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Venezuela's Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape

LONDON, Sept. 1, 2014 /PRNewswire/ -- Reportbuyer.com has added a new market research report:

 

Venezuela's Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape

 

https://www.reportbuyer.com/product/2346626/Venezuela's-Cards-and-Payments-Industry-Emerging-Opportunities-Trends-Size-Drivers-Strategies-Products-and-Competitive-Landscape.html

 

Synopsis

 

The report provides top-level market analysis, information and insights into Venezuela's cards and payments industry, including:

- Current and forecast values for each category of Venezuela'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 Venezuela'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 Venezuela's cards and payments industry

 

Summary

 

Venezuela is one of the founding members of Organization of the Petroleum Exporting Countries (OPEC) and is one of the world's biggest exporters of crude oil. The global crisis severely affected the Venezuelan economy, with the GDP growth contracting to reach -3.20% in 2009. Since early 2013, the country has faced food shortages, high inflation, and pressures on fixed currency exchange regulations. In a bid to revive the economy, the government is attempting to tackle problems in the core areas such the supply of goods, import of food staples, labor, and international travel. In May 2014, the government increased minimum wages by 30%, followed by increase in average salary of public administration workers and civil servants by 43% in July. The anticipated growth in economy over the forecast period (2014–2018) will have a positive effect on the card payments channel.

The Venezuelan card payments channel grew in value and volume terms during the review period (2009–2013). The channel grew from 24.7 million cards in circulation in 2009 to 34.6 million in 2013, at a compound annual growth rate (CAGR) of 8.77% and is anticipated to further post a CAGR of 6.74% over the forecast period, to reach 49.1 million in 2018. In terms of transaction value, the card payments channel grew VEF189.5 billion (US$88.3 billion) in 2009 to VEF845.3 billion (US$138.2 billion) in 2013, at a review-period CAGR of 45.32% and is anticipated to post a forecast-period CAGR of 21.50%, to reach to VEF2.5 trillion (US$139 billion) in 2018.

Banks in Venezuela are focusing on offering banking and financial services to customers residing in urban and rural areas, through low-cost channels such as internet and mobile banking and self-service terminals. This strategy serves several purposes: banks are able to reduce branch establishment costs, while customers benefit from not waiting in long queues, and can also avoid being robbed. Consequently, most Venezuelan consumers are open to modern payment methods.

In terms of transaction value, the debit and credit card categories recorded respective review-period CAGRs of 50.87% and 27.62%. In 2013, the value of debit card transactions at POS terminals was marginally greater than at ATMs, representing 51.8% of the total debit cards transaction value. Similarly, the value of credit cards transactions at POS terminals was greater than that at ATMs, representing 95% of the total credit cards transaction value. Increasing use of debit and credit cards at POS terminals and the growing need for credit among middle-class families are anticipated to increase card transaction values over the forecast period.

 

Scope

 

- This report provides a comprehensive analysis of Venezuela's cards and payments industry.

- It provides current values for Venezuela's cards and payments industry for 2013, and forecast figures for 2018.

- It details the different economic, infrastructural and business drivers affecting Venezuela'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 Venezuela's cards and payments industry.

 

Reasons To Buy

 

- Make strategic business decisions using top-level historic and forecast market data related to Venezuela's cards and payments industry and each market within it.

- Understand the key market trends and growth opportunities within Venezuela's cards and payments industry.

- Assess the competitive dynamics in Venezuela's cards and payments industry.

- Gain insights in to the marketing strategies used for selling various card types in Venezuela.

- Gain insights into key regulations governing Venezuela's cards and payments industry.

 

Key Highlights

 

- The Venezuelan card payments channel grew in value and volume terms during the review period (2009–2013). The channel grew from 24.7 million cards in circulation in 2009 to 34.6 million in 2013, at a compound annual growth rate (CAGR) of 8.77% and is anticipated to further post a CAGR of 6.74% over the forecast period, to reach 49.1 million in 2018. In terms of transaction value, the card payments channel grew VEF189.5 billion (US$88.3 billion) in 2009 to VEF845.3 billion (US$138.2 billion) in 2013, at a review-period CAGR of 45.32% and is anticipated to post a forecast-period CAGR of 21.50%, to reach to VEF2.5 trillion (US$139 billion) in 2018.

- Many factors supported the review-period growth, such as an increase in per capita income, payment infrastructure modernization, growth in retail, e-commerce and tourism industries. Venezuela's government's decision to offer social benefits to senior citizens through banks supported the growth of the debit cards category, while growing demand for credit among middle-income consumers following the economic crisis benefitted the credit cards category.

- Banks in Venezuela are focusing on offering banking and financial services to customers residing in urban and rural areas, through low-cost channels such as internet and mobile banking and self-service terminals. This strategy serves several purposes: banks are able to reduce branch establishment costs, while customers benefit from not waiting in long queues, and can also avoid being robbed. Consequently, most Venezuelan consumers are open to modern payment methods.

- In terms of transaction value, the debit and credit card categories recorded respective review-period CAGRs of 50.87% and 27.62%. In 2013, the value of debit card transactions at POS terminals was marginally greater than at ATMs, representing 51.8% of the total debit cards transaction value. Similarly, the value of credit cards transactions at POS terminals was greater than that at ATMs, representing 95% of the total credit cards transaction value. Increasing use of debit and credit cards at POS terminals and the growing need for credit among middle-class families are anticipated to increase card transaction values over the forecast period.

Table of Contents

1 Executive Summary

2 Analysis of Market Environment, Key Trends and Drivers

2.1 Payment Infrastructure and Emerging Technologies

2.1.1 Growing number of ATMs

2.1.2 Growing number of POS terminals

2.1.3 Growing number of EMV cards

2.1.4 Rising internet penetration

2.2 Business Drivers

2.2.1 Growth in the 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 transfers

3.1.2 Check payments

3.1.3 Cash transactions

3.1.4 Card transactions

3.1.5 Direct debits

4 Regulatory Framework and Card Fraud Statistics

4.1 Regulatory Framework

4.1.1 Law on credit, debit, prepaid, other cards and electronic payment financing

4.1.2 Consumer protection

4.1.3 Anti-money laundering and counter terrorism financing (AML/CTF)

4.1.4 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 fraud

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

6 Analysis of Card Payments and Growth Prospects

6.1 Channel Share Analysis by Card Category

6.2 Size of and Forecast for 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

10 Merchant Acquiring

11 Company Profiles of Card Issuers

11.1 Banesco Banco Universal, CA (Banesco)

11.1.1 Key financials

11.1.2 Card portfolio

11.1.3 Strategies

11.2 Banco de Venezuela

11.2.1 Card portfolio

11.2.2 Strategies

11.3 Banco Mercantil Universal (Mercantil)

11.3.1 Key financials

11.3.2 Card portfolio

11.3.3 Strategies

11.4 BBVA Provincial

11.4.1 Key financials

11.4.2 Card portfolio

11.4.3 Strategies

11.5 Bancaribe

11.5.1 Key financials

11.5.2 Card portfolio

11.5.3 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: Venezuela – Payment Channels (VEF Million), 2009–2013

Table 2: Venezuela – Market-Entry Strategies of Foreign Banks

Table 3: Venezuela – Card Fraud Value (VEF Million), 2009–2013

Table 4: Venezuela – Cards for High-Income Customers

Table 5: Venezuela – Cards for Students and Young Population

Table 6: Venezuela – Cards for Shoppers

Table 7: Venezuela – Cards Offered for Corporate Customers

Table 8: Venezuela – Card Payments Channel by Card Category (Million), 2009–2018

Table 9: Venezuela – Card Payments Channel Size by Volume of Cards (Million), 2009–2018

Table 10: Venezuela – Card Payments Channel Size by Transaction Value (VEF Billion), 2009–2018

Table 11: Venezuela – Card Payments Channel Size by Transaction Value (US$ Billion), 2009–2018

Table 12: Venezuela – Credit Cards Category Size by Volume of Cards (Million), 2009–2018

Table 13: Venezuela – Credit Cards Category Size by Transaction Value (VEF Billion), 2009–2018

Table 14: Venezuela – Credit Cards Category Size by Transaction Value (US$ Billion), 2009–2018

Table 15: Venezuela – Credit Cards Category Size by Transaction Volume (Million), 2009–2018

Table 16: Venezuela – Personal Credit Cards Segment Size by Volume of Cards (Million), 2009–2018

Table 17: Venezuela – Personal Credit Cards Segment Size by Transaction Value (VEF Billion), 2009–2018

Table 18: Venezuela – Personal Credit Cards Segment Size by Transaction Value (US$ Billion), 2009–2018

Table 19: Venezuela – Personal Credit Cards Segment Size by Transaction Volume (Million), 2009–2018

Table 20: Venezuela – Commercial Credit Cards Segment Size by Volume of Cards (Thousand), 2009–2018

Table 21: Venezuela – Commercial Credit Cards Segment Size by Transaction Value (VEF Billion), 2009–2018

Table 22: Venezuela – Commercial Credit Cards Segment Size by Transaction Value (US$ Million), 2009–2018

Table 23: Venezuela – Commercial Credit Cards Segment Size by Transaction Volume (Million), 2009–2018

Table 24: Venezuela – Debit Cards Category Size by Volume of Cards (Million), 2009–2018

Table 25: Venezuela – Debit Cards Category Size by Transaction Value (VEF Billion), 2009–2018

Table 26: Venezuela – Debit Cards Category Size by Transaction Value (US$ Billion), 2009–2018

Table 27: Venezuela – Debit Cards Category Size by Transaction Volume (Million), 2009–2018

Table 28: Venezuela – Prepaid Cards Category Size by Volume of Cards (Million), 2009–2018

Table 29: Venezuela – Prepaid Cards Category Size by Transaction Value (VEF Billion), 2009–2018

Table 30: Venezuela – Prepaid Cards Category Size by Transaction Value (US$ Billion), 2009–2018

Table 31: Banesco – Key Financial Indicators (VEF Million), Year Ended December, 2012–2013

Table 32: Banesco – Card Portfolio and Key Features

Table 33: BDV – Card Portfolio and Key Features

Table 34: Mercantil – Key Financial Indicators (VEF Million), Year Ended December, 2012–2013

Table 35: Mercantil – Card Portfolio and Key Features

Table 36: BBVA Group – Key Financial Indicators (EUR Million), Year Ended December, 2012–2013

Table 37: BBVA Provincial – Card Portfolio and Key Features

Table 38: Bancaribe – Key Financial Indicators (VEF Million), Year Ended December, 2012–2013

Table 39: Bancaribe – Card Portfolio and Key Features

Table 40: Key Definitions

 

List of Figures

Figure 1: Benchmarking the Venezuelan Card Payment Channel Against Other Regional Markets

Figure 2: Venezuela – Growth of Various Card Categories (%), 2009–2018

Figure 3: Venezuela – ATM Volume and Penetration, 2009–2018

Figure 4: Venezuela – POS Volume and Penetration, 2009–2018

Figure 5: Venezuela – EMV Cards Volume (Thousand), 2010–2013

Figure 6: Venezuela – Internet Penetration (Internet Users per 100 Inhabitants), 2009–2018

Figure 7: Venezuela – Retail Sales Value (VEF Billion), 2009–2018

Figure 8: Venezuela – E-Commerce Value (VEF Billion), 2009–2013

Figure 9: Venezuela – Real GDP Growth (%), 2009–2018

Figure 10: Venezuela – Nominal GDP Per Capita (US$), 2009–2018

Figure 11: Venezuela – Inflation (Consumer Price Inflation) Rate (%), 2009–2018

Figure 12: Venezuela – Shares of Different Payment Channels (%), 2009 and 2013

Figure 13: Venezuela – Shares of Card Fraud Types In Terms of Transaction Value (%), 2009 and 2013

