Consumer Finance

Charge cards are not significant in Peru, nor are they noted in Euromonitor International data.

When presented with a choice between a credit card and a card offering credit card-like functionality but without revolving credit, most Brazilians opt for the former. This inclination is rooted in a fundamental factor hindering charge cards from…

In June 2023, the percentage of households carrying outstanding debts in Brazil rose by a 0.2 percentage point, reaching a total of 78.5%, the highest level since November 2022. Among these households, 18.5% considered themselves heavily burdened…

Brazilians are well-acquainted with dividing payments into instalments, a practice prevalent in both traditional retail credit (known as "crediário") and credit card payments. The compounding effects of inflation, a challenging job market, and…

While in Brazil, the number of debit cards in circulation still surpasses that of credit cards, the latter is experiencing a more rapid growth trajectory. This surge in credit card usage is fuelled by the increasing digitisation of financial services…

Debit cards in Brazil have enjoyed continuous growth as an increasing number of Brazilians shift away from traditional paper-based payment methods such as cash and cheques. This transition is driven by the ongoing digitisation of financial services…

In 2023, Brazil's finance industry is undergoing rapid transformations driven by an expanding banked population, digitalisation, and advancements in open finance. Concurrently, consumers are increasingly turning to credit in the face of adverse…

Local consumers increasingly seek the ability to utilise pre-paid cards in digital domains, spanning online shopping, food delivery services, and ride-hailing platforms. Brazilians also aspire to utilise pre-paid cards in diverse contexts, including…

One notable historical factor contributing to the popularity of store cards in Brazil is the ease of acquisition. Typically, consumers can swiftly register for a store card in-store, a process often completed in five minutes or less. This…

Charge cards represent a diminishing segment within the payment industry, primarily due to their inability to provide financing options. Consumers increasingly favour credit cards over charge cards when making purchases, further contributing to the…

Charge cards, which is predominantly represented by American Express, is expected to experience a remarkable resurgence in 2023. In this year charge cards is expected to rebound to around the pre-pandemic levels of usage and card issuance. This…

While the Buy Now, Pay Later mechanism is still in its early stages in the country, new companies are emerging with innovative models, such as GOcuotas. Despite being relatively small, GOcuotas is experiencing remarkable growth, boasting an annual…

Historically, when a consumer applied for a bank loan, the commitment was typically honoured until the debt was fully repaid because the process of making a change was costly and time-consuming. In 2020, Chile introduced the Financial Portability Law…

In the early months of 2023, a challenging macroeconomic climate, coupled with low consumer confidence, high interest rates to curb demand and soaring inflation, as well as political uncertainty, resulted in a marked deceleration in the issuance of…

Consumer credit is set to show continued consistent robust growth in gross lending in 2023, driven by improving employment and business performance, and wages that continue to recover in the wake of the pandemic. However, growth will encounter…

Consumer credit has continued to witness robust growth in 2023, albeit at a moderated pace compared to the preceding two years. This growth encompasses both outstanding balances and gross lending, having already rebounded to pre-pandemic levels in…

The credit market in Argentina remains highly restricted, primarily constrained to personal loans. The funds that banks receive from their clients are predominantly funnelled into a financial instrument called Leliq, which offers a lucrative…

Chile's economy faces challenges as bank credit declined in 2022, the most negative annual variation in 30 years. The economic slowdown stems from a gradual adjustment to previous macroeconomic imbalances, with range projections of -0.5%-0.25% in…

The Colombian economy felt the effects of a slowdown in the first semester of 2023 due to a restrictive monetary policy, compounded by a significant increase in interest rates at the end of 2022. This caused credit card interest rates to rise above…

The consumer lending landscape in Mexico is expected to continue to display growth in both gross lending and the outstanding balance in 2023. 2023 is proving to be particularly favourable for the growth and expansion of fintech companies, which…