Synopsis
The report
provides top-level market analysis, information and insights on Peru's cards
and payments industry, including:
·
Current and forecast values for each category of Peru's cards
and payments industry, including debit cards, credit cards and prepaid cards
·
Comprehensive analysis of the industry’s market
attractiveness and future growth areas
·
Analysis of various market drivers and regulations
governing Peru's cards and payments industry
·
Detailed analysis of the marketing strategies adopted for
selling debit, credit and prepaid cards used by banks and other institutions in
the market
·
Comprehensive analysis of consumer attitudes and buying
preferences for cards
·
The competitive landscape of Peru's cards and payments
industry
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Summary
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 from PEN84.1 billion
(US$27.9 billion) in 2009 to PEN233.2 billion (US$86.3 billion) in 2013, at a
review-period CAGR of 29.03%. This figure is forecast to increase further, from
PEN282.5 billion (US$101.6 billion) in 2014 to PEN552.3 billion (US$202.1
billion) in 2018, 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.
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Scope
·
This 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.
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