalty cards
• Many major Canadian retailers adhere to the AIR MILES multi-partner reward program
• … which claims to have built up a portfolio of more than nine million active accounts

10.0 CHILE

• Introduction
• Retailer payment cards
• Retailer-owned card issuers dominate Chile' s payment card market
• … with around 8.8 million store cards having been issued by such banks
• … mainly to the low and middle income earners traditionally ignored by mainstream banks
• Retailers and traditional banks are collaborating to circumvent problems linked to interoperability
• Retailer loyalty cards
• Almost a half of the retailers operating a loyalty card have not launched a parallel payment card

11.0 CHINA

• Introduction
• Retailer payment cards
• Less than a quarter of major Chinese retailers have launched their own credit or debit card
• … although a substantial number have developed pre-paid cards
• Retail sales have grown at an average rate of almost 15% during the last 20 years
• … with the involvement of foreign retailers having increased in the wake of market liberalisation
• Foreign card issuers are playing a key role in China' s fast-growing credit card sector
• … undeterred by modest levels of profitability and the regulatory influence of the PBoC
• A number of factors point to continuing growth in the Chinese credit card market
• Retailer loyalty cards
• Loyalty cards have been developed by the vast majority of major retailers in China
• … although it is uncertain whether many maximise the data mining and direct mailing potential
• A variety of multi-retailer discount and loyalty schemes have been established in China
• … including the OK Card and SmartClub programs

12.0 COLOMBIA

• Introduction
• Retailer payment cards
• Only two retailers adhere to an op. model other than a link with a single, external card issuer
• GE Money returns to the Colombian consumer finance market by taking a stake in Colpatria
• Retailer cards divide more or less evenly between co-branded and private label propositions
• … with high transaction fees having persuaded some retailers to develop their own store cards
• Retailer loyalty cards
• Loyalty cards with no payment function enjoy a relatively high rate of penetration in Colombia

13.0 CROATIA

• Introduction
• Retailer payment cards
• American Express engineers a rare foray into the retailer card market by linking with Konzum
• Retailer loyalty cards
• Few retailers have established their own loyalty card programs
• … although many are linked to one or more of Croatia' s shop. centre or multi-retailer schemes

14.0 CZECH REPUBLIC

• Introduction
• Retailer payment cards
• Only a handful of major Czech retailers have yet launched a store or co-branded card
• Retailer loyalty cards
• 12 of the 15 loyalty card programs identified are unaccompanied by fully-fledged payment cards

15.0 DENMARK

• Introduction
• Retailer payment cards
• The majority of retailer cards in Denmark do not carry an international payment logo
• IKANO Finans lays claim to the greatest number of retailer partnerships for store cards
• Retailer loyalty cards
• The loyalty cards of several retailers have yet to be converted to fully-fledged payment cards

16.0 ECUADOR

• Introduction
• Retailer payment cards
• The Supermercados La Favorita grouping offers cards managed by as many as six issuers
• Retailer loyalty cards
• Several rets., including Mini Market, are affiliated to the Av Card multi-partner rewards scheme

17.0 FINLAND

• Introduction
• Retailer payment cards
• In addition to the Plussa and Ykkösbonus schemes, a number of ret. cards are in evidence
• … with Handelsbanken, Ikano Rahoitus, OP Bank and Resurs Bank all present in this market
• Nordea moves ahead by acquiring Stockmann' s payment card and cons. finance operations
• The launch of the new co-branded Stockmann MasterCard will be the main initiative in 2008
• Retailer loyalty cards
• Esprit, Lindex, MODA and Seppälä have all set up their own autonomous loyalty schemes

18.0 FRANCE

• Introduction
• Retailer payment cards
• Few retailer cards in France are linked to either the MasterCard or Visa networks
• … although the change in co-branding rules towards the end of 2007 may alter the landscape
• Joint venture issuers play a significant role in the French retailer card market
• Banque Accord has developed a number of card partnerships outside of the Auchan Group
• Finaref usurps Cofinoga as the financial services partner of the Go Sport chain
• The Aurore card alone possesses around nine million customers in France
• Retailer loyalty cards
• Almost 50% of the major French retailers surveyed operate loyalty card programs
• Groupe Laser, the immediate parent of Cofinoga, operates the S' Miles multi-partner scheme
• Maximiles is France' s only web-based multi-retailer loyalty program
• … in an e-commerce market that is believed to be growing between 40% and 50% per annum

