Colombia Cards and Payments - Opportunities and Risks to 2026

Colombia Cards and Payments - Opportunities and Risks to 2026

Summary

GlobalData’s ‘Colombia Cards and Payments - Opportunities and Risks to 2026' report provides detailed analysis of market trends in Colombia's cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry including cash, cards, direct debit and cheques during the review-period (2018-22e).

The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2022e-26f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together GlobalData’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.

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

• Current and forecast values for each market in Colombia's cards and payments industry, including debit and credit cards.
• Detailed insights into payment instruments including cash, cards, direct debit and cheques. It also, includes an overview of the country's key alternative payment instruments.
• Ecommerce market analysis.
• Analysis of various market drivers and regulations governing Colombia'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 Colombia's cards and payments industry.

Scope

• The extension of contactless payment for transport will support the growth of the card payment space. In September 2021, Visa partnered with government organizations - the Mayor’s Office of Santiago de Cali, Metro Cali, and the Temporary Union of Collection and Technology (UTR&T) - along with payment companies Ektec and CredibanCo to offer a contactless payment system for public transport. The system enables consumers to buy journey tickets from payment terminals using contactless debit and credit cards, mobile wallets, and NFC-enabled smart devices.
• The emergence of digital-only banks will further drive electronic payments in Colombia. In June 2022, on-demand delivery platform Rappi, in partnership with Banco Davivienda, launched a digital bank in the country through its exiting mobile app, RappiPay. In Colombia, RappiPay already had 800,000 users and issued nearly 200,000 credit cards. Targeting the high unbanked population, Argentine financial technology company Ualá launched its digital-only bank in Colombia in February 2022. The bank offers a Mastercard-branded debit card to account holders. Similarly, targeting small and medium-sized enterprises (SMEs), digital-only bank Plurall launched its service in the country in February 2022. The bank offers a Visa-branded debit card to account holders, who can opt for a virtual card, a physical card, or both.
• To benefit from the growing market, new ecommerce platforms are launching in Colombia. In June 2022, ecommerce platform Pada launched its operations in the country. Additionally, the growing market has encouraged international retailers to launch online stores in Colombia. H&M launched its online store in Colombia in March 2022.

Reasons to Buy

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

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