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Financial Cards and Payments in Peru

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    Report

  • 48 Pages
  • January 2025
  • Region: Peru
  • Euromonitor International
  • ID: 5701517
Financial cards and payments continued to grow in Peru in 2024, due to several factors. One of the most influential factors is the improvement of the Peruvian economy, which is helping to boost consumption in general, thanks to the growth in national production, with inflation levels within the target range, and the greater possibilities of obtaining work. Little by little, these factors are helping to improve the incomes of the population, who are thus encouraged to increase their consumption.

The Financial Cards and Payments in Peru report establishes the size and structure of the market for ATMs cards, smart cards, credit cards, debit cards, charge cards, pre-paid cards and store cards. It looks at key players in the market (issuers and operators), number of cards in circulation, numbers transactions and value of transactions. It offers strategic analysis of sector forecasts and trends to watch.

Product coverage: Financial Cards in Circulation, Mobile Payments, Transactions.

Data coverage: Market sizes (historic and forecasts), company shares, brand shares and distribution data.

Why buy this report?

  • Get a detailed picture of the Financial Cards and Payments market;
  • Pinpoint growth sectors and identify factors driving change;
  • Understand the competitive environment, the market’s major players and leading brands;
  • Use five-year forecasts to assess how the market is predicted to develop.

Table of Contents

EXECUTIVE SUMMARY
  • Financial cards and payments in 2024: The big picture
  • 2024 key trends
  • Credit card late payment has increased due to economic difficulties experienced in the 2023 recession and high interest rates
  • Competitive landscape
  • What next for financial cards and payments?
MARKET INDICATORS
  • Table 1 Number of POS Terminals: Units 2019-2024
  • Table 2 Number of ATMs: Units 2019-2024
  • Table 3 Value Lost to Fraud 2019-2024
  • Table 4 Card Expenditure by Location 2024
  • Table 5 Financial Cards in Circulation by Type: % Number of Cards 2019-2024
  • Table 6 Domestic versus Foreign Spend 2024
MARKET DATA
  • Table 7 Financial Cards by Category: Number of Cards in Circulation 2019-2024
  • Table 8 Financial Cards by Category: Number of Accounts 2019-2024
  • Table 9 Financial Cards Transactions by Category: Value 2019-2024
  • Table 10 Financial Cards by Category: Number of Transactions 2019-2024
  • Table 11 Consumer Payments by Category: Value 2019-2024
  • Table 12 Consumer Payments by Category: Number of Transactions 2019-2024
  • Table 13 M-Commerce by Category: Value 2019-2024
  • Table 14 M-Commerce by Category: % Value Growth 2019-2024
  • Table 15 Financial Cards: Number of Cards by Issuer 2019-2023
  • Table 16 Financial Cards: Number of Cards by Operator 2019-2023
  • Table 17 Financial Cards: Card Payment Transactions Value by Operator 2019-2023
  • Table 18 Financial Cards: Card Payment Transactions Value by Issuer 2019-2023
  • Table 19 Forecast Financial Cards by Category: Number of Cards in Circulation 2024-2029
  • Table 20 Forecast Financial Cards by Category: Number of Accounts 2024-2029
  • Table 21 Forecast Financial Cards Transactions by Category: Value 2024-2029
  • Table 22 Forecast Financial Cards by Category: Number of Transactions 2024-2029
  • Table 23 Forecast Consumer Payments by Category: Value 2024-2029
  • Table 24 Forecast Consumer Payments by Category: Number of Transactions 2024-2029
  • Table 25 Forecast M-Commerce by Category: Value 2024-2029
  • Table 26 Forecast M-Commerce by Category: % Value Growth 2024-2029
DISCLAIMER
SOURCES
  • Summary 1 Research Sources
DEBIT CARDS IN PERUKEY DATA FINDINGS
2024 DEVELOPMENTS
  • Debit card usage continues to grow, thanks to improving economy and greater acceptance by users and businesses
  • Rapid implementation of NFC and TTP technology is helping to boost the use of debit cards in payment processes
  • Financial institutions continue to show dynamism regarding debit cards, promoting access to their virtual platforms
PROSPECTS AND OPPORTUNITIES
