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  5. > Peru%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 Peru's cards and payments industry, including:
- Current and forecast values for each category of Peru'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 Peru'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 Peru's cards and payments industry

Summary
The Peruvian economy was impacted heavily by the global financial crisis, with its GDP growth decelerating from 9.8% in 2008 to 0.9% in 2009. Its economy recovered immediately in 2010, however, recording a GDP growth of 8.8%, mainly due to strong macroeconomic indicators, a sound banking system and a prudent fiscal policy, which in turn improved employment levels and per capita income. Improvements in income levels offered a wider market to banks and financial companies, as they were able to serve a larger section of society, resulting in growth of the Peruvian cards and payments industry during the review period (2009–2013).
The Peruvian card payments channel grew at a healthy pace during the review period, both in terms of volume and value. In terms of the number of cards in circulation, the channel increased from 19.4 million in 2009 to 24.7 million in 2013, at a review-period compound annual growth rate (CAGR) of 6.33%. Over the forecast period, this channel is anticipated to register a CAGR of 8.24%, reaching 38.2 million cards by the end of 2018.
In terms of transaction value, card payments increased from PEN84.1 billion (US$27.9 billion) in 2009 to PEN233.2 billion (US$86.3 billion) in 2013, at a review-period CAGR of 29.03%. This figure is forecast to increase further, from PEN282.5 billion (US$101.6 billion) in 2014 to PEN552.3 billion (US$202.1 billion) in 2018, at a forecast-period CAGR of 18.24%.
Many factors have contributed to the growth of the Peruvian card payments channel over the review period, both in volume and value. Examples of this include the government’s initiative to provide banking access through the financial inclusion plan, the growing popularity of payment cards, the availability of retail bank agents in every part of the country, and banks’ aggressive promotional strategies.

Scope
- This report provides a comprehensive analysis of Peru's cards and payments industry.
- It provides current values for Peru's cards and payments industry for 2013, and forecast figures for 2018.
- It details the different economic, infrastructural and business drivers affecting Peru'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 Peru's cards and payments industry.

Reasons To Buy
- Make strategic business decisions using top-level historic and forecast market data related to Peru's cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities within Peru's cards and payments industry.
- Assess the competitive dynamics in Peru's cards and payments industry.
- Gain insights in to the marketing strategies used for selling various card types in Peru.
- Gain insights into key regulations governing Peru's cards and payments industry.

Key Highlights
- The Peruvian card payments channel grew at a healthy pace during the review period, both in terms of volume and value. In terms of the number of cards in circulation, the channel increased from 19.4 million in 2009 to 24.7 million in 2013, at a review-period compound annual growth rate (CAGR) of 6.33%. Over the forecast period, this channel is anticipated to register a CAGR of 8.24%, reaching 38.2 million cards by the end of 2018.
- In terms of transaction value, card payments increased from PEN84.1 billion (US$27.9 billion) in 2009 to PEN233.2 billion (US$86.3 billion) in 2013, at a review-period CAGR of 29.03%. This figure is forecast to increase further, from PEN282.5 billion (US$101.6 billion) in 2014 to PEN552.3 billion (US$202.1 billion) in 2018, at a forecast-period CAGR of 18.24%.
- In 2005, regulations were introduced which allowed banks to offer financial services through third-party agents, subject to prior authorization from the Banking and Insurance Superintendency (SBS). Agents are typically small retail establishments through which banks are able to execute financial transactions such as loan payments, withdrawals, transfers, deposits to a customer or a third party’s account, payments on goods or services, and other functions permitted by the SBS.
- The Peruvian government introduced e-money regulations in May 2012, as part of its financial inclusion plan to bring a large section of the unbanked population into the formal banking system. E-money regulations were adopted primarily to benefit Peruvian citizens living in rural areas who have little access to banking services and infrastructure. Under the regulations, banks, financial companies and savings banks authorized by SBS are allowed to offer e-money services, although this will also pave the way for Electronic Money Issuer Companies (EEDE), specialized companies that offer e-money services.
- Mobile payments (m-payments) grew from PEN236.7 million (US$78.6 million) in 2009 to PEN1.4 billion (US$528.0 million) in 2013, and are anticipated to reach PEN4.2 billion (US$1.5 billion) in 2018. Similarly, e-commerce registered a review-period CAGR of 31.55%, rising from PEN853.7 million (US$283.5 million) in 2009 to PEN2.6 billion (US$945.5 million) in 2013, and is anticipated to grow even further over the forecast period.
In line with the increase of outbound travelers, outbound travel spending among the retail and corporate segments increased at a CAGR of 6.21% during the review period, and is anticipated to increase further over the forecast period, reaching a CAGR of 4.06% and further fueling the growth of travel cards.

