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Retailer Payments, Banking, Insurance and Assistance in Brazil investigates the market for financial services organised by over 200 major retail brands in Brazil. As well as examining their initiatives in payment cards, banking products, insurance and assistance, the study also examines their involvement in proprietary and coalition loyalty programs, and details the online payment mechanisms accepted by those with an online sales capability. Among other data points, the report and PartnerBASE™ dataset that accompanies it embrace the following information about the retailers covered:

- whether they offer their own credit, debit or prepaid cards and, if so, the card issuers that they work with in this context if they do not issue the cards themselves;

- whether they are linked to one or more loyalty programs and, if so, whether these are proprietary or coalition schemes;

- whether they make non-card point-of-sale finance available to their customers and, if so, the finance providers that they employ for this purpose;

- whether they promote mainstream banking products such as general-purpose personal loans, mortgages and savings accounts and, if so, the partners that they co-operate with;

- whether they distribute accident, dental, health, household, life, motor, pet or travel insurance, or any kind of assistance services and, if so, the insurance or assistance providers used;

- for retail brands with an online sales capability, the payment means and providers that they accept for online purchases with consideration of payment cards, online accounts, mobile payments, bank transfers and other online payment options.

The report and PartnerBASE™ dataset can be used in the following ways:

- to gain access to a comprehensive source of information that provides detailed insights into the involvement of major retail brands in Brazil in payments, banking, insurance and assistance;

- to monitor the activity of key competitors in retailer financial services including Bcash, Bradescard, Cetelem, Itaú and Midway Financeira;

- to understand the potential in Brazil for converting proprietary retailer loyalty cards and coalition loyalty schemes into fully-fledged payment cards;

- to evaluate the extent to which consolidation among conventional banks is opening up opportunities for new retailer banks to emerge as ‘consumer champions';

- to appreciate the range of online payment choices open to consumers in Brazil who buy products and services through the websites of major retail groups.

Table Of Contents

Retailer Payments, Banking, Insurance and Assistance in Brazil
0.0 EXECUTIVE SUMMARY 1
1.0 INTRODUCTION 3
What is this report about? 3
Rationale 3
In many countries, consumers are tending to gravitate to larger retailers and to buy more online... 3
... which throws up new opportunities in payments, banking, insurance and assistance 3
Methodology 4
Survey of retailers 4
The survey's scope covers 211 important retail brands grouped across ten categories... 4
Definitions 5
Payment, banking, insurance and assistance products and services 5
Operating models 7
Weighted shares 7
PartnerBASE 7
Finaccord 8
2.0 MARKET ANALYSIS 9
Introduction 9
Retailer payment cards 10
Credit, debit and prepaid cards 10
Almost a half of major retail brands in Brazil operate a co-branded or private label payment card 10
Itaú Unibanco is the most frequently named partner for retailer payment cards in Brazil 10
Bradesco's retailer card division expanded greatly following its acquisition of ibi in 2009 10
Other providers, including Cetelem and Losango, also serve a significant number of retailers 11
Captive and joint venture card issuers are utilised in a minority of cases... 11
... with internally-managed schemes occurring more frequently 11
Retail brands belonging to Wal-Mart utilise a hybrid operating model 11
Midway Financeira is a substantial player in retailer payment cards in Brazil… 12
…as is LuizaCred, a joint venture between Magazine Luiza and Itaú Unibanco 12
Given its partnerships, Itaú is likely to be the leading issuer of retailer payment cards 12
MasterCard and private-label programs are more numerous than Visa programs 13
All retail brands in two categories have introduced their own payment cards... 15
… with brands operating an offline-only distribution model the most likely to promote a card 15
Gift cards 17
Just under a quarter of major retailers in Brazil offer a stored-value gift card... 17
... with initiatives for these products visible across all retailer categories except one 17
Close to a third of retailers operating a mixed distribution model promote gift cards 17
Retailer loyalty programs 19
Just under a half of retail brands surveyed participate in any form of loyalty program 19
Specialist retailers of consumer electronics are least likely to have a loyalty program 19
Proprietary loyalty programs 21
Almost a half of major retail chains in Brazil have launched their own proprietary loyalty scheme 21
Coalition loyalty programs 21
Three different coalition loyalty programs have attracted major retail brands as partners in Brazil… 21
…with dotz named by the largest number of retailers 21
Two coalition loyalty programs originate from the airline sector… 21
…and both count retail brands owned by Wal-Mart as active participants 21
Consumer finance 22
Provision rates for point-of-sale finance are substantially below those for retailer credit cards 22
No single provider of consumer finance is a clear market leader by number of partnerships… 22
…although the strength of the partnerships of Caixa Econômica Federal make it the leader after weighting 23
Department stores and variety retailers claim the highest provision rate for consumer finance 24
Banking products 26
Overview 26
Five major retail brands in Brazil offer mainstream banking products to their customers... 26
Personal loans, mortgages and savings accounts 26
... all of which are active in the field of general-purpose personal loans 26
International payments / remittances 28
Insurance and assistance 29
Eight major retail chains in Brazil promote mainstream forms of insurance of the type researched 29
Most insurance distribution partnerships among retailers are organised with a single, external partner... 29
... with OdontoPrev utilised by all that promote dental insurance 30
By weighted share of partnerships, Cardif emerges as a likely leader in retailer insurance 30
Only three retailer categories feature any provision for insurance and assistance products 31
Online payments 33
Acceptance rates 33
Payment cards and the Boleto Bancário are the most commonly accepted online payment means 33
Payment cards 33
A total of nine different payment card brands enjoy online acceptance among major retailers in Brazil... 33
... including Aura, Elo and Hipercard... 34
… plus some much smaller networks 34
Online accounts 36
Four providers of online accounts are used to one extent or another by major retail brands 36
Bcash leads on an unweighted basis but PayPal overtakes it in the weighted analysis 36
Retailers in the consumer electronics sector record the highest acceptance rates for online accounts 37
Mobile payments 38
Oi Paggo is the only mobile payment service accepted as an online payment means... 38
... and its online retail partners are concentrated in just three retailer categories 39
Bank transfers 40
Direct bank transfers enjoy fairly significant acceptance rates across most retailer categories 40
Other methods of online payment 41
Payment through Boleto Bancário enjoys a high degree of online merchant acceptance in Brazil 41
3.0 APPENDIX 42
Major captives and joint ventures 42


List of Graphics / Tables


0.0 EXECUTIVE SUMMARY 1
Provision rates for key payment, banking, insurance and assistance products, adherence rates for loyalty
schemes and online payment product acceptance rates among retailers in Brazil, 2013 2
1.0 INTRODUCTION 3
Retailers researched in Brazil, segmented by category, 2013 4
Retailers researched in Brazil segmented by distribution model, 2013 5
2.0 MARKET ANALYSIS 9
Provision of retailer payment cards by type of card in Brazil, 2013 10
Retailer payment cards in Brazil: provision rate and operating models, 2013 12
Retailer payment cards in Brazil: unweighted and weighted issuer share of partnerships, 2013 13
Retailer payment cards in Brazil: unweighted and weighted network share of partnerships, 2013 14
Provision of retailer payment cards by retailer category and distribution model in Brazil, 2013 16
Provision of retailer gift cards by retailer category and distribution model in Brazil, 2013 18
Retailer loyalty programs in Brazil: provision rates, program types and links to payment and other cards,
2013 19
Provision of or involvement in loyalty programs by retailer category and distribution model in Brazil, 2013
20
Coalition loyalty programs in Brazil: unweighted share of retailer brand members, 2013 22
Retailer consumer finance in Brazil: provision rate and operating models, 2013 23
Retailer consumer finance in Brazil: unweighted and weighted provider share of partnerships, 2013 24
Provision of retailer consumer finance by retailer category and distribution model in Brazil, 2013 25
Retailer provision of other banking products and services in Brazil, 2013 26
Retailer personal loans, mortgages and savings accounts in Brazil: provision and operating models, 2013
27
Retailer personal loans, mortgages and savings accounts in Brazil: unweighted and weighted provider
share of partnerships, 2013 28
Retailer insurance and assistance in Brazil: provision by type of insurance, 2013 29
Retailer insurance and assistance in Brazil: provision and operating models, 2013 30
Retailer insurance and assistance in Brazil: unweighted and weighted provider share of partnerships,
2013 31
Provision of insurance and assistance by retailer category and distribution model in Brazil, 2013 32
Retailer online payment acceptance in Brazil: acceptance rates by payment type, 2013 33
Payment cards accepted as an online payment mechanism by retailers in Brazil: unweighted and
weighted network share of acceptance, 2013 35
Acceptance of payment cards as an online payment mechanism by retailer category in Brazil, 2013 36
Online accounts accepted as an online payment mechanism by retailers in Brazil: unweighted and
weighted provider share of acceptance, 2013 37
Acceptance of online accounts as an online payment mechanism by retailer category in Brazil, 2013 ..... 38
Mobile payment services accepted as an online payment mechanism by retailers in Brazil: unweighted
and weighted provider share of acceptance, 2013 39
Acceptance of mobile payments as an online payment mechanism by retailer category in Brazil, 2013 ... 39
Acceptance of direct bank transfers as an online payment mechanism by retailer category in Brazil, 2013
40
Acceptance of other types of online payment mechanisms by retailer category in Brazil, 2013 41
3.0 APPENDIX 42
Retailer captives and joint ventures in payments, banking, insurance and assistance in Brazil: operating
models, partners and ownership, 2013 42

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