Peru’s Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape

The Peruvian economy was impacted heavily by the global financial crisis, with its GDP growth decelerating from 9.8% in 2008 to 0.9% in 2009. Its economy recovered immediately in 2010, however, recording a GDP growth of 8.8%, mainly due to strong macroeconomic indicators, a sound banking system and a prudent fiscal policy, which in turn improved employment levels and per capita income. Improvements in income levels offered a wider market to banks and financial companies, as they were able to serve a larger section of society, resulting in growth of the Peruvian cards and payments industry during the review period (2009–2013).

The Peruvian card payments channel grew at a healthy pace during the review period, both in terms of volume and value. In terms of the number of cards in circulation, the channel increased from 19.4 million in 2009 to 24.7 million in 2013, at a review-period compound annual growth rate (CAGR) of 6.33%. Over the forecast period, this channel is anticipated to register a CAGR of 8.24%, reaching 38.2 million cards by the end of 2018.

In terms of transaction value, card payments increased at a review-period CAGR of 29.03%. This figure is forecast to increase at a forecast-period CAGR of 18.24%.

Many factors have contributed to the growth of the Peruvian card payments channel over the review period, both in volume and value. Examples of this include the government’s initiative to provide banking access through the financial inclusion plan, the growing popularity of payment cards, the availability of retail bank agents in every part of the country, and banks’ aggressive promotional strategies.

Scope

• GlobalData's 'Peru's Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape' report provides a comprehensive analysis of Peru's cards and payments industry.

• It provides current values for Peru's cards and payments industry for 2013, and forecast figures for 2018.

• It details the different economic, infrastructural and business drivers affecting Peru's cards and payments industry.

• It outlines the current regulatory framework in the industry.

• It details the marketing strategies used by various banks and other institutions.

• It profiles the major banks in Peru's cards and payments industry.

Key Highlights

• The Peruvian card payments channel grew at a healthy pace during the review period, both in terms of volume and value. In terms of the number of cards in circulation, the channel increased from 19.4 million in 2009 to 24.7 million in 2013, at a review-period CAGR of 6.33%. Over the forecast period, this channel is anticipated to register a CAGR of 8.24%, reaching 38.2 million cards by the end of 2018.

• In terms of transaction value, card payments increased at a review-period CAGR of 29.03%. This figure is forecast to increase at a forecast-period CAGR of 18.24%.

• In 2005, regulations were introduced which allowed banks to offer financial services through third-party agents, subject to prior authorization from the Banking and Insurance Superintendency (SBS). Agents are typically small retail establishments through which banks are able to execute financial transactions such as loan payments, withdrawals, transfers, deposits to a customer or a third party’s account, payments on goods or services, and other functions permitted by the SBS.

Reasons to buy

• Make strategic business decisions using top-level historic and forecast market data related to Peru's cards and payments industry and each market within it.

• Understand the key market trends and growth opportunities within Peru's cards and payments industry.

• Assess the competitive dynamics in Peru's cards and payments industry.

• Gain insights in to the marketing strategies used for selling various card types in Peru.

• Gain insights into key regulations governing Peru's cards and payments industry.

Companies mentioned

Banco de Crédito del Perú

Banco Financiero

Interbank

BBVA Continental

Banco Falabella

American Express

Diners Club

MasterCard

Visa

Table of Contents

1 Executive Summary

2 Analysis of Market Environment, Key Trends and Drivers

2.1 Payment Infrastructure and Emerging Technology

2.1.1 Rising internet penetration

2.1.2 Growing mobile payments

2.1.3 Automated teller machines (ATMs)

2.1.4 Agents and low cost banking channels

2.1.5 Point-of-sale (POS) terminals

2.2 Business Drivers

2.2.1 Growth in retail industry

2.2.2 Growth in e-commerce

2.3 Economic Drivers

2.3.1 GDP growth

2.3.2 GDP per capita

2.3.3 Inflation

3 Cards and Payments Industry Share Analysis

3.1 Industry Overview

3.1.1 Credit transfer

3.1.2 Check payments

3.1.3 Card transactions

3.1.4 Cash transactions

3.1.5 Direct debit

4 Regulatory Framework and Card Fraud Statistics

4.1 Regulatory Framework

4.1.1 Overview

4.1.2 Anti-money laundering (AML) and terrorist financing (TF)

4.1.3 Foreign direct investment (FDI) regulations

4.2 Card Fraud Statistics

4.2.1 Card-not-present fraud

4.2.2 Counterfeit card fraud

4.2.3 Lost or stolen card

4.2.4 Card ID theft

5 Emerging Consumer Attitudes and Trends

5.1 Industry Segmentation and Targeting

5.1.1 Retail segment

5.1.2 Corporate segment

5.2 Travel and Tourism Spending

5.2.1 Outbound tourist trips

5.2.2 Outbound tourist spending

5.3 Retail Card Spending

5.3.1 Analysis by product categories

5.3.2 Analysis by retail channel

6 Analysis of Card Payments and Growth Prospects

6.1 Channel Share Analysis by Card Category

6.2 Size and Forecast of the Card Payments Channel

6.2.1 Analysis by number of cards in circulation

6.2.2 Analysis by transaction value

7 Analysis of Credit Card Payments and Growth Prospects

7.1 Overall Category Size and Forecast

7.1.1 Analysis by number of cards in circulation

7.1.2 Analysis by transaction value

7.1.3 Analysis by transaction volume

7.2 Transaction Share Analysis by Channel

7.2.1 Analysis by transaction value

7.2.2 Analysis by transaction volume

7.3 Personal Credit Cards Segment Size and Forecast

7.3.1 Analysis by number of cards in circulation

7.3.2 Analysis by transaction value

7.3.3 Analysis by transaction volume

7.4 Commercial Credit Cards Segment Size and Forecast

7.4.1 Analysis by number of cards in circulation

7.4.2 Analysis by transaction value

7.4.3 Analysis by transaction volume

7.5 Competitive Landscape

7.5.1 Scheme share analysis

7.5.2 Issuer share analysis

8 Analysis of Debit Card Payments and Growth Prospects

8.1 Overall Category Size and Forecast

8.1.1 Analysis by number of cards in circulation

8.1.2 Analysis by transaction value

8.1.3 Analysis by transaction volume

8.2 Transaction Share Analysis by Channel

8.2.1 Analysis by transaction value

8.2.2 Analysis by transaction volume

8.3 Competitive Landscape

8.3.1 Scheme share analysis

8.3.2 Issuer share analysis

9 Analysis of Prepaid Card Payments and Growth Prospects

9.1 Overall Category Size and Forecast

9.1.1 Analysis by number of cards in circulation

9.1.2 Analysis by transaction value

9.2 Open-Loop Prepaid Cards Segment Size and Forecast

9.2.1 Analysis by number of cards in circulation

9.2.2 Analysis by transaction value

9.3 Closed-Loop Prepaid Cards Segment Size and Forecast

9.3.1 Analysis by number of cards in circulation

9.3.2 Analysis by transaction value

10 Merchant Acquiring

11 Company Profiles of Card Issuers

11.1 Banco de Crédito del Perú (BCP)

11.1.1 Key financials

11.1.2 Card portfolio

11.1.3 Strategies

11.2 Banco Financiero

11.2.1 Key financials

11.2.2 Card portfolio

11.2.3 Strategies

11.3 Interbank

11.3.1 Key financials

11.3.2 Card portfolio

11.3.3 Strategies

11.4 BBVA Continental

11.4.1 Key financials

11.4.2 Card portfolio

11.4.3 Strategies

11.5 Banco Falabella

11.5.1 Card portfolio

11.5.2 Strategies

12 Appendix

12.1 Methodology

12.2 Contact GlobalData

12.3 About GlobalData

12.4 GlobalData’s Services

12.5 Definitions

12.6 Disclaimer

List of Tables

Table 1: Peruvian Payment Channels (PEN Billion), 2009-2013

Table 2: Market Entry Strategies of Foreign Banks

Table 3: Peruvian Card Fraud (PEN Thousand), 2009-2013

Table 4: Peruvian Cards for High-Income Customers

Table 5: Peruvian Shopping Cards by Bank

Table 6: Peruvian Cards Offered to Low Income Customers by Bank

Table 7: Peruvian Travel Cards by Bank

Table 8: Peruvian Cards Offered for SMEs and Large Corporations by Bank

Table 9: Peruvian Consumer Card Spending by Product Category (PEN Million), 2008 and 2012

Table 10: Peruvian Consumer Card Spending by Retail Channel (PEN Million), 2008 and 2012

Table 11: Peruvian Card Payments Channel by Card Category (Million), 2009-2018

Table 12: Peruvian Card Payments Channel Size by Volume of Cards (Million), 2009-2018

Table 13: Peruvian Card Payments Channel Size by Transaction Value (PEN Billion), 2009-2018

