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Strategy Briefing

Financial Cards and Payments in Latin America

45 pages, Sep 2017

US$1,325

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About This Report

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

Card payments in Latin America steadily increased their share of total consumer payments over the survey period, and are poised to make further gains over the forecast period. Contracting economic growth created a challenging environment for financial services providers, but effective policy and innovation in paper payment alternatives contributed to a declining share for cash. Going forward, growth will depend on how well issuers are able to reach unbanked and financially underserved consumers.

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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.

Credit and debit cards are pushing expansion, dominating the growth of payment transactions

As the banked population in Latin America grows, it is credit and debit cards pushing payment transactions, and these have established themselves as the future for payment transactions in Latin America. Recessions in several countries have helped shape consumer preferences, helping them better understand and making them more inclined to accept and use card payment transactions. Most countries see credit as the leader in card payment, but debit follows very closely behind, and even leads card payment in some countries, such as Mexico.

Emergence of product innovation, with the increased use of mobile devices in transactions

With the increased prevalence of mobile devices across the region, and the use of mobile phones as magnetic card readers rocketing, Latin Americans are looking to mobile devices as the future for consumer payment transactions. Mobile payments are a small but growing component of the payments landscape, and in some markets, merchants are beginning to use mobile phones to accept card-based payments through the use of technological solutions. This is a critical development in parts of the region with underdeveloped payment infrastructure.

Global firms maintain their dominance in Latin America

Large global brands were successfully able to infiltrate the market at the beginning of the card payment boom in Latin America, and have continued to grow their shares through geographic advantage and product innovation.

Economic challenges remain a reality in Latin America

Despite increases in the number of cards in circulation and the number of transactions, several markets in Latin America are expected to experience ongoing economic challenges, with significant inflation in Venezuela and declines in total consumer payment transaction value in the region as a whole when accounting for exchange rates and inflation.

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Introduction

Scope

Key findings

Regional Overview

Consumer payment transactions remain volatile

Card payments struggle amid challenging economic realities

Consumer payments expected to grow despite recent declines

History of fluctuations gives way to cautious stability

Cash remains the dominant payment method across the region

Credit and debit cards both push financial cards forward

M-commerce increases strongly in Mexico

Card and electronic direct/ACH transactions outpace cash growth

Charge cards explodes in Argentina despite the economic crisis

Government efforts to encourage card use: A mixed bag

Financial institutions take the lead in financial inclusion

Leading Companies and Brands

Global companies use geographic presence as an advantage

Local companies struggle to dominate any market

New players and trends shake up the competitive landscape

Forecast Projections

Moderate growth of consumer payment transactions forecast

Card payments outpaces consumer payments as a whole

M-commerce value projected to see double-digit growth

Recovery of ailing markets a recurring theme in the forecast period

Too many options slow growth and fuel consumer frustration

Country Snapshots

Argentina: Market context

Argentina: Competitive and retail landscape

Argentina: M-Commerce and consumer payment value

Brazil: Market context

Brazil: Competitive and retail landscape

Brazil: M-Commerce and consumer payment value

Chile: Market context

Chile: Competitive and retail landscape

Chile: M-Commerce and consumer payment value

Colombia: Market context

Colombia: Competitive and retail landscape

Colombia: M-Commerce and consumer payment value

Mexico: Market context

Mexico: Competitive and retail landscape

Mexico: M-Commerce and consumer payment value

Venezuela: Market context

Venezuela: Competitive and retail landscape

Venezuela: M-Commerce and consumer payment value

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Megatrends

Strategy Briefing

Financial Cards and Payments in Latin America

New Report Guarantee

About This Report

New Report Guarantee

Overview

Why buy this report?

Credit and debit cards are pushing expansion, dominating the growth of payment transactions

Emergence of product innovation, with the increased use of mobile devices in transactions

Global firms maintain their dominance in Latin America

Economic challenges remain a reality in Latin America

Want to find out more about this report?

Table of Contents

Introduction

Scope

Key findings

Regional Overview

Consumer payment transactions remain volatile

Card payments struggle amid challenging economic realities

Consumer payments expected to grow despite recent declines

History of fluctuations gives way to cautious stability

Cash remains the dominant payment method across the region

Credit and debit cards both push financial cards forward

M-commerce increases strongly in Mexico

Card and electronic direct/ACH transactions outpace cash growth

Charge cards explodes in Argentina despite the economic crisis

Government efforts to encourage card use: A mixed bag

Financial institutions take the lead in financial inclusion

Leading Companies and Brands

Global companies use geographic presence as an advantage

Local companies struggle to dominate any market

New players and trends shake up the competitive landscape

Forecast Projections

Moderate growth of consumer payment transactions forecast

Card payments outpaces consumer payments as a whole

M-commerce value projected to see double-digit growth

Recovery of ailing markets a recurring theme in the forecast period

Too many options slow growth and fuel consumer frustration

Country Snapshots

Argentina: Market context

Argentina: Competitive and retail landscape

Argentina: M-Commerce and consumer payment value

Brazil: Market context

Brazil: Competitive and retail landscape

Brazil: M-Commerce and consumer payment value

Chile: Market context

Chile: Competitive and retail landscape

Chile: M-Commerce and consumer payment value

Colombia: Market context

Colombia: Competitive and retail landscape

Colombia: M-Commerce and consumer payment value

Mexico: Market context

Mexico: Competitive and retail landscape

Mexico: M-Commerce and consumer payment value

Venezuela: Market context

Venezuela: Competitive and retail landscape

Venezuela: M-Commerce and consumer payment value

Why buy this report?

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