19.0 GERMANY

• Introduction
• Retailer payment cards
• Just over 15% of large retailers in Germany have introduced their own payment card
• Santander' s acquisition of Comfort Card makes it a leader for retailer cards in Germany
• Commerzbank beefs up its co-branding portfolio by launching a card in association with eBay
• Comparatively weak utilisation of credit cards in Germany necessitates a selective approach
• Retailer loyalty cards
• Over 40 retailers lacking a payment card do possess a loyalty card
• … albeit a number belong to either the HappyDigits or PAYBACK multi-partner schemes
• The HappyDigits program has added several important partners since launch
• … and had accumulated 24 million cards by the middle of 2005
• Most expenditure through the HappyDigits pay. card remains within the KarstadtQuelle Group
• PAYBACK cardholders redeem around €6 million in bonus points each month

20.0 GREECE

• Introduction
• Retailer payment cards
• Eurobank is currently a leader in the Greek store and co-branded retailer card market
• … although Citibank enters the sector by launching the Affinity Visa card with Inditex Group
• Retailer loyalty cards
• A number of major retailers in Greece operate pure loyalty card programs

21.0 HONG KONG

• Introduction
• Retailer payment cards
• Both Jusco and Wing On fund and manage retailer cards through captive entities
• HSBC is the leading issuer of retailer cards in Hong Kong and is resp. for the Code Card
• … although it faces competition from the likes of Citibank and Standard Chartered
• Retailer loyalty cards
• Loyalty cards are offered by over 60% of major retailers in Hong Kong
• … although the schemes of individual brands face tough competition from Octopus Rewards

22.0 HUNGARY

• Introduction
• Retailer payment cards
• Three major retailers in Hungary have developed store cards in conj. with a pair of issuers
• Only IKEA' s card, issued by Cetelem Bank, can be categorised as a private label program
• Several card issuers are competing against Cetelem Bank for deals with Hungarian retailers
• Retailer loyalty cards
• A significant number of major retailers have introduced their own loyalty card programs
• … while others have elected to adhere to either the Multipont or Supershop schemes

23.0 INDIA

• Introduction
• Retailer payment cards
• ICICI Bank has developed retailer payment cards in association with four major brands
• Rising demand for credit cards should encourage the launch of further retailer payment cards
• … and the increasing influence of major overseas rets. will also help to change the landscape
• Retailer loyalty cards
• Well over a third of major retailers in India have introduced their own loyalty cards
• … with Tata Group' s Empower multi-partner loyalty program among the most successful

24.0 INDONESIA

• Introduction
• Retailer payment cards
• Only two major retailers in Indonesia operate fully-fledged payment cards at present
• Foreign retailers now account for around 38.9% of total sales in the formal retailing market
• Retailer loyalty cards
• Almost a half of major retailers in Indonesia have developed loyalty card schemes

25.0 IRELAND

• Introduction
• Retailer payment cards
• The development of store cards is limited to a minority of Ireland' s larger retailers
• Retailer loyalty cards
• The comparatively market size has dissuaded many retailers from launching loyalty cards

26.0 ITALY

• Introduction
• Retailer payment cards
• A significant proportion of Italy' s larger retailers have introduced payment cards
• … although competition forces a number of issuers to focus on one major relationship each
• Fiditalia has launched Italy' s first shopping centre card in alliance with I Granai
• … as part of an initiative that appears more practical than ind. point-of-sale finance facilities
• The card paves the way for the development of retailer-specific loyalty programs
• … and is without precedent in the Italian market
• … albeit there are several challenges associated with the program' s development
• Retailer loyalty cards
• Many Italian retailers continue to offer a loyalty card unaccompanied by a payment card

