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  5. > Chile%s Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape

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.

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.

Table Of Contents

Chile%s Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape
Table of Contents
1 Executive Summary
2 Analysis of Market Environment and Key Trends and Drivers
2.1 Payment Infrastructure and Emerging Technology
2.1.1 ATMs
2.1.2 POS terminals
2.1.3 Internet penetration
2.1.4 Network-related systems
2.2 Business Drivers
2.2.1 CuentaRut
2.2.2 Growth of e-commerce
2.2.3 Retail sector dynamics
2.3 Economic Drivers
2.3.1 GDP
2.3.2 Inflation
2.3.3 Low unemployment
2.3.4 GDP per capita
3 Cards and Payments Industry Share Analysis
3.1 Overview of the Cards and Payments Industry
3.1.1 Checks
3.1.2 Cards
4 Regulatory Framework and Card Fraud Statistics
4.1 Regulatory Framework
4.2 Card Fraud Statistics
4.2.1 Card-not-present
4.2.2 Counterfeit cards
4.2.3 Cards lost or stolen
4.2.4 Card ID theft
5 Emerging Consumer Attitudes and Trends
5.1 Market Segmentation and Targeting
5.1.1 Retail segment
5.1.2 Corporate segment
5.2 Travel and Tourism Spending
5.2.1 Outbound tourist volume
5.2.2 Outbound tourist spending
5.3 Retail Card Spending
5.3.1 Analysis by product categories
5.3.2 Analysis by retail channels
6 Analysis of Card Payments and Growth Prospects
6.1 Channel Share Analysis by Card Category
6.2 Size and Forecast of the Card Payments Channel
6.2.1 Analysis by card volume
6.2.2 Analysis by transaction value
7 Analysis of Credit Card Payments and Growth Prospects
7.1 Overall Category Size and Forecast
7.1.1 Analysis by volume of cards in circulation
7.1.2 Analysis by transaction value
7.1.3 Analysis by transaction volume
7.2 Transaction Share Analysis by Channel
7.2.1 Analysis by transaction value
7.2.2 Analysis by transaction volume
7.3 Personal Credit Cards Sub-Category Size and Forecast
7.3.1 Analysis by volume of cards in circulation
7.3.2 Analysis by transaction value
7.3.3 Analysis by transaction volume
7.4 Commercial Credit Cards Sub-Category Size and Forecast
7.4.1 Analysis by number of cards in circulation
7.4.2 Analysis by transaction value
7.4.3 Analysis by transaction volume
7.5 Competitive Landscape
7.5.1 Scheme share analysis
7.5.2 Issuer share analysis
8 Analysis of Debit Card Payments and Growth Prospects
8.1 Overall Category Size and Forecast
8.1.1 Analysis by number of cards in circulation
8.1.2 Analysis by transaction value
8.1.3 Analysis by transaction volume
8.2 Transaction Share Analysis by Channel
8.2.1 Analysis by transaction value
8.2.2 Analysis by transaction volume
8.3 Competitive Landscape
8.3.1 Scheme share analysis
8.3.2 Issuer share analysis
9 Analysis of Prepaid Card Payments and Growth Prospects
9.1 Overall Category Size and Forecast
9.1.1 Analysis by number of cards in circulation
9.1.2 Analysis by transaction value
9.2 Open-Loop Prepaid Cards Segment Size and Forecast
9.2.1 Analysis by number of cards in circulation
9.2.2 Analysis by transaction value
9.3 Closed-Loop Prepaid Cards Segment Size and Forecast
9.3.1 Analysis by volume of cards in circulation
9.3.2 Analysis by transaction value
10 Merchant Acquiring
10.1 Merchant Acquirers in Chile
11 Company Profiles of Card Issuers
11.1 Banco de Chile
11.1.1 Key financials
11.1.2 Card portfolio
11.1.3 Strategies
11.2 Banco Santander Chile
11.2.1 Key financials
11.2.2 Card portfolio
11.2.3 Strategies
11.3 BBVA Chile
11.3.1 Card portfolio
11.3.2 Strategies
11.4 BancoEstado
11.4.1 Key financials
11.4.2 Card portfolio
11.4.3 Strategies
11.5 Scotiabank Chile
11.5.1 Card portfolio
11.5.2 Strategies
12 Appendix
12.1 Methodology
12.2 Contact Timetric
12.3 About Timetric
12.4 Timetric's Services
12.5 Definitions
12.6 Disclaimer

List of Tables
Table 1: Chilean Payment Channels (CLP Trillion), 2008-2012
Table 2: Chilean Card Fraud (CLP Million), 2008-2012
Table 3: Chilean Consumer Spending through Cards by Product Category (CLP Billion), 2008-2012
Table 4: Chilean Consumer Spending Through Cards by Retail Channel (CLP Billion), 2008-2017
Table 5: Chilean Card Payments Channel by Card Category (Million), 2008-2017
Table 6: Chilean Card Payments Channel Size by Card Volume (Million), 2008-2017
Table 7: Chilean Card Payments Channel Size by Transaction Value (CLP Trillion), 2008-2017
Table 8: Chilean Card Payments Channel Size by Transaction Value (US$ Billion), 2008-2017
Table 9: Chilean Credit Cards Category Size by Volume of Cards (Million), 2008-2017
Table 10: Chilean Credit Cards Category Size by Transaction Value (CLP Trillion), 2008-2017
Table 11: Chilean Credit Cards Category Size by Transaction Value (US$ Billion), 2008-2017
Table 12: Chilean Credit Cards Category Size by Transaction Volume (Million), 2008-2017
Table 13: Chilean Personal Credit Cards Sub-Category Size by Volume of Cards (Million), 2008-2012
Table 14: Chilean Personal Credit Cards Sub-Category Size by Transaction Value (CLP Trillion), 2008-2017
Table 15: Chilean Personal Credit Cards Sub-Category Size by Transaction Value (US$ Billion), 2008-2017
Table 16: Chilean Personal Credit Cards Sub-Category Size by Transactions Volume (Million), 2008-2017
Table 17: Chilean Commercial Credit Cards Sub-Category Size by Volume of Cards (Thousand), 2008-2017
Table 18: Chilean Commercial Credit Cards Sub-Category Size by Transaction Value (CLP Billion), 2008-2017
Table 19: Chilean Commercial Credit Cards Sub-Category Size by Transaction Value (US$ Million), 2008-2017
Table 20: Chilean Commercial Credit Cards Sub-Category Size by Transaction Volume (Thousand), 2008-2017
Table 21: Chilean Debit Cards Category Size by Volume of Cards (Million), 2008-2017
Table 22: Chilean Debit Cards Category Size by Transaction Value (CLP Trillion), 2008-2017
Table 23: Chilean Debit Cards Category Size by Transaction Value (US$ Billion), 2008-2017
Table 24: Chilean Debit Cards Category Size by Transaction Volume (Million), 2008-2017
Table 25: Chilean Prepaid Cards Category Size by Volume of Cards (Million), 2008-2017
Table 26: Chilean Prepaid Cards Category Size by Transaction Value (CLP Trillion), 2008-2017
Table 27: Chilean Prepaid Cards Category Size by Transaction Value (US$ Billion), 2008-2017
Table 28: Chilean Open-Loop Prepaid Cards Segment Size by Volume of Cards (Thousand), 2008-2017
Table 29: Chilean Open-Loop Prepaid Cards Segment Size by Transaction Value (CLP Billion), 2008-2017
Table 30: Chilean Open-Loop Prepaid Cards Segment Size by Transaction Value (US$ Million), 2008-2017
Table 31: Chilean Closed-Loop Prepaid Cards Segment Size by Volume of Cards (Million), 2008-2017
Table 32: Chilean Closed-Loop Prepaid Cards Segment Size by Transaction Value (CLP Trillion), 2008-2017
Table 33: Chilean Closed-Loop Prepaid Cards Segment Size by Transaction Value (US$ Billion), 2008-2017
Table 34: Banco de Chile - Key Financial Indicators (CLP Billion), December 2011 and 2012
Table 35: Banco de Chile - Card Product Offerings and Key Features
Table 36: Banco Santander Chile - Key Financial Indicators (CLP Billion), December 2011 and 2012
Table 37: Banco Santander Chile - Card Product Offerings and Key Features
Table 38: BBVA Chile - Card Product Offerings and Key Features
Table 39: BancoEstado - Key Financial Indicators (CLP Billion), December 2011 and 2012
Table 40: BancoEstado - Card Product Offerings and Key Features
Table 41: Scotiabank Chile - Card Product Offerings and Key Features
Table 42: Key Definitions

