Market Research Report
Payments Landscape in Venezuela: Opportunities and Risks to 2021
|Published by||GlobalData||Product code||667062|
|Published||Content info||37 Pages
Delivery time: 1-2 business days
|Payments Landscape in Venezuela: Opportunities and Risks to 2021|
|Published: July 20, 2018||Content info: 37 Pages||
Venezuelangovernment in September 2017 introduced VAT rate reductions of 3% and 5% on products and services purchased using electronic modes of payment such as payment cards, in order to reduce dependence on cash in the country and increase electronic payments.Furthermore, all major banks in Venezuela have introduced their own mobile apps enabling individuals to conduct fund transfers electronically.
To prevent consumers from having to handle large volumes of cash and to tackle the cash shortage in the country in January 2018 the government introduced a mobile app called BilleteraMovil. The app enables individuals to pay for subsidized food products purchased from local supply and production committees using their Carnet de la Patria (identification card). Venezuelan citizens can download the app and register using their ID number or by scanning the QR code on their identification card.
The report "Payments Landscape in Venezuela: Opportunities and Risks to 2021", 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, cards, cheques, and direct debit during the review-period (2013-17e).
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 (2017-21f). It also offers information on the country's competitive landscape, including the 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 details of regulatory policy and recent changes in the regulatory structure.
Companies Mentioned: BanescoBanco Universal, Banco de Venezuela, BBVA Provincial, MercantilBanco Universal, BancoFondoComun, Banco Occidental de Descuento, Mastercard, Visa.
This report provides top-level market analysis, information and insights into the Venezuelan cards and payments industry, including -