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Country Report

Financial Cards and Payments in

Financial Cards and Payments in Colombia

Oct 2019

US$2,100

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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!

New innovative payment developments fuelling use of financial cards

Financial cards are part of the daily lives of Colombian consumers, being used for all manner of daily activities. While usage is now saturated in some areas, such cards play a major role when it comes to acquiring a vast range of different products and services.

Proposed legislation could impact operations of industry players

Fees associated with the management of financial cards, accounts and some common transactions (balance consultation, transfers, payments) charged by banks to users recently came under attack from proposed legislation by Congress. The initiative was allegedly proposed after listening to claims by users who believe fees charged by banks are high and an obstacle to further expanding the banked population.

Increasing number of households and companies using credit cards for credit

There has been an evident drop in the debt capacity of families and companies as a result of slow economic growth in Colombia, which has impacted the growth and quality of credit assets. Credit cards are useful for consumers as a quick means of accessing credit through cash advances, with this practice becoming very common.

Cash remains king, despite ongoing shift towards electronic payments

Initiatives such as the financial innovation laboratory to test the strategies and tools of financial institutions have helped companies design and adopt technologies that make it easier to gain access to financial services. Methods of payment in Colombia have been undergoing digital transformation.

Recovering economy aiding financial inclusion

Financial inclusion is a priority in Colombia, with efforts in this area involving both private and public entities. A public policy has been designed which promotes and encourages financial inclusion in the hope of creating an appropriate environment for further expansion.

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Overview

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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 Financial Cards and Payments industry in Colombia 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 Financial Cards and Payments industry in Colombia, our research will save you time and money while empowering you to make informed, profitable decisions.

The Financial Cards and Payments in Colombia market research report includes:

Analysis of key supply-side and demand trends
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 Financial Cards and Payments in Colombia?
What are the major operators and issuers in Colombia?
How will regulation impact the market?
What is the current state of emerging payment technologies such as mobile commerce?

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 Financial Cards and Payments in Colombia, originate from our database within our Consumer Finance market share and market size database, Passport, a platform which analyses Consumer Finance in 46 countries and globally.

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Financial Cards and Payments in Colombia - Industry Overview

EXECUTIVE SUMMARY

New innovative payment developments fuelling use of financial cards

Proposed legislation could impact operations of industry players

Increasing number of households and companies using credit cards for credit

Cash remains king, despite ongoing shift towards electronic payments

Recovering economy aiding financial inclusion

MARKET INDICATORS

Table 1 Number of POS Terminals: Units 2014-2019
Table 2 Number of ATMs: Units 2014-2019
Table 3 Value Lost to Fraud 2014-2019
Table 4 Card Expenditure by Location 2019
Table 5 Financial Cards in Circulation by Type: % Number of Cards 2014-2019
Table 6 Domestic versus Foreign Spend 2019

MARKET DATA

Table 7 Financial Cards by Category: Number of Cards in Circulation 2014-2019
Table 8 Financial Cards by Category: Number of Accounts 2014-2019
Table 9 Financial Cards Transactions by Category: Value 2014-2019
Table 10 Financial Cards by Category: Number of Transactions 2014-2019
Table 11 Consumer Payments by Category: Value 2014-2019
Table 12 Consumer Payments by Category: Number of Transactions 2014-2019
Table 13 M-Commerce by Category: Value 2014-2019
Table 14 M-Commerce by Category: % Value Growth 2014-2019
Table 15 Financial Cards: Number of Cards by Issuer 2014-2018
Table 16 Financial Cards: Number of Cards by Operator 2014-2018
Table 17 Financial Cards: Card Payment Transactions Value by Operator 2014-2018
Table 18 Financial Cards: Card Payment Transactions Value by Issuer 2014-2018
Table 19 Forecast Financial Cards by Category: Number of Cards in Circulation 2019-2024
Table 20 Forecast Financial Cards by Category: Number of Accounts 2019-2024
Table 21 Forecast Financial Cards Transactions by Category: Value 2019-2024
Table 22 Forecast Financial Cards by Category: Number of Transactions 2019-2024
Table 23 Forecast Consumer Payments by Category: Value 2019-2024
Table 24 Forecast Consumer Payments by Category: Number of Transactions 2019-2024
Table 25 Forecast M-Commerce by Category: Value 2019-2024
Table 26 Forecast M-Commerce by Category: % Value Growth 2019-2024

SOURCES

Summary 1 Research Sources

Charge Cards in Colombia - Category analysis

PROSPECTS

Credit Cards in Colombia - Category analysis

HEADLINES

PROSPECTS

Operators embracing co-branding and virtual cards in bid to gain market share

Focus on repurchases and pre-approved cards to attract clients

Contactless payment continues to evolve, despite some user issues

COMPETITIVE LANDSCAPE

Top players continue to consolidate leading positions via new partnerships

Poor service driving some customers away

Focusing on specific customer niches

CATEGORY DATA

Table 27 Credit Cards: Number of Cards in Circulation 2014-2019
Table 28 Credit Cards Transactions 2014-2019
Table 29 Credit Cards in Circulation: % Growth 2014-2019
Table 30 Credit Cards Transactions: % Growth 2014-2019
Table 31 Commercial Credit Cards: Number of Cards in Circulation 2014-2019
Table 32 Commercial Credit Cards Transactions 2014-2019
Table 33 Commercial Credit Cards in Circulation: % Growth 2014-2019
Table 34 Commercial Credit Cards Transactions: % Growth 2014-2019
Table 35 Personal Credit Cards: Number of Cards in Circulation 2014-2019
Table 36 Personal Credit Cards Transactions 2014-2019
Table 37 Personal Credit Cards in Circulation: % Growth 2014-2019
Table 38 Personal Credit Cards Transactions: % Growth 2014-2019
Table 39 Credit Cards: Number of Cards by Issuer 2014-2018
Table 40 Credit Cards: Number of Cards by Operator 2014-2018
Table 41 Credit Cards Payment Transaction Value by Issuer 2014-2018
Table 42 Credit Cards Payment Transaction Value by Operator 2014-2018
Table 43 Commercial Credit Cards: Number of Cards by Issuer 2014-2018
Table 44 Commercial Credit Cards: Number of Cards by Operator 2014-2018
Table 45 Commercial Credit Cards Payment Transaction Value by Issuer 2014-2018
Table 46 Commercial Credit Cards Payment Transaction Value by Operator 2014-2018
Table 47 Personal Credit Cards: Number of Cards by Issuer 2014-2018
Table 48 Personal Credit Cards: Number of Cards by Operator 2014-2018
Table 49 Personal Credit Cards Payment Transaction Value by Issuer 2014-2018
Table 50 Personal Credit Cards Payment Transaction Value by Operator 2014-2018
Table 51 Forecast Credit Cards: Number of Cards in Circulation 2019-2024
Table 52 Forecast Credit Cards Transactions 2019-2024
Table 53 Forecast Credit Cards in Circulation: % Growth 2019-2024
Table 54 Forecast Credit Cards Transactions: % Growth 2019-2024
Table 55 Forecast Commercial Credit Cards: Number of Cards in Circulation 2019-2024
Table 56 Forecast Commercial Credit Cards Transactions 2019-2024
Table 57 Forecast Commercial Credit Cards in Circulation: % Growth 2019-2024
Table 58 Forecast Commercial Credit Cards Transactions: % Growth 2019-2024
Table 59 Forecast Personal Credit Cards: Number of Cards in Circulation 2019-2024
Table 60 Forecast Personal Credit Cards Transactions 2019-2024
Table 61 Forecast Personal Credit Cards in Circulation: % Growth 2019-2024
Table 62 Forecast Personal Credit Cards Transactions: % Growth 2019-2024

Debit Cards in Colombia - Category analysis

HEADLINES

PROSPECTS

Shift towards digitalisation fuelled by development of new innovative formats

Cash remains king, despite development of digital payment systems

Debit cards increasingly used for e-commerce purchases

COMPETITIVE LANDSCAPE

Investment in innovation key to success

Companies offering incentives in bid to foster loyalty from early age

Shift away from cash for daily payments continues

CATEGORY DATA

Table 63 Debit Cards: Number of Cards in Circulation 2014-2019
Table 64 Debit Cards Transactions 2014-2019
Table 65 Debit Cards in Circulation: % Growth 2014-2019
Table 66 Debit Cards Transactions: % Growth 2014-2019
Table 67 Debit Cards: Number of Cards by Issuer 2014-2018
Table 68 Debit Cards: Number of Cards by Operator 2014-2018
Table 69 Debit Cards Payment Transaction Value by Issuer 2014-2018
Table 70 Debit Cards Payment Transaction Value by Operator 2014-2018
Table 71 Forecast Debit Cards: Number of Cards in Circulation 2019-2024
Table 72 Forecast Debit Cards Transactions 2019-2024
Table 73 Forecast Debit Cards in Circulation: % Growth 2019-2024
Table 74 Forecast Debit Cards Transactions: % Growth 2019-2024

Pre-Paid Cards in Colombia - Category analysis

HEADLINES

PROSPECTS

Demand boosted by growing interest among commercial debit card holders

Open loop pre-paid cards targeting unbanked customers

Gradual replacement of closed loop pre-paid cards

COMPETITIVE LANDSCAPE

Growth continues to be limited by poor consumer awareness

Operators focusing on providing attractive alternatives to cash

Cross functional cards exerting increasing competition

CATEGORY DATA

Table 75 Pre-paid Cards: Number of Cards in Circulation 2014-2019
Table 76 Pre-paid Cards Transactions 2014-2019
Table 77 Pre-paid Cards in Circulation: % Growth 2014-2019
Table 78 Pre-paid Cards Transactions: % Growth 2014-2019
Table 79 Closed Loop Pre-paid Cards Transactions 2014-2019
Table 80 Closed Loop Pre-paid Cards Transactions: % Growth 2014-2019
Table 81 Open Loop Pre-paid Cards Transactions 2014-2019
Table 82 Open Loop Pre-paid Cards Transactions: % Growth 2014-2019
Table 83 Pre-paid Cards: Number of Cards by Issuer 2014-2018
Table 84 Pre-paid Cards: Number of Cards by Operator 2014-2018
Table 85 Pre-paid Cards Transaction Value by Issuer 2014-2018
Table 86 Pre-paid Cards Transaction Value by Operator 2014-2018
Table 87 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2014-2018
Table 88 Closed Loop Pre-paid Cards: Number of Cards by Operator 2014-2018
Table 89 Closed Loop Pre-paid Cards Transaction Value by Issuer 2014-2018
Table 90 Closed Loop Pre-paid Cards Transaction Value by Operator 2014-2018
Table 91 Open Loop Pre-paid Cards: Number of Cards by Issuer 2014-2018
Table 92 Open Loop Pre-paid Cards: Number of Cards by Operator 2014-2018
Table 93 Open Loop Pre-paid Cards Transaction Value by Issuer 2014-2018
Table 94 Open Loop Pre-paid Cards Transaction Value by Operator 2014-2018
Table 95 Forecast Pre-paid Cards: Number of Cards in Circulation 2019-2024
Table 96 Forecast Pre-paid Cards Transactions 2019-2024
Table 97 Forecast Pre-paid Cards in Circulation: % Growth 2019-2024
Table 98 Forecast Pre-paid Cards Transactions: % Growth 2019-2024
Table 99 Forecast Closed Loop Pre-paid Cards Transactions 2019-2024
Table 100 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2019-2024
Table 101 Forecast Open Loop Pre-paid Cards Transactions 2019-2024
Table 102 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2019-2024

Store Cards in Colombia - Category analysis

HEADLINES

PROSPECTS

Store cards continue to foster customer loyalty despite growing competition

Growing focus on co-branding to attract consumers

Store card use remains limited, despite expanding benefits

COMPETITIVE LANDSCAPE

Operators looking to partner with financial companies to improve offering

Growth limited to leveraging of co-branding opportunities

New alliances providing greater range of possibilities

CATEGORY DATA

Table 103 Store Cards: Number of Cards in Circulation 2014-2019
Table 104 Store Cards Transactions 2014-2019
Table 105 Store Cards in Circulation: % Growth 2014-2019
Table 106 Store Cards Transactions: % Growth 2014-2019
Table 107 Store Cards: Number of Cards by Issuer 2014-2018
Table 108 Store Cards: Payment Transaction Value by Issuer 2014-2018
Table 109 Forecast Store Cards: Number of Cards in Circulation 2019-2024
Table 110 Forecast Store Cards Transactions 2019-2024
Table 111 Forecast Store Cards in Circulation: % Growth 2019-2024
Table 112 Forecast Store Cards Transactions: % Growth 2019-2024

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Megatrends

Country Report

Financial Cards and Payments in Colombia

New Report Guarantee

Executive Summary

New Report Guarantee

New innovative payment developments fuelling use of financial cards

Proposed legislation could impact operations of industry players

Increasing number of households and companies using credit cards for credit

Cash remains king, despite ongoing shift towards electronic payments

Recovering economy aiding financial inclusion

Overview

Why buy this report?

Samples (FAQs about samples):

Want to find out more about this report?

Table of Contents

Financial Cards and Payments in Colombia - Industry Overview

EXECUTIVE SUMMARY

New innovative payment developments fuelling use of financial cards

Proposed legislation could impact operations of industry players

Increasing number of households and companies using credit cards for credit

Cash remains king, despite ongoing shift towards electronic payments

Recovering economy aiding financial inclusion

MARKET INDICATORS

MARKET DATA

SOURCES

Charge Cards in Colombia - Category analysis

PROSPECTS

Credit Cards in Colombia - Category analysis

HEADLINES

PROSPECTS

Operators embracing co-branding and virtual cards in bid to gain market share

Focus on repurchases and pre-approved cards to attract clients

Contactless payment continues to evolve, despite some user issues

COMPETITIVE LANDSCAPE

Top players continue to consolidate leading positions via new partnerships

Poor service driving some customers away

Focusing on specific customer niches

CATEGORY DATA

Debit Cards in Colombia - Category analysis

HEADLINES

PROSPECTS

Shift towards digitalisation fuelled by development of new innovative formats

Cash remains king, despite development of digital payment systems

Debit cards increasingly used for e-commerce purchases

COMPETITIVE LANDSCAPE

Investment in innovation key to success

Companies offering incentives in bid to foster loyalty from early age

Shift away from cash for daily payments continues

CATEGORY DATA

Pre-Paid Cards in Colombia - Category analysis

HEADLINES

PROSPECTS

Demand boosted by growing interest among commercial debit card holders

Open loop pre-paid cards targeting unbanked customers

Gradual replacement of closed loop pre-paid cards

COMPETITIVE LANDSCAPE

Growth continues to be limited by poor consumer awareness

Operators focusing on providing attractive alternatives to cash

Cross functional cards exerting increasing competition

CATEGORY DATA

Store Cards in Colombia - Category analysis

HEADLINES

PROSPECTS

Store cards continue to foster customer loyalty despite growing competition

Growing focus on co-branding to attract consumers

Store card use remains limited, despite expanding benefits

COMPETITIVE LANDSCAPE

Operators looking to partner with financial companies to improve offering

Growth limited to leveraging of co-branding opportunities

New alliances providing greater range of possibilities

CATEGORY DATA

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Want to find out more about this report?

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