Table Of Contents

Peru%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, Key Trends and Drivers
2.1 Payment Infrastructure and Emerging Technology
2.1.1 Rising internet penetration
2.1.2 Growing mobile payments
2.1.3 Automated teller machines (ATMs)
2.1.4 Agents and low cost banking channels
2.1.5 Point-of-sale (POS) terminals
2.2 Business Drivers
2.2.1 Growth in retail industry
2.2.2 Growth in e-commerce
2.3 Economic Drivers
2.3.1 GDP growth
2.3.2 GDP per capita
2.3.3 Inflation
3 Cards and Payments Industry Share Analysis
3.1 Industry Overview
3.1.1 Credit transfer
3.1.2 Check payments
3.1.3 Card transactions
3.1.4 Cash transactions
3.1.5 Direct debit
4 Regulatory Framework and Card Fraud Statistics
4.1 Regulatory Framework
4.1.1 Overview
4.1.2 Anti-money laundering (AML) and terrorist financing (TF)
4.1.3 Foreign direct investment (FDI) regulations
4.2 Card Fraud Statistics
4.2.1 Card-not-present fraud
4.2.2 Counterfeit card fraud
4.2.3 Lost or stolen card
4.2.4 Card ID theft
5 Emerging Consumer Attitudes and Trends
5.1 Industry Segmentation and Targeting
5.1.1 Retail segment
5.1.2 Corporate segment
5.2 Travel and Tourism Spending
5.2.1 Outbound tourist trips
5.2.2 Outbound tourist spending
5.3 Retail Card Spending
5.3.1 Analysis by product categories
5.3.2 Analysis by retail channel
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 number of cards in circulation
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 number 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 Segment Size and Forecast
7.3.1 Analysis by number of cards in circulation
7.3.2 Analysis by transaction value
7.3.3 Analysis by transaction volume
7.4 Commercial Credit Cards Segment 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 number of cards in circulation
9.3.2 Analysis by transaction value
10 Merchant Acquiring
11 Company Profiles of Card Issuers
11.1 Banco de Credito del Perú (BCP)
11.1.1 Key financials
11.1.2 Card portfolio
11.1.3 Strategies
11.2 Banco Financiero
11.2.1 Key financials
11.2.2 Card portfolio
11.2.3 Strategies
11.3 Interbank
11.3.1 Key financials
11.3.2 Card portfolio
11.3.3 Strategies
11.4 BBVA Continental
11.4.1 Key financials
11.4.2 Card portfolio
11.4.3 Strategies
11.5 Banco Falabella
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: Peruvian Payment Channels (PEN Billion), 2009-2013
Table 2: Market Entry Strategies of Foreign Banks
Table 3: Peruvian Card Fraud (PEN Thousand), 2009-2013
Table 4: Peruvian Cards for High-Income Customers
Table 5: Peruvian Shopping Cards by Bank
Table 6: Peruvian Cards Offered to Low Income Customers by Bank
Table 7: Peruvian Travel Cards by Bank
Table 8: Peruvian Cards Offered for SMEs and Large Corporations by Bank
Table 9: Peruvian Consumer Card Spending by Product Category (PEN Million), 2008 and 2012
Table 10: Peruvian Consumer Card Spending by Retail Channel (PEN Million), 2008 and 2012
Table 11: Peruvian Card Payments Channel by Card Category (Million), 2009-2018
Table 12: Peruvian Card Payments Channel Size by Volume of Cards (Million), 2009-2018
Table 13: Peruvian Card Payments Channel Size by Transaction Value (PEN Billion), 2009-2018