27.0 JAPAN

• Introduction
• Retailer payment cards
• Over a quarter of retailer cards in Japan are funded by captive finance entities
• … among which Aeon Credit Service is the largest and most internationally diversified firm
• … with around 2.67 million cardholders outside of Japan, including 950,000 in Hong Kong
• Mitsubishi UFJ Nicos is the most commonly used external provider of retailer cards
• … with the newly-merged company having disclosed ambitious targets for future growth
• … although the market fragments rapidly among other captive and non-captive partners
• The vast majority of retailer cards in Japan are linked to more than one payment network
• Retailer loyalty cards
• Over a half of major retailers in Japan have a loyalty card scheme up and running

28.0 MALAYSIA

• Introduction
• Retailer payment cards
• Alliance Bank and RHB Bank each account for a pair of major retailer payment cards
• Malaysia' s retailing sector, worth almost RM59 billion in 2006, is modernising rapidly
• … with restrictions designed to curtail the expansion of foreign entrants having been relaxed
• … thereby, encouraging international retailers, such as Tesco, to expand more aggressively
• Retailer loyalty cards
• Multi-merchant loyalty schemes, such as BonusLink, are a key feature of the market
• … and The Store is now able to issue loyalty cards to customers at the point of application

29.0 MEXICO

• Introduction
• Retailer payment cards
• In terms of outright number of partners, Banamex dominates the retailer payment card sector
• … with its position having been strengthened by the launch of the Affinity Card in March 2007
• Coppel and Elektra both issue payment cards through captive banking operations
• … while Chedraui has preferred to established a joint venture company for this purpose
• For a variety of reasons, the Mexican authorities are keen to encourage usage of pay. cards
• Retailer loyalty cards
• Over a third of leading Mexican retail brands operate a loyalty card with no payment facility

30.0 MIDDLE EAST

• Introduction
• Retailer payment cards
• Bahrain enjoys the highest penetration rate in the region for retailer payment cards
• … with Jawad' s card issued through the National Bank of Bahrain among the most popular
• Elsewhere in the region, initiatives for retailer payment cards are relatively thin on the ground
• Retailer loyalty cards
• More than one in five major retail brands in the Middle East operates a loyalty card scheme
• … and a number of local banks also offer loyalty programs for the benefit of their cardholders

31.0 NETHERLANDS

• Introduction
• Retailer payment cards
• Laser Nederland and Comfort Card exercise a virtual duopoly in the retailer pay. card market
• Retailer loyalty cards
• A majority of Dutch retailers offering loyalty cards have yet to launch their own payment card

32.0 NEW ZEALAND

• Introduction
• Retailer payment cards
• The majority of retailer cards in New Zealand are classifiable as private label schemes
• … although Fisher & Paykel Finance acquired the finance business of Farmers in 2003
• Retailer loyalty cards
• Not one retailer loyalty card is offered in parallel to a fully-fledged payment card

33.0 NORWAY

• Introduction
• Retailer payment cards
• The majority of retailer payment cards do not carry either the MasterCard or Visa brands
• … including all of those issued by GE Money Bank, the store card market leader in Norway
• Retailer loyalty cards
• Most Norwegian retailers that have developed a loyalty card do not offer a payment card

34.0 PARAGUAY

• Introduction
• Retailer payment cards
• Three of Paraguay' s larger retail brands have launched co-branded or private label cards
• Retailer loyalty cards
• Avon, Caro Cuore, Hering, Nike, Quijote Música y Libros and Sporthouse all offer loyalty cards

35.0 PERU

• Introduction
• Retailer payment cards
• Peru is characterised by a mix of captive and externally managed retailer pay. card schemes
• Banco Azteca harbours ambitious plans to roll out 120 branches serving lower inc. households
• The development of Banco Ripley' s Financor will benefit from Ripley' s own investment plans
• Cards are steadily replacing cheques denominated in US dollars as a preferred pay. method
• Retailer loyalty cards
• A majority of major retail brands in Peru have introduced a loyalty card with no pay. function

36.0 PHILIPPINES

• Introduction
• Retailer payment cards
• Payment cards have been developed by only a small minority of retailers in the Philippines
• … and much of the local market remains dominated by individually owned sari-sari stores
• … and major foreign retailers have been comparatively slow to expand into the country
• Retailer loyalty cards
• Loyalty cards have been launched by a clear majority of the country' s leading retailers

