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Country Report

Credit Card Transactions in

Credit Cards in Venezuela

21 pages, Nov 2018

US$990

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Executive Summary

New Report Guarantee

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

PROSPECTS

Interest rate of credit cards is fixed

In Venezuela, there are regulations for banks regarding interest rates, which are set by the BCV. For purchases made with credit cards the interest rate is capped at 29%, which is much lower than the inflation rate seen in 2018, which amounted to 1,000,000%, according to International Monetary Fund (IFM).

Although credit cards are attractive, transactions continue to decline

Credit cards are very attractive to consumers as with the presence of negative real interest rates it is a cheaper way to finance consumer goods. Credit cards maintained a level close to 20% of the total amount of the loan portfolio in Venezuela in 2017, between commercial loans with 47% of the total loan portfolio and agricultural credit with 16%.

A credit card can be a “lifesaver” for the consumer

Venezuelan consumers purchase food and medicine with this financial instrument as prices are constantly increasing and they lack purchasing power. What was once a financial instrument for acquiring white goods, brown or simply items such as a shirt, today is an aid to thousands of Venezuelan families that cannot afford everything they truly need solely with their monthly income.

COMPETITIVE LANDSCAPE

Banesco Banco Universal and Banco de Venezuela continue to lead credit cards

Banco de Venezuela and Banesco Banco Universal continued to lead credit cards in 2018. Banesco has more than six million clients due to the support that the bank has given to electronic channels, as well as its support for microcredit.

Banco de Venezuela leads in credit cards for older people

Banco de Venezuela innovates with a new system of financing and continues to promote “Cedula del Vivir Bien Pensionado”, which is directed exclusively at pensioners of the Venezuelan Institute of Social Insurance, for the purchasing of goods and services. Additionally, Banco de Venezuela has maintained a promotion called “Contributions to a minimum”, which allows users to enjoy 60 months of financing through the credit cards issued by the bank.

Public banks increase credit card limits

The public banks concentrate 29% of the total financing by credit cards of the national banking system.

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Overview

Why buy this report?

Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.

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Overview

Discover the latest market trends and uncover sources of future market growth for the Credit Card Transactions industry in Venezuela with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Credit Card Transactions industry in Venezuela, our research will save you time and money while empowering you to make informed, profitable decisions.

The Credit Card Transactions in Venezuela market research report includes:

Analysis of key supply-side and demand trends
Detailed segmentation of international and local products
Historic volumes and values, company and brand market shares
Five year forecasts of market trends and market growth
Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

What is the market size of Credit Card Transactions in Venezuela?
What are the major operators and issuers in Venezuela?
What is the current state and expected evolution of consumer payment preference?
What payment instrument offers the highest growth potential?
What strategies and positioning have consumer finance companies utilized to win in the market?

Why buy this report?

Gain competitive intelligence about market leaders
Track key industry trends, opportunities and threats
Inform your marketing, brand, strategy and market development, sales and supply functions

Euromonitor’s industry reports, including Credit Card Transactions in Venezuela, originate from our database within our Consumer Finance market share and market size database

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Charge Cards in Venezuela - Category analysis

Charge Cards in Venezuela - Company Profile

PROSPECTS

CATEGORY DATA

Table 1 Charge Cards: Number of Cards in Circulation 2013-2018
Table 2 Charge Cards Transactions 2013-2018
Table 3 Charge Cards in Circulation: % Growth 2013-2017
Table 4 Charge Cards Transactions: % Growth 2013-2017
Table 5 Commercial Charge Cards: Number of Cards in Circulation 2013-2018
Table 6 Commercial Charge Cards Transactions 2013-2018
Table 7 Commercial Charge Cards in Circulation: % Growth 2013-2014
Table 8 Commercial Charge Cards Transactions: % Growth 2013-2014
Table 9 Personal Charge Cards: Number of Cards in Circulation 2013-2018
Table 10 Personal Charge Cards Transactions 2013-2018
Table 11 Personal Charge Cards in Circulation: % Growth 2013-2018
Table 12 Personal Charge Cards Transactions: % Growth 2013-2018
Table 13 Charge Cards: Number of Cards by Issuer 2013-2017
Table 14 Charge Cards: Number of Cards by Operator 2013-2017
Table 15 Charge Cards Payment Transaction Value by Issuer 2013-2017
Table 16 Charge Cards Payment Transaction Value by Operator 2013-2017
Table 17 Commercial Charge Cards: Number of Cards by Issuer 2013-2017
Table 18 Commercial Charge Cards: Number of Cards by Operator 2013-2017
Table 19 Commercial Charge Cards Payment Transaction Value by Issuer 2013-2017
Table 20 Commercial Charge Cards Payment Transaction Value by Operator 2013-2017
Table 21 Personal Charge Cards: Number of Cards by Issuer 2013-2017
Table 22 Personal Charge Cards: Number of Cards by Operator 2013-2017
Table 23 Personal Charge Cards Transaction Value by Issuer 2013-2017
Table 24 Personal Charge Cards Transaction Value by Operator 2013-2017

