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The Cards and Payments Industry in Colombia: Emerging Trends and Opportunities to 2020

The Cards and Payments Industry in Colombia: Emerging Trends and Opportunities to 2020

Summary

GlobalData’s The Cards and Payments Industry in Colombia: Emerging Trends and Opportunities to 2020, report provides detailed analysis of market trends in the Colombian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including direct debits, check payments, payment cards and cash transactions during the review period (2012-2016).

The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, and transaction values and volumes during the review period and over the forecast period (2016-2020). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.

The report brings together GlobalData’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in the regulatory structure.

To widen the scope of contactless payments in Colombia, Mastercard collaborated with Bancolombia and transport operators - including Recaudo Bogota, Metro de Medellin and SmartTaxi - in February 2015, to allow cardholders to access public transportation on these networks using their cards. This collaboration enables Colombians to make contactless payment for transportation fare directly with their Bancolombia Mastercard at Integrated Public Transit Systems (SITP) in places like Bogota, Mío in Cali, TransMetro in Barranquilla and the Medellin Metro.

Alternative payments are gradually gaining prominence in Colombia, with banks and payment solution providers launching services. The latest of these is the launch of the BBVA Wallet by BBVA Colombia in September 2016. Similarly, Group Aval and Bancolombia launched their Aval Pay and Bancolombia wallet respectively in September 2015. Similarly, the Colombia-based payment solution provider Paymenetz launched its mobile app, Plazez, in association with Mastercard in July 2015.

To enhance the card acceptance from foreign tourists in Colombia, payment service providers are offering personalized payment solutions. RBM Redeban, Colombia’s leading electronic payment processing company, and Planet Payment, a provider of international and multi-currency payment processing services, entered into an agreement in July 2016 to establish a dynamic currency conversion service named Pay in Your Currency. Pay in Your Currency provides international customers with the choice to pay in their local currency. Customers are given the convenience of selecting on their receipt whether they prefer to pay in Colombian pesos or their own, while the merchant continues to receive settlements in pesos.

This report also provides top-level market analysis, information and insights into the Colombian cards and payments industry, including -

  • Current and forecast values for each market in the Colombian cards and payments industry, including debit and credit cards.
  • Detailed insights into payment instruments including direct debit, cash transactions, checks and payment cards. It also, includes an overview of the country's key alternative payment instruments.
  • E-commerce market analysis and payment methods.
  • Analysis of various market drivers and regulations governing the Colombian cards and payments industry.
  • Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.
  • Comprehensive analysis of consumer attitudes and buying preferences for cards.
  • The competitive landscape in the Colombian cards and payments industry.
Scope
  • This report provides a comprehensive analysis of the Colombian cards and payments industry.
  • It provides current values for the Colombian cards and payments industry for 2016, and forecast figures to 2020.
  • It details the different demographic, economic, infrastructural and business drivers affecting the Colombian cards and payments industry.
  • It outlines the current regulatory framework in the industry.
  • It details marketing strategies used by various banks and other institutions.
Reasons to buy
  • Make strategic business decisions, using top-level historic and forecast market data, related to the Colombian cards and payments industry and each market within it.
  • Understand the key market trends and growth opportunities in the Colombian cards and payments industry.
  • Assess the competitive dynamics in the Colombian cards and payments industry.
  • Gain insights into marketing strategies used for various card types in Colombia.
  • Gain insights into key regulations governing the Colombian cards and payments industry.


  • Executive Summary
    • Market overview
    • Key facts
      • Table Colombia, Key Facts, 2016
      • Table Colombia, Regional Benchmarking of Payment Cards, 2016
    • Top five industry events
  • Payment Instruments
    • Current payment environment
      • Table Figure 1: Colombia, Payment Instrument Shares by Transaction Value (%), 2012 vs 2016
      • Table Figure 2: Colombia, Payment Instrument Shares by Transaction Volume (%), 2012 vs 2016
  • E-Commerce and Alternative Payments
    • E-Commerce market analysis
      • Table Figure 3: Colombia, E-Commerce Value
    • Alternative payment solutions
      • BBVA Wallet
      • Aval Pay
      • Bancolombia wallet
      • Plazez
      • Visa Checkout
  • Regulations in the Cards and Payments Industry
    • Regulatory framework
      • Regulation governing electronic payments
    • Anti-money laundering
    • Foreign direct investment regulations
      • Table Colombia, Mode of Entry of Foreign Banks
  • Analysis of Cards and Payments Industry Drivers
    • Table Figure 4: Colombia, Population and Economic Indicators
    • Table Figure 5: Colombia, ATMs, POS Terminals and Household Consumption
  • Payment Cards
    • Table Figure 6: Colombia, Payment Cards Transaction Value and Cards in Circulation, 2012-2020
  • Debit Cards
    • Debit cards market analysis
      • Table Figure 7: Colombia, Debit Card Penetration and Turnover Per Card
    • Competition in the debit cards market
      • Table Figure 8: Colombia, Debit Cards Scheme and Issuer Transaction Value Share, 2016
    • Debit cards comparison
      • Table Colombia, Debit Cards Comparison and Key Features, 2017
  • Pay Later Cards
    • Pay later cards market analysis
      • Table Figure 9: Colombia, Pay Later Card Penetration and Turnover Per Card
    • Competition in the pay later cards market
      • Table Figure 10: Colombia, Pay Later Cards Scheme and Issuer Transaction Value Share, 2016
    • Pay later cards comparison
      • Table Colombia, Gold Credit Cards Comparison and Key Features, 2017
      • Table Colombia, Premium Credit Cards Comparison and Key Features, 2017
  • Prepaid Cards
    • Table Figure 11: Colombia, Prepaid Cards in Circulation and Transaction Value, 2012-2020
  • Appendix
    • Abbreviations and acronyms
    • Supplementary data
      • Table Colombia, Payment Instrument Transaction Values (COP Trillion), 2012-2016
      • Table Colombia, Payment Instrument Transaction Values (US$ Billion), 2012-2016
      • Table Colombia, Payment Instrument Transaction Volumes (Million), 2012-2016
      • Table Colombia, Payment Cards in Circulation by Type (Million), 2012-2020
      • Table Colombia, Volume of Payment Card Transactions (Million), 2012-2020
      • Table Colombia, Value of Payment Card Transactions (COP Trillion), 2012-2020
      • Table Colombia, Value of Payment Card Transactions (US$ Billion), 2012-2020
      • Table Colombia, Debit Cards in Circulation (Million), 2012-2020
      • Table Colombia, Debit Card Transaction Volumes, 2012-2020
      • Table Colombia, Debit Card Transaction Values (COP), 2012-2020
      • Table Colombia, Debit Card Transaction Values (US$), 2012-2020
      • Table Colombia, Debit Cards in Circulation by Scheme (Million), 2012-2016
      • Table Colombia, Debit Card Transaction Values by Scheme (COP Trillion), 2012-2016
      • Table Colombia, Debit Card Transaction Values by Scheme (US$ Billion), 2012-2016
      • Table Colombia, Debit Card Transaction Values by Issuer (COP Trillion), 2012-2016
      • Table Colombia, Debit Card Transaction Values by Issuer (US$ Billion), 2012-2016
      • Table Colombia, Pay Later Cards in Circulation (Million), 2012-2020
      • Table Colombia, Pay Later Card Transaction Volumes, 2012-2020
      • Table Colombia, Pay Later Card Transaction Values (COP), 2012-2020
      • Table Colombia, Pay Later Card Transaction Values (US$), 2012-2020
      • Table Colombia, Pay Later Cards in Circulation by Scheme (Thousand), 2012-2016
      • Table Colombia, Pay Later Card Transaction Values by Scheme (COP Trillion), 2012-2016
      • Table Colombia, Pay Later Card Transaction Values by Scheme (US$ Billion), 2012-2016
      • Table Colombia, Pay Later Card Transaction Values by Issuer (COP Trillion), 2012-2016
      • Table Colombia, Pay Later Card Transaction Values by Issuer (US$ Billion), 2012-2016
      • Table Colombia, Prepaid Cards in Circulation (Million), 2012-2020
      • Table Colombia, Prepaid Card Transaction Values (COP Billion), 2012-2020
      • Table Colombia, Prepaid Card Transaction Values (US$ Million), 2012-2020
    • Definitions
      • Table Definitions of Commonly Used Terms
    • Common payment card features
      • Table Common Features of Payment Cards
    • Methodology
    • Bibliography
    • Further reading

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