  • Debit card usage will continue to grow, while digital wallets also rise in popularity
  • Developments in technology will continue and expand with more points of sale
  • Ongoing efforts made to combat fraud and provide greater security in the use of debit cards
CATEGORY DATA
  • Table 27 Debit Cards: Number of Cards in Circulation 2019-2024
  • Table 28 Debit Cards Transactions 2019-2024
  • Table 29 Debit Cards in Circulation: % Growth 2019-2024
  • Table 30 Debit Cards Transactions: % Growth 2019-2024
  • Table 31 Debit Cards: Number of Cards by Issuer 2019-2023
  • Table 32 Debit Cards: Number of Cards by Operator 2019-2023
  • Table 33 Debit Cards Payment Transaction Value by Issuer 2019-2023
  • Table 34 Debit Cards Payment Transaction Value by Operator 2019-2023
  • Table 35 Forecast Debit Cards: Number of Cards in Circulation 2024-2029
  • Table 36 Forecast Debit Cards Transactions 2024-2029
  • Table 37 Forecast Debit Cards in Circulation: % Growth 2024-2029
  • Table 38 Forecast Debit Cards Transactions: % Growth 2024-2029
CREDIT CARDS IN PERUKEY DATA FINDINGS
2024 DEVELOPMENTS
  • Credit cards face ongoing competition from other payment methods, with high interest rates also remaining a deterrent
  • Rate of credit card default continues to increase, reducing struggling consumers’ access to new lines of credit and personal loans
  • High competition continues among financial institutions, with a focus on promoting the greater use of credit cards and exclusive banking
PROSPECTS AND OPPORTUNITIES
  • Credit card usage will remain positive, thanks to an improving economy and possible decrease in interest rates
  • Incorporation of Municipal Savings Banks into the credit card market stimulates competition
  • Fintechs and electronic wallets contribute to developments in credit cards
CATEGORY DATA
  • Table 39 Credit Cards: Number of Cards in Circulation 2019-2024
  • Table 40 Credit Cards Transactions 2019-2024
  • Table 41 Credit Cards in Circulation: % Growth 2019-2024
  • Table 42 Credit Cards Transactions: % Growth 2019-2024
  • Table 43 Commercial Credit Cards: Number of Cards in Circulation 2019-2024
  • Table 44 Commercial Credit Cards Transactions 2019-2024
  • Table 45 Commercial Credit Cards in Circulation: % Growth 2019-2024
  • Table 46 Commercial Credit Cards Transactions: % Growth 2019-2024
  • Table 47 Personal Credit Cards: Number of Cards in Circulation 2019-2024
  • Table 48 Personal Credit Cards Transactions 2019-2024
  • Table 49 Personal Credit Cards in Circulation: % Growth 2019-2024
  • Table 50 Personal Credit Cards Transactions: % Growth 2019-2024
  • Table 51 Credit Cards: Number of Cards by Issuer 2019-2023
  • Table 52 Credit Cards: Number of Cards by Operator 2019-2023
  • Table 53 Credit Cards Payment Transaction Value by Issuer 2019-2023
  • Table 54 Credit Cards Payment Transaction Value by Operator 2019-2023
  • Table 55 Commercial Credit Cards: Number of Cards by Issuer 2019-2023
  • Table 56 Commercial Credit Cards: Number of Cards by Operator 2019-2023
  • Table 57 Commercial Credit Cards Payment Transaction Value by Issuer 2019-2023
  • Table 58 Commercial Credit Cards Payment Transaction Value by Operator 2019-2023
  • Table 59 Personal Credit Cards: Number of Cards by Issuer 2019-2023
  • Table 60 Personal Credit Cards: Number of Cards by Operator 2019-2023
  • Table 61 Personal Credit Cards Payment Transaction Value by Issuer 2019-2023
  • Table 62 Personal Credit Cards Payment Transaction Value by Operator 2019-2023
  • Table 63 Forecast Credit Cards: Number of Cards in Circulation 2024-2029
  • Table 64 Forecast Credit Cards Transactions 2024-2029
  • Table 65 Forecast Credit Cards in Circulation: % Growth 2024-2029
  • Table 66 Forecast Credit Cards Transactions: % Growth 2024-2029
  • Table 67 Forecast Commercial Credit Cards: Number of Cards in Circulation 2024-2029
  • Table 68 Forecast Commercial Credit Cards Transactions 2024-2029
  • Table 69 Forecast Commercial Credit Cards in Circulation: % Growth 2024-2029
  • Table 70 Forecast Commercial Credit Cards Transactions: % Growth 2024-2029
  • Table 71 Forecast Personal Credit Cards: Number of Cards in Circulation 2024-2029
  • Table 72 Forecast Personal Credit Cards Transactions 2024-2029
  • Table 73 Forecast Personal Credit Cards in Circulation: % Growth 2024-2029
  • Table 74 Forecast Personal Credit Cards Transactions: % Growth 2024-2029
PRE-PAID CARDS IN PERUKEY DATA FINDINGS
2024 DEVELOPMENTS
  • Pre-paid cards maintain healthy growth, thanks to increased demand from users who value their benefits
  • Closed loop pre-paid cards benefit from public transport cards and a greater number of recharge points
  • Open loop pre-paid cards benefit from a widening range of uses and ease of access to unbanked consumers
PROSPECTS AND OPPORTUNITIES
  • Pre-paid cards will maintain growth, thanks to ongoing demand
  • Launch of a new single pre-paid card for urban transport services will further support usage of closed loop cards
  • Use of gift cards could contribute to the growth of closed loop pre-paid cards, thanks to the launch of Dollarcity gift cards in its expansion strategy in Peru
CATEGORY DATA
  • Table 75 Pre-paid Cards: Number of Cards in Circulation 2019-2024
  • Table 76 Pre-paid Cards Transactions 2019-2024
  • Table 77 Pre-paid Cards in Circulation: % Growth 2019-2024
  • Table 78 Pre-paid Cards Transactions: % Growth 2019-2024
  • Table 79 Closed Loop Pre-paid Cards Transactions 2019-2024
  • Table 80 Closed Loop Pre-paid Cards Transactions: % Growth 2019-2024
  • Table 81 Open Loop Pre-paid Cards Transactions 2019-2024
  • Table 82 Open Loop Pre-paid Cards Transactions: % Growth 2019-2024
  • Table 83 Pre-paid Cards: Number of Cards by Issuer 2019-2023
  • Table 84 Pre-paid Cards: Number of Cards by Operator 2019-2023
  • Table 85 Pre-paid Cards Transaction Value by Issuer 2019-2023
  • Table 86 Pre-paid Cards Transaction Value by Operator 2019-2023
  • Table 87 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2019-2023
  • Table 88 Closed Loop Pre-paid Cards: Number of Cards by Operator 2019-2023
  • Table 89 Closed Loop Pre-paid Cards Transaction Value by Issuer 2019-2023
  • Table 90 Closed Loop Pre-paid Cards Transaction Value by Operator 2019-2023
  • Table 91 Open Loop Pre-paid Cards: Number of Cards by Issuer 2019-2023
  • Table 92 Open Loop Pre-paid Cards: Number of Cards by Operator 2019-2023
  • Table 93 Open Loop Pre-paid Cards Transaction Value by Issuer 2019-2023
  • Table 94 Open Loop Pre-paid Cards Transaction Value by Operator 2019-2023
  • Table 95 Forecast Pre-paid Cards: Number of Cards in Circulation 2024-2029
  • Table 96 Forecast Pre-paid Cards Transactions 2024-2029
  • Table 97 Forecast Pre-paid Cards in Circulation: % Growth 2024-2029
  • Table 98 Forecast Pre-paid Cards Transactions: % Growth 2024-2029
  • Table 99 Forecast Closed Loop Pre-paid Cards Transactions 2024-2029
  • Table 100 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2024-2029
  • Table 101 Forecast Open Loop Pre-paid Cards Transactions 2024-2029
  • Table 102 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2024-2029
STORE CARDS IN PERUKEY DATA FINDINGS
2024 DEVELOPMENTS
  • Traditional store cards being phased out, as they are transformed into Visa or Mastercard credit cards
  • Stores focus their strategy on commercial efforts, while promoting credit cards under their brand
  • Store credit cards play an important role in online sales, which are widely promoted and highlight advantages
PROSPECTS AND OPPORTUNITIES
  • Store cards will become extinct in favour of the new credit card versions
  • Store-branded credit cards will continue to have a significant presence in online sales of these stores
  • Store-branded credit cards will continue to have higher interest rates than bank credit cards, but with other benefits in stores
CATEGORY DATA
  • Table 103 Store Cards: Number of Cards in Circulation 2019-2024
  • Table 104 Store Cards Transactions 2019-2024
  • Table 105 Store Cards in Circulation: % Growth 2019-2024
  • Table 106 Store Cards Transactions: % Growth 2019-2024
  • Table 107 Store Cards: Number of Cards by Issuer 2019-2023
  • Table 108 Store Cards: Payment Transaction Value by Issuer 2019-2023
  • Table 109 Forecast Store Cards: Number of Cards in Circulation 2024-2029
  • Table 110 Forecast Store Cards Transactions 2024-2029
  • Table 111 Forecast Store Cards in Circulation: % Growth 2024-2029
  • Table 112 Forecast Store Cards Transactions: % Growth 2024-2029