Credit Cards in Venezuela - Category analysis

Credit Cards in Venezuela - Company Profile

HEADLINES

PROSPECTS

Interest rate of credit cards is fixed

Although credit cards are attractive, transactions continue to decline

A credit card can be a “lifesaver” for the consumer

COMPETITIVE LANDSCAPE

Banesco Banco Universal and Banco de Venezuela continue to lead credit cards

Banco de Venezuela leads in credit cards for older people

Public banks increase credit card limits

CATEGORY DATA

Table 25 Credit Cards: Number of Cards in Circulation 2013-2018
Table 26 Credit Cards Transactions 2013-2018
Table 27 Credit Cards in Circulation: % Growth 2013-2018
Table 28 Credit Cards Transactions: % Growth 2013-2018
Table 29 Commercial Credit Cards: Number of Cards in Circulation 2013-2018
Table 30 Commercial Credit Cards Transactions 2013-2018
Table 31 Commercial Credit Cards in Circulation: % Growth 2013-2018
Table 32 Commercial Credit Cards Transactions: % Growth 2013-2018
Table 33 Personal Credit Cards: Number of Cards in Circulation 2013-2018
Table 34 Personal Credit Cards Transactions 2013-2018
Table 35 Personal Credit Cards in Circulation: % Growth 2013-2018
Table 36 Personal Credit Cards Transactions: % Growth 2013-2018
Table 37 Credit Cards: Number of Cards by Issuer 2013-2017
Table 38 Credit Cards: Number of Cards by Operator 2013-2017
Table 39 Credit Cards Payment Transaction Value by Issuer 2013-2017
Table 40 Credit Cards Payment Transaction Value by Operator 2013-2017
Table 41 Commercial Credit Cards: Number of Cards by Issuer 2013-2017
Table 42 Commercial Credit Cards: Number of Cards by Operator 2013-2017
Table 43 Commercial Credit Cards Payment Transaction Value by Issuer 2013-2017
Table 44 Commercial Credit Cards Payment Transaction Value by Operator 2013-2017
Table 45 Personal Credit Cards: Number of Cards by Issuer 2013-2017
Table 46 Personal Credit Cards: Number of Cards by Operator 2013-2017
Table 47 Personal Credit Cards Payment Transaction Value by Issuer 2013-2017
Table 48 Personal Credit Cards Payment Transaction Value by Operator 2013-2017
Table 49 Forecast Credit Cards: Number of Cards in Circulation 2018-2023
Table 50 Forecast Credit Cards Transactions 2018-2023
Table 51 Forecast Credit Cards in Circulation: % Growth 2018-2023
Table 52 Forecast Credit Cards Transactions: % Growth 2018-2023
Table 53 Forecast Commercial Credit Cards: Number of Cards in Circulation 2018-2023
Table 54 Forecast Commercial Credit Cards Transactions 2018-2023
Table 55 Forecast Commercial Credit Cards in Circulation: % Growth 2018-2023
Table 56 Forecast Commercial Credit Cards Transactions: % Growth 2018-2023
Table 57 Forecast Personal Credit Cards: Number of Cards in Circulation 2018-2023
Table 58 Forecast Personal Credit Cards Transactions 2018-2023
Table 59 Forecast Personal Credit Cards in Circulation: % Growth 2018-2023
Table 60 Forecast Personal Credit Cards Transactions: % Growth 2018-2023

Debit Cards in Venezuela - Category analysis

Debit Cards in Venezuela - Company Profile

HEADLINES

PROSPECTS

Consumers even pay for candy with debit cards

Points of sale continue declining in 2018

Prepaid cards compete with debit cards

COMPETITIVE LANDSCAPE

Banco de Venezuela leads debit cards

Lack of raw material challenges innovation

Mastercard continues leading in debit cards

CATEGORY DATA

Table 61 Debit Cards: Number of Cards in Circulation 2013-2018
Table 62 Debit Cards Transactions 2013-2018
Table 63 Debit Cards in Circulation: % Growth 2013-2018
Table 64 Debit Cards Transactions: % Growth 2013-2018
Table 65 Debit Cards: Number of Cards by Issuer 2013-2017
Table 66 Debit Cards: Number of Cards by Operator 2013-2017
Table 67 Debit Cards Payment Transaction Value by Issuer 2013-2017
Table 68 Debit Cards Payment Transaction Value by Operator 2013-2017
Table 69 Forecast Debit Cards: Number of Cards in Circulation 2018-2023
Table 70 Forecast Debit Cards Transactions 2018-2023
Table 71 Forecast Debit Cards in Circulation: % Growth 2018-2023
Table 72 Forecast Debit Cards Transactions: % Growth 2018-2023

