ResearchMoz.us include new market research report " Colombias Cards and Payments Industry: Market Size, Shares, Growth, Analysis, Trends And Forecast" to its huge collection of research reports.
In 2013, Colombia surpassed Argentina to become the third-largest economy in Latin America and was the fourth-highest recipient of foreign direct investment (FDI), with US$17.0 billion in the same year. Of the total population of 47.2 million, however, the unbanked population accounted for nearly 35% of the adult population in 2013, according to the Colombian Banking Association. The low banking penetration levels present banks and card issuers operating with growth potential. Banks have stepped in to take advantage of this large untapped market, having introduced a number of cards targeting the unbanked population.
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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.
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Reasons to buy:-
- Make strategic business decisions using top-level historic and forecast market data related to Colombia's cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in Colombia's cards and payments industry.
- Assess the competitive dynamics in Colombia's cards and payments industry.
- Gain insights in to the marketing strategies used for selling various card types in Colombia.
- Gain insights into key regulations governing Colombia's cards and payments industry.
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