37.0 POLAND

• Introduction
• Retailer payment cards
• A significant number of retailer cards in Poland are linked to international payment networks
• … with Cetelem having established the most exclusive partnerships with major retailers
• Retailer loyalty cards
• The majority of retailers with a loyalty card have yet to develop a payment card

38.0 PORTUGAL

• Introduction
• Retailer payment cards
• The payment cards offered by El Corte Inglés and Jumbo are both operated through captives
• … with as many as seven issuers competing for non-captive store card mandates
• Retailer loyalty cards
• Major retailers in Portugal are comparatively unenthusiastic when it comes to loyalty cards

39.0 ROMANIA

• Introduction
• Retailer payment cards
• Société Générale' s BRD and Cetelem each lay claim to two exclusive ret. card relationships
• Retailer loyalty cards
• In addition to the 15 schemes identified, both Intersport and Mega Image plan to launch cards

40.0 RUSSIA

• Introduction
• Retailer payment cards
• Progs. for co-branded credit cards are few although pre-paid retailer gift cards are widespread
• The overall market for credit cards in Russia is believed to be growing rapidly
• Finservice is aiming to have established a base of around 500,000 custs. by the end of 2008
• GE Money Bank works for cons. credit with other retailers as well as Mosmart and Svyaznoy
• Retailer loyalty cards
• Over one third of major retailing entities in Russia offer loyalty cards with no payment function

41.0 SINGAPORE

• Introduction
• Retailer payment cards
• As in Japan and Thailand, Isetan utilises a captive finance arm for its private label card
• HSBC benefits from its status as the issuer of Dairy Farm International' s Choice Card
• … although it faces comp. from the likes of Citibank, DBS, OCBC and Standard Chartered
• Retailer loyalty cards
• The Courts Guest Club had amassed close to 320,000 members by the end of 2006
• … and a number of retailers adhere to multi-partner schemes such as Genting World

42.0 SLOVAKIA

• Introduction
• Retailer payment cards
• Most of the limited no. of cards in Slovakia carry either the MasterCard or Maestro marques
• Retailer loyalty cards
• Fully-fledged payment cards have not yet been issued by any retailers offering loyalty cards

43.0 SLOVENIA

• Introduction
• Retailer payment cards
• Mercator' s Green and Gold PIKA cards constitute Slovenia' s major store card program
• Retailer loyalty cards
• dm-drogeriemarkt, Mercator, Merkur, Takko and TUŠ have all intro. their own loyalty cards
• … while others are linked to one or more of Slovenia' s shop. centre or multi-retailer schemes
• Mercator is seeking to have won a 40% of Slovenia' s groceries retailing market by 2010
• … and had issued almost 900,000 PIKA loyalty or payment cards by the end of 2006
• The program will be extended to new sectors including banking, ins., telecoms and travel

44.0 SOUTH AFRICA

• Introduction
• Retailer payment cards
• A number of major retailers continue to issue and manage pay. cards on an in-house basis
• … although Nedbank launched its Go Banking concept in conjunction with Pick n Pay in 2001
• Many South African retailers offer customers a credit facility by means of the RCS Card
• Retailer loyalty cards
• Around one quarter of major retail brands in South Africa operate a stand-alone loyalty card

45.0 SOUTH KOREA

• Introduction
• Retailer payment cards
• Over a third of major retailers in South Korea have launched co-branded or private label cards
• LG Card maintains exclusive or shared links with 14 retailers, including Tesco' s local operation
• Other issuers competing for retailer mandates include Hyundai Card and Samsung Card
• Most retailer card schemes in South Korea are linked to more than one payment network
• South Korea has one of the highest pen. rates for credit cards of any market in the world
• … with an average figure of three credit cards per capita and over 92 million cards in circulation
• Retailer loyalty cards
• South Korea' s market is characterised by a high number of multi-partner loyalty schemes
• … including the successful OK Cashbag prog. which has signed up over 20 million members

46.0 SPAIN

• Introduction
• Retailer payment cards
• Spanish retailers are among the most enthusiastic when it comes to payment cards
• … with a majority of programs still classifiable as private label initiatives
• MBNA appears to have made little progress in the retailer card market since its entry in 2000
• Retailer loyalty cards
• Comparatively few large Spanish retailers have introduced stand-alone loyalty cards

47.0 SWEDEN

• Introduction
• Retailer payment cards
• The payment cards of six retailers are issued and managed by captive entities
• Sweden possesses a surprisingly high number of competitors jostling for retailer relationships
• Having issued around 800,000 cards, Resurs Bank is a leader in the Swedish store card sector
• Since the late 1980s, IKANO, a sister firm to IKEA, has expanded its ops. into new territories
• Retailer loyalty cards
• In excess of 25% of major Swedish retailers have introduced loyalty card programs

48.0 SWITZERLAND

• Introduction
• Retailer payment cards
• Cards issued by myOne Services are accepted at around 10,000 points of sale in Switzerland
• Credit Suisse and OZ Bankers manage the majority of non-captive retailer payment cards
• New co-branded cards launched by Coop Schweiz and Migros help to redefine the market
• Retailer loyalty cards
• Over 30% of major retailers in Switzerland have introduced loyalty cards

49.0 TAIWAN

• Introduction
• Retailer payment cards
• Over a half of the leading retailers surveyed in Taiwan have launched co-branded cards
• … all of which have been endowed with an international payment functionality
• Chinatrust Commercial Bank is the most prolific partner of retailers in this domain
• … although Taiwan' s fragmented banking sector results in lively competition for mandates
• Taiwan' s credit card market has reached maturity following several years of rapid growth
• … with the vast majority of payment cards in circulation incorporating a deferred pay. option
• Retailer loyalty cards
• The enthusiasm of Taiwanese retailers for loyalty cards lags only to that of mainland China
• … with Far Eastern Group' s Happy Go scheme having grown strongly since January 2005

50.0 THAILAND

• Introduction
• Retailer payment cards
• GE Money has been instrumental in driving Thailand' s retailer payment card market
• … with other competitors including Aeon Credit Service, Cetelem, Citibank and Kasikorn Bank
• 7-Eleven is one of the investors behind the launch of the Thai Smart Card Company
• The co-branded Visa card launched by Citibank and The Mall Group was intro. in July 2007
• Retailer loyalty cards
• Almost two thirds of leading retailers in Thailand have already introduced a loyalty card

51.0 TURKEY

• Introduction
• Retailer payment cards
• Turkey' s near-ubiquitous multi-merchant loyalty card schemes impede individual ret. initiatives
• Cards linked to multi-retailer progs. account for around 70% of all credit cards issued in Turkey
• Retailer loyalty cards
• Several major retailers in Turkey have introduced their own loyalty card programs

52.0 UK

• Introduction
• Retailer payment cards
• Almost a third of major retailers in the UK have introduced their own payment cards
• Grupo Santander entered the UK retailer card market by acquisition in March 2008
• HSBC has significantly strengthened its competitive position in the retailer card market
• … and the card issuing divisions of several other banks also lay claim to notable relationships
• Retailer loyalty cards
• Loyalty card schemes introduced by individual retailers are comparatively few in number
• … although the Nectar program has grown rapidly since its launch in September 2002
• ipoints has amassed over 60 partners and 15 reward categories since its launch in 2000
• … and lays claim to over one million members generating £1.5 million in revenues

53.0 UKRAINE

• Introduction
• Retailer payment cards
• Few retailer payment cards have yet been launched in the under-developed Ukrainian market
• Retailer loyalty cards
• … although schemes for loyalty cards with no payment function are reasonably widespread

54.0 URUGUAY

• Introduction
• Retailer payment cards
• Co-branded cards have been introduced by four supermarket chains in Uruguay
• Retailer loyalty cards
• A dozen retailers possess loyalty cards that could be converted into pay. cards in the future

55.0 USA

• Introduction
• Retailer payment cards
• Well over one third of major retail brands in the USA offer a co-branded or private label card
• World Financial Network National Bank is one of several major competitors in this sphere
• … although there are over 20 issuers of retailer cards in total, including retailer-owned captives
• A significant proportion of retailers have developed pre-paid cards for a well-defined audience
• Retailer loyalty cards
• Over one quarter of major retail brands in the USA provide a loyalty card with no pay. function

