Chile Cards and Payments Market: Total Card Market Grew at a CAGR of 8% for the Period 2012 to 2014: P&S Market Research

The research report provides in depth analysis and insights into the Chile Cards and Payments Market including, strategies deployed by banks to market debit and credit cards 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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The card payments market in Chile grew at a healthy pace during the period 2012 – 2014, both in terms of volume and value. The growth of the Chile card payments market will continue in future, driven by the growth of retail sector, increasing market for online and mobile commerce, and new product offerings. Also branchless banking model implemented by banks in Chile is expected to further boost the growth of card-based payments.

In Chile, debit cards dominate the card payments market in terms of number of cards in circulation. The increase in number of debit cards during the period can be attributed to increasing volume of basic bank accounts ‘cuentas a la vista’, as debit cards are offered along with these accounts. Debit card also dominated the Chilean card payments in terms of number of transactions and value of transactions. Debit cards are used by consumers to shop at retail outlets, withdraw cash from ATMs and make online payments. The value of debit card transactions at ATMs remained significantly higher than the value of transactions at POS terminals in 2014. 

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