Table 14: Peruvian Card Payments Channel Size by Transaction Value (US$ Billion), 2009-2018

Table 15: Peruvian Credit Cards Category Size by Volume of Cards (Million), 2009-2018

Table 16: Peruvian Credit Cards Category Size by Transaction Value (PEN Billion), 2009-2018

Table 17: Peruvian Credit Cards Category Size by Transaction Value (US$ Billion), 2009-2018

Table 18: Peruvian Credit Cards Category Size by Transaction Volume (Million), 2009-2018

Table 19: Peruvian Personal Credit Cards Segment Size by Volume of Cards (Million), 2009-2018

Table 20: Peruvian Personal Credit Cards Segment Size by Transaction Value (PEN Billion), 2009-2018

Table 21: Peruvian Personal Credit Cards Segment Size by Transaction Value (US$ Billion), 2009-2018

Table 22: Peruvian Personal Credit Cards Segment Size by Transaction Volume (Million), 2009-2018

Table 23: Peruvian Commercial Credit Cards Segment Size by Volume of Cards (Thousand), 2009-2018

Table 24: Peruvian Commercial Credit Cards Segment Size by Transaction Value (PEN Million), 2009-2018

Table 25: Peruvian Commercial Credit Cards Segment Size by Transaction Value (US$ Million), 2009-2018

Table 26: Peruvian Commercial Credit Cards Segment Size by Transaction Volume (Million), 2009-2018

Table 27: Peruvian Debit Cards Category Size by Volume of Cards (Million), 2009-2018

Table 28: Peruvian Debit Cards Category Size by Transaction Value (PEN Billion), 2009-2018

Table 29: Peruvian Debit Cards Category Size by Transaction Value (US$ Billion), 2009-2018

Table 30: Peruvian Debit Cards Category Size by Transaction Volume (Million), 2009-2018

Table 31: Peruvian Prepaid Cards Category Size by Volume of Cards (Thousand), 2009-2018

Table 32: Peruvian Prepaid Cards Category Size by Transaction Value (PEN Million), 2009-2018

Table 33: Peruvian Prepaid Cards Category Size by Transaction Value (US$ Million), 2009-2018

Table 34: Peruvian Open-Loop Prepaid Cards Segment Size by Volume of Cards (Thousand), 2009-2018

Table 35: Peruvian Open-Loop Prepaid Cards Segment Size by Transaction Value (PEN Million), 2009-2018

Table 36: Peruvian Open-Loop Prepaid Cards Segment Size by Transaction Value (US$ Million), 2009-2018

Table 37: Peruvian Closed-Loop Prepaid Cards Segment Size by Volume of Cards (Thousand), 2009-2018

Table 38: Peruvian Closed-Loop Prepaid Cards Segment Size by Transaction Value (PEN Million), 2009-2018

Table 39: Peruvian Closed-Loop Prepaid Cards Segment Size by Transaction Value (US$ Million), 2009-2018

Table 40: BCP – Key Financial Indicators (PEN Million), Year Ending December, 2011-2012

Table 41: BCP – Card Portfolio and Key Features

Table 42: Banco Financiero – Key Financial Indicators (US$ Thousand), Year Ending December, 2011-2012

Table 43: Banco Financiero – Card Portfolio and Key Features

Table 44: Interbank – Key Financial Indicators (PEN Million), Year Ending December, 2011-2012

Table 45: Interbank – Card Portfolio and Key Features

Table 46: BBVA Continental – Key Financial Indicators (PEN Million), Year Ending December, 2012-2013

Table 47: BBVA Continental – Card Portfolio and Key Features

Table 48: Banco Falabella – Card Portfolio and Key Features

Table 49: Key Definitions

List of Figures

Figure 1: Benchmarking the Peruvian Card Payment Channel Against Other Latin American Markets

Figure 2: Peruvian Growth of Various Card Categories (%), 2009–2018

Figure 3: Peruvian Internet Penetration, 2009–2018

Figure 4: Peruvian Value of M-Payments (PEN Million), 2009–2018

Figure 5: Peruvian ATM Penetration, 2009–2018

Figure 6: Peruvian POS Penetration, 2009–2018

Figure 7: Peruvian Value of Retail Sales (PEN Billion), 2009–2018

Figure 8: Peruvian E-Commerce Value (PEN Million), 2009–2013

Figure 9: Peruvian Real GDP Growth (%), 2009–2018

Figure 10: Peruvian Nominal GDP Per Capita (US$), 2009–2018

Figure 11: Peruvian Inflation (Consumer Price Inflation) Rate (%), 2009–2018

Figure 12: Peruvian Shares of Different Payment Channels (%), 2009 and 2013

Figure 13: Peruvian Card Fraud (%), 2009 and 2013

Figure 14: Peruvian Card-Not-Present Fraud Value (PEN Million), 2009–2013

Figure 15: Peruvian Counterfeit Card Fraud Value (PEN Thousand), 2009–2013

Figure 16: Peruvian Lost or Stolen Card Fraud Value (PEN Thousand), 2009–2013

Figure 17: Peruvian Card ID Theft Value (PEN Thousand), 2009–2013

Figure 18: Peruvian Cards and Payments Industry Segmentation by Card Type

Figure 19: Peruvian Volume of Outbound Tourist Trips (Thousand), 2009–2018

Figure 20: Peruvian Outbound Tourist Spending (PEN Million), 2009–2018

Figure 21: Peruvian Consumer Card Spending by Product Category (%), 2012

Figure 22: Peruvian Consumer Card Spending by Retail Channel (%), 2012

Figure 23: Peruvian Card Payments Channel by Card Category (%), 2009–2018

Figure 24: Peruvian Card Payments Channel Size by Volume of Cards (Million), 2009–2018

Figure 25: Peruvian Card Payments Channel Size by Transaction Value (PEN Billion), 2009–2018

Figure 26: Peruvian Credit Cards Category Volume and Penetration, 2009–2018

Figure 27: Peruvian Credit Cards Category Size by Volume of Cards (Million), 2009–2018

Figure 28: Peruvian Credit Cards Category Size by Transaction Value (PEN Billion), 2009–2018

Figure 29: Peruvian Credit Cards Category Size by Transaction Volume (Million), 2009–2018

Figure 30: Peruvian Credit Cards Transaction Value Share Analysis by Channel (PEN Billion), 2009–2018

Figure 31: Peruvian Credit Cards Transaction Volume Share Analysis by Channel (Million), 2009–2018

Figure 32: Peruvian Personal Credit Cards Segment Size by Volume of Cards (Million), 2009–2018

Figure 33: Peruvian Personal Credit Cards Segment Size by Transaction Value (PEN Billion), 2009–2018

Figure 34: Peruvian Personal Credit Cards Segment Size by Transaction Volume (Million), 2009–2018

Figure 35: Peruvian Commercial Credit Cards Segment Size by Volume of Cards (Thousand), 2009–2018

Figure 36: Peruvian Commercial Credit Cards Segment Size by Transaction Value (PEN Million), 2009–2018

Figure 37: Peruvian Commercial Credit Cards Segment Size by Transaction Volume (Million), 2009–2018

Figure 38: Peruvian Credit Cards Category Share by Scheme (%), 2012

Figure 39: Peruvian Credit Cards Category Share by Issuer (%), 2012

Figure 40: Peruvian Debit Cards Category Volume and Penetration, 2009–2018

Figure 41: Peruvian Debit Cards Category Size by Volume of Cards (Million), 2009–2018

Figure 42: Peruvian Debit Cards Category Size by Transaction Value (PEN Billion), 2009–2018

Figure 43: Peruvian Debit Cards Category Size by Transaction Volume (Million), 2009–2018

Figure 44: Peruvian Debit Cards Transaction Value Share Analysis by Channel (PEN Billion), 2009–2018

Figure 45: Peruvian Debit Cards Transaction Volume Share Analysis by Channel (Million), 2009–2018

Figure 46: Peruvian Debit Cards Category Share by Scheme (%), 2012

Figure 47: Peruvian Debit Cards Category Share by Issuer (%), 2012

Figure 48: Peruvian Prepaid Cards Category Volume and Penetration, 2009–2018

Figure 49: Peruvian Prepaid Cards Category Size by Volume of Cards (Million), 2009–2018

Figure 50: Peruvian Prepaid Cards Category Size by Transaction Value (PEN Million), 2009–2018

Figure 51: Peruvian Open-Loop Prepaid Cards Segment Size by Volume of Cards (Thousand), 2009–2018

Figure 52: Peruvian Open-Loop Prepaid Cards Segment Size by Transaction Value (PEN Million), 2009–2018

Figure 53: Peruvian Closed-Loop Prepaid Cards Segment Size by Volume of Cards (Thousand), 2009–2018

Figure 54: Peruvian Closed-Loop Prepaid Cards Segment Size by Transaction Value (PEN Million), 2009–2018

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