List of Figures
Figure 1: Benchmarking the Chilean Card Payments Channel Against Other Key Regional Markets
Figure 2: Chilean Growth of Various Card Categories (%), 2008-2017
Figure 3: ATM Penetration in Chile, 2008-2017
Figure 4: Chilean POS Terminal Penetration, 2008-2017
Figure 5: Chilean Volume of Internet Users (Million), 2008-2012
Figure 6: Number of CuentaRut Account Holders, 2008-2012
Figure 7: Chilean Online Retail Sales Value (CLP Billion), 2008-2017
Figure 8: Chilean Retail Sector Sales Value (CLP Trillion), 2008-2017
Figure 9: Chilean GDP Growth Rate (%), 2008-2017
Figure 10: Inflation - Average Consumer Prices (% Change), 2008-2017
Figure 11: Chilean Unemployment Rate (%), 2008-2017
Figure 12: Chilean GDP Per Capita Income (US$ Thousand), 2008-2017
Figure 13: Chilean Payment Channels (CLP Trillion), 2008-2012
Figure 14: Chilean Card Fraud (CLP Million), 2008 and 2012
Figure 15: Chilean Value of Card-Not-Present Fraud (CLP Million), 2008-2012
Figure 16: Chilean Counterfeit Card Fraud Value (CLP Million), 2008-2012
Figure 17: Chilean Value of Card Fraud by Lost or Stolen Cards (CLP Million), 2008-2012
Figure 18: Chilean Card ID Theft Fraud Value (CLP Million), 2008-2012
Figure 19: Chilean Card Payments Channel Segmentation by Card Type
Figure 20: Chilean Volume of Outbound Departures (Million), 2008-2012
Figure 21: Chilean Outbound Tourist Spending (CLP Billion), 2008-2017
Figure 22: Chilean Retail Consumer Card Spending by Product Category (%), 2012
Figure 23: Chilean Retail Consumer Card Spending by Retail Channel (%), 2012
Figure 24: Chilean Card Payments Channel by Card Category (%), 2008-2017
Figure 25: Chilean Card Payments Channel Size by Card Volume (Million), 2008-2017
Figure 26: Chilean Card Payments Channel Size by Transaction Value (CLP Trillion), 2008-2017
Figure 27: Chilean Credit Cards Volume and Penetration, 2008-2017
Figure 28: Chilean Credit Cards Category Size by Volume of Cards (Million), 2008-2017
Figure 29: Chilean Credit Cards Category Size by Transaction Value (CLP Trillion), 2008-2017
Figure 30: Chilean Credit Cards Category Size by Transaction Volume (Million), 2008-2017
Figure 31: Chilean Credit Card Transaction Value by Channel (CLP Trillion), 2008-2017
Figure 32: Chilean Credit Card Transaction Volume by Channel (Million), 2008-2017
Figure 33: Chilean Personal Credit Cards Sub-Category Size by Volume of Cards (Million), 2008-2012
Figure 34: Chilean Personal Credit Cards Sub-Category Size by Transaction Value (CLP Trillion), 2008-2017
Figure 35: Chilean Personal Credit Cards Sub-Category Size by Transactions Volume (Million), 2008-2017
Figure 36: Chilean Commercial Credit Cards Sub-Category Size by Volume of Cards (Thousand), 2008-2017
Figure 37: Chilean Commercial Credit Cards Sub-Category Size by Transaction Value (CLP Billion), 2008-2017
Figure 38: Chilean Commercial Credit Cards Sub-Category Size by Transaction Volume (Thousand), 2008-2017
Figure 39: Chilean Credit Cards Category Share by Scheme (%), 2012
Figure 40: Chilean Credit Cards Category Share by Bank (%), 2012
Figure 41: Chilean Debit Cards Category Volume and Penetration, 2008-2017
Figure 42: Chilean Debit Card Category Size by Volume of Cards (Million), 2008-2017
Figure 43: Chilean Debit Cards Category Size by Transaction Value (CLP Trillion), 2008-2017
Figure 44: Chilean Debit Cards Category Size by Transaction Volume (Million), 2008-2017
Figure 45: Chilean Debit Cards Category Transaction Value Share Analysis by Channel (CLP Trillion), 2008-2017
Figure 46: Chilean Debit Card Transactions Volume Share Analysis by Channel (Million), 2008-2017
Figure 47: Chilean Debit Cards Category Share by Scheme (%), 2012
Figure 48: Chilean Debit Cards Category Share by Bank (%), 2012
Figure 49: Chilean Prepaid Cards Category Penetration, 2008-2017
Figure 50: Chilean Prepaid Cards Category Size by Volume of Cards (Million), 2008-2017
Figure 51: Chilean Prepaid Cards Category Size by Transaction Value (CLP Trillion), 2008-2017
Figure 52: Chilean Open-Loop Prepaid Cards Segment Size by Volume of Cards (Thousand), 2008-2017
Figure 53: Chilean Open-Loop Prepaid Cards Segment Size by Transaction Value (CLP Billion), 2008-2017
Figure 54: Chilean Closed-Loop Prepaid Cards Segment Size by Volume of Cards (Million), 2008-2017
Figure 55: Chilean Closed-Loop Prepaid Cards Segment Size by Transaction Value (CLP Trillion), 2008-2017

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