Fast Market Research

Argentina's Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape - New Market Report

Fast Market Research recommends "Argentina's Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape" from Timetric, now available

 
Repost This

Boston, MA -- (SBWIRE) -- 02/17/2014 -- 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.

View Full Report Details and Table of Contents

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.

Companies Mentioned in this Report: Banco de la Nacion Argentina, Banco de Galicia y Buenos Aires SA, Banco Macro SA, Banco Santander Rio SA, Banco Patagonia, MasterCard, Visa,

About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

Browse all Financial Services research reports at Fast Market Research

You may also be interested in these related reports:

- Emerging Opportunities in Austria's Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape
- Poland's Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape
- Germany's Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape
- Emerging Opportunities in the US Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape
- China's Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape
- India's Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape
- Emerging Opportunities in Russia's Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape
- Canada's Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape
- Indonesia's Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape
- Australia's Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape