Chile Cards and Payments: Opportunities and Risks to 2028

The ‘Chile Cards and Payments: Opportunities and Risks to 2028' report provides top-level market analysis, information and insights into the Chilean cards and payments industry, including :

• Current and forecast values for each market in the Chilean cards and payments industry, including debit and credit cards.
• Detailed insights into payment instruments including cards, cash, credit transfers, 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 Chilean 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 Chilean cards and payments industry.

The ‘Chile Cards and Payments: Opportunities and Risks to 2028' report provides detailed analysis of market trends in the Chilean cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cards, cash, credit transfers, 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 the analyst’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

• Contactless payment options are growing in popularity, driven by the availability of contactless payments for public transport. In October 2023, BiPay (a provider of payment solutions for transport payments), Mastercard, and the Ministry of Transport and Telecommunications partnered to enable contactless payments via payment cards and digital wallets for public transport in the city of Chillan. This initiative went live in December 2023.
• QR codes are increasingly being used in Chile for cash withdrawals and money transfers. In October 2022, Chilean interbank network Redbanc launched RedGiro QR, which enables cash withdrawals from ATMs by scanning a QR code from the corresponding bank app without a physical card. Users can initiate a transfer through their bank’s mobile app by selecting the RedGiro QR option, choosing the source and recipient accounts, and specifying the amount. A QR code is then generated, which can be scanned at any Redbanc ATM to complete the transaction. The service is initially available to Banco de Chile and Scotiabank customers; it will be extended to other financial institutions in the future.
• Apple Pay launched in Chile in August 2023. The solution allows consumers to make in-store, in-app, and online payments using their Apple devices. Users need to add their payment card details to the Apple Wallet app to make online payments at partner websites as well as contactless payments at partner merchants. Apple Pay purchases offer a range of authentication methods, including biometrics, passwords, and unique security codes. As of June 2024, Apple Pay is supported by 10 banks and providers: Banco BICE, Banco de Chile, Banco Edwards, Banco Falabella, Banco de Credito e Inversiones (Bci), Cencosud, Itau, RappiCard, Santander, and Scotia.

Scope

• Card market size in terms of number of cards, value and volume of transactions in Chile along with detailed card segmentation of debit and credit cards available in the country.
• Market sizing and analysis of major payment instruments including cards, cash, credit transfers, 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 the Chilean cards and payments industry and each market within it.
• Understand the key market trends and growth opportunities in the Chilean cards and payments industry.
• Assess the competitive dynamics in the Chilean cards and payments industry.
• Gain insights into marketing strategies used for various card types in Chile.
• Gain insights into key regulations governing the Chilean cards and payments industry.