The Romanian bankcard market still has a significant growth potential, even in comparison with other markets in the region, according to Michael Lafferty, Chairman of Lafferty Group - a renowned independent international organisation involved in retail banking research. "Many of the large markets in Eastern Europe, in terms of number of cards issued, have yet to achieve their potential in terms of penetration rate," says Michael Lafferty. In terms of the number of cards in circulation, Romania is the fifth largest market, out of the nine that Lafferty includes in the region. With around 17 million cards in circulation, Romania is far behind Russia and Turkey, which have in excess of 90 million cards, and even some distance behind Ukraine, where there are almost 40 million cards. Only the markets in Czech Republic, Hungary, Slovakia and Slovenia are behind the Romanian market, but they are much smaller in terms of the number of potential clients.
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