56.0 VENEZUELA

• Introduction
• Retailer payment cards
• The few retailer cards to have been launched in Venezuela are all private label products
• Banesco offers credit facilities to inds. belonging to the Club Inteligente multi-partner scheme
• Retailer loyalty cards
• Almost a half of the major retail brands surveyed offer a loyalty card with no payment function

57.0 VIETNAM

• Introduction
• Retailer payment cards
• Asia Commercial Bank has established itself as Vietnam' s leading issuer of co-branded cards
• Rapid growth rates make Vietnam one of the most attractive retailing opps. in the world
• … with consumer expenditure patterns shifting quickly in favour of organised retailing formats
• Retailer loyalty cards
• Over 40% of the country' s leading retail brands have introduced loyalty card programs

GRAPHICS / TABLES

• Major retailers covered by the research segmented by category and by region / country
• % of major retailers worldwide offering co-branded / store cards split by country, 2006-8
• % split of co-branded / store cards offered by major retailers worldwide by operating model and region, 2006-8
• % of major retailers worldwide offering co-brand. / store cards split by category of retailer, 2006-8
• % split of co-branded / store cards offered by major retailers by network / marque and region, 2006-8
• Infl. of BNP Paribas, Citigroup, GE Capital, Grupo Santander and HSBC on co-brand. / store cards , 2006-8
• % of major retailers worldwide offering loyalty cards split by region, 2006-8
• % of major retailers worldwide offering loyalty cards split by category of retailer, 2006-8
• % split of loy. cards off. by major rets. world. acc. to whether they run parallel to a co-brand. / store cd., 2006-8
• Major retailers worldwide with captive or joint venture card issuing arms, 2008
• Major retailers worldwide with captive or joint venture card issuing arms, 2008 (continued)
• Major retailers worldwide with captive or joint venture card issuing arms, 2008 (continued)
• Major retailers worldwide with captive or joint venture card issuing arms, 2008 (continued)
• Retailer payment cards in Argentina: penetration, operating models and network / issuer market shares, 2008
• Retailer loyalty cards in Argentina: penetration and provision alongside payment cards, 2008
• Retailer payment cards in Australia: penetration, operating models and network / issuer market shares, 2007-
• Retailer loyalty cards in Australia: penetration and provision alongside payment cards, 2007-8
• Retailer payment cards in Austria: penetration, operating models and network / issuer market shares, 2006-8
• Retailer loyalty cards in Austria: penetration and provision alongside payment cards, 2006-8
• Retailer payment cards in Belgium: penetration, operating models and network / issuer market shares, 2006-8
• Retailer loyalty cards in Belgium: penetration and provision alongside payment cards, 2006-8
• Retailer payment cards in Brazil: penetration, operating models and network / issuer market shares, 2008
• Retailer loyalty cards in Brazil: penetration and provision alongside payment cards, 2008
• Retailer payment cards in Bulgaria: penetration, operating models and network / issuer market shares, 2006-8
• Retailer loyalty cards in Bulgaria: penetration and provision alongside payment cards, 2006-8
• Retailer payment cards in Canada: penetration, operating models and network / issuer market shares, 2008
• Retailer loyalty cards in Canada: penetration and provision alongside payment cards, 2008
• Retailer payment cards in Chile: penetration, operating models and network / issuer market shares, 2008
• Retailer loyalty cards in Chile: penetration and provision alongside payment cards, 2008
• Retailer payment cards in China: penetration, operating models and network / issuer market shares, 2007-8
• Retailer loyalty cards in China: penetration and provision alongside payment cards, 2007-8
• Retailer payment cards in Colombia: penetration, operating models and network / issuer market shares, 2008
• Retailer loyalty cards in Colombia: penetration and provision alongside payment cards, 2008
• Retailer payment cards in Croatia: penetration, operating models and network / issuer market shares, 2006-8
• Retailer loyalty cards in Croatia: penetration and provision alongside payment cards, 2006-8
• Retailer payment cards in the Czech Rep.: penetration, op. models and network / issuer market shares, 2006-
