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Learn moreDec 2020
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The negative influence of the COVID-19 pandemic on the economy of Peru was evident in various indicators during 2020. The quarantine lockdown that was in effect in the country for several weeks between the middle of March and the middle of May, the closure of the country’s borders and the dramatic drop-off seen in commercial activity in crucial sectors as a result of these measures all took their toll on the personal finances of very many Peruvian people.
One of the most important trends to emerge from the COVID-19 situation in Peru’s financial card and payments industry during 2020 was the strong shift away from the use of cash and towards the use of financial cards as a payment tool in the proximity environment. This was a reflection of the fears that many people were harbouring about the potential for bank notes and coins to transmit the COVID-19 virus.
2020 saw the initiation of an alliance between two of the leading operators of financial cards in Peru. Niubiz (formerly Visanet) is the operator of Visa financial cards in the country, while Procesos Medios de Pago is the operator of the country’s MasterCard network and these two major players in the financial cards and payments industry began collaborating during the year.
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Discover the latest market trends and uncover sources of future market growth for the Debit Transactions industry in Peru with research from Euromonitor's team of in-country analysts.
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If you're in the Debit Transactions industry in Peru, our research will save you time and money while empowering you to make informed, profitable decisions.
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Euromonitor’s industry reports, including Debit Transactions in Peru, originate from our database within our Consumer Finance market share and market size database.
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