A comprehensive overview of the cards, payments and consumer banking market in Peru.
Demographics and the economy
Key retail banks and issuers
Acquiring and processing
Regulatory and other cards market information
Appendices: Card Payments Data
Appendix I: Demographics and the economy
Appendix II: Payments environment
Appendix III: Cards market
Appendix IV: Mobile payments
Appendix V: Profit pool
Appendix VI: Card networks
Appendix VII: Key retail banks and issuers
Appendix VIII: Acquiring and processing
Appendix IX: Online acquiring
Demographics and Economy:
Inflation, long a bugbear of Latin American nations, has been tamed in Peru: it averaged 2.9% per annum from 2013 to 2018. Average inflation is forecast to decrease from 2019 to 2022. The country has become a bastion of stability in a troubled continent.
Peru is an emerging economy that remains dominated by cash. Half of all adults do not have an account at a formal financial institution, while only around 43 of adults have a debit card.
Peru is an emerging cards market that is full of potential. Cards usage is relatively low, but growing strongly, as is card ownership, while consumers have begun to embrace e-commerce.
Pagos Digitales Peruanos (Peruvian Digital Payments) is the company responsible for Modelo Peru and its digital wallet, BIM, which operates with a simplified e-money account managed by any financial institution selected by the customer.
Peru is a profitable market, with the estimated total industry-wide profit in 2019 coming to $387 million, which was broadly unchanged from a year previously.
Visa and Mastercard dominate the market with an estimated 89% of all credit cards in issue at the end of 2019 and 90% in terms of billed volume. Visa and Mastercard are the only two networks operating in the Peruvian debit cards market.
Key Retail Banks and Issuers:
Banco Falabella Peru was the leading credit card issuer at the end of 2019, while Banco Credito del Peru was the leading issuer by credit card outstandings and by the number of debit cards. Other key issuers include Scotiabank Peru and its subsidiary Financiera Crediscotia, Banco Ripley, Interbank and BBVA Peru.
Acquiring and Processing:
In what marks a significant new departure for the Peruvian payments ecosystem, in addition to market pressure as the various stakeholders wished to increase volumes, exclusivity arrangements came to an end in January 2020.
B2C e-commerce billed volumes grew by about 426% between 2013 and 2019. As of December 2019, online acquired billed volume represented an estimated 10% of Peru's total payment card acquired billed volume during 2019.
Regulatory and Markets Information:
It is estimated that approximately half of Peruvian adults had access to banking services at the end of 2019, creating a strong opportunity for consumer credit and microcredit business.
Atlantic Security Holding Corporation
Banco Central de Reserva del Perú
Banco de Comercio
Banco de Credito de Bolivia
Banco de Credito del Peru
Banco de Credito e Inversiones
Banco de la Nación
Banco del Trabajo
Banco Interamericano de Finanzas
Banco Internacional del Peru
Banco Pichincha Perú
Banco Wiese Sudameris
BBVA Banco Continental
Caja CAT Perú
Cámara de Compensación Electrónica
El Pacífico-Peruano Suiza Compañía de Seguros y Reaseguros
Pagos Digitales Peruanos
Superintendencia de Banca, Seguros y
Tarjeta La Mágica
UNO Financiera Uno
Verisk reports deliver invaluable market and competitor intelligence on payments cards, e-money, acquiring/processing, retail banking, and consumer credit in Latin America. Our analysts and researchers use both primary and secondary source data and conduct in-depth interviews with senior Peruvian industry executives and experts.
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