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The Cards and Payments Industry in Peru: Emerging Trends and Opportunities to 2020

Monday, November 21, 2016 23:37
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Publisher’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 check payments, payment cards, direct debits and credit transfers during the review period (2011-2015).
 

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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 (2016-2020). It also offers information on the country’s competitive landscape, including the market shares of issuers and schemes.

 

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The report brings together Publisher’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.
 

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Report Summary

Publisher’s ‘The Cards and Payments Industry in Peru: Emerging Trends and Opportunities to 2020′ 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 debits, checks and payment cards. 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.
- Comprehensive analysis of consumer attitudes and buying preferences for cards.
- The competitive landscape in the Peruvian cards and payments industry.

Report Scope

- This report provides a comprehensive analysis of the Peruvian cards and payments industry.
- It provides current values for the Peruvian cards and payments industry for 2015, and forecast figures to 2020.
- It details the different demographic, economic, infrastructural and business drivers affecting the Peruvian 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

- The government of Peru developed the National Financial Inclusion Strategy (NFIS) in July 2015. It aims to provide access to financial accounts for at least 50% of the adult population by 2018, and 75% of the adult population by 2021. The strategy promotes access to savings, insurance and financing, consumer protection, financial education programs and the use of electronic payment instruments. A rise in bank penetration is expected to drive demand for products such as bank accounts and debit cards.
- In line with government’s financial inclusion program, the national mobile payments system Modelo Peru launched Bim mobile money, a fully interoperable payments platform, in February 2016. Through this, Modelo Peru aims to provide much of the unbanked population with access to digital financial services. It enables Peruvians with a mobile phone to open a bank account, transfer funds and make utility payments, and can be accessed with any basic mobile phone. Modelo Peru plans to have more than 2 million active Bim mobile money users by 2020. 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. Movistar, a mobile operator in Peru, in collaboration with MasterCard, introduced the country’s first electronic mobile money service, 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.

Reason 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.

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