Peru Cards and Payments: Opportunities and Risks to 2028

Peru Cards and Payments: Opportunities and Risks to 2028 Summary GlobalData’s ‘Peru Cards and Payments: Opportunities and Risks to 2028' report provides top-level market analysis, information and insights into the Peruvian cards and payments industry, including - - Current and forecast values for each market in the Peruvian cards and payments industry, including debit and credit cards. - Detailed insights into payment instruments including cash, credit transfers, cards, direct debits 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 the Peruvian 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 the Peruvian cards and payments industry. GlobalData’s ‘Peru Cards and Payments: Opportunities and Risks to 2028' report provides detailed analysis of market trends in Peru cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, credit transfers, cards, direct debits and cheques during the review-period (2020-24e). 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 (2024e-28f). 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. Key Highlights - In an effort to streamline business operations and potentially increase card usage in Peru, BBVA and its startup, Openpay, collaborated to launch a comprehensive payment solutions platform in March 2023. This platform offers four key solutions: Smart POS, Openpay Mini, payment link, and payment gateway. These solutions enable businesses of all sizes, both online and offline, to accept payments through regular POS, mobile POS, payment links, and on the web. By integrating electronic payments into daily business operations, this initiative is expected to boost card usage in Peru. - The adoption of contactless payments is on the rise in Peru, particularly in the public transportation sector. In November 2023, Lima's local association of public transit operators, AEMUS, introduced open-loop payments for its network of buses. This collaboration with Littlepay, a transit payments processing specialist, allows riders to pay for their rides using a contactless card or a digital wallet. - Peru is also making strides in financial inclusion by distributing debit cards to recipients of social programs. Banco de la Nación, in co-ordination with the Ministry of Development and Social Inclusion (MIDIS), delivered debit cards to almost 30,000 beneficiaries of the Pension 65 program in April 2024. This initiative aims to promote financial inclusion among the elderly and enable them to receive social security benefits on their debit cards. By providing secure and faster access to benefits, this initiative contributes to increased debit card use and financial inclusion for vulnerable populations. Scope - Card market size in terms of number of cards, value and volume of transactions in Peru along with detailed card segmentation of debit and credit cards available in the country. - Market sizing and analysis of major payment instruments including cash, credit transfers, cards, direct debits and cheques. - Payment market trends and growth for both historical and forecast period. - Competitor analysis with detailed insights into leading card issuers and schemes. - Comprehensive analysis of consumer attitudes and buying preferences for cards. - A detailed snapshot of country's key alternative payment brands. Reasons to Buy - Make strategic business decisions, using top-level historic and forecast market data, related to Peru cards and payments industry and each market within it. - Understand the key market trends and growth opportunities in Peru cards and payments industry. - Assess the competitive dynamics in Peru cards and payments industry. - Gain insights into marketing strategies used for various card types in Peru. - Gain insights into key regulations governing the cards and payments industry.