Thailand's Credit Card Market Saturated...since Early 2006

[LaoPo]

Thailand's credit card market saturated, says Visa exec

BANGKOK, April 20 (TNA) - Thailand's credit card market has been saturated since the beginning of 2006, a senior industry executive said.

Somboon Krobtheeranond, manager of Visa International (Thailand) Co, said that new growth of credit card holders in this country is low and that credit card issuers have opted to focus on finding ways to lure cardholders to spend more by using credit cards rather than increasing the number of card holders.

Consumer behaviour has also changed as credit cards are considered by holders as a payment settlement tool rather than using them as credit cards in the usual sense, he said.

Debit cards are still enjoying high growth and at the end of December 2006, about 20.6 million Visa cards -- 13.9 million debit cards and 6.7 million credit cards -- were issued in Thailand, according to the

Visa executive.

Total spending on both cards totaled about Bt357.48 billion, up 23 per cent from the previous year. (TNA)-E111

From:

http://etna.mcot.net/query.php?nid=29018

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LaoPo

Edited April 20, 2007 by LaoPo