Colombia's Cards and Payments Industry - New Study Released
Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape
[USPRwire, Wed Jan 21 2015] The report provides top-level market analysis, information and insights into Colombia's cards and payments industry, including:
* Current and forecast values for each category of Colombia'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 Colombia'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 Colombia's cards and payments industry
* In terms of the number of cards in circulation, Colombian payment cards (including debit and credit cards) registered a positive growth during the review period, recording a compound annual growth rate (CAGR) of 8.05% and increasing from 22.6 million in 2009 to 30.8 million in 2013. Growth in the industry is expected to be driven by growth in the retail sector, an increasing demand for debit and credit cards, a better regulatory framework, an increasing market for online and mobile commerce and a positive economic outlook.
* In 2013, the average transaction value (ATV) in Colombia was US$121, which was the second-highest in the Latin-American region. Peru recorded the highest ATV with US$144.3, followed by Chile (US$82.4), Venezuela (US$71.4), Brazil (US$69.6) and Argentina (US$50).
* Similarly, in terms of card penetration, Colombia recorded 0.7 cards per inhabitant in 2013, while Brazil, Argentina, Chile, Venezuela and Peru recorded 2.6, 1.4, 1.3, 1.1 and 0.6 respectively. In terms of the frequency of use, Colombia recorded 28.7 transactions per card in the same year, while Venezuela, Argentina, Chile, Peru and Brazil recorded respective numbers of 61.2, 42.3, 37.6, 30.2 and 23.7.
* Colombian payment cards grew both in terms of transaction value and volume during the review period. In terms of transaction value, payment cards posted a CAGR of 10.10%, increasing from COP136.9 trillion (US$63.4 billion) in 2009 to COP201.1 trillion (US$105.9 billion) in 2013. It is anticipated that this value will increase at a CAGR of 3.91% over the forecast period, to reach COP246.3 trillion (US$137 billion) in 2018. In terms of transaction volume, payment cards increased from 636.2 million in 2009 to 885.2 million in 2013, at a review-period CAGR of 8.61%. It is expected to reach 1.1 billion transactions in 2018, growing at a CAGR of 4.10% over the forecast period.
Report Scope
This report provides a comprehensive analysis of Colombia's cards and payments industry.
About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget.
For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
You may also be interested in these related reports:
