Financial Cards in Venezuela
Euromonitor International's Financial Cards in Venezuela 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.
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Tables: 101 | 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
Financial cards expanding to low-income population
Financial cards continued expanding in Venezuela across all areas in 2007. This was due to higher demand fuelled by high liquidity, improved incomes and low interest rates. The aggressive offer of products and services also reached low-income consumers, as players attempted to increase the banked population.
Government controls lead to pre-paid card boom
Pre-paid cards grew most rapidly in 2007. This was due to the effect of the government’s growing regulations such as the Law of Workers Alimentation, which boosted the number of pre-paid food cards, as well as exchange controls. These controls led to the creation of pre-paid cards for administering the quota in dollars to the non-banked population. This led to the introduction and development of pre-paid cards in Venezuela over the last years of the review period.
Renewed attention to corporate credit cards
Corporate credit cards registered the second strongest growth in card volume in 2007. This was due to renewed attention being paid to these cards as part of new banking strategies to attend small entrepreneurs and companies. Players developed more specific products adapted to their needs and designed to boost the usage of such cards. This trend was also supported by the government’s interest in developing micro and small companies, a development that is considered economically vital and to have a large potential for growth in the country.
MasterCard and Banco Provincial leading in number of financial cards
MasterCard as financial card operator continue its supremacy in terms of the total number of financial cards, due to its dominance in debit and pre-paid cards, while Visa dominates credit cards. Banco Provincial took the leading position in terms of card issuers, due to its strength in debit cards and its strong dynamism in the dynamic corporate credit cards with innovative products. This player is closely followed by Banco de Venezuela and Banesco, which benefit from offering a wide variety of products, including debit cards, credit cards, charge cards, pre-paid cards and storecards.
Credit cards to continue growth over the forecast period
Most financial card areas are forecast to continue growing over the forecast period. Growth in credit cards is expected to outpace debit cards due to the smaller number of such cards in circulation and as financial services expand the banked population. Nevertheless, due to the strong increases in cards supplied by the government and a transition to smart cards from a low base in the country, both these card types are expected to beat out credit cards for growth in cards in circulation.
Table of contents
FINANCIAL CARDS IN VENEZUELA : MARKET INSIGHT
EXECUTIVE SUMMARY
Financial cards expanding to low-income population
Government controls lead to pre-paid card boom
Renewed attention to corporate credit cards
MasterCard and Banco Provincial leading in number of financial cards
Credit cards to continue growth over the forecast period
KEY TRENDS AND DEVELOPMENTS
High GDP growth and credit boom prolonged in 2007
Government’s increased control benefits financial cards
Growing efforts to market financial cards toward low-income target
Card culture evolving
OPERATING ENVIRONMENT
Consumer Credit and Lending
Issuer Fraud
Acquirer fraud
E-commerce
M-commerce
ATM and POS terminals
Cash Withdrawal vs Card purchases
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 - VENEZUELA
BANCO DE VENEZUELA SA BANCO UNIVERSAL - FINANCIAL CARDS - VENEZUELA
STRATEGIC DIRECTION
KEY FACTS
Summary 2 Banco de Venezuela SA Banco Universal: Key Facts
Summary 3 Banco de Venezuela: Operational Indicators
COMPANY BACKGROUND
COMPETITIVE POSITIONING
BANCO MERCANTIL CA - FINANCIAL CARDS - VENEZUELA
STRATEGIC DIRECTION
KEY FACTS
Summary 4 Banco Mercantil CA: Key Facts
Summary 5 Banco Mercantil: Operational Indicators
COMPANY BACKGROUND
COMPETITIVE POSITIONING
BANCO OCCIDENTAL DE DESCUENTO CA - FINANCIAL CARDS - VENEZUELA
STRATEGIC DIRECTION
KEY FACTS
Summary 6 Banco Occidental de Descuento CA: Key Facts
Summary 7 Banco Occidental de Descuento CA: Operational Indicators
COMPANY BACKGROUND
COMPETITIVE POSITIONING
BANESCO BANCO UNIVERSAL CA - FINANCIAL CARDS - VENEZUELA
STRATEGIC DIRECTION
KEY FACTS
Summary 8 Banesco Banco Universal CA: Key Facts
Summary 9 Banesco Banco Universal CA: Operational Indicators
COMPANY BACKGROUND
COMPETITIVE POSITIONING
INTELIGENSA SA - FINANCIAL CARDS - VENEZUELA
STRATEGIC DIRECTION
KEY FACTS
Summary 10 Inteligensa: Key Facts
COMPANY BACKGROUND
COMPETITIVE POSITIONING
SMART CARDS IN VENEZUELA
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 VENEZUELA
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 VENEZUELA
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 VENEZUELA
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 VENEZUELA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 58 Charge Cards Sector Performance: 2002-2007
Table 59 Charge Cards Sector Performance: % Growth 2002-2007
Table 60 Personal Charge Cards Sector Performance: 2002-2007
Table 61 Personal Charge Cards Sector Performance: % Growth 2002-2007
Table 62 Corporate Charge Cards: Sector Performance: 2002-2007
Table 63 Corporate Charge Cards: Sector Performance: % Growth 2002-2007
Table 64 Charge Cards: Number of Cards by Issuer 2002-2006
Table 65 Charge Cards: Number of cards by Operator 2002-2006
Table 66 Charge Cards Transactions by Acquirer 2002-2006
Table 67 Charge Cards Transaction Value by Operator 2002-2006
Table 68 Personal Charge Cards Transactions by Acquirer 2002-2006
Table 69 Personal Charge Cards Transaction Value by Operator 2002-2006
Table 70 Corporate Charge Cards Transactions by Acquirer 2002-2006
Table 71 Corporate Charge Cards Transaction Value by Operator 2002-2006
Table 72 Charge Cards: Forecast Sector Performance: 2007-2012
Table 73 Charge Cards: Forecast Sector Performance: % Growth 2007-2012
Table 74 Personal Charge Cards: Forecast Sector Performance: 2007-2012
Table 75 Personal Charge Cards: Forecast Sector Performance: % Growth 2007-2012
Table 76 Corporate Charge Cards: Forecast Sector Performance: 2007-2012
Table 77 Corporate Charge Cards: Forecast Sector Performance: % Growth 2007-2012
PRE-PAID CARD TRANSACTIONS IN VENEZUELA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 78 Pre-paid Cards Sector Performance: 2002-2007
Table 79 Pre-paid Cards Sector Performance: % Growth 2002-2007
Table 80 Pre-paid Cards: Number of Cards by Issuer 2002-2006
Table 81 Pre-paid Cards: Number of cards by Operator 2002-2006
Table 82 Pre-paid Cards Transactions by Acquirer 2002-2006
Table 83 Pre-paid Cards by Type 2004-2007
Table 84 Pre-paid Cards: Forecast Sector Performance: 2007-2012
Table 85 Pre-paid Cards: Forecast Sector Performance: % Growth 2007-2012
STORE CARD TRANSACTIONS IN VENEZUELA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 86 Store Cards Sector Performance: 2002-2007
Table 87 Store Cards Sector Performance: % Growth 2002-2007
Table 88 Store Cards: Number of Cards by Issuer 2002-2006
Table 89 Store Cards Transactions by Acquirer 2002-2006
Table 90 Store Cards: Forecast Sector Performance: 2007-2012
Table 91 Store Cards: Forecast Sector Performance: % Growth 2007-2012