The Cards and Payments Industry in Chile: Emerging Trends and Opportunities to 2019 - Reportlinker Review
NEW YORK, Oct. 13, 2015 /PRNewswire/ -- Synopsis
Timetric'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 Timetric'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.
Summary
Timetric's 'The Cards and Payments Industry in Chile: Emerging Trends and Opportunities to 2019' report provides top-level market analysis, information and insights into Chile's cards and payments industry, including:
- Current and forecast values for each market in Chile's cards and payments industry, including debit and credit cards. It also includes detailed analysis of the prepaid card market.
- Detailed insights into payment instruments including check payments, credit transfers, direct debits and payment cards. It also includes an overview of the country's key alternative payment instruments.
- Analysis of various market drivers and regulations governing Chile's 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 of Chile's cards and payments industry.
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.
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.
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.
Read the full report: http://www.reportlinker.com/p03320492-summary/view-report.html
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