The Cards and Payments Industry in Chile: Emerging Trends and Opportunities to 2019

GlobalData’s 'The Cards and Payments Industry in Chile: Emerging Trends and Opportunities to 2019' report provides detailed analysis of market trends in Chile's cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including check payments, credit transfers, direct debits and payment cards during the review period (2010–2014).

The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, and transaction values and volumes during the review period and over the forecast period (2015–2019). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together GlobalData’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers regulatory policy, recent changes in the regulatory structure, and details of private-label card issuers operating in the country.

Scope

• This report provides a comprehensive analysis of Chile's cards and payments industry.

• It provides current values for Chile's cards and payments industry for 2014, and forecast figures to 2019.

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

• It outlines the current regulatory framework in the industry.

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

Key Highlights

• Chile’s cards and payments industry underwent a transformation during the review period, helped by the entrance of multinational banks, government initiatives such as the financial inclusion program, and infrastructure modernization. As check use has declined, debit and credit cards have benefited. Government efforts to provide basic banking and financial services to the unbanked helped a large proportion of the population to become banked, which also benefitted the industry. According to the World Bank’s Global Findex, its global financial inclusion database, the percentage of individuals aged over 15 with an account grew from 42.2% in 2011 to 63.3% in 2014.

• There were 7.4 million CuentaRUT account holders at BancoEstado as of 2014, representing 41.6% of Chile’s total population. However, the CuentaRUT is anticipated to face competition from the Chile Account, a new checking account introduced by Banco de Chile in November 2014, aimed at the low-income and unbanked populations.

• The high mobile penetration in Chile increased the scope of mobile payments (m-payments) and encouraged new entrants into the market. For instance, m-payment solution provider Omlis entered the Chilean market in July 2014. Similarly, in 2013, Chilean telecoms operator Movistar introduced Pago Movil, enabling consumers to pay bills by mobile phone. Another mobile service provider, Lonix, introduced the Cuenta Móvil service in partnership with Banco de Chile and Entel PCS in 2012, extending mobile wallet services to Banco de Chile customers. These initiatives are anticipated to further drive m-payments in the country.

Reasons to buy

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

• Understand key market trends and growth opportunities in Chile's cards and payments industry.

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

• Gain insights into marketing strategies used for various card types in Chile.

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

Companies mentioned

Banco del Estado de Chile

Banco de Chile

Banco Santander-Chile

Banco de Crédito e Inversiones

CuentaRUT

Redcompra

American Express

Diners Club

Visa

MasterCard

Magna

Table of Contents

1 Definitions and Methodology

1.1 Definitions

1.2 Methodology

2 Key Facts and Events

3 Executive Summary

4 Payment Instruments

4.1 Current Payments Environment

4.2 Alternative Payment Instruments

4.2.1 PayPal

4.2.2 DaoPay

4.2.3 Servipag

4.2.4 DineroMail

5 Regulations in the Cards and Payments Industry

5.1 Regulatory Framework

5.2 Anti-Money Laundering (AML)

5.3 Foreign Direct Investment (FDI) Regulations

6 Analysis of Cards and Payments Industry Drivers

6.1 Demographic Drivers

6.2 Economic Drivers

6.3 Infrastructure Drivers

6.4 Business Drivers

7 Market Segmentation

7.1 Market Segmentation and Targeting

7.1.1 Consumer cards

7.1.2 Commercial cards

8 Payment Cards

8.1 Payment Cards Market Analysis

8.1.1 Volume and value of payment card transactions by type

9 Debit Cards

9.1 Debit Card Market Analysis

9.1.1 Debit card transaction volumes and values by channel

9.1.2 Debit card scheme and issuer shares in terms of transaction value

9.1.3 Debit cards comparison

10 Credit Cards

10.1 Credit Card Market Analysis

10.1.1 Credit card transaction volumes and values by channel

10.1.2 Credit card scheme and issuer shares in terms of transaction value

10.1.3 Credit cards comparison

11 Commercial Cards

11.1 Commercial Card Market Analysis

11.1.1 Commercial cards comparison

12 Prepaid Cards

12.1 Prepaid Card Market Analysis

13 Private Label Cards

13.1 Private Label Card Market Analysis

14 Appendix

14.1 Tables

14.2 Contact GlobalData

14.3 About GlobalData

14.4 GlobalData’s Services

14.5 Disclaimer

List of Tables

Table 1: Key Definitions

Table 2: Annual Average Exchange Rate

Table 3: Chile – Key Facts, 2014

Table 4: Regional Benchmarking of Chile’s Payment Cards, 2014

Table 5: Chile – Mode of Entry of Foreign Banks

Table 6: Cards for High-Income Consumers, 2015

Table 7: Cards for Shoppers, 2015

Table 8: Cards for Students and Young Population, 2015

Table 9: Cards for Travelers, 2015

Table 10: Commercial Cards Comparison and Key Features, 2015

Table 11: Chile – Debit Cards Comparison and Key Features, 2015

Table 12: Chile – Credit Cards Comparison and Key Features, 2015

Table 13: Chile – Commercial Cards Comparison and Key Features, 2015

Table 14: Chile – Retailer Cards, May 2015

Table 15: Chile – Payment Instrument Transaction Values (CLP Trillion), 2010–2014

Table 16: Chile – Payment Instrument Transaction Values (US$ Billion), 2010–2014

Table 17: Chile – Payment Instrument Transaction Volumes (Million), 2010–2014

Table 18: Chile – Number of Payment Cards in Circulation by Type (Million), 2010–2019

Table 19: Chile – Volume of Payment Card Transactions by Type (Million), 2010–2019

Table 20: Chile – Value of Payment Card Transactions by Type (CLP Trillion), 2010–2019

Table 21: Chile – Value of Payment Card Transactions by Type (US$ Billion), 2010–2019

Table 22: Chile – Personal and Commercial Card Transaction Volumes (Million), 2010–2019

Table 23: Chile – Personal and Commercial Card Transaction Values (CLP Billion), 2010–2019

Table 24: Chile – Personal and Commercial Card Transaction Values (US$ Million), 2010–2019

Table 25: Chile – Number of Debit Cards in Circulation (Million), 2010–2019

Table 26: Chile – Debit Card Transaction Volumes and Frequency by Channel, 2010–2019

Table 27: Chile – Debit Card Total and Average Transaction Values by Channel, 2010–2019

Table 28: Chile – Debit Card Total and Average Transaction Values by Channel, 2010–2019

Table 29: Chile – Number of Debit Cards in Circulation by Scheme (Million), 2010–2014

Table 30: Chile – Debit Card Transaction Values by Scheme (CLP Trillion), 2010–2014

Table 31: Chile – Debit Card Transaction Values by Scheme (US$ Billion), 2010–2014

Table 32: Chile – Debit Card Transaction Values by Issuer (CLP Billion), 2010–2014

Table 33: Chile – Debit Card Transaction Values by Issuer (US$ Billion), 2010–2014

Table 34: Chile – Number of Credit Cards in Circulation (Million), 2010–2019

Table 35: Chile – Credit Card Transaction Volumes and Frequency by Channel, 2010–2019

Table 36: Chile – Credit Card Total and Average Transaction Values by Channel, 2010–2019

Table 37: Chile – Credit Card Total and Average Transaction Values by Channel, 2010–2019

Table 38: Chile – Number of Credit Cards in Circulation by Scheme (Thousand), 2010–2014

Table 39: Chile – Credit Card Transaction Values by Scheme (CLP Billion), 2010–2014

Table 40: Chile – Credit Card Transaction Values by Scheme (US$ Million), 2010–2014

Table 41: Chile – Credit Card Transaction Values by Issuer (CLP Billion), 2010–2014

Table 42: Chile – Credit Card Transaction Values by Issuer (US$ Million), 2010–2014

Table 43: Chile – Number of Commercial Cards in Circulation (Thousand), 2010–2019

Table 44: Chile – Commercial Card Transaction Values (CLP Billion), 2010–2019

Table 45: Chile – Commercial Card Transaction Values (US$ Million), 2010–2019

Table 46: Chile – Number of Prepaid Cards in Circulation (Thousand), 2010–2019

Table 47: Chile – Prepaid Card Transaction Values (CLP Billion), 2010–2019

Table 48: Chile – Prepaid Card Transaction Values (US$ Million), 2010–2019

List of Figures

Figure 1: Chile – Payment Instrument Shares by Transaction Value and Volume (%), 2014

Figure 2: Chile – Total Population and Structure, 2014

Figure 3: Chile – Economic Indicators, 2010–2019

Figure 4: Chile – Number of ATMs, POS Terminals and Commercial Bank Branches, 2010–2019

Figure 5: Chile – Retail Trade and E-Commerce Value, 2010–2014

Figure 6: Chile – Cards and Payments Industry Segmentation by Card Type, 2015

Figure 7: Chile – Growth in Payment Card Transaction Values and Number of Cards in Circulation by Type, 2010–2019

Figure 8: Chile – Volume and Value of Payment Card Transactions by Type (%), 2010–2019

Figure 9: Chile – Growth in Debit Card Transaction Values and Number of Cards in Circulation, 2010–2019

Figure 10: Chile – Debit Card Transaction Volumes and Values by Channel, 2010–2019

Figure 11: Chile – Debit Card Scheme and Issuer Shares in Terms of Transaction Value (%), 2014

Figure 12: Chile – Growth in Credit Card Transaction Values and Number of Credit Cards in Circulation, 2010–2019

Figure 13: Chile – Credit Card Transaction Volumes and Values by Channel, 2010–2019

Figure 14: Chile – Credit Card Scheme and Issuer Shares in Terms of Transaction Value (%), 2014

Figure 15: Chile – Number of Commercial Cards in Circulation and Transaction Value, 2010–2019

Figure 16: Chile – Number of Prepaid Cards in Circulation and Transaction Value, 2010–2019

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