Table 14: Peruvian Card Payments Channel Size by Transaction Value (US$ Billion), 2009-2018
Table 15: Peruvian Credit Cards Category Size by Volume of Cards (Million), 2009-2018
Table 16: Peruvian Credit Cards Category Size by Transaction Value (PEN Billion), 2009-2018
Table 17: Peruvian Credit Cards Category Size by Transaction Value (US$ Billion), 2009-2018
Table 18: Peruvian Credit Cards Category Size by Transaction Volume (Million), 2009-2018
Table 19: Peruvian Personal Credit Cards Segment Size by Volume of Cards (Million), 2009-2018
Table 20: Peruvian Personal Credit Cards Segment Size by Transaction Value (PEN Billion), 2009-2018
Table 21: Peruvian Personal Credit Cards Segment Size by Transaction Value (US$ Billion), 2009-2018
Table 22: Peruvian Personal Credit Cards Segment Size by Transaction Volume (Million), 2009-2018
Table 23: Peruvian Commercial Credit Cards Segment Size by Volume of Cards (Thousand), 2009-2018
Table 24: Peruvian Commercial Credit Cards Segment Size by Transaction Value (PEN Million), 2009-2018
Table 25: Peruvian Commercial Credit Cards Segment Size by Transaction Value (US$ Million), 2009-2018
Table 26: Peruvian Commercial Credit Cards Segment Size by Transaction Volume (Million), 2009-2018
Table 27: Peruvian Debit Cards Category Size by Volume of Cards (Million), 2009-2018
Table 28: Peruvian Debit Cards Category Size by Transaction Value (PEN Billion), 2009-2018
Table 29: Peruvian Debit Cards Category Size by Transaction Value (US$ Billion), 2009-2018
Table 30: Peruvian Debit Cards Category Size by Transaction Volume (Million), 2009-2018
Table 31: Peruvian Prepaid Cards Category Size by Volume of Cards (Thousand), 2009-2018
Table 32: Peruvian Prepaid Cards Category Size by Transaction Value (PEN Million), 2009-2018
Table 33: Peruvian Prepaid Cards Category Size by Transaction Value (US$ Million), 2009-2018
Table 34: Peruvian Open-Loop Prepaid Cards Segment Size by Volume of Cards (Thousand), 2009-2018
Table 35: Peruvian Open-Loop Prepaid Cards Segment Size by Transaction Value (PEN Million), 2009-2018
Table 36: Peruvian Open-Loop Prepaid Cards Segment Size by Transaction Value (US$ Million), 2009-2018
Table 37: Peruvian Closed-Loop Prepaid Cards Segment Size by Volume of Cards (Thousand), 2009-2018
Table 38: Peruvian Closed-Loop Prepaid Cards Segment Size by Transaction Value (PEN Million), 2009-2018
Table 39: Peruvian Closed-Loop Prepaid Cards Segment Size by Transaction Value (US$ Million), 2009-2018
Table 40: BCP - Key Financial Indicators (PEN Million), Year Ending December, 2011-2012
Table 41: BCP - Card Portfolio and Key Features
Table 42: Banco Financiero - Key Financial Indicators (US$ Thousand), Year Ending December, 2011-2012
Table 43: Banco Financiero - Card Portfolio and Key Features
Table 44: Interbank - Key Financial Indicators (PEN Million), Year Ending December, 2011-2012
Table 45: Interbank - Card Portfolio and Key Features
Table 46: BBVA Continental - Key Financial Indicators (PEN Million), Year Ending December, 2012-2013
Table 47: BBVA Continental - Card Portfolio and Key Features
Table 48: Banco Falabella - Card Portfolio and Key Features
Table 49: Key Definitions

