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Albany, NY -- (SBWIRE) -- 06/08/2017 -- "The Cards and Payments Industry in Argentina: Emerging trends and opportunities to 2020", report provides detailed analysis of market trends in the Argentine cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including credit transfers, cheques, cash, payment cards and direct debit during the review period (2012-2016).
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 (2016-2020). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.
The report brings together GlobalDatas 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.
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The report provides top-level market analysis, information and insights into the Argentine cards and payments industry, including -
- Current and forecast values for each market in the Argentine cards and payments industry, including debit, credit and charge cards.
- Detailed insights into payment instruments including credit transfers, cheques, cash, direct debit and payment cards. It also, includes an overview of the country's key alternative payment instruments.
- E-commerce market analysis.
- Analysis of various market drivers and regulations governing the Argentine cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit, credit and charge cards.
- To improve financial inclusion and increase competition between banks, in 2016 the central bank introduced guidelines for convenient account opening and switching between providers. As per the new guideline, wage accounts can be opened directly by individuals rather than upon request by their employer. Individuals can open and close their accounts and cancel their credit cards through online banking, without the need to visit a bank branch. To increase financial access for citizens, the central bank relaxed the regulatory requirements for opening new bank branches in 2016. In H1 2016, 97 new branches were provided with authorization, an increase of 44 over H2 2015.
- The government move to abolish the tax on credit card payments made in foreign currency in December 2015 is anticipated to drive credit card transactions. In December 2013 the government had increased the tax on all credit card purchases made abroad from 20% to 35%. Consumers were also charged with a 50% tax on online purchases of more than $25 (ARS201.90) from foreign websites. The restrictions on online shopping and use of payment cards abroad was an attempt to control the drop in foreign currency reserves, which fell by 29% in 2013 to $30.9bn (ARS168.7bn), a seven-year low.
- To promote inbound tourism in the country, in September 2016 the Argentine government abolished value added tax (VAT) on hotel charges for foreign travelers if they paid using a debit or credit card issued overseas. Hotels must now refund foreign tourists the VAT charged on hotel stays. This move is anticipated to push up tourist numbers by 120,000 and increase spending by $90m (ARS1.3bn), thereby driving the payment card transaction value and volume.
Reasons to buy
- Make strategic business decisions, using top-level historic and forecast market data, related to the Argentine cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in the Argentine cards and payments industry.
- Assess the competitive dynamics in the Argentine cards and payments industry.
- Gain insights into marketing strategies used for various card types in Argentina.
- Gain insights into key regulations governing the Argentine cards and payments industry.
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