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Paraguay Country Report

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  • Published Date: April 2016

A comprehensive overview of the cards, payments and consumer banking market in Paraguay.

PARAGUAY CARDS & PAYMENTS REPORT | KEY FACTS

  • Paraguay's economy has experienced robust growth in recent years, supported mainly by strong agricultural and meat exports.
  • However, growth slowed down to an estimated 3.0 per cent in 2015 due to difficult regional conditions caused by the local currency's depreciation against the US dollar and lower agricultural commodity prices.
  • This positive economic growth has resulted in significant benefits for Paraguayans over the period 2009-15, including a 70.9 per cent increase in median salary and a low unemployment rate.
  • Paraguay's banking system is regulated by the Central Bank of Paraguay (BCP) through the Banking Superintendence (SIB) and is composed of 14 banks, 12 financieras and over 900 cooperatives focused on microfinance.
  • Consumer indebtedness remains low in Paraguay with an average debt per household of just over $1,000 in 2015.
  • A cap on credit card APRs which came into force in October 2015 has radically altered the economics of Paraguay's credit cards industry.
  • With average APRs falling by two-thirds, revenue has been reduced, forcing issuers to cancel popular discount and instalment offerings.
  • As a result, the number of credit cards billed volume and outstandings all fell sharply in the final quarter of 2015.
  • There are ten credit card and seven debit card networks operating in Paraguay, making it one of the most competitive markets in the region.
  • Banco Itau Paraguay is by far the largest credit card issuer with the remainder of the market being relatively fragmented.

Paraguay Payments Research | Report Contents

Demographics and Economy:
Outlines the key metrics and trends which influence the development of retail banking and payments in the country:

  • Population structure
  • Income
  • Mobile and internet use
  • Economic data

Retail Banking:
Explores the structure of the local banking system, its infrastructure and the leading players. Data includes:

  • Aggregate retail banking indicators
  • Bank branch, ATMs and POS terminals
  • The profitability of top banks

Consumer Finance:
Overview of consumer finance in the country. Categories analysed include:

  • Mortgage loans
  • Personal loans
  • Credit card loans
  • Vehicle loans

Credit Cards:
Industry-leading credit card coverage. We detail the past present and future of the industry through our credit card data and commentary, including:

  • Market size split by consumer and commercial credit cards: number of cards, transaction volume, billed volume
  • Profit pool analysis
  • Competitive landscape: networks, issuers

Debit Cards:

  • Market size: number of cards, transaction volume, billed volume
  • Competitive landscape: networks, issuers

Prepaid Cards:

  • Market size: number of cards, transaction volume, billed volume

MORE LATIN AMERICA CARDS & PAYMENTS REPORTS

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.

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