Colombia Cards & Payments: Opportunities and Risks to 2023
GlobalDatas 'Colombia Cards & Payments: Opportunities and Risks to 2023' report provides detailed analysis of market trends in Colombia's cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cards, cash, direct debits, and cheques during the review-period (2015-19e).
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 (2019e-23f). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.
The report brings together GlobalDatas 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.
GlobalDatas 'Colombia Cards & Payments: Opportunities and Risks to 2023' report provides top-level market analysis, information and insights into Colombia's cards and payments industry, including -
- Current and forecast values for each market in Colombia's cards and payments industry, including debit and credit cards.
- Detailed insights into payment instruments including direct debits, cash, cheques, and cards. It also, includes an overview of the country's key alternative payment instruments.
- E-commerce market analysis.
- Analysis of various market drivers and regulations governing Colombia's cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.
- Contactless technology will gradually gain traction in Colombia, with major banks now offering cards and wearables with contactless functionality. In February 2019, Bancolombia launched a payment sticker allowing users to make contactless payments of up to COP300,000 ($92.38) without needing to enter a PIN. As of March 2018 there were more than 4 million contactless cards in the country. Contactless payments have also been extended to public transport payments across major cities such as Bogot, Cali, Medelln, Barranquilla, Pereira, and Bucaramanga since 2015.
- To encourage card payment acceptance among businesses, effective from January 2019 the Colombian government reduced the merchant service fee on debit and credit cards. The fee was cut from 1.1% to 1.0% for debit cards and from 2.35% to 2.15% for credit cards. The government plans to further reduce the fee on debit cards to 0.9% in 2020 and 0.8% in 2021. Credit cards will be cut to 2% in 2020 and 1.8% in 2021.
- The government is aiming to drive uptake and usage of banking products. To this end, in April 2019 it proposed eliminating management fees on savings accounts, credit and debit cards, as well as other transactions including checking balances at ATMs, withdrawals from same-bank ATMs, transfers, and online interbank transfers. Discussions on this matter are underway in parliament.
Reasons to buy
- Make strategic business decisions, using top-level historic and forecast market data, related to Colombia's cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in Colombia's cards and payments industry.
- Assess the competitive dynamics in Colombia's cards and payments industry.
- Gain insights into marketing strategies used for various card types in Colombia.
- Gain insights into key regulations governing Colombia's cards and payments industry.
Payments Infrastructure & Regulation
Ask for discount before buying this report
Please fill the enquiry form below.
For Enquiries, Call :
+1-800-998-4852US Toll Free
Email : email@example.com