Chile Cards and Payments - Opportunities and Risks to 2027

Abstract

GlobalData's 'Chile Cards and Payments - Opportunities and Risks to 2027' 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 (2019-23e).

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 (2023e-27). It also offers information on the country's competitive landscape, including 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 detailed regulatory policies and recent changes in regulatory structure.

This 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.

Scope

• In February 2022, the government introduced the Interchange Rates Law to regulate interchange fees and promote payment card acceptance at merchants. A committee was formed to implement interchange fees. Under the new rules, interchange fees for debit, credit, and prepaid cards are capped at 0.6%, 1.48%, and 1.04% respectively. The interchange fee limit will be reviewed every three years. Previously, the interchange fee was not regulated by the government, instead being determined by card brands.
• The government is taking various steps to push ecommerce adoption among SMEs. In December 2021 it launched Digitalize Kit: a platform that allows businesses to access digital tools at a low cost. Businesses receive discounts of up to 70% on various tools across digital marketing, ecommerce, shipments and dispatches, payment methods, connectivity, and cybersecurity. The rise in ecommerce activities will further drive electronic payments growth in the country.
• QR code-based payments are gaining prominence in Chile, with the concept being rolled out on public transport networks. In 2022, BancoEstado collaborated with the Ministry of Transport and Telecommunications to introduce a QR code ticketing service for Santiago Metro buses and the MetroTren system. This allows commuters to pay transport fares by scanning a QR code at the payment terminal.

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.