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

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

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

Summary

GlobalData’s 'The Cards and Payments Industry in Venezuela: Emerging Trends and Opportunities to 2020' report provides detailed analysis of market trends in the Venezuelan cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including credit transfers, checks, payment cards and direct debits 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, 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.

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

  • Current and forecast values for each market in the Venezuelan cards and payments industry, including debit and credit cards.
  • Detailed insights into payment instruments including credit transfers, checks, payment cards and direct debits.
  • E-commerce market analysis.
  • Analysis of various market drivers and regulations governing the Venezuelan 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 Venezuelan cards and payments industry.
Key Highlights
  • To reduce dependence on cash and promote electronic payments, the Venezuelan government imposed a regulation that capped daily cash withdrawals at ATMs in 2016. According to the policy, individuals can only use their own bank’s ATMs, and carry out a maximum of four transactions daily to withdraw a maximum of US$1,002.5 (VEF10,000).
  • Similarly, to enhance use of electronic payments, in December 2016 the government introduced a two percentage-point discount on VAT on products and services purchased using payment cards, bringing the VAT rate down from 12% to 10%. The discount only applies to transactions above US$20,050.6 (VEF200,000).
  • Amid the growing financial turmoil and hyperinflation in the country, virtual currency bitcoin is gradually gaining acceptance in Venezuela. According to Venezuelan brokerage website Surbitcoin.com, the number of users increased from 450 in August 2014 to 85,000 in November 2016. To capitalize on its rising popularity, Venezuela-based startup Cryptobuyer partnered with Visa in September 2016 to offer free bitcoin debit cards. Users can send bitcoin payments to friends and family in other countries without the involvement of intermediaries. The card can also be used to make ATM cash withdrawals and payments at POS terminals in Venezuela.
Scope
  • This report provides a comprehensive analysis of the Venezuelan cards and payments industry.
  • It provides current values for the Venezuelan cards and payments industry for 2016, and forecast figures to 2020.
  • It details the different demographic, economic, infrastructural and business drivers affecting the Venezuelan 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 Venezuelan cards and payments industry and each market within it.
  • Understand the key market trends and growth opportunities in the Venezuelan cards and payments industry.
  • Assess the competitive dynamics in the Venezuelan cards and payments industry.
  • Gain insights into marketing strategies used for various card types in Venezuela.
  • Gain insights into key regulations governing the Venezuelan cards and payments industry.


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

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