Pre-Paid Cards in Venezuela - Category analysis

Pre-Paid Cards in Venezuela - Company Profile

HEADLINES

PROSPECTS

Inflation increases use of prepaid cards

Prepaid cards are used for purchasing basic goods

Prepaid cards operators adapt to the country’s reality through mobile payment system innovations

COMPETITIVE LANDSCAPE

Cestaticket Accor Services leads prepaid cards

Prepaid cards now serve the same function as a debit card

CATEGORY DATA

Table 73 Pre-paid Cards: Number of Cards in Circulation 2013-2018
Table 74 Pre-paid Cards Transactions 2013-2018
Table 75 Pre-paid Cards in Circulation: % Growth 2013-2018
Table 76 Pre-paid Cards Transactions: % Growth 2013-2018
Table 77 Open Loop Pre-paid Cards Transactions 2013-2018
Table 78 Open Loop Pre-paid Cards Transactions: % Growth 2013-2018
Table 79 Pre-paid Cards: Number of Cards by Issuer 2013-2017
Table 80 Pre-paid Cards: Number of Cards by Operator 2013-2017
Table 81 Pre-paid Cards Transaction Value by Issuer 2013-2017
Table 82 Pre-paid Cards Transaction Value by Operator 2013-2017
Table 83 Open Loop Pre-paid Cards: Number of Cards by Issuer 2013-2017
Table 84 Open Loop Pre-paid Cards: Number of Cards by Operator 2013-2017
Table 85 Open Loop Pre-paid Cards Transaction Value by Issuer 2013-2017
Table 86 Open Loop Pre-paid Cards Transaction Value by Operator 2013-2017
Table 87 Forecast Pre-paid Cards: Number of Cards in Circulation 2018-2023
Table 88 Forecast Pre-paid Cards Transactions 2018-2023
Table 89 Forecast Pre-paid Cards in Circulation: % Growth 2018-2023
Table 90 Forecast Pre-paid Cards Transactions: % Growth 2018-2023
Table 91 Forecast Open Loop Pre-paid Cards Transactions 2018-2023
Table 92 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2018-2023

Store Cards in Venezuela - Category analysis

Store Cards in Venezuela - Company Profile

HEADLINES

PROSPECTS

Store card transactions continue to decline in 2018

Inflation hampers stores’ attempts to offer extra benefits

Few market players see specific benefits

COMPETITIVE LANDSCAPE

Banesco leads store cards in 2018

Operators fight to retain lead in a negative environment

Banco Universal Mercantil maintains presence with Amway, DirecTV store cards

CATEGORY DATA

Table 93 Store Cards: Number of Cards in Circulation 2013-2018
Table 94 Store Cards Transactions 2013-2018
Table 95 Store Cards in Circulation: % Growth 2013-2018
Table 96 Store Cards Transactions: % Growth 2013-2018
Table 97 Store Cards: Number of Cards by Issuer 2013-2017
Table 98 Store Cards: Payment Transaction Value by Issuer 2013-2017
Table 99 Forecast Store Cards: Number of Cards in Circulation 2018-2023
Table 100 Forecast Store Cards Transactions 2018-2023
Table 101 Forecast Store Cards in Circulation: % Growth 2018-2023
Table 102 Forecast Store Cards Transactions: % Growth 2018-2023

Financial Cards and Payments in Venezuela - Industry Overview

EXECUTIVE SUMMARY

New currency redenomination in 2018

Lack of cash increases in 2018

Number of ATMs continues to decrease in 2018

Banks adapt to the country’s reality through mobile payment system innovations

Risk in the operation of banks limits growth

MARKET INDICATORS

Table 103 Number of POS Terminals: Units 2013-2018
Table 104 Number of ATMs: Units 2013-2018
Table 105 Value Lost to Fraud 2013-2018
Table 106 Card Expenditure by Location 2017
Table 107 Financial Cards in Circulation by Type: % Number of Cards 2013-2018
Table 108 Domestic versus Foreign Spend 2018

