High Internet & Mobile Penetration in Peru is Expected to Increase Growth in The Card and Payments Market

The research report provides in depth analysis and insights into the Peru Cards and Payments Market and competitive landscape (card issuers in the country) for both debit cards and credit cards. The study includes 3 years historical market size and 6 years market forecast in terms of number of cards, value and volume of transactions processed through these cards, and other key metrics. The report also provides information on the key industry trends, major schemes, banks and detailed segmentation of card and payment industry. The research report is a new offering from the company’s Financial Services domain, and leveraged from the company’s existing cards and payments database of 50+ countries.

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In terms of number of cards in circulation, the Peru payment cards market grew at a CAGR of 7.6% during the period 2012-2014 and it is expected to grow further over the forecast period. In 2012, Peru’s GDP per capita was USD 6,325, which is likely to increase further over the period 2015–2020, to reach USD 6,882 in 2020. This increase is expected to increase the cards usage over the forecast period. Also Peru’s population grew steadily from 30.4 million in 2012 to 31.4 million in 2014, and is expected to reach 34.4 million by 2020. The increase in population is expected to encourage card spending over the forecast period.

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Some of the key players in the debit cards market include Banco de Crédito del Perú, BBVA Continental Scotiabank, Midbanco, Banco Financiero and Banco Falabella Peru. Banco de Crédito del Perú was the leading bank in terms of the number of debit cards in 2014. Some of the key players in the credit card market of Peru include Banco Falabella Peru, Banco de Crédito del Perú, Interbank, BBVA Continental and Scotiabank. In the credit card segment, Banco Falabella Peru was the leading bank in 2014, in terms of number of credit cards in circulation.
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