Peru Cards and Payments - Opportunities and Risks to 2027

Peru Cards and Payments - Opportunities and Risks to 2027
Summary

GlobalData’s ‘Peru Cards and Payments - Opportunities and Risks to 2027' report provides detailed analysis of market trends in the Peruvian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, credit transfer, cards, direct debits and cheques during the review-period (2019-23e).

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 (2023e-27). 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.

This 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, credit and charge cards.
Detailed insights into payment instruments including cash, credit transfer, 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.

ScopeThe emergence of digital-only banks will help boost debit card adoption. Digital-only RappiBank was launched in Peru in February 2021. It was developed by Rappi in collaboration with Interbank. RappiBank offers a savings account that can be opened digitally via the Rappi mobile app. Account holders are also offered a Visa debit card with benefits including cashback of up to 30% on purchases until September 2023. Meanwhile, in May 2023, payment company Credicorp launched digital-only bank iO in Peru. The bank offers products including a digital Visa credit card.To capitalize on the growing opportunity in Peru’s ecommerce space, new players are entering the country. In August 2022, Chilean ecommerce platform Falabella.com launched in Peru, while Spanish jewelry brand TOUS launched its online shopping platform in Peru in September 2022. This trend has continued into 2023, with Nike introducing an ecommerce platform in Peru in February and domestic retailer PC Factory launching online sales in August.Amid geopolitical uncertainty and economic slowdown, banks are targeting less risky consumer segments to drive credit card adoption and usage. Targeting high-income customers, Scotiabank launched the Visa-branded Beyond metal credit card in April 2023. The card includes benefits such as an insurance package, access to 1,100 international airport lounges, discounts, and reward points. New card holders receive a signup bonus of 12,000 Scotia Points.Reasons to BuyMake strategic business decisions, using top-level historic and forecast market data, related to the Peruvian cards and payments industry and each market within it.Understand the key market trends and growth opportunities in the Peruvian cards and payments industry.Assess the competitive dynamics in the Peruvian cards and payments industry.Gain insights into marketing strategies used for various card types in Peru.Gain insights into key regulations governing the Peruvian cards and payments industry.