• Retailer loyalty cards in the Czech Republic: penetration and provision alongside payment cards, 2006-8
• Retailer payment cards in Denmark: penetration, operating models and network / issuer market shares, 2006-
• Retailer loyalty cards in Denmark: penetration and provision alongside payment cards, 2006-8
• Retailer payment cards in Ecuador: penetration, operating models and network / issuer market shares, 2008
• Retailer loyalty cards in Ecuador: penetration and provision alongside payment cards, 2008
• Retailer payment cards in Finland: penetration, operating models and network / issuer market shares, 2006-8
• Retailer loyalty cards in Finland: penetration and provision alongside payment cards, 2006-8
• Retailer payment cards in France: penetration, operating models and network / issuer market shares, 2006-8
• Retailer loyalty cards in France: penetration and provision alongside payment cards, 2006-8
• Retailer payment cards in Germany: penetration, op. models and network / issuer market shares, 2006-8
• Retailer loyalty cards in Germany: penetration and provision alongside payment cards, 2006-8
• Retailer payment cards in Greece: penetration, operating models and network / issuer market shares, 2006-8
• Retailer loyalty cards in Greece: penetration and provision alongside payment cards, 2006-8
• Retailer pay. cards in Hong Kong: penetration, operating models and network / issuer market shares, 2007-8
• Retailer loyalty cards in Hong Kong: penetration and provision alongside payment cards, 2007-8
• Retailer payment cards in Hungary: penetration, operating models and network / issuer market shares, 2006-8
• Retailer loyalty cards in Hungary: penetration and provision alongside payment cards, 2006-8
• Retailer payment cards in India: penetration, operating models and network / issuer market shares, 2007-8
• Retailer loyalty cards in India: penetration and provision alongside payment cards, 2007-8
• Retailer payment cards in Indonesia: penetration, op. models and network / issuer market shares, 2007-8
• Retailer loyalty cards in Indonesia: penetration and provision alongside payment cards, 2007-8
• Retailer payment cards in Ireland: penetration, operating models and network / issuer market shares, 2006-8
• Retailer loyalty cards in Ireland: penetration and provision alongside payment cards, 2006-8
• Retailer payment cards in Italy: penetration, operating models and network / issuer market shares, 2006-8
• Retailer loyalty cards in Italy: penetration and provision alongside payment cards, 2006-8
• Retailer payment cards in Japan: penetration, operating models and network / issuer market shares, 2007-8
• Retailer loyalty cards in Japan: penetration and provision alongside payment cards, 2007-8
• Retailer payment cards in Malaysia: penetration, op. models and network / issuer market shares, 2007-8
• Retailer loyalty cards in Malaysia: penetration and provision alongside payment cards, 2007-8
• Retailer payment cards in Mexico: penetration, operating models and network / issuer market shares, 2008
• Retailer loyalty cards in Mexico: penetration and provision alongside payment cards, 2008
• Retailer payment cards in the Middle East: penetration by country, 2007-8
• Retailer payment cards in the Middle East: pen., op. models and network / issuer market shares, 2007-8
• Retailer loyalty cards in the Middle East: penetration by country, 2007-8
• Retailer loyalty cards in the Middle East: penetration and provision alongside payment cards, 2007-8
• Retailer payment cards in the N' lands: penetration, op. models and network / issuer market shares, 2006-8
• Retailer loyalty cards in the Netherlands: penetration and provision alongside payment cards, 2006-8
• Retailer payment cards in New Zealand: penetration, op. models and network / issuer market shares, 2007-8
• Retailer loyalty cards in New Zealand: penetration and provision alongside payment cards, 2007-8
• Retailer payment cards in Norway: penetration, operating models and network / issuer market shares, 2006-8
• Retailer loyalty cards in Norway: penetration and provision alongside payment cards, 2006-8
• Retailer payment cards in Paraguay: penetration, operating models and network / issuer market shares, 2008
• Retailer loyalty cards in Paraguay: penetration and provision alongside payment cards, 2008
• Retailer payment cards in Peru: penetration, operating models and network / issuer market shares, 2008
