Fast Market Research

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

New Financial Services market report from Timetric: "Mexico's Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape"

 
Repost This

Boston, MA -- (SBWIRE) -- 01/20/2014 -- The debit cards category was the prime growth driver of the Mexican card payments channel during the review period (2008?2012), and recorded a CAGR of 13.15% in terms of the volume of cards in circulation. The debit cards category posted the highest transaction value and valued MXN2.6 trillion (US$199.7 billion) in 2012. Within the credit card category, the overall transaction value reached MXN467.2 billion (US$35.4 billion) in 2012.
The prepaid cards category is expected to exhibit strong growth prospects over the forecast period (2013?2017) and post a CAGR of 5.69% in terms of the volume of cards in circulation. This will be driven by government payroll cards, government welfare (benefit cards), prepaid transport cards and prepaid gift cards. In association with mobile services operator Rev Worldwide, domestic bank Banorte launched a general-purpose reloadable card, MiFon. This is expected to support the prepaid cards category over the forecast period. Rather than purchasing products through credit, the Mexican population tends to base their expenditure on their income value, which is expected to increase the scope for prepaid cards as customers are able to define an upper limit on spending.

View Full Report Details and Table of Contents

Key Highlights

- The debit cards category was the prime growth driver of the Mexican card payments channel during the review period (2008?2012), and recorded a CAGR of 13.15% in terms of the volume of cards in circulation. The debit cards category posted the highest transaction value and valued MXN2.6 trillion (US$199.7 billion) in 2012. Within the credit card category, the overall transaction value reached MXN467.2 billion (US$35.4 billion) in 2012.
- The prepaid card category has growth prospects. The closed-loop prepaid cards segment is expected to grow at a forecast-period CAGR of 7.84%. General-purpose reloadable prepaid cards are popular and are issued by banks such as Banamex, Walmart and Azteca. There is also potential to expand prepaid gift and government payroll cards.
- Mexico's unbanked population offers the industry growth potential. As of 2012, nearly 70% of the population was unbanked, and nearly 54% of municipalities lack access to at least one bank or microfinance institution. Banks have, therefore, taken initiatives to roll out prepaid cards to the unbanked population. Cards can also be obtained from an agent and Banorte Bank, in association with the US-based prepaid card program manager Rev Worldwide, is offering MiFon, a MasterCard-branded general-purpose reloadable prepaid card for unbanked individuals.

Companies Mentioned in this Report: BBVA Bancomer, Banco Regional de Monterrey S.A., Banco Nacional de Mexico, HSBC Mexico SA, Grupo Financiero Inbursa, SAB de CV, MasterCard, Visa,

About Fast Market Research
Fast Market Research is an online aggregator and 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 will 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:

- Poland's Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape
- Emerging Opportunities in Austria's Cards and Payments Industry: Market Size, Trends and 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
- India's Cards and Payments Industry: Emerging Opportunities, Trends, Size, 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
- Emerging Opportunities in Russia's Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape
- Emerging Opportunities in Singapore's Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape
- Australia's Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape