The Cards and Payments Industry in Peru: Emerging trends and opportunities to 2020

GlobalData’s "The Cards and Payments Industry in Peru: Emerging trends and opportunities to 2020" report provides detailed analysis of market trends in the Peruvian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including credit transfers, payment cards, direct debit and cheques during the review period (2012-16).

The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, transaction values and volumes during the review period and over the forecast period (2016-20). It also offers information on the country's competitive landscape, including the 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 details of regulatory policy and recent changes in the regulatory structure.

The report provides top-level market analysis, information and insights into the Peruvian cards and payments industry, including –

– Current and forecast values for each market in the Peruvian cards and payments industry, including debit and credit cards.

– Detailed insights into payment instruments including credit transfers, direct debit, payment cards and cheques. It also, includes an overview of the country's key alternative payment instruments.

– E-commerce market analysis.

– Analysis of various market drivers and regulations governing the Peruvian cards and payments industry.

– Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.

Scope

– The Peruvian government developed the National Financial Inclusion Strategy in July 2015. It aims to provide access to financial accounts for at least 50% of the adult population by 2018, and 75% by 2021. The strategy promotes access to savings, insurance and financing, consumer protection, financial education programs, and electronic payments. To increase financial literacy in remote areas, in February 2017 Banco Agropecuario and the National Tambos Program announced the implementation of a financial literacy program to empower 2,250 small agricultural producers from 58 isolated communities in the highlands and jungle areas. Similarly, in April 2017 the Peruvian Banker’s Association held its first Family Financial Fair to promote financial education in the country. Rising financial inclusion is expected to drive demand for products such as bank accounts and debit cards.

– In line with the government’s financial inclusion program, the national mobile payments system Modelo Peru launched Bim mobile money to provide the unbanked population with access to digital financial services. Modelo Peru is formed by the partnership of 40 Peruvian financial institutions, including private-sector and state-owned banks, credit unions, microfinance institutions, non-bank electronic money issuers, and telecommunication companies.

– With high mobile penetration, companies in Peru are increasingly using mobile technology with a focus on financial inclusion. In collaboration with Mastercard, mobile operator Movistar introduced the country’s first electronic mobile money service called Tu Dinero Movil (Your Mobile Money) in January 2015. The service is now available to Movistar’s more than 16 million customers, allowing them to conduct a number of transactions such as money transfers, purchases at Mastercard-affiliated establishments, and paying for mobile recharges. Similar to Bim, it can be accessed on smartphones as well as basic mobile phones.

Reasons to buy

– Make strategic business decisions, using top-level historic and forecast market data, related to the Peruvian cards and payments industry and each market within it.

– Understand the key market trends and growth opportunities in the Peruvian cards and payments industry.

– Assess the competitive dynamics in the Peruvian cards and payments industry.

– Gain insights into marketing strategies used for various card types in Peru.

– Gain insights into key regulations governing the Peruvian cards and payments industry.

Companies mentioned

Banco de Crédito del Peru

BBVA Continental

Interbank

Banco Falabella Peru

Banco Ripley

Scotiabank Peru

Banco Financiero

Banco Cencosud

Visa

Mastercard

American Express

Diners Club

Table of Contents

Table of Contents

1. EXECUTIVE SUMMARY 2

1.1. Market overview 2

1.2. Key facts 4

1.3. Top five industry events 5

2. PAYMENT INSTRUMENTS 11

2.1. Current payment environment 11

3. E-COMMERCE AND ALTERNATIVE PAYMENTS 13

3.1. E-commerce market analysis 13

3.2. Alternative payment solutions 14

3.2.1. Modelo Peru – Bim 14

3.2.2. Tu Dinero Movil 14

3.2.3. PayPal 14

3.2.4. PagoEfectivo 14

3.2.5. Visa Checkout 14

3.2.6. Paysafecard 15

3.2.7. SafetyPay 15

4. REGULATIONS IN THE CARDS AND PAYMENTS INDUSTRY 16

4.1. Regulatory framework 16

4.1.1. Consumerprotection 16

4.1.2. Retail agents 16

4.2. Anti-money laundering 17

4.3. Foreign direct investment regulations 17

4.4. ANALYSIS OF CARDS AND PAYMENTS INDUSTRY DRIVERS 18

5. PAYMENT CARDS 21

6. DEBIT CARDS 23

6.1. Debit card market analysis 23

6.2. Competition in the debit card market 25

6.3. Debit card comparison 26

7. PAY-LATER CARDS 27

8.1. Pay-later card market analysis 27

8.2. Competition in the pay-later card market 29

8.3. Pay-later card comparison 31

8. PREPAID CARDS 32

9. APPENDIX 34

10.1. Abbreviations and acronyms 34

10.2. Supplementary data 34

10.3. Definitions 42

10.4. Methodology 44

10.5. Bibliography 46

10.6. Further reading 46

List of Tables

List of Tables

Table 1: Peru: key facts, 2016 4

Table 2: Regional benchmarking of payment cards, 2016 4

Table 3: Peru: mode of entry of foreign banks 17

Table 4: Peru: debit card comparison and key features, 2017 26

Table 5: Peru: gold credit card comparison and key features, 2017 31

Table 6: Peru: premium credit card comparison and key features, 2017 31

Table 7: Peru: payment instrument transaction values (PENbn), 2012-16e 34

Table 8: Peru: payment instrument transaction values ($bn), 2012-16e 34

Table 9: Peru: payment instrument transaction volumes (millions), 2012-16e 35

Table 10: Peru: payment cards in circulation by type (millions), 2012-20f 35

Table 11: Peru: volume of payment card transactions (millions), 2012-20f 35

Table 12: Peru: value of payment card transactions (PENbn), 2012-20f 35

Table 13: Peru: value of payment card transactions ($bn), 2012-20f 35

Table 14: Peru: debit cards in circulation (millions), 2012-20f 36

Table 15: Peru: debit card transaction volumes, 2012-20f 36

Table 16: Peru: debit card transaction values (PEN), 2012-20f 36

Table 17: Peru: debit card transaction values ($), 2012-20f 36

Table 18: Peru: debit cards in circulation by scheme (millions), 2012-16 37

Table 19: Peru: debit card transaction values by scheme (PENbn), 2012-16 37

Table 20: Peru: debit card transaction values by scheme ($bn), 2012-16 37

Table 21: Peru: debit card transaction values by issuer (PENbn), 2012-16 37

Table 22: Peru: debit card transaction values by issuer ($bn), 2012-16 38

Table 23: Peru: pay-later cards in circulation (millions), 2012-20f 38

Table 24: Peru: pay-later card transaction volumes, 2012-20f 38

Table 25: Peru: pay-later card transaction values (PEN), 2012-20f 39

Table 26: Peru: pay-later card transaction values ($), 2012-20f 39

Table 27: Peru: pay-later cards in circulation by scheme (000s), 2012-16 39

Table 28: Peru: pay-later card transaction values by scheme (PENbn), 2012-16 40

Table 29: Peru: pay-later card transaction values by scheme ($bn), 2012-16 40

Table 30: Peru: pay-later card transaction values by issuer (PENbn), 2012-16 40

Table 31: Peru: pay-later card transaction values by issuer ($bn), 2012-16 41

Table 32: Peru: prepaid cards in circulation (millions), 2012-20f 41

Table 33: Peru: prepaid card transaction values (PENbn), 2012-20f 41

Table 34: Peru: prepaid card transaction values ($m), 2012-20f 41

Table 35: Key definitions 42

List of Figures

List of Figures

Figure 1: Peru: payment instrument shares by transaction value (%), 2012 vs 2016 11

Figure 2: Peru: payment instrument shares by transaction volume (%), 2012 vs 2016 12

Figure 3: Peru: e-commerce value ($m), 2012-20f 13

Figure 4: Peru: population and economic indicators 18

Figure 5: Peru: number of ATMs, POS terminals, and real household consumption 19

Figure 6: Peru: payment cards transaction value and cards in circulation, 2012-20f 21

Figure 7: Peru: debit card penetration (%) and turnover per card ($) 23

Figure 8: Peru: debit card scheme and issuer transaction value shares (%), 2016 25

Figure 9: Peru: pay-later card penetration (%) and turnover per card ($) 27

Figure 10: Peru: pay-later card scheme and issuer transaction value shares (%), 2016 29

Figure 11: Peru: prepaid cards in circulation (millions) and transaction value ($m), 2012-20f 32

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