Figure 14: Venezuela – Card-Not-Present Fraud Value (VEF Million), 2009–2013

Figure 15: Venezuela – Counterfeit Card Fraud Value (VEF Million), 2009–2013

Figure 16: Venezuela – Lost or Stolen Card Fraud Value (VEF Million), 2009–2013

Figure 17: Venezuela – Card ID Theft Value (VEF Million), 2009–2013

Figure 18: Venezuela – Cards and Payments Industry Segmentation by Card Type

Figure 19: Venezuela – Volume of Outbound Tourist Trips (Thousand), 2009–2018

Figure 20: Venezuela – Outbound Tourist Spending (VEF Billion), 2009–2018

Figure 21: Venezuela – Card Payments Channel by Card Category (%), 2009–2018

Figure 22: Venezuela – Card Payments Channel Size by Volume of Cards (Million), 2009–2018

Figure 23: Venezuela – Card Payments Channel Size by Transaction Value (VEF Billion), 2009–2018

Figure 24: Venezuela – Credit Cards Category Volume and Penetration, 2009–2018

Figure 25: Venezuela – Credit Cards Category Size by Volume of Cards (Million), 2009–2018

Figure 26: Venezuela – Credit Cards Category Size by Transaction Value (VEF Billion), 2009–2018

Figure 27: Venezuela – Credit Cards Category Size by Transaction Volume (Million), 2009–2018

Figure 28: Venezuela – Credit Cards Category Transaction Value Share Analysis by Channel (VEF Billion), 2009–2018

Figure 29: Venezuela – Credit Cards Category Transaction Volume Share Analysis by Channel (Million), 2009–2018

Figure 30: Venezuela – Personal Credit Cards Segment Size by Volume of Cards (Million), 2009–2018

Figure 31: Venezuela – Personal Credit Cards Segment Size by Transaction Value (VEF Billion), 2009–2018

Figure 32: Venezuela – Personal Credit Cards Segment Size by Transaction Volume (Million), 2009–2018

Figure 33: Venezuela – Commercial Credit Cards Segment Size by Volume of Cards (Thousand), 2009–2018

Figure 34: Venezuela – Commercial Credit Cards Segment Size by Transaction Value (VEF Billion), 2009–2018

Figure 35: Venezuela – Commercial Credit Cards Segment Size by Transaction Volume (Million), 2009–2018

Figure 36: Venezuela – Credit Cards Category Share by Scheme in Terms of Transaction Value (%), 2013

Figure 37: Venezuela – Credit Cards Category Share by Issuer in Terms of Transaction Value (%), 2013

Figure 38: Venezuela – Debit Cards Category Volume and Penetration, 2009–2018

Figure 39: Venezuela – Debit Cards Category Size by Volume of Cards (Million), 2009–2018

Figure 40: Venezuela – Debit Cards Category Size by Transaction Value (VEF Billion), 2009–2018

Figure 41: Venezuela – Debit Cards Category Size by Transaction Volume (Million), 2009–2018

Figure 42: Venezuela – Debit Cards Category Transaction Value Share Analysis by Channel (VEF Billion), 2009–2018

Figure 43: Venezuela – Debit Cards Category Transaction Volume Share Analysis by Channel (Million), 2009–2018

Figure 44: Venezuela – Debit Cards Category Share by Scheme in Terms of Transaction Value (%), 2013

Figure 45: Venezuela – Debit Cards Category Share by Issuer in Terms of Transaction Value (%), 2013

Figure 46: Venezuela – Prepaid Cards Category Volume and Penetration, 2009–2018

Figure 47: Venezuela – Prepaid Cards Category Size by Volume of Cards (Million), 2009–2018

Figure 48: Venezuela – Prepaid Cards Category Size by Transaction Value (VEF Billion), 2009–2018

Figure 49: Venezuela – Share of Merchant Acquirers in Terms of Transaction Volume at POS Terminals, 2013

 

 

Read the full report:

Venezuela's Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape

https://www.reportbuyer.com/product/2346626/Venezuela's-Cards-and-Payments-Industry-Emerging-Opportunities-Trends-Size-Drivers-Strategies-Products-and-Competitive-Landscape.html

For more information:

Sarah Smith

Research Advisor at Reportbuyer.com

Email: [email protected]

Tel: +44 208 816 85 48

Website: www.reportbuyer.com

SOURCE ReportBuyer

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