• Retailer loyalty cards in Peru: penetration and provision alongside payment cards, 2008
• Retailer payment cards in the Philippines: penetration, op. models and network / issuer market shares, 2007-8
• Retailer loyalty cards in the Philippines: penetration and provision alongside payment cards, 2007-8
• Retailer payment cards in Poland: penetration, operating models and network / issuer market shares, 2006-8
• Retailer loyalty cards in Poland: penetration and provision alongside payment cards, 2006-8
• Retailer payment cards in Portugal: penetration, operating models and network / issuer market shares, 2006-8
• Retailer loyalty cards in Portugal: penetration and provision alongside payment cards, 2006-8
• Retailer payment cards in Romania: penetration, op. models and network / issuer market shares, 2006-8
• Retailer loyalty cards in Romania: penetration and provision alongside payment cards, 2006-8
• Retailer payment cards in Russia: penetration, operating models and network / issuer market shares, 2008
• Retailer loyalty cards in Russia: penetration and provision alongside payment cards, 2008
• Retailer payment cards in Singapore: penetration, op. models and network / issuer market shares, 2007-8
• Retailer loyalty cards in Singapore: penetration and provision alongside payment cards, 2007-8
• Retailer payment cards in Slovakia: penetration, operating models and network / issuer market shares, 2006-8
• Retailer loyalty cards in Slovakia: penetration and provision alongside payment cards, 2006-8
• Retailer payment cards in Slovenia: penetration, operating models and network / issuer market shares, 2006-8
• Retailer loyalty cards in Slovenia: penetration and provision alongside payment cards, 2006-8
• Retailer payment cards in South Africa: penetration, op. models and network / issuer market shares, 2008
• Retailer loyalty cards in South Africa: penetration and provision alongside payment cards, 2008
• Retailer payment cards in South Korea: penetration, op. models and network / issuer market shares, 2007-8
• Retailer loyalty cards in South Korea: penetration and provision alongside payment cards, 2007-8
• Retailer payment cards in Taiwan: penetration, operating models and network / issuer market shares, 2007-8
• Retailer loyalty cards in Taiwan: penetration and provision alongside payment cards, 2007-8
• Retailer payment cards in Thailand: penetration, operating models and network / issuer market shares, 2007-8
• Retailer loyalty cards in Thailand: penetration and provision alongside payment cards, 2007-8
• Retailer payment cards in Spain: penetration, operating models and network / issuer market shares, 2006-8
• Retailer loyalty cards in Spain: penetration and provision alongside payment cards, 2006-8
• Retailer payment cards in Sweden: penetration, operating models and network / issuer market shares, 2006-8
• Retailer loyalty cards in Sweden: penetration and provision alongside payment cards, 2006-8
• Retailer payment cards in Switz.: penetration, operating models and network / issuer market shares, 2006-8
• Retailer loyalty cards in Switzerland: penetration and provision alongside payment cards, 2006-8
• Retailer loyalty cards in Turkey: penetration and provision alongside payment cards, 2006-8
• Retailer payment cards in the UK: penetration, operating models and network / issuer market shares, 2006-8
• Retailer loyalty cards in the UK: penetration and provision alongside payment cards, 2006-8
• Retailer payment cards in Ukraine: penetration, operating models and network / issuer market shares, 2008
• Retailer loyalty cards in Ukraine: penetration and provision alongside payment cards, 2008
• Retailer payment cards in Uruguay: penetration, operating models and network / issuer market shares, 2008
• Retailer loyalty cards in Uruguay: penetration and provision alongside payment cards, 2008
• Retailer payment cards in the USA: penetration, operating models and network / issuer market shares, 2008
• Retailer loyalty cards in the USA: penetration and provision alongside payment cards, 2008
• Retailer payment cards in Venezuela: penetration, op. models and network / issuer market shares, 2008
• Retailer loyalty cards in Venezuela: penetration and provision alongside payment cards, 2008
• Retailer payment cards in Vietnam: penetration, operating models and network / issuer market shares, 2007-8
• Retailer loyalty cards in Vietnam: penetration and provision alongside payment cards, 2007-8