Argentina's Cards and Payments Market 2014 Demand, Key Trends, Growth and Forecast to 2017

Deerfield Beach, FL -- (SBWire) -- 10/26/2015 --Synopsis

Current and forecast values for each category of Argentina's cards and payments industry, including debit cards, credit cards and prepaid 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 debit, credit and prepaid cards used by various bankers and other institutions in the market
Comprehensive analysis of consumer attitude and their buying preferences for cards
The competitive landscape of Argentina's cards and payments industry

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Executive summary

The Argentinian card payments channel grew both in volume and value terms during the review period. In terms of volume, the card payments channel grew at a CAGR of 14.51% from 35.0 million cards in 2008 to 60.2 million in 2012. Growth is anticipated to continue at a forecast-period CAGR of 6.27% to reach 86.5 million cards in circulation by 2017.
In terms of card volume, credit cards accounted for a 46.4% share in 2012, followed by debit cards with 45.1%. In terms of value, the card payments channel grew from ARS265.4 billion (US$84.4 billion) in 2008 to ARS561.6 billion (US$123.8 billion) in 2012, at a CAGR of 20.61%. The channel is expected to reach ARS839.2 billion (US$102.3 billion) in 2017, representative of a forecast-period CAGR of 7.03%. Growth in the channel is expected to be driven by an increasing demand for charge cards and credit cards, a better regulatory framework, an increasing e-commerce market and a positive economic outlook.

The implementation of improved security measures and advanced technology has changed the dynamics of the cards and payments industry in Argentina. EMV is a chip-based technology superior to magnetic strip based cards in terms of security and transaction speed. EMV technology supported by NFC-enabled contactless payment systems will significantly reduce the processing speed of transactions, saving time and money for customers and retailers.

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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 economic, infrastructural and business drivers affecting Argentina's cards and payments industry.
It outlines the current regulatory framework in the industry.
It details the marketing strategies used by various banks and other institutions.
It profiles the major banks in Argentina's cards and payments industry.

Key highlights

- The Argentinian card payments channel registered marginal growth during the review period (2008–2012). The number of cards in circulation recorded a review-period CAGR of 14.51%, supported by a positive economic outlook, a need for more sophisticated products in terms of prepaid and charge cards, the growth of retail commerce and increased demand for prepaid products.

- During the review period, the size of the card payments channel, in terms of volume, increased at a CAGR of 14.51% to reach 60.2 million cards in 2012. In value terms, the Argentinian card payments channel grew from ARS265.4 billion (US$84.4 billion) in 2008 to ARS561.6 billion (US$123.8 billion) in 2012. Over the forecast period (2013–2017), card payments are expected to deliver strong growth as consumers increasingly move away from cash transactions.

- Competition in the cards and payments industry has forced issuers to employ effective promotional strategies. Card transaction discounts and benefits, which create consumer satisfaction and increased customer loyalty, are available. Benefits include complementary insurance, interest-free credit, overseas medical and legal assistance, and information on transactions through e-statements. Many banks have competitive interest rates on credit cards with deferred interest. Also available is a 5% VAT rebate on purchases made with certain cards.

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