The Cards and Payments Industry in Chile: Emerging Trends and Opportunities to 2019

The Cards and Payments Industry in Chile: Emerging Trends and Opportunities to 2019

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Published on Oct 09, 2015 - 49 pages

Timetric's 'The Cards and Payments Industry in Chile: Emerging Trends and Opportunities to 2019' report provides top-level market analysis, information and insights into Chile's cards and payments industry, including:
  • Current and forecast values for each market in Chile's cards and payments industry, including debit and credit cards. It also includes detailed analysis of the prepaid card market.
  • Detailed insights into payment instruments including check payments, credit transfers, direct debits and payment cards. It also includes an overview of the country's key alternative payment instruments.
  • Analysis of various market drivers and regulations governing Chile's cards and payments industry.
  • Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.
  • Comprehensive analysis of consumer attitudes and buying preferences for cards.
  • The competitive landscape of Chile's cards and payments industry.
Report Highlights
  • Chile's cards and payments industry underwent a transformation during the review period, helped by the entrance of multinational banks, government initiatives such as the financial inclusion program, and infrastructure modernization. As check use has declined, debit and credit cards have benefited. Government efforts to provide basic banking and financial services to the unbanked helped a large proportion of the population to become banked, which also benefitted the industry. According to the World Bank's Global Findex, its global financial inclusion database, the percentage of individuals aged over 15 with an account grew from 42.2% in 2011 to 63.3% in 2014.
  • There were 7.4 million CuentaRUT account holders at BancoEstado as of 2014, representing 41.6% of Chile's total population. However, the CuentaRUT is anticipated to face competition from the Chile Account, a new checking account introduced by Banco de Chile in November 2014, aimed at the low-income and unbanked populations.
  • The high mobile penetration in Chile increased the scope of mobile payments (m-payments) and encouraged new entrants into the market. For instance, m-payment solution provider Omlis entered the Chilean market in July 2014. Similarly, in 2013, Chilean telecoms operator Movistar introduced Pago Movil, enabling consumers to pay bills by mobile phone. Another mobile service provider, Lonix, introduced the Cuenta Movil service in partnership with Banco de Chile and Entel PCS in 2012, extending mobile wallet services to Banco de Chile customers. These initiatives are anticipated to further drive m-payments in the country.
Report Scope
  • This report provides a comprehensive analysis of Chile's cards and payments industry.
  • It provides current values for Chile's cards and payments industry for 2014, and forecast figures to 2019.
  • 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 marketing strategies used by various banks and other institutions.
Reasons to Get this Report
  • 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 key market trends and growth opportunities in Chile's cards and payments industry.
  • Assess the competitive dynamics in Chile's cards and payments industry.
  • Gain insights into marketing strategies used for various card types in Chile.
  • Gain insights into key regulations governing Chile's cards and payments industry.


Table of Contents

1 Definitions and Methodology
1.1 Definitions
1.2 Methodology
2 Key Facts and Events
3 Executive Summary
4 Payment Instruments
4.1 Current Payments Environment
4.2 Alternative Payment Instruments
4.2.1 PayPal
4.2.2 DaoPay
4.2.3 Servipag
4.2.4 DineroMail
5 Regulations in the Cards and Payments Industry
5.1 Regulatory Framework
5.2 Anti-Money Laundering (AML)
5.3 Foreign Direct Investment (FDI) Regulations
6 Analysis of Cards and Payments Industry Drivers
6.1 Demographic Drivers
6.2 Economic Drivers
6.3 Infrastructure Drivers
6.4 Business Drivers
7 Market Segmentation
7.1 Market Segmentation and Targeting
7.1.1 Consumer cards
7.1.2 Commercial cards
8 Payment Cards
8.1 Payment Cards Market Analysis
8.1.1 Volume and value of payment card transactions by type
9 Debit Cards
9.1 Debit Card Market Analysis
9.1.1 Debit card transaction volumes and values by channel
9.1.2 Debit card scheme and issuer shares in terms of transaction value
9.1.3 Debit cards comparison
10 Credit Cards
10.1 Credit Card Market Analysis
10.1.1 Credit card transaction volumes and values by channel
10.1.2 Credit card scheme and issuer shares in terms of transaction value
10.1.3 Credit cards comparison
11 Commercial Cards
11.1 Commercial Card Market Analysis
11.1.1 Commercial cards comparison
12 Prepaid Cards
12.1 Prepaid Card Market Analysis
13 Private Label Cards
13.1 Private Label Card Market Analysis
14 Appendix
14.1 Tables
14.2 Contact Timetric
14.3 About Timetric
14.4 Timetric's Services
14.5 Disclaimer

List of Tables

Table 1: Key Definitions
Table 2: Annual Average Exchange Rate
Table 3: Chile - Key Facts, 2014
Table 4: Regional Benchmarking of Chile's Payment Cards, 2014
Table 5: Chile - Mode of Entry of Foreign Banks
Table 6: Cards for High-Income Consumers, 2015
Table 7: Cards for Shoppers, 2015
Table 8: Cards for Students and Young Population, 2015
Table 9: Cards for Travelers, 2015
Table 10: Commercial Cards Comparison and Key Features, 2015
Table 11: Chile - Debit Cards Comparison and Key Features, 2015
Table 12: Chile - Credit Cards Comparison and Key Features, 2015
Table 13: Chile - Commercial Cards Comparison and Key Features, 2015
Table 14: Chile - Retailer Cards, May 2015
Table 15: Chile - Payment Instrument Transaction Values (CLP Trillion), 2010-2014
Table 16: Chile - Payment Instrument Transaction Values (US$ Billion), 2010-2014
Table 17: Chile - Payment Instrument Transaction Volumes (Million), 2010-2014
Table 18: Chile - Number of Payment Cards in Circulation by Type (Million), 2010-2019
Table 19: Chile - Volume of Payment Card Transactions by Type (Million), 2010-2019
Table 20: Chile - Value of Payment Card Transactions by Type (CLP Trillion), 2010-2019


Companies Mentioned:

Banco del Estado de Chile
Banco de Chile
Banco Santander-Chile
Banco de Credito e Inversiones
CuentaRUT
Redcompra
American Express
Diners Club
Visa
MasterCard
Magna