Venezuela Cards and Payments - Opportunities and Risks to 2025

Venezuela Cards and Payments - Opportunities and Risks to 2025

Summary

GlobalData’s 'Venezuela Cards and Payments - Opportunities and Risks to 2025' 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 cards, credit transfers, direct debits, and cheques during the review-period (2017-21e).

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 (2021e-25f). It also offers information on the country's competitive landscape, including 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 detailed regulatory policies and recent changes in regulatory structure.

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

  • Current and forecast values for each market in Venezuelan cards and payments industry, including debit and credit cards.
  • Detailed insights into payment instruments including cards, credit transfers, direct debits, and cheques. It also, includes an overview of the country's key alternative payment instruments.
  • 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.
Scope
  • The country's hyperinflation has forced the government to adopt digital payment systems. To tackle problems with cash issuance and prevent consumers from having to handle large volumes of cash to conduct purchases, in August 2021 the Venezuelan government introduced a central bank digital currency called the digital bolivar, an SMS-based system for making payments and transfers.
  • Amid growing hyperinflation, cryptocurrency has emerged as one of the measures to handle local currency shortages. In June 2021, Bio Mercados (a supermarket chain in Venezuela) partnered with Cryptobuyer (a cryptocurrency exchange platform based in Panama). Under this partnership, the supermarket chain accepts payments for purchases made via Bitcoin, Dash, Litecoin, Binance Coin, Tron, and Cryptobuyer's own cryptocurrency, XPT.
  • To address the cash shortage and reduce the need to carry large amounts of cash, in December 2018 the Venezuelan government barred the circulation of VEF1,000, VEF2,000, and VEF5,000 notes and replaced them with VEF10,000, VEF20,000, and VEF50,000 notes in June 2019. In a further bid to tackle soaring consumer prices in the country, VEF200,000, VEF500,000, and VEF1m notes were introduced by the government in March 2021.
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.


  • Market Overview
    • Table Venezuela: key facts, 2021e
  • Payment Instruments
  • Card-Based Payments
    • Payment Cards: Market Sizing and Forecasting
    • Debit Cards: Market Sizing and Forecasting
    • Debit Cards: Schemes
    • Debit Cards: Issuers
    • Credit Cards: Market Sizing and Forecasting
    • Credit Cards: Schemes
    • Credit Cards: Issuers
    • Prepaid Cards: Market Sizing and Forecasting
  • Alternative Payments
    • Alternative Payments: Payment Solutions
  • Payment Innovations
  • Payment Infrastructure and Regulation
    • POS Terminals and ATMs
    • Regulatory Environment
  • Appendix
    • Table Venezuela: payment instrument transaction values (VEFtn), 2017–25f
    • Table Venezuela: payment instrument transaction volumes (millions), 2017–25f
    • Table Venezuela: payment cards in circulation by type (millions), 2017–25f
    • Table Venezuela: volume of payment card transactions (millions), 2017–25f
    • Table Venezuela: value of payment card transactions (VEFtn), 2017–25f
    • Table Venezuela: debit cards in circulation (millions), 2017–25f
    • Table Venezuela: debit card transaction volumes, 2017–25f
    • Table Venezuela: debit card transaction values (VEF), 2017–25f
    • Table Venezuela: debit cards in circulation by scheme (millions), 2017–21e
    • Table Venezuela: debit card transaction values by scheme (VEFtn), 2017–21e
    • Table Venezuela: debit cards in circulation by issuer (millions), 2017–21e
    • Table Venezuela: debit card transaction values by issuer (VEFtn), 2017–21e
    • Table Venezuela: credit cards in circulation (millions), 2017–25f
    • Table Venezuela: credit card transaction volumes, 2017–25f
    • Table Venezuela: credit card transaction values (VEF), 2017–25f
    • Table Venezuela: credit cards in circulation by scheme (millions), 2017–21e
    • Table Venezuela: credit card transaction values by scheme (VEFtn), 2017–21e
    • Table Venezuela: credit cards in circulation by issuer (000s), 2017–21e
    • Table Venezuela: credit card transaction values by issuer (VEFbn), 2017–21e
    • Table Venezuela: prepaid cards in circulation (millions), 2017–25f
    • Table Venezuela: prepaid card transaction values (VEFtn), 2017–25f
    • About GlobalData

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook