LONDON, Dec. 19, 2016 /PRNewswire/ -- Report Coverage
Historical market size for the period 2012-2014 and forecast for the period 2015-2020.
Number of cards in cirulation, and value and volume of transactions.
Number of terminal, and value and volume of transactions.
Industry trends, drivers, and opportunities.
Competitive landscape of card issuers for both, debit cards and credit cards.
Major schemes, debit and credit cards by customer segments.
The study is based on extensive secondary and primary research. The various sources studied during the secondary research include websites of payment/ banking/ industry associations, industry regulatory bodies, banks and card issuers. The primary research included in-depth interviews with industry experts and key opinion leaders.
Peru cards and payments market overview
Debit card dominated the Peru card payments in terms of number of transactions and value of transactions. Debit card penetration per 100 inhabitants increased from 38 in 2012 to 43 in 2014. The value of debit card transactions at ATMs remained significantly higher than the value of transactions at POS terminals in 2014. Debit card transactions at ATM terminals accounted for 95% of the total debit card transactions in 2014. The frequency of debit card usage grew at a CAGR of 7.4% during 2012-2014, and it is further expected to increase during 2015-2020. By scheme, the number of debit cards in circulation was dominated by Visa in 2014.
The total number of credit cards in Peru increased at a CAGR of 6.7% during the period 2012-2014. The transaction value of credit cards reported at POS terminals was greater than at ATMs. The frequency of credit card use increased at a CAGR of 3.0% during 2012-2014. The frequency of transaction is expected to reach to 15.3 times by 2020.
High internet and mobile penetration in Peru is expected to increase online sales which in turn, is expected to increase growth in the card and payments market. Internet penetration in the Peru grew from 36% in 2012 to 40.4% in 2014. Mobile penetration also registered a growth during the period 2012–2014, rising from 53.4% to 59%.
In January 2015, Movistar in collaboration with MasterCard launched "Tu Dinero Movil" ("Your Mobile Money"), electronic money service in Peru. The service is available in 20 of the country's stores to Movistar's 16 million mobile customers and will soon be available countrywide. Customers will be able to access an electronic money account that will be created to link their mobile number to their "Your Mobile Money" card. Moreover, customers will be able to make financial transactions, such as sending and receiving money from a mobile phone, making card purchases at MasterCard-affiliated establishments and replenishing the balances of their own or third-party mobile phones.
Key players in the Peru cards and payments market:
Banco de Crédito del Perú
Banco Financiero del Perú S.A
Banco Falabella Peru
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