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"Emerging Opportunities in Mexico's Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape" Published

New Financial Services research report from Timetric is now available from Fast Market Research

 
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Boston, MA -- (SBWIRE) -- 12/13/2012 -- The debit cards category was the prime driver of growth during the review period recording a CAGR of 13.58% between 2008 and 2012. The highest transaction value during the review period was also reported in the debit cards category, with MXN2.6 trillion (US$213.2 billion) in 2012. In the credit card category, the overall transaction value in 2012 was only MXN471.1 billion (US$38.0 billion). Domestic service provider Carnet is expected to transform the cards market in Mexico during the forecast period. Carnet is issued by Prosa, the company formed by top Mexican banks: HSBC Mexico, Grupo Financiero Banorte SAB, Banco Invex, Grupo Financiero Santander SAB, Grupo Scotiabank and Banjercito. These banks are expected to promote Carnet cards as an alternative to foreign scheme providers such as Visa and Prepaid, which are more costly in terms of processing. The expansion of Prosa's ATM network is expected to facilitate their wider use and issuance within Mexico.

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Key Highlights

- The debit cards category was the prime driver of growth during the review period recording a CAGR of 13.58% between 2008 and 2012.
- Domestic service provider Carnet is expected to transform the cards market in Mexico during the forecast period.
- The expansion of Prosa's ATM network is expected to facilitate their wider use and issuance of Carnet cards within Mexico.
- The prepaid cards category exhibits the strongest growth prospects over the forecast period. It is expected to grow at a CAGR of 12.09% over the forecast period, driven by government payroll cards, government welfare or benefit cards, prepaid travel and transport cards, and prepaid gift cards.
- Mexican banks employ low pricing to promote prepaid card products. Most banks charge no annual or card replacement fees, and do not charge for balance inquiries and cash withdrawals at parent-bank ATMs. Fees are typically only charged for overseas use of cards.

Scope

- This report provides a comprehensive analysis of Mexico's cards and payments market
- It provides current values for Mexico's cards and payments market for 2011 and forecast figures for 2016
- It details the different macroeconomic, infrastructural, consumer and business drivers affecting Mexico's cards and payments industry
- It outlines the current regulatory framework in the industry
- It details the marketing strategies used by various bankers and other institutions
- It profiles the major banks in Mexico's cards and payments market

Reasons to Get this Report

- Make strategic business decisions using historic and forecast market data related to Mexico's cards and payments market and each market within it
- Understand the key market trends and growth opportunities within Mexico's cards and payments market
- Assess the competitive dynamics in Mexico's cards and payments market

Companies Mentioned in this Report: HSBC Mexico, JP Morgan, Mexico, Banamex Bank, BBVA Bancomer Bank

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