Emerging Opportunities in Chile’s Cards and Payments Industry: Market Size, Trends and Drivers

Jan. 29, 2013 - PRLog -- The report provides market analysis, information and insights into Chile’s cards and payments industry

Chile’s cards and payments industry as a whole grew at a CAGR of 15.22% during the review period (2008–2012). Cuenta Rut accounts are expected to contribute to positive growth in the debit card category. Cuenta Rut, a scheme that provides bank accounts to all Chileans above the age of 15, issued by BancoEstado, is offered to all Chileans above the age of 15, and in 2011 there were 4.2 million Cuenta Rut account holders at BancoEstado, 24.42% of the total Chilean population. The number of Cuenta Rut account holders increased at a CAGR of 35.77% between 2007 and 2011.

Cuenta Rut account growth witnessed significant growth as the account is provided to all the Chilean population with minimum documentation. The account can be opened in person, over the telephone or internet, or through banking agents and this has resulted in increased penetration of the scheme. Account holders are not issued checks, but are given debit cards, which is expected to increase the volume and value growth of the debit card category over the forecast period. Bank-issued credit cards constitute only a nominal share of the total credit cards issued in the economy.

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The largest non-bank credit card issuer was Total Promotora CMR Falabella SA which occupied 40% of the credit card category. The second-largest issuer was Total Car SA, with 18.74%, followed by Total Cencosud Administradora de Tarjetas SA with 18.55%. The prepaid card category was also dominated by closed-loop prepaid cards issued by non-bank card issuers. The branchless banking model adopted by Chilean banks is expected to increase the volume of bank-issued cards in the forecast period. For example, BancoEstado offers banking services through Cajas Vecinas, nearly 65% of the operations of which take place after normal banking hours

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 2012 and forecast figures for 2017

It details the different macroeconomic, infrastructural, consumer 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 bankers and other institutions

It profiles the major banks in Chile’s cards and payments industry

Reasons To Buy

Make strategic business decisions using 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 into the marketing strategies used for selling various categories of cards in Chile

Gain insights into key regulations governing Chile’s cards and payments industry

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