The Report “Chile’s Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape″ by Timetric is now available at RnRMarketResearch.com. Contact sales@rnrmarketresearch.com with “Chile’s Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape″ in subject line and your contact details to purchase this report or get your questions answered.
Synopsis
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.
Summary
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.
