The Cards and Payments Industry in Venezuela: Emerging Trends and Opportunities to 2020

  • ID: 4188690
  • Report
  • Region: Venezuela
  • 46 pages
  • GlobalData
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FEATURED COMPANIES

  • Bancaribe
  • Banco de Venezuela
  • Banco Fondo Comun
  • Banco Nacional de Credito
  • Banesco Banco Universal
  • BBVA Provincial
  • MORE
The Cards and Payments Industry in Venezuela: Emerging Trends and Opportunities to 2020

Summary

The 'The Cards and Payments Industry in Venezuela: Emerging Trends and Opportunities to 2020' report provides detailed analysis of market trends in the Venezuelan cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including credit transfers, checks, payment cards and direct debits during the review period (2012-2016).

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 (2016-2020). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.

The report brings together the author’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in the regulatory structure.

The report also provides top-level market analysis, information and insights into the Venezuelan cards and payments industry, including:
- Current and forecast values for each market in the Venezuelan cards and payments industry, including debit and credit cards.
- Detailed insights into payment instruments including credit transfers, checks, payment cards and direct debits.
- E-commerce market analysis.
- Analysis of various market drivers and regulations governing the Venezuelan 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 in the Venezuelan cards and payments industry.

Key Highlights

- To reduce dependence on cash and promote electronic payments, the Venezuelan government imposed a regulation that capped daily cash withdrawals at ATMs in 2016. According to the policy, individuals can only use their own bank’s ATMs, and carry out a maximum of four transactions daily to withdraw a maximum of US$1,002.5 (VEF10,000).
- Similarly, to enhance use of electronic payments, in December 2016 the government introduced a two percentage-point discount on VAT on products and services purchased using payment cards, bringing the VAT rate down from 12% to 10%. The discount only applies to transactions above US$20,050.6 (VEF200,000).
- Amid the growing financial turmoil and hyperinflation in the country, virtual currency bitcoin is gradually gaining acceptance in Venezuela. According to Venezuelan brokerage website Surbitcoin.com, the number of users increased from 450 in August 2014 to 85,000 in November 2016. To capitalize on its rising popularity, Venezuela-based startup Cryptobuyer partnered with Visa in September 2016 to offer free bitcoin debit cards. Users can send bitcoin payments to friends and family in other countries without the involvement of intermediaries. The card can also be used to make ATM cash withdrawals and payments at POS terminals in Venezuela.

Scope

- This report provides a comprehensive analysis of the Venezuelan cards and payments industry.
- It provides current values for the Venezuelan cards and payments industry for 2016, and forecast figures to 2020.
- It details the different demographic, economic, infrastructural and business drivers affecting the Venezuelan 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 buy

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

  • Bancaribe
  • Banco de Venezuela
  • Banco Fondo Comun
  • Banco Nacional de Credito
  • Banesco Banco Universal
  • BBVA Provincial
  • MORE
1. EXECUTIVE SUMMARY
1.1. Market overview
1.2. Key facts
1.3. Top five industry events
2. PAYMENT INSTRUMENTS
2.1. Current payment environment
3. E-COMMERCE AND ALTERNATIVE PAYMENTS
3.1. E-commerce market analysis
4. REGULATIONS IN THE CARDS AND PAYMENTS INDUSTRY
4.1. Regulatory framework
4.2. Anti-money laundering and counter terrorism financing (AML/CTF)
4.3. Foreign direct investment (FDI) regulations
5. ANALYSIS OF CARDS AND PAYMENTS INDUSTRY DRIVERS
6. PAYMENT CARDS
7. DEBIT CARDS
7.1. Debit cards market analysis
7.2. Competition in the debit cards market
7.3. Debit cards comparison
8. PAY LATER CARDS
8.1. Pay later cards market analysis
8.2. Competition in the pay later cards market
8.3. Pay later cards comparison
9. PREPAID CARDS
10. APPENDIX
10.1. Abbreviations
10.2. Supplementary data
10.3. Definitions
10.4. Common payment card features
10.5. Methodology

List of Tables

Table 1: Venezuela, Key Facts, 2016
Table 2: Venezuela, Regional Benchmarking of Payment Cards, 2016
Table 3: Venezuela, Mode of Entry of Foreign Banks
Table 4: Venezuela, Debit Cards Comparison and Key Features, 2017
Table 5: Venezuela, Gold Credit Cards Comparison and Key Features, 2017
Table 6: Venezuela, Premium Credit Cards Comparison and Key Features, 2017
Table 7: Venezuela, Payment Instrument Transaction Values (VEF Billion), 2012-2016
Table 8: Venezuela, Payment Instrument Transaction Values (US$ Billion), 2012-2016
Table 9: Venezuela, Payment Instrument Transaction Volumes (Million), 2012-2016
Table 10: Venezuela, Payment Cards in Circulation by Type (Million), 2012-2020
Table 11: Venezuela, Volume of Payment Card Transactions (Million), 2012-2020
Table 12: Venezuela, Value of Payment Card Transactions (VEF Billion), 2012-2020
Table 13: Venezuela, Value of Payment Card Transactions (US$ Billion), 2012-2020
Table 14: Venezuela, Debit Cards in Circulation (Million), 2012-2020
Table 15: Venezuela, Debit Card Transaction Volumes, 2012-2020
Table 16: Venezuela, Debit Card Transaction Values (VEF), 2012-2020
Table 17: Venezuela, Debit Card Transaction Values (US$), 2012-2020
Table 18: Venezuela, Debit Cards in Circulation by Scheme (Million), 2012-2016
Table 19: Venezuela, Debit Card Transaction Values by Scheme (VEF Billion), 2012-2016
Table 20: Venezuela, Debit Card Transaction Values by Scheme (US$ Billion), 2012-2016
Table 21: Venezuela, Debit Card Transaction Values by Issuer (VEF Billion), 2012-2016
Table 22: Venezuela, Debit Card Transaction Values by Issuer (US$ Billion), 2012-2016
Table 23: Venezuela, Pay Later Cards in Circulation (Million), 2012-2020
Table 24: Venezuela, Pay Later Card Transaction Volumes, 2012-2020
Table 25: Venezuela, Pay Later Card Transaction Values (VEF), 2012-2020
Table 26: Venezuela, Pay Later Card Transaction Values (US$), 2012-2020
Table 27: Venezuela, Pay Later Cards in Circulation by Scheme (Thousand), 2012-2016
Table 28: Venezuela, Pay Later Card Transaction Values by Scheme (VEF Billion), 2012-2016
Table 29: Venezuela, Pay Later Card Transaction Values by Scheme (US$ Billion), 2012-2016
Table 30: Venezuela, Pay Later Card Transaction Values by Issuer (VEF Billion), 2012-2016
Table 31: Venezuela, Pay Later Card Transaction Values by Issuer (US$ Billion), 2012-2016
Table 32: Venezuela, Prepaid Cards in Circulation (Million), 2012-2020
Table 33: Venezuela, Prepaid Card Transaction Values (VEF Billion), 2012-2020
Table 34: Venezuela, Prepaid Card Transaction Values (US$ Billion), 2012-2020
Table 35: Definitions of Commonly Used Terms
Table 36: Common Features of Payment Cards

List of Figures

Figure 1: Venezuela, Payment Instrument Shares by Transaction Value (%), 2012 vs 2016
Figure 2: Venezuela, Payment Instrument Shares by Transaction Volume (%), 2012 vs 2016
Figure 3: Venezuela, E-Commerce Value
Figure 4: Venezuela, Population and Economic Indicator
Figure 5: Venezuela, ATMs, POS Terminals and Household Consumption
Figure 6: Venezuela, Payment Cards Transaction Value and Cards in Circulation, 2012-2020
Figure 7: Venezuela, Debit Card Penetration and Turnover Per Card
Figure 8: Venezuela, Debit Cards Scheme and Issuer Transaction Value Share, 2016
Figure 9: Venezuela, Pay Later Card Penetration and Turnover Per Card
Figure 10: Venezuela, Pay Later Cards Scheme and Issuer Transaction Value Share, 2016
Figure 11: Venezuela, Prepaid Cards in Circulation and Transaction Value, 2012-2020
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  • Banco de Venezuela
  • Banesco Banco Universal
  • Bancaribe
  • Banco Nacional de Credito
  • Mercantil Banco Universal
  • BBVA Provincial
  • Banco Fondo Comun
  • Banco Occidental de Descuento
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