List of Figures
Figure 1: Benchmarking the Peruvian Card Payment Channel Against Other Latin American Markets
Figure 2: Peruvian Growth of Various Card Categories (%), 2009-2018
Figure 3: Peruvian Internet Penetration, 2009-2018
Figure 4: Peruvian Value of M-Payments (PEN Million), 2009-2018
Figure 5: Peruvian ATM Penetration, 2009-2018
Figure 6: Peruvian POS Penetration, 2009-2018
Figure 7: Peruvian Value of Retail Sales (PEN Billion), 2009-2018
Figure 8: Peruvian E-Commerce Value (PEN Million), 2009-2013
Figure 9: Peruvian Real GDP Growth (%), 2009-2018
Figure 10: Peruvian Nominal GDP Per Capita (US$), 2009-2018
Figure 11: Peruvian Inflation (Consumer Price Inflation) Rate (%), 2009-2018
Figure 12: Peruvian Shares of Different Payment Channels (%), 2009 and 2013
Figure 13: Peruvian Card Fraud (%), 2009 and 2013
Figure 14: Peruvian Card-Not-Present Fraud Value (PEN Million), 2009-2013
Figure 15: Peruvian Counterfeit Card Fraud Value (PEN Thousand), 2009-2013
Figure 16: Peruvian Lost or Stolen Card Fraud Value (PEN Thousand), 2009-2013
Figure 17: Peruvian Card ID Theft Value (PEN Thousand), 2009-2013
Figure 18: Peruvian Cards and Payments Industry Segmentation by Card Type
Figure 19: Peruvian Volume of Outbound Tourist Trips (Thousand), 2009-2018
Figure 20: Peruvian Outbound Tourist Spending (PEN Million), 2009-2018
Figure 21: Peruvian Consumer Card Spending by Product Category (%), 2012
Figure 22: Peruvian Consumer Card Spending by Retail Channel (%), 2012
Figure 23: Peruvian Card Payments Channel by Card Category (%), 2009-2018
Figure 24: Peruvian Card Payments Channel Size by Volume of Cards (Million), 2009-2018
Figure 25: Peruvian Card Payments Channel Size by Transaction Value (PEN Billion), 2009-2018
Figure 26: Peruvian Credit Cards Category Volume and Penetration, 2009-2018
Figure 27: Peruvian Credit Cards Category Size by Volume of Cards (Million), 2009-2018
Figure 28: Peruvian Credit Cards Category Size by Transaction Value (PEN Billion), 2009-2018
Figure 29: Peruvian Credit Cards Category Size by Transaction Volume (Million), 2009-2018
Figure 30: Peruvian Credit Cards Transaction Value Share Analysis by Channel (PEN Billion), 2009-2018
Figure 31: Peruvian Credit Cards Transaction Volume Share Analysis by Channel (Million), 2009-2018
Figure 32: Peruvian Personal Credit Cards Segment Size by Volume of Cards (Million), 2009-2018
Figure 33: Peruvian Personal Credit Cards Segment Size by Transaction Value (PEN Billion), 2009-2018
Figure 34: Peruvian Personal Credit Cards Segment Size by Transaction Volume (Million), 2009-2018
Figure 35: Peruvian Commercial Credit Cards Segment Size by Volume of Cards (Thousand), 2009-2018
Figure 36: Peruvian Commercial Credit Cards Segment Size by Transaction Value (PEN Million), 2009-2018
Figure 37: Peruvian Commercial Credit Cards Segment Size by Transaction Volume (Million), 2009-2018
Figure 38: Peruvian Credit Cards Category Share by Scheme (%), 2012
Figure 39: Peruvian Credit Cards Category Share by Issuer (%), 2012
Figure 40: Peruvian Debit Cards Category Volume and Penetration, 2009-2018
Figure 41: Peruvian Debit Cards Category Size by Volume of Cards (Million), 2009-2018
Figure 42: Peruvian Debit Cards Category Size by Transaction Value (PEN Billion), 2009-2018
Figure 43: Peruvian Debit Cards Category Size by Transaction Volume (Million), 2009-2018
Figure 44: Peruvian Debit Cards Transaction Value Share Analysis by Channel (PEN Billion), 2009-2018
Figure 45: Peruvian Debit Cards Transaction Volume Share Analysis by Channel (Million), 2009-2018
Figure 46: Peruvian Debit Cards Category Share by Scheme (%), 2012
Figure 47: Peruvian Debit Cards Category Share by Issuer (%), 2012
Figure 48: Peruvian Prepaid Cards Category Volume and Penetration, 2009-2018
Figure 49: Peruvian Prepaid Cards Category Size by Volume of Cards (Million), 2009-2018
Figure 50: Peruvian Prepaid Cards Category Size by Transaction Value (PEN Million), 2009-2018
Figure 51: Peruvian Open-Loop Prepaid Cards Segment Size by Volume of Cards (Thousand), 2009-2018
Figure 52: Peruvian Open-Loop Prepaid Cards Segment Size by Transaction Value (PEN Million), 2009-2018
Figure 53: Peruvian Closed-Loop Prepaid Cards Segment Size by Volume of Cards (Thousand), 2009-2018
Figure 54: Peruvian Closed-Loop Prepaid Cards Segment Size by Transaction Value (PEN Million), 2009-2018

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