Emerging Opportunities in Argentina’s Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape

Published: November 2012
No. of Pages: 89
    ReportsandReports

Synopsis

The report provides market analysis, information and insights into Argentina's cards and payments industry, including:

  • Current and forecast values for each category of Argentina's cards and payments industry including debit cards, credit cards, prepaid cards and charge cards
  • Comprehensive analysis of the industry's market attractiveness and future growth areas
  • Analysis of various market drivers and regulations governing Argentina's cards and payments industry
  • Detailed analysis of the marketing strategies adopted for selling various categories of cards such as debit, credit, prepaid and charge cards used by various bankers and other institutions in the market
  • Comprehensive analysis of consumer attitudes and their buying preferences for cards
  • Competitive landscape of Argentina's cards and payments industry

Summary

The Argentinian cards and payments industry registered marginal growth during the review period (2008-2012). Combined card volume recorded a growth rate of 11.5% in 2012 over figures from 2011. The positive economic outlook, a need for more sophisticated products in terms of prepaid and charge cards, the growth of retail commerce and an increased demand for prepaid products supported the overall growth of the industry. During the review period, the size of the cards and payments industry, in terms of volume, increased at a CAGR of 12.84% to reach 57.6 million cards in 2012. In value terms, Argentina's cards and payments industry valued ARS217.5 billion (US$52.8 billion) in 2012. Over the forecast period, card payments are expected to deliver strong growth as consumers increasingly move away from cash transactions. The Argentinian government's continuous implementation of economic policies in 2011 and 2012 enabled strong economic growth. This caused an increase in imports and exports which were up by 31% and 23% respectively in 2011. Foreign investment is heavily encouraged and, currently, around 500 US companies operate in Argentina employing over 155,000 Argentinian workers. Government policies created positive income growth, particularly in vulnerable sectors, leading to the increased adoption of various cards and heightened consumer purchasing power.

Scope

  • This report provides a comprehensive analysis of Argentina's cards and payments industry
  • It provides current values for Argentina's cards and payments industry for 2012 and forecast figures for 2017
  • It details the different macroeconomic, infrastructural, consumer and business drivers affecting Argentina's cards and payments industry
  • It outlines the current regulatory frameworks in the industry
  • It details the marketing strategies used by various bankers and other institutions
  • It profiles the major banks in Argentina's cards and payments industry

Reasons To Buy

  • Make strategic business decisions using historic and forecast market data related to Argentina's cards and payments industry and each market within it
  • Understand the key market trends and growth opportunities within Argentina's cards and payments industry
  • Assess the competitive dynamics in Argentina's cards and payments industry
  • Gain insights into the marketing strategies used for selling various categories of cards in Argentina
  • Gain insights into key regulations governing Argentina's cards and payments industry

Key Highlights

  • In value terms, Argentina's cards and payments industry valued ARS217.5 billion (US$52.8 billion) in 2012. Over the forecast period, card payments are expected to deliver strong growth as consumers increasingly move away from cash transactions.
  • As of 2012, Argentina's cards and payment industry is migrating to PBOC 2.0 standards. Cards will be adopted progressively more with proven security measures and enhanced processing speeds.
  • According to Argentina's Chamber of E-Commerce (CACE), e-commerce is estimated to grow at a rate of 41% in 2012, and is expected to continue throughout the forecast period, which will drive expansion for the cards and payments industry.
  • Argentina's consumers are heavily swayed by associated costs rather than service and convenience, and prefer to use cash when making purchases in order to avoid taxes.
  • Card fraud grew from ARS99.4 million in 2008 to ARS148.3 million in 2012. The major sources of fraud are from POS terminals.
  • Cards and payments penetration in Argentina is very low. Of the total purchases made in 2012, cash accounted for a 43.1% share, while card transactions had a 6.8% share of total purchases.
  • Wealth distribution in Argentina is highly polarized with a 49.36% income share held by just 20% of population.
  • Most banks offer either 5% cash back or a rebate on 5% VAT on retail purchases made by debit cards. Banco Galicia, HSBC and Macro offer this scheme.

Published By: Timetric
Product Code: Timetric2606


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