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Learn moreNov 2019
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Financial cards and payments continued to record growth in cards in circulation, transactions and overall value in 2019. Peru’s economy remains one of the fastest growing in the region, with real GDP rising, low inflation and increasing employment and wage levels.
The digital transformation taking place at the leading banks means they are able to offer new products to reach previously underserved consumer segments, such as lower-income or young consumers. The digital channel also enables banks to speed up the time it takes to provide consumers with credit as well as cut operational costs due to the reduced need for physical infrastructure.
Although value sales and transactions with credit and debit cards are increasing, these cards are still often used for higher-value purchases and less for general everyday consumption. Peruvians tend to use cash for small payments and credit and debit cards for more expensive purchases, behaviour that is encouraged by stores, which usually have a minimum transaction value for accepting card payments.
Although Mastercard and other operators like American Express are slowly gaining ground, Visa is still the dominant player at operator level. A strong point-of-sale network that allows it to have higher levels of merchant acceptance has been key to gaining and maintaining its position in the marketplace.
With employment levels and real GDP growth rates expected to continue rising in Peru, the country is also predicted to record healthy growth rates in financial cards over the forecast period. Debit cards will continue seeing strong growth, driven by increasing banking levels and expansion of merchant acceptance of these cards.
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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 Peru 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 Peru, our research will save you time and money while empowering you to make informed, profitable decisions.
The Financial Cards and Payments in Peru market research report includes:
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Why buy this report?
Euromonitor’s industry reports, including Financial Cards and Payments in Peru, 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.
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.