MARKET DATA

Table 109 Financial Cards by Category: Number of Cards in Circulation 2013-2018
Table 110 Financial Cards by Category: Number of Accounts 2013-2018
Table 111 Financial Cards Transactions by Category: Value 2013-2018
Table 112 Financial Cards by Category: Number of Transactions 2013-2018
Table 113 Consumer Payments by Category: Value 2013-2018
Table 114 Consumer Payments by Category: Number of Transactions 2013-2018
Table 115 M-Commerce by Category: Value 2013-2018
Table 116 M-Commerce by Category: % Value Growth 2013-2018
Table 117 Financial Cards: Number of Cards by Issuer 2013-2017
Table 118 Financial Cards: Number of Cards by Operator 2013-2017
Table 119 Financial Cards: Card Payment Transactions Value by Operator 2013-2017
Table 120 Financial Cards: Card Payment Transactions Value by Issuer 2013-2017
Table 121 Forecast Financial Cards by Category: Number of Cards in Circulation 2018-2023
Table 122 Forecast Financial Cards by Category: Number of Accounts 2018-2023
Table 123 Forecast Financial Cards Transactions by Category: Value 2018-2023
Table 124 Forecast Financial Cards by Category: Number of Transactions 2018-2023
Table 125 Forecast Consumer Payments by Category: Value 2018-2023
Table 126 Forecast Consumer Payments by Category: Number of Transactions 2018-2023
Table 127 Forecast M-Commerce by Category: Value 2018-2023
Table 128 Forecast M-Commerce by Category: % Value Growth 2018-2023

Megatrends

Country Report

Credit Cards in Venezuela

New Report Guarantee

Executive Summary

New Report Guarantee

PROSPECTS

Interest rate of credit cards is fixed

Although credit cards are attractive, transactions continue to decline

A credit card can be a “lifesaver” for the consumer

COMPETITIVE LANDSCAPE

Banesco Banco Universal and Banco de Venezuela continue to lead credit cards

Banco de Venezuela leads in credit cards for older people

Public banks increase credit card limits

Overview

Why buy this report?

SAMPLES

Delivery Method

Overview

Why buy this report?

Want to find out more about this report?

Table of Contents

Charge Cards in Venezuela - Category analysis

Charge Cards in Venezuela - Company Profile

PROSPECTS

CATEGORY DATA

Credit Cards in Venezuela - Category analysis

Credit Cards in Venezuela - Company Profile

HEADLINES

PROSPECTS

Interest rate of credit cards is fixed

Although credit cards are attractive, transactions continue to decline

A credit card can be a “lifesaver” for the consumer

COMPETITIVE LANDSCAPE

Banesco Banco Universal and Banco de Venezuela continue to lead credit cards

Banco de Venezuela leads in credit cards for older people

Public banks increase credit card limits

CATEGORY DATA

Debit Cards in Venezuela - Category analysis

Debit Cards in Venezuela - Company Profile

HEADLINES

PROSPECTS

Consumers even pay for candy with debit cards

Points of sale continue declining in 2018

Prepaid cards compete with debit cards

COMPETITIVE LANDSCAPE

Banco de Venezuela leads debit cards

Lack of raw material challenges innovation

Mastercard continues leading in debit cards

CATEGORY DATA

Pre-Paid Cards in Venezuela - Category analysis

Pre-Paid Cards in Venezuela - Company Profile

HEADLINES

PROSPECTS

Inflation increases use of prepaid cards

Prepaid cards are used for purchasing basic goods

Prepaid cards operators adapt to the country’s reality through mobile payment system innovations

COMPETITIVE LANDSCAPE

Cestaticket Accor Services leads prepaid cards

Prepaid cards now serve the same function as a debit card

CATEGORY DATA

Store Cards in Venezuela - Category analysis

Store Cards in Venezuela - Company Profile

HEADLINES

PROSPECTS

Store card transactions continue to decline in 2018

Inflation hampers stores’ attempts to offer extra benefits

Few market players see specific benefits

COMPETITIVE LANDSCAPE

Banesco leads store cards in 2018

Operators fight to retain lead in a negative environment

Banco Universal Mercantil maintains presence with Amway, DirecTV store cards

CATEGORY DATA

Financial Cards and Payments in Venezuela - Industry Overview

EXECUTIVE SUMMARY

New currency redenomination in 2018

Lack of cash increases in 2018

Number of ATMs continues to decrease in 2018

Banks adapt to the country’s reality through mobile payment system innovations

Risk in the operation of banks limits growth