COMPETITORS ITALY PAYMENT CARDS September 2012

INTRODUCTION TO METHODOLOGY

Databank's methodology for Competitors reports begins with a careful screening to identify the main organisations that are representative of a given sector. Several one-to-one interviews are then conducted with the selected organisations. Questionnaires are sent to all the leading companies on an annual basis. The information collected is then verified by an expert in the particular sector using a system of counterchecks to guarantee that the information is entirely reliable and consistent. The process is then completed using Cerved Group's proprietary information about Italian enterprises. All Competitors reports also include details concerning the strategies and performances of the leading companies in each sector.

Wherever no specific source is indicated, the information published in these reports can be assumed to have been taken from Cerved Group's proprietary information . Coverage of any sector in Competitors products may be used in company presentations or in training courses on the subject.

www.databank.it SECTOR DESCRIPTION

Scope This report provides an analysis of the payment card market. The 's formal definition of payment cards is "plastic cards that allow payments to be made without the exchange of bank notes or coins. They may also be used to withdraw cash from automatic teller machines (ATMs) in Italy and abroad. They are normally divided into three categories: credit cards, debit cards and prepaid cards." • Products: payment cards are an electronic payment instrument used as a replacement for cash. • Functions: their main function is payment. Financing is also an important feature and is possible thanks to revolving credit cards. Another important function is withdrawal of cash from ATMs. • Clients: cards are used by retail clients, mainly comprised of families and small businesses, and corporate clients.

Segments The following segments will be analysed: • Debit cards: classic debit cards which allow the holder to withdraw cash and make payments on national and international networks; • Prepaid cards: rechargeable or disposable prepaid debit cards; • Charge cards: allow the holder to defer repayments, generally made at the end of each month; • Credit cards: cards that allow for repayments to be made in monthly instalments (includes option credit cards, where the cardholder has the choice between full lump sum repayment and monthly instalments). This report also presents market shares and rankings for: • credit card issuing: credit card issuing and related transactions; • credit card acquiring: agreements with merchants to manage payment authorisation via credit card at points of sale (POS); • prepaid cards with an IBAN (account cards): this is a sub-segment of prepaid cards - in addition to the usual prepaid card functions, these cards allow the holder to perform most functions associated with a current account; • company credit cards: credit cards for business customers; • personal credit cards: credit cards for individual consumers. This report also evaluates the contactless card market. Throughout the report, all market shares have been calculated with respect to the card issuer, as opposed to the distributor. Amongst the payment networks, Visa and Mastercard operate under a four-party system, in which issuing and acquiring are not performed by the network company but by independent and generally separate parties; acquiring involves management of the POS, whereas issuing varies according to the card used by the holder for the individual purchase. American Express, on the other hand, operates under a three-party system in which the network company also performs issuing and acquiring activities (the other two parties are the cardholder and the merchant). The present analysis does not include cards issued directly by producers of goods and/or services that may be purchased directly via the card itself, referring to a single item or the limited sum of goods and services sold by the issuing company.

www.databank.it LIST OF COMPANIES ANALYSED

AGOS-DUCATO S.P.A. CONSUM.IT S.P.A. AMERICAN EXPRESS SERVICES EUROPE LIMITED CREDEM S.P.A. S.P.A. CREDITIS SERVIZI FINANZIARI S.P.A. BANCA DELLE MARCHE S.P.A. S.P.A. S.P.A. FIDITALIA S.P.A. BANCA MONTE DEI PASCHI DI SIENA S.P.A. FINDOMESTIC BANCA S.P.A. BANCA POPOLARE DELL'EMILIA ROMAGNA S.C. FINITALIA S.P.A. S.C.A.R.L. ICCREA BANCA S.P.A. S.C. S.P.A. BANK PLC MASTERCARD EUROPE S.P.R.L BNL S.P.A. S.P.A. CARIPARMA S.P.A. SANTANDER CONSUMER BANK S.P.A. CARTALIS IMEL S.P.A. UBI BANCA S.C.P.A. CARTASÌ S.P.A. UNICARD S.P.A. CASSA CENTRALE BANCA - CREDITO COOPERATIVO S.P.A. DEL NORD EST S.P.A. CASSA DI RISPARMIO DI BOLZANO S.P.A. VENETO BANCA S.C.P.A. COMPASS S.P.A. VISA EUROPE SERVICES INC. CONSEL S.P.A.

www.databank.it CONTENTS

LIST OF COMPANIES ANALYSED 1. INTRODUCTION TO METHODOLOGY 2. SECTOR DESCRIPTION 2.1. Scope 2.2. Segments 3. EXECUTIVE SUMMARY 3.1. Key sector data 3.2. Supply and demand trends 3.3. Market leaders 3.4. Business strategies 4. SECTOR ENVIRONMENT 4.1. Sector data 4.2. Competitive forces 4.3. Notable recent events and developments 5. DEMAND ANALYSIS 6. SUPPLY ANALYSIS 6.1. Key characteristics 6.2. Sector financials 7. COMPETITIVE SCENARIO 7.1. Types of operators 7.2. Ranking of companies 7.3. Competitive performances by segment: market share 8. STRATEGIES OBSERVED 8.1. Strategic map of operators 8.2. Winning strategies 9. OPPORTUNITIES AND THREATS CONNECTED PRODUCTS AND SERVICES CONTACT COPYRIGHT

www.databank.it