Peru Cards and Payments - Opportunities and Risks to 2026

GlobalData's 'Peru Cards and Payments - Opportunities and Risks to 2026' report provides detailed analysis of market trends in the Peruvian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, credit transfers, cards, direct debits and cheques during the review-period (2018-22e).

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 (2022e-26f). 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.

The report provides top-level market analysis, information and insights into the Peruvian cards and payments industry, including -

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

Scope

• As part of its financial inclusion efforts, in February 2021, the Peruvian government issued a new law for the mandatory creation of a savings bank account (DNI accounts) for all citizens aged 18 years and above with a national identity document. The law empowers government-owned Banco de la Nacion to open these DNI accounts. Subsequently, Banco de la Nacion is gradually opening DNI accounts for eligible citizens. By December 2021, over 2.5 million accounts had been opened; the bank anticipates opening 24 million accounts by the end of 2023. The accounts can be used to receive all government benefits digitally in addition to regular banking activities such as fund transfers, cash withdrawals, and payments for purchases.
• Major merchant acquirers in Peru were following a single-brand acquisition model until 2019, with VisaNet, PMP, Expressnet, and Diners Club offering exclusive acquiring agreements for Visa, Mastercard, American Express, and Diners Club respectively. However, the market has now shifted to a multi-brand acquisition model. Following an agreement with Mastercard in December 2019, VisaNet enabled Mastercard acceptance across its network starting from January 15, 2020. In February 2020, VisaNet was rebranded as Niubiz, and the company gradually enabled the acceptance of American Express, Diners Club, and Discover cards on its network. Meanwhile, in January 2020, PMP enabled the acceptance of Visa cards on its network and migrated its operations to its payments subsidiary Izipay. In addition to Visa and Mastercard, Izipay also supports American Express and Diners Club cards. The multi-brand acquisition model has reduced acceptance costs and promoted POS adoption among smaller merchants, which in turn has supported payment card market growth.
• Alternative payments are gaining prominence in Peru, with rising adoption of mobile-based payment solutions. In March 2022, Apple Pay was launched in Peru. The solution enables users to make contactless payments by adding their card details to any Apple device. Meanwhile, PLIN is a mobile based instant payment solution launched by BBVA, Interbank, and Scotiabank in collaboration with payment solutions provider YellowPepper in May 2020. PLIN enables users to make instant transfers to recipients' bank accounts using their mobile phone number and make instant payments by scanning a QR code.

Reasons to Buy

This report provides top-level market analysis, information and insights into the Peruvian cards and payments industry, including -

• Make strategic business decisions, using top-level historic and forecast market data, related to the Peruvian cards and payments industry and each market within it.
• Understand the key market trends and growth opportunities in the Peruvian cards and payments industry.
• Assess the competitive dynamics in the Peruvian cards and payments industry.
• Gain insights into marketing strategies used for various card types in Peru.
• Gain insights into key regulations governing the Peruvian cards and payments industry.