Latin America

The use of debit cards continues to grow and they remain the most important payment method behind cash. Further robust growth is expected in 2023 both in the number of cards in circulation and value of transactions. The performance of debit cards has…

The latest “National Survey on Cash Usage and Preferences” from Chile’s Central Bank reveals intriguing shifts in payment preferences post-pandemic. In 2022, despite another decline in value, the number of personal cash transactions rebounded to…

The high inflation rate in Argentina has led to a significant increase in the use of debit cards. The government has refrained from printing higher denomination bills, and the highest available denomination is ARS2000, roughly equivalent to USD8 at…

The landscape of credit cards in 2023 exhibits a dynamic where growth, while still apparent, has tapered in comparison to preceding years. This slowdown is a result of heightened prudence exercised by users, stemming from their concern over the…

The number of credit cards in circulation is set to witness remarkable double-digit growth in 2023, accompanied by even stronger surges in transaction volumes and values when compared with the previous year. These impressive performances not only…

In 2023, the issuance of credit cards is expected to remain almost flat, with no significant increase. Growth rates for the number and value of transactions are also expected to decelerate compared to the previous year. The value of transactions,…

Credit cards in Chile are undergoing a fascinating transformation, driven by the increasing digitalisation of consumer finance. A surge in digital transactions, including via credit and debit card operations, has led to a significant shift towards…

Banks in Argentina are grappling with a complex situation as the promotion of credit cards has become less lucrative. The regulated interest rates imposed by the Central Bank have limited the profitability of offering credit cards. Both the interest…

Consumer lending has sustained notable growth in 2023, albeit at a more tempered pace compared to the robust expansions witnessed in the preceding years. This growth encompasses both the outstanding balance and gross lending, surpassing pre-pandemic…

The consumer lending landscape in Mexico is expected to continue to display growth in both gross lending and the outstanding balance in 2023. 2023 is proving to be particularly favourable for the growth and expansion of fintech companies, which…

The Colombian economy felt the effects of a slowdown in the first semester of 2023 due to a restrictive monetary policy, compounded by a significant increase in interest rates at the end of 2022. This caused credit card interest rates to rise above…

Chile's economy faces challenges as bank credit declined in 2022, the most negative annual variation in 30 years. The economic slowdown stems from a gradual adjustment to previous macroeconomic imbalances, with range projections of -0.5%-0.25% in…

The credit market in Argentina remains highly restricted, primarily constrained to personal loans. The funds that banks receive from their clients are predominantly funnelled into a financial instrument called Leliq, which offers a lucrative…

Consumer credit has continued to witness robust growth in 2023, albeit at a moderated pace compared to the preceding two years. This growth encompasses both outstanding balances and gross lending, having already rebounded to pre-pandemic levels in…

Consumer credit is set to show continued consistent robust growth in gross lending in 2023, driven by improving employment and business performance, and wages that continue to recover in the wake of the pandemic. However, growth will encounter…

In the early months of 2023, a challenging macroeconomic climate, coupled with low consumer confidence, high interest rates to curb demand and soaring inflation, as well as political uncertainty, resulted in a marked deceleration in the issuance of…

Historically, when a consumer applied for a bank loan, the commitment was typically honoured until the debt was fully repaid because the process of making a change was costly and time-consuming. In 2020, Chile introduced the Financial Portability Law…

While the Buy Now, Pay Later mechanism is still in its early stages in the country, new companies are emerging with innovative models, such as GOcuotas. Despite being relatively small, GOcuotas is experiencing remarkable growth, boasting an annual…

Charge cards, which is predominantly represented by American Express, is expected to experience a remarkable resurgence in 2023. In this year charge cards is expected to rebound to around the pre-pandemic levels of usage and card issuance. This…

Charge cards represent a diminishing segment within the payment industry, primarily due to their inability to provide financing options. Consumers increasingly favour credit cards over charge cards when making purchases, further contributing to the…