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Chile Country Report

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  • Published Date: June 2020

A comprehensive overview of the cards, payments and consumer banking market in Chile, with clearsighted commentary backed by relevant data. With the number of POS terminals having more than doubled in the latter half of the decade just ended and four in ten card present transactions now contactless, card spend is set to overtake cash at the point of sale. In almost every dimension change is well underway: the merchant acquiring market was opened to competition in 2017, while CuentaRUT has surpassed 60 percent market share of debit cards in issue and significantly expanded banking reach. Even before the pandemic, e-commerce turnover had doubled between 2016 and 2019.

What you will learn from this report:

  • Why the Chilean POS is exceptional in the region
  • How profitability differs for bank-issuers and retailer-issuers
  • Which innovations have been transformative
  • How acquiring has been reinvented
  • What new regulations have meant for prepaid


  • Sound economic policies, maintained consistently over nearly four decades, have positioned Chile as one of the most stable and prosperous nations in Latin America.
  • Electronic payments have been gaining ground over cash and cheque payments, rising to half of the value of consumer payments.
  • Regulatory changes introduced three years ago have been making the acquiring and open-loop prepaid card businesses more efficient, far reaching and competitive.
  • Chile is one of the few Latin American markets where contactless payments are widespread.
  • E-commerce is growing rapidly in 2020 as consumers shift their shopping online in response to the pandemic lockdown.
  • CuentaRUT, BancoEstado's basic bank account, has dramatically increased financial inclusion and debit card ownership since its introduction in 2007.
  • Retailers have historically enjoyed a strong influence in the credit cards market. Several banks have acquired retailer card portfolios to grow their own cards business.
  • Until December 2017, Transbank, a processing company owned by major banks, was the sole payment cards acquirer in Chile.
  • Competitors to Transbank are emerging, with both domestic banks and international processors entering the market.

Chile Payments Research | Report Contents

Key Topics
Demographics and the economy
Payments environment
Cards market
Mobile payments
Profit pool
The networks
Key retail banks and issuers
Acquiring and processing
Online acquiring
Regulatory and other cards market information

Appendices: Card Payments Data

Appendix I: Demographics and the economy

  • Demographic and economic indicators
  • Ownership of key consumer devices
  • Internet usage by population

Appendix II: Payments environment

  • Access points
  • Account penetration
  • Consumer payment trends
  • B2C e-commerce payment methods

Appendix III: Cards market

  • Total cards payment metrics
  • Contactless cards metrics
  • Credit card numbers
  • Total credit cards metrics
  • Credit cards profitability indicators
  • Debit cards numbers
  • Debit cards metrics
  • Prepaid/e-money cards metrics

Appendix IV: Mobile payments

  • Mobile proximity payment metrics
  • Mobile P2P payments

Appendix V: Profit pool

  • Profit pool

Appendix VI: The card networks

  • Networks' credit card market shares
  • Networks' credit card numbers
  • Networks' credit card billed volume
  • Networks' number of credit card transactions
  • Networks' average credit card transaction value
  • Credit card interchange fees by network
  • Networks' debit card market shares
  • Networks' debit card numbers
  • Networks' debit card billed volume
  • Networks' number of debit card transactions
  • Networks' average debit card transaction value
  • Debit card interchange fees by network (signature debit cards: exempt)
  • Debit card interchange fees by network (signature and PIN debit cards: regulated)

Appendix VII: Key retail banks and issuers

  • Key credit card issuers market shares by credit card numbers
  • Key issuers market shares in credit card outstandings
  • Key debit card issuers market shares by debit card numbers
  • Key private label card issuers market shares by credit card numbers

Appendix VIII: Acquiring and processing

  • Merchant acquirer credit card market share
  • Credit card merchant service charges
  • Merchant acquirer debit card market share
  • Debit card merchant service charges
  • Credit card issuer/issuing processor relationships
  • Credit card acquirer/acquiring processor relationships
  • Credit card issuing processor market shares by card numbers
  • Credit card acquiring processor market shares by the number of POS transactions

Appendix IX: Online acquiring

  • Online merchant acquirer market share

Chile Payments Trends | Entities Referenced

American Airlines American Express Apple Pay Banco Consorcio Banco de Chile Banco de Crédito e Inversiones Banco Falabella Banco Itaú CorpBanca Banco Ripley Banco SudAmericano BancoEstado BankBoston BBVA BCI CajaVecina Car Casa Ximena Citi Citibank Cocha Cofisa Compraquí Coopeuch CorpBanca CuentaRUT Delta Diners Club Divesa Enjoy Evo Payments Falabella Hites Iberia Itaú Krealo La Polar LATAM Lider Linio Magna Mastercard Multicaja Netflix Nexus PagoRUT Presto Redbanc Redcompra Ripley Samsung Pay Santander Scotiabank Security Sodimac Homecenter Spotify SumUp Tottus Transbank Tricard Uber Unicard UnionPay Viajes Falabella Visa Walmart Webpay WhatsApp


Verisk reports deliver invaluable market and competitor intelligence on payments cards, e-money, acquiring/processing, retail banking, and consumer credit in Latin America. Analysts and researchers use both primary and secondary source data and conduct in-depth interviews with Latin American industry executives and experts.

See more Latin America Country Reports or explore the full range of payments research reports available for 72 markets.

To find out more or to discuss subscription options, please email: research_enquiries@verisk.com or telephone: +44(0)20 7337 4200.