Financial Cards in Colombia
Euromonitor International's Financial Cards in Colombia report establishes the size and structure of the market for ATMs, credit cards, debit cards, store cards and smart cards. It looks at key players in the market (issuers and operators), number of cards in circulation, numbers transactions and value of transactions. It offers strategic analysis of sector forecasts and trends to watch.
Buy online to access strategic market analysis and an interactive statistical database of value and volume for retail and internet transactions, number of cards in circulation and company brand shares.
Tables: 80 | Publication date: Mar 2008
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- Get insight into trends in market performance
- Pinpoint growth sectors and identify factors driving change
- Identify market and brand leaders and understand the competitive environment
Product coverage
Financial cards in circulation; Transactions
Executive summary
Colombian Economy Experiences Boom in 2006
The economy demonstrated great strength in 2006 and is expected to continue growing over the forecast period, albeit at a slower pace. The growth in 2006 can be explained by relatively low rates of interest that fuelled consumption. Other drivers of the economic boom were the revaluation of the Colombian peso and oil exports that benefited from high international prices. The dynamics of construction and the flow of foreign investment capital were also very important factors influencing high GDP growth. The increase in consumption and the greater dynamics of the economy in general fuelled the growth of financial cards in 2006.
Banks and Other Financial Card Issuers Target "Unbanked" Population
Financial card issuers are targeting those population segments they traditionally do not reach: ie those at the bottom of the income pyramid. They are seen as an opportunity to expand the financial card business by adapting to new segments of the population with different characteristics which, if approached in the right manner, could prove profitable. Initiatives from the private sector, multilateral organisations such as the World Bank and from the government, are reinforcing government-led policies that see this as an important economic development tool.
Financial Institutions Keep Reducing Because of Mergers and Acquisitions
Colombian financial institutions have continued to merge together in an effort to become stronger and more diversified. The quest for "universal banking" continues as mergers and acquisitions bring together different institutions which most of the time have different core businesses, allowing them to pursue low income segments without sacrificing other business opportunities, such as corporate clients. Also, these mergers and acquisitions bring the benefits of economies of scale making it easier to reach more potential clients. Even though these processes are expected to continue they will slow down with time. The effect on financial cards is clearly positive since they will be offered to more people and will sometimes be available as part of larger product portfolios such as micro-credits, which will expand their availability and usage.
New Players in Financial Cards Industry
A new player gaining strength in the financial card industry is Codensa's new financial card, which allows this electrical utilities company enter the financial cards market by using a great competitive advantage: the company has access to most of the households in Bogotá and other cities, and has very good knowledge of them, which makes it easier to grant credits in the right amounts to the right people, thereby reducing risk. The possibility of reaching lower income segments shows new opportunities for store cards and for other non-retail companies.
Debit and Credit Cards Consolidate As Most Important Financial Cards
Debit and credit cards have benefited from the ongoing extension of financial services to lower income consumers and to small and large companies. As consumers increasingly value time savings and convenience that these cards can provide, as well as the credit offered in the case of credit cards, these have continued to be by far the most import cards in the market. They are expected to continue doing very well in the forecast period, although slowing growth is expected as the market matures.
Table of contents
FINANCIAL CARDS IN COLOMBIA : MARKET INSIGHT
EXECUTIVE SUMMARY
Colombian Economy Experiences Boom in 2006
Banks and Other Financial Card Issuers Target "Unbanked" Population
Financial Institutions Keep Reducing Because of Mergers and Acquisitions
New Players in Financial Cards Industry
Debit and Credit Cards Consolidate As Most Important Financial Cards
KEY TRENDS AND DEVELOPMENTS
Record High GDP Growth Means Strong Consumption
Targeting the Unbanked Population
Mergers and Acquisitions
Improving Security Makes It Easier to Cover More of the Country
OPERATING ENVIRONMENT
Consumer Credit and Lending
Issuer Fraud
Acquirer Fraud
E-commerce
M-commerce
ATM and POS Terminals
Cash Withdrawal vs Card Purchase
Governmental Regulation and Legislation
MARKET INDICATORS
Table 1 Number of POS Terminals 2004-2007
Table 2 Number of ATMs 2004-2007
Table 3 Disposable Income 2002-2007
Table 4 Consumer Credit 2002-2007
Table 5 Value Lost to Fraud 2002-2007
MARKET DATA
Table 6 Financial Cards: Transactions 2002-2007
Table 7 Financial Cards: Value 2002-2007
Table 8 Financial Cards: Number of Cards in Circulation 2002-2007
Table 9 Financial Cards: Number of Accounts 2002-2007
Table 10 Domestic versus Foreign Spend 2007
Table 11 Card Expenditure by Sector 2007
Table 12 Card Expenditure by Location 2007
Table 13 Financial Cards: Number of Internet Transactions 2002-2007
Table 14 Financial Cards: Internet Transaction Value 2002-2007
Table 15 Financial Cards: Number of Cards by Issuer 2002-2006
Table 16 Financial Cards: Number of Cards by Operator 2002-2006
Table 17 Financial Cards: Point of Sale Transactions by Acquirer 2002-2006
Table 18 Financial Cards Forecast: Transactions 2007-2012
Table 19 Financial Cards Forecast: Value 2007-2012
Table 20 Financial Cards Forecast: Number of Cards in Circulation 2007-2012
Table 21 Financial Cards: Forecast Number of Accounts 2007-2012
Table 22 Financial Cards Forecast: Number of Internet Transactions 2007-2012
Table 23 Financial Cards Forecast: Internet Transaction Value 2007-2012
DEFINITIONS
Cards by Type
Cardholder Behaviour
Card Expenditure by Sector
Value Lost to Card Fraud
Consumer Credit
Market Background
Sources
Summary 1 Research Sources
LOCAL COMPANY PROFILES - COLOMBIA
ACH COLOMBIA SA - FINANCIAL CARDS - COLOMBIA
STRATEGIC DIRECTION
KEY FACTS
Summary 2 ACH Colombia SA: Key Facts
COMPANY BACKGROUND
COMPETITIVE POSITIONING
ATH SA - FINANCIAL CARDS - COLOMBIA
STRATEGIC DIRECTION
KEY FACTS
Summary 3 ATH SA: Key Facts
Summary 4 ATH SA: Operational Indicators 2004-2005
COMPANY BACKGROUND
COMPETITIVE POSITIONING
BANCO DAVIVIENDA - FINANCIAL CARDS - COLOMBIA
STRATEGIC DIRECTION
KEY FACTS
Summary 5 Banco Davivienda Key Facts
Summary 6 Banco Davivienda: Operational Indicators 2004-2006
COMPANY BACKGROUND
COMPETITIVE POSITIONING
CODENSA SA ESP - FINANCIAL CARDS - COLOMBIA
STRATEGIC DIRECTION
KEY FACTS
Summary 7 Codensa SA ESP: Key Facts
Summary 8 Codensa SA ESP: Operational Indicators 2004-2006
COMPANY BACKGROUND
COMPETITIVE POSITIONING
FESA SA - FINANCIAL CARDS - COLOMBIA
STRATEGIC DIRECTION
Key Facts
Summary 9 FESA SA: Key Facts
COMPANY BACKGROUND
COMPETITIVE POSITIONING
SMART CARDS IN COLOMBIA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 24 Smart Cards Sector Performance: 2002-2007
Table 25 Smart Cards Sector Performance: % Growth 2002-2007
Table 26 Smart Cards: Memory vs Microprocessor 2004-2007
Table 27 Smart Cards: Contact vs Contactless 2004-2007
Table 28 Smart Cards: Forecast Sector Performance: 2007-2012
Table 29 Smart Cards: Forecast Sector Performance: % Growth 2007-2012
ATM TRANSACTIONS IN COLOMBIA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 30 ATM Cards Sector Performance: 2002-2007
Table 31 ATM Cards Sector Performance: % Growth 2002-2007
Table 32 ATM Cards: Forecast Sector Performance: 2007-2012
Table 33 ATM Cards: Forecast Sector Performance: % Growth 2007-2012
DEBIT TRANSACTIONS IN COLOMBIA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 34 Debit Cards Sector Performance: 2002-2007
Table 35 Debit Cards Sector Performance: % Growth 2002-2007
Table 36 Debit Cards: Number of Cards by Issuer 2002-2006
Table 37 Debit Cards: Number of Cards by Operator 2002-2006
Table 38 Debit Cards Transactions by Acquirer 2002-2006
Table 39 Debit Cards: Forecast Sector Performance: 2007-2012
Table 40 Debit Cards: Forecast Sector Performance: % Growth 2007-2012
CREDIT CARD TRANSACTIONS IN COLOMBIA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 41 Credit Cards Sector Performance: 2002-2007
Table 42 Credit Cards Sector Performance: % Growth 2002-2007
Table 43 Personal Credit Cards Sector Performance: 2002-2007
Table 44 Personal Credit Cards Sector Performance: % Growth 2002-2007
Table 45 Corporate Credit Cards: Sector Performance: 2002-2007
Table 46 Corporate Credit Cards: Sector Performance: % Growth 2002-2007
Table 47 Credit Cards: Number of Cards by Issuer 2002-2006
Table 48 Credit Cards: Number of Cards by Operator 2002-2006
Table 49 Credit Cards Transactions by Acquirer 2002-2006
Table 50 Personal Credit Cards Transactions by Acquirer 2002-2006
Table 51 Corporate Credit Cards Transactions by Acquirer 2002-2006
Table 52 Credit Cards: Forecast Sector Performance: 2007-2012
Table 53 Credit Cards: Forecast Sector Performance: % Growth 2007-2012
Table 54 Personal Credit Cards: Forecast Sector Performance: 2007-2012
Table 55 Personal Credit Cards: Forecast Sector Performance: % Growth 2007-2012
Table 56 Corporate Credit Cards: Forecast Sector Performance: 2007-2012
Table 57 Corporate Credit Cards: Forecast Sector Performance: % Growth 2007-2012
CHARGE CARD TRANSACTIONS IN COLOMBIA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
PRE-PAID CARD TRANSACTIONS IN COLOMBIA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 58 Pre-paid Cards Sector Performance: 2002-2007
Table 59 Pre-paid Cards Sector Performance: % Growth 2002-2007
Table 60 Pre-paid Cards: Number of Cards by Issuer 2002-2006
Table 61 Pre-paid Cards: Number of Cards by Operator 2002-2006
Table 62 Pre-paid Cards Transactions by Acquirer 2002-2006
Table 63 Pre-paid Cards by Type 2004-2007
Table 64 Pre-paid Cards: Forecast Sector Performance: 2007-2012
Table 65 Pre-paid Cards: Forecast Sector Performance: % Growth 2007-2012
STORE CARD TRANSACTIONS IN COLOMBIA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 66 Store Cards Sector Performance: 2002-2007
Table 67 Store Cards Sector Performance: % Growth 2002-2007
Table 68 Store Cards: Number of Cards by Issuer 2002-2006
Table 69 Store Cards Transactions by Acquirer 2002-2006
Table 70 Store Cards: Forecast Sector Performance: 2007-2012
Table 71 Store Cards: Forecast Sector Performance: % Growth 2007-2012