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Country Report

Financial Cards and Payments in

Financial Cards and Payments in Peru

Nov 2019

US$2,100

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Executive Summary

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Financial cards and payments continues growing in 2019

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.

Banks offering new products to previously underserved segments in the digital age

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.

Cash still preferred for smaller transactions

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.

Could increasing interoperability threaten Visa’s position as the dominant operator?

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.

Continued growth expected for financial cards and payments

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

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 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:

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 Peru?
What are the major operators and issuers in Peru?
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 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.

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Financial Cards and Payments in Peru - Industry Overview

EXECUTIVE SUMMARY

Financial cards and payments continues growing in 2019

Banks offering new products to previously underserved segments in the digital age

Cash still preferred for smaller transactions

Could increasing interoperability threaten Visa’s position as the dominant operator?

Continued growth expected for financial cards and payments

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 Peru - Category analysis

PROSPECTS

Credit Cards in Peru - Category analysis

HEADLINES

PROSPECTS

Cash still generally used for smaller transactions, with credit cards associated with higher-value purchases

Number of cards in circulation continues recovery from the slowdown in growth seen in 2017

Growing presence of retailers’ former financial companies

COMPETITIVE LANDSCAPE

Visa still the dominant operator, despite Mastercard’s gains

Intercorp’s Tarjeta Oh! credit card recording strong growth

Leading credit card issuers are department stores’ financial companies like Banco Falabella or Banco Ripley

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 Peru - Category analysis

HEADLINES

PROSPECTS

Debit cards recording strong growth

Visanet “Fast Pay” function offers consumers contactless purchases

Average spend per transaction remains high for debit cards

COMPETITIVE LANDSCAPE

Leader Banco de Crédito del Perú remains active in developing new products like the YAPE mobile payments app

Visanet-Kasnet tie-up adds 7,500 new outlets that accept Visa card payments

Non-bank players increasing their share of cards in circulation

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 Peru - Category analysis

HEADLINES

PROSPECTS

Pre-paid cards an ideal solution for the unbanked population

Public transport a major driver of growth in closed loop pre-paid cards

Open loop systems popular for employee benefits cards

COMPETITIVE LANDSCAPE

Visa the clear leader in open loop pre-paid cards

Lima’s Urban Transportation Authority aims to integrate all transport systems into a single mode of payment

Starbucks’ loyalty programme operating via a closed loop pre-paid card

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 Peru - Category analysis

HEADLINES

PROSPECTS

Falabella and Ripley expanding beyond the boundaries of store cards

Store cards use a wide range of benefits to appeal to consumers

Peruvians look for discounts and special offers with their store cards

COMPETITIVE LANDSCAPE

Retailers increasingly giving their store cards the functionalities of credit cards

Banco Falabella Perú continues increasing its lead in store cards

Makro teams up with Crediscotia Financiera for its Tarjeta Única Makro store card

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 Peru

New Report Guarantee

Executive Summary

New Report Guarantee

Financial cards and payments continues growing in 2019

Banks offering new products to previously underserved segments in the digital age

Cash still preferred for smaller transactions

Could increasing interoperability threaten Visa’s position as the dominant operator?

Continued growth expected for financial cards and payments

Overview

Why buy this report?

Samples (FAQs about samples):

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Table of Contents

Financial Cards and Payments in Peru - Industry Overview

EXECUTIVE SUMMARY

Financial cards and payments continues growing in 2019

Banks offering new products to previously underserved segments in the digital age

Cash still preferred for smaller transactions

Could increasing interoperability threaten Visa’s position as the dominant operator?

Continued growth expected for financial cards and payments

MARKET INDICATORS

MARKET DATA

SOURCES

Charge Cards in Peru - Category analysis

PROSPECTS

Credit Cards in Peru - Category analysis

HEADLINES

PROSPECTS

Cash still generally used for smaller transactions, with credit cards associated with higher-value purchases

Number of cards in circulation continues recovery from the slowdown in growth seen in 2017

Growing presence of retailers’ former financial companies

COMPETITIVE LANDSCAPE

Visa still the dominant operator, despite Mastercard’s gains

Intercorp’s Tarjeta Oh! credit card recording strong growth

Leading credit card issuers are department stores’ financial companies like Banco Falabella or Banco Ripley

CATEGORY DATA

Debit Cards in Peru - Category analysis

HEADLINES

PROSPECTS

Debit cards recording strong growth

Visanet “Fast Pay” function offers consumers contactless purchases

Average spend per transaction remains high for debit cards

COMPETITIVE LANDSCAPE

Leader Banco de Crédito del Perú remains active in developing new products like the YAPE mobile payments app

Visanet-Kasnet tie-up adds 7,500 new outlets that accept Visa card payments

Non-bank players increasing their share of cards in circulation

CATEGORY DATA

Pre-Paid Cards in Peru - Category analysis

HEADLINES

PROSPECTS

Pre-paid cards an ideal solution for the unbanked population

Public transport a major driver of growth in closed loop pre-paid cards

Open loop systems popular for employee benefits cards

COMPETITIVE LANDSCAPE

Visa the clear leader in open loop pre-paid cards

Lima’s Urban Transportation Authority aims to integrate all transport systems into a single mode of payment

Starbucks’ loyalty programme operating via a closed loop pre-paid card

CATEGORY DATA

Store Cards in Peru - Category analysis

HEADLINES

PROSPECTS

Falabella and Ripley expanding beyond the boundaries of store cards

Store cards use a wide range of benefits to appeal to consumers

Peruvians look for discounts and special offers with their store cards

COMPETITIVE LANDSCAPE

Retailers increasingly giving their store cards the functionalities of credit cards

Banco Falabella Perú continues increasing its lead in store cards

Makro teams up with Crediscotia Financiera for its Tarjeta Única Makro store card

CATEGORY DATA

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Want to find out more about this report?

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