Mobile Banking forms a Major Segment of Modern Estonia Cards and Payments

Posted by Deeksha on October 31st, 2019

The mode of payment in Estonia is mostly using cards or over internet. Every fay number of cards are made by a centralized system that allows cross usage of bank cards which implies the consumer only needs to have a payment terminal for their own bank. This centralized card creating system gathers all the transactions, processes them and sends the acquired data to international payment networks and banks. An intelligence report titled, “Estonia Cards & Payments: Opportunities and Risks to 2023” is the source of all the stated insights. This report is the latest addition to Market Research Hub’s ever growing repository.

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Estonia has three primary payment systems that include STEP 2, card payment system and TARGET2-Esti. STEP2 includes all banks and settles interbank payments. Card payment system is involved in processing card payments made for purchasing goods and services. TARGET2-esti is used for making fast and large value payments. The number of ATMS have started declining for alternative payments methods have gained popularity. Digitalized solutions are being adopted by Estonian banks allowing customers to make payments without using cards. Digital banking solutions such as Holxvi and Transferlive have made their presence felt in Estonian finance segment.

E-services revive banking and finance sector

E-services and startups have revived Estonian banking and finance sector giving rise to corporate and national e-services for moving money digitally. Universal-IDs and mobile-IDs are the outcome of using e-service channels. They allow safe digital contracts and digital transactions and have enables Estonian people to return taxes digitally. Mobile banking is gaining dominance in payments segment where the user is able to perform all transaction through mobile without using internet banking.

Estonian banks and Fintech startups have come up with solutions such as TransferWise to facilitate cross border payments. TranferWise introduces the concept of open banking in Estonia that makes currency payments easy and affordable.

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Estonia cards and payment: Report Synopsis

Quantitative and qualitative assessment exhort intelligence and overarching report on the Estonia cards and payment. Further, the report thoroughly delineates various aspects of the market that will potentially have considerable influence on the development of the Estonia cards and payment. As such, those aspects incorporate drivers, trends, restraints, and opportunities. Furthermore, the report elucidates segregation of the market that provides an exhaustive analysis on Estonia cards and payment.

An insightful and deep-dive assessment of the competitive assessment of the Estonia cards and payment pins hope on Porters’ Five Force Analysis. Accordingly, the Porters’ Five Force Analysis offers a pressing analysis on the potential strategies of the preeminent players in the Estonia cards and payment. In addition, the business strategies counts on company overview, product portfolio, SWOT analysis, key differentiation and recent development. 

Estonia cards and payment: Research Methodology

Primary sources and secondary sources propel intelligence report on Estonia cards and payment that provide deep dive analysis on the market. As such, the report provides reliable and unbiased projections, and assessments which have palpable impact on the market size and historical data. Besides, the report also counts on primary sources which hinges upon in-depth and intelligent analysis from well-grounded and reliable experts, telephonic interview, and a thorough assessment from surveys and seasoned analyst.