Thursday 23 January 2014

Chile's Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape, New Report Launched

Chile's Cards and Payments Industry

In terms of the number of cards in circulation, Chile’s card payments channel grew at a compound annual growth rate (CAGR) of 15.80% during the review period (2008–2012). The channel is expected to grow at a CAGR of 7.16% over the forecast period (2013–2017). The prepaid card category, which is expected to occupy 33.2% of the overall card payments channel by 2017 in terms of volume of cards, is expected to have the highest growth potential with a CAGR of 10.83%. The debit card category is also expected to grow positively at a forecast-period CAGR of 5.67%.

CuentaRut accounts are expected to foster positive growth in the debit card category over the forecast period. CuentaRut, issued by BancoEstado, is a scheme that provides bank accounts to all Chileans. In 2012, BancoEstado recorded 5.3 million CuentaRut account holders, equal to 30.5% of the Chilean population. The growth of closed-loop prepaid cards is expected to be a major driver of growth in the prepaid card category. Closed-loop prepaid cards include gift cards and prepaid store cards issued by retail outlets. Closed-loop prepaid store cards are used by customers to make regular retail purchases, and are therefore expected to contribute to the growth of the transaction value of the overall prepaid category. The value of closed-loop cards grew from CLP1.1 trillion (US$2.1 billion) in 2008 to CLP3.0 trillion (US$6.4 billion) in 2012, at a review-period CAGR of 26.99%.

Large-scale retail outlets and department stores are using social commerce platforms to expand their cards businesses. Outlets such as Jumbo Cencosud issue gift cards that can be used for online purchases through Facebook accounts.

The report provides top-level market analysis, information and insights on Chile's cards and payments industry, including:
  • Current and forecast values for each category of Chile'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 Chile's cards and payments industry.
  • Detailed analysis of the marketing strategies adopted for selling debit, credit and prepaid cards used by various bankers and other institutions in the market.
  • 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 the current value for Chile's cards and payments industry for 2012, and forecast figures for 2017.
  • 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 the marketing strategies used by various banks and other institutions.
  • It profiles the major banks in Chile's cards and payments industry.


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 the key market trends and growth opportunities within Chile's cards and payments industry.
  • Assess the competitive dynamics in Chile's cards and payments industry.
  • Gain insights in to the marketing strategies used for selling various types of cards in Chile.
  • Gain insights into key regulations governing Chile's cards and payments industry.


Key Highlights
  • The Chilean card payments channel grew at a CAGR of 15.80% during the review period. The total number of cards increased from 16.5 million in 2008 to 29.7 million in 2012. The channel is expected to grow at a CAGR of 7.16% over the forecast period.
  • Prepaid cards remained the fastest-growing card category during the review period. The category constituted 28.0% of the overall card payments channel in 2012, and grew at a review-period CAGR of 20.11%. The share of the prepaid card category is expected to increase to 33.2% by 2017.
  • The debit card category, which constituted 50.5% of the overall card payments channel in 2012, grew at a review-period CAGR of 16.39% during the review period. By 2017, the debit card category’s share in the overall card payments channel is expected to fall to 47.2%, due to the emergence of prepaid cards, particularly for retail purchases in department stores and supermarkets. The debit card category is expected to grow at a CAGR of 5.67% over the forecast period.
  • The credit card category constituted 21.5% of the overall card payments channel in 2012, and grew at a review-period CAGR of 10.06%. The category is expected to grow at a CAGR of 5.24% over the forecast period, but its share is expected to shrink to 19.6% by 2017.


Spanning over 86 pages, 42 tables and 55 figures Chile's Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape report covering the Analysis of Market Environment and Key Trends and Drivers, Cards and Payments Industry Share Analysis, Regulatory Framework and Card Fraud Statistics, Emerging Consumer Attitudes and Trends, Analysis of Card Payments and Growth Prospects, Analysis of Credit Card Payments and Growth Prospects, Analysis of Debit Card Payments and Growth Prospects, Analysis of Prepaid Card Payments and Growth Prospects, Merchant Acquiring, Company Profiles of Card Issuers, Appendix. The report covering 7 companies - Banco de Chile, Banco Santander Chile, BBVA Chile, BancoEstado, Scotiabank Chile, MasterCard, Visa.


Find All Country Overview (Banking and Finance) Reports at: http://www.marketresearchreports.com/country-overview-banking-finance


For regular industry updates subscribe to our newsletter at: http://www.marketresearchreports.com/subscribe-to-newsletter

No comments:

Post a Comment