Untitled

Email ID- contact@jsbmarketresearch.
com
Tel No- 91 2241236650
Published by- http:/www.jsbmarketresearch.com/

JSB Market Research: Venezuela's Cards and
Payments Industry: Emerging Opportunities,
Trends, Size, Drivers, Strategies, Products and
Competitive Landscape
On 10
th
Sept. 2014

Synopsis
The "Venezuela's Cards and Payments Industry: Emerging Opportunities,
Trends, Size, Drivers, Strategies, Products and Competitive Landscape" report
provides top-level market analysis, information and insights into Venezuelas
cards and payments industry, including:
Current and forecast values for each category of Venezuelas cards and
payments industry, including debit cards, credit cards and prepaid cards
Comprehensive analysis of the industrys market attractiveness and future
growth areas

Email ID- contact@jsbmarketresearch.com
Tel No- 91 2241236650

Analysis of various market drivers and regulations governing Venezuelas cards
and payments industry
Detailed analysis of the marketing strategies adopted for selling debit, credit
and prepaid cards used by banks and other institutions in the market
Comprehensive analysis of consumer attitudes and buying preferences for
cards
The competitive landscape of Venezuelas cards and payments industry

Executive summary

Venezuela is one of the founding members of Organization of the Petroleum
Exporting Countries (OPEC) and is one of the worlds biggest exporters of crude
oil. The global crisis severely affected the Venezuelan economy, with the GDP
growth contracting to reach -3.20% in 2009. Since early 2013, the country has
faced food shortages, high inflation, and pressures on fixed currency exchange
regulations. In a bid to revive the economy, the government is attempting to
tackle problems in the core areas such the supply of goods, import of food
staples, labor, and international travel. In May 2014, the government increased
minimum wages by 30%, followed by increase in average salary of public
administration workers and civil servants by 43% in July. The anticipated growth
in economy over the forecast period (20142018) will have a positive effect on
the card payments channel.
The Venezuelan card payments channel grew in value and volume terms during
the review period (20092013). The channel grew from 24.7 million cards in
circulation in 2009 to 34.6 million in 2013, at a compound annual growth rate
(CAGR) of 8.77% and is anticipated to further post a CAGR of 6.74% over the
forecast period, to reach 49.1 million in 2018. In terms of transaction value, the
card payments channel grew VEF189.5 billion (US$88.3 billion) in 2009 to
VEF845.3 billion (US$138.2 billion) in 2013, at a review-period CAGR of 45.32%
and is anticipated to post a forecast-period CAGR of 21.50%, to reach to VEF2.5
trillion (US$139 billion) in 2018.
Banks in Venezuela are focusing on offering banking and financial services to
customers residing in urban and rural areas, through low-cost channels such as
internet and mobile banking and self-service terminals. This strategy serves
several purposes: banks are able to reduce branch establishment costs, while
customers benefit from not waiting in long queues, and can also avoid being

Tel No- 91 2241236650

robbed. Consequently, most Venezuelan consumers are open to modern payment
methods.
In terms of transaction value, the debit and credit card categories recorded
respective review-period CAGRs of 50.87% and 27.62%. In 2013, the value of
debit card transactions at POS terminals was marginally greater than at ATMs,
representing 51.8% of the total debit cards transaction value. Similarly, the value
of credit cards transactions at POS terminals was greater than that at ATMs,
representing 95% of the total credit cards transaction value. Increasing use of
debit and credit cards at POS terminals and the growing need for credit among
middle-class families are anticipated to increase card transaction values over the
forecast period.

Scope

This report provides a comprehensive analysis of Venezuelas cards and
payments industry.
It provides current values for Venezuelas cards and payments industry for
2013, and forecast figures for 2018.
It details the different economic, infrastructural and business drivers affecting
Venezuelas cards and payments industry.
It outlines the current regulatory framework in the industry.
It details the marketing strategies used by various banks and other institutions.
It profiles the major banks in Venezuelas cards and payments industry.

Key highlights

The Venezuelan card payments channel grew in value and volume terms during
the review period (20092013). The channel grew from 24.7 million cards in
circulation in 2009 to 34.6 million in 2013, at a compound annual growth rate
(CAGR) of 8.77% and is anticipated to further post a CAGR of 6.74% over the
forecast period, to reach 49.1 million in 2018. In terms of transaction value, the
card payments channel grew VEF189.5 billion (US$88.3 billion) in 2009 to
VEF845.3 billion (US$138.2 billion) in 2013, at a review-period CAGR of 45.32%
and is anticipated to post a forecast-period CAGR of 21.50%, to reach to VEF2.5
trillion (US$139 billion) in 2018.

Tel No- 91 2241236650

Many factors supported the review-period growth, such as an increase in per
capita income, payment infrastructure modernization, growth in retail, e-
commerce and tourism industries. Venezuelas governments decision to offer
social benefits to senior citizens through banks supported the growth of the debit
cards category, while growing demand for credit among middle-income
consumers following the economic crisis benefitted the credit cards category.
Banks in Venezuela are focusing on offering banking and financial services to
customers residing in urban and rural areas, through low-cost channels such as
internet and mobile banking and self-service terminals. This strategy serves
several purposes: banks are able to reduce branch establishment costs, while
customers benefit from not waiting in long queues, and can also avoid being
robbed. Consequently, most Venezuelan consumers are open to modern payment
methods.
In terms of transaction value, the debit and credit card categories recorded
respective review-period CAGRs of 50.87% and 27.62%. In 2013, the value of
debit card transactions at POS terminals was marginally greater than at ATMs,
representing 51.8% of the total debit cards transaction value. Similarly, the value
of credit cards transactions at POS terminals was greater than that at ATMs,
representing 95% of the total credit cards transaction value. Increasing use of
debit and credit cards at POS terminals and the growing need for credit among
middle-class families are anticipated to increase card transaction values over the
forecast period.

Reasons to buy

Make strategic business decisions using top-level historic and forecast market
data related to Venezuelas cards and payments industry and each market within
it.
Understand the key market trends and growth opportunities within Venezuelas
cards and payments industry.
Assess the competitive dynamics in Venezuelas cards and payments industry.
Gain insights in to the marketing strategies used for selling various card types
in Venezuela.
Gain insights into key regulations governing Venezuelas cards and payments
industry.

Tel No- 91 2241236650

Table of Contents:

1 Executive Summary
2 Analysis of Market Environment, Key Trends and Drivers
2.1 Payment Infrastructure and Emerging Technologies
2.1.1 Growing number of ATMs
2.1.2 Growing number of POS terminals
2.1.3 Growing number of EMV cards
2.1.4 Rising internet penetration
2.2 Business Drivers
2.2.1 Growth in the retail industry
2.2.2 Growth in e-commerce
2.3 Economic Drivers
2.3.1 GDP growth
2.3.2 GDP per capita
2.3.3 Inflation
3 Cards and Payments Industry Share Analysis
3.1 Industry Overview
3.1.1 Credit transfers
3.1.2 Check payments

Tel No- 91 2241236650

3.1.3 Cash transactions
3.1.4 Card transactions
3.1.5 Direct debits
4 Regulatory Framework and Card Fraud Statistics
4.1 Regulatory Framework
4.1.1 Law on credit, debit, prepaid, other cards and electronic payment financing
4.1.2 Consumer protection
4.1.3 Anti-money laundering and counter terrorism financing (AML/CTF)
4.1.4 Foreign direct investment (FDI) regulations
4.2 Card Fraud Statistics
4.2.1 Card-not-present fraud
4.2.2 Counterfeit card fraud
4.2.3 Lost or stolen card fraud
4.2.4 Card ID theft
5 Emerging Consumer Attitudes and Trends
5.1 Industry Segmentation and Targeting
5.1.1 Retail segment
5.1.2 Corporate segment
5.2 Travel and Tourism Spending
5.2.1 Outbound tourist trips

Tel No- 91 2241236650

5.2.2 Outbound tourist spending
6 Analysis of Card Payments and Growth Prospects
6.1 Channel Share Analysis by Card Category
6.2 Size of and Forecast for the Card Payments Channel
6.2.1 Analysis by number of cards in circulation
6.2.2 Analysis by transaction value
7 Analysis of Credit Card Payments and Growth Prospects
7.1 Overall Category Size and Forecast
7.1.3 Analysis by transaction volume
7.2 Transaction Share Analysis by Channel
7.3 Personal Credit Cards Segment Size and Forecast
7.4 Commercial Credit Cards Segment Size and Forecast

Tel No- 91 2241236650

7.5 Competitive Landscape
7.5.1 Scheme share analysis
7.5.2 Issuer share analysis
8 Analysis of Debit Card Payments and Growth Prospects
8.2 Transaction Share Analysis by Channel
8.3 Competitive Landscape
8.3.1 Scheme share analysis
8.3.2 Issuer share analysis
9 Analysis of Prepaid Card Payments and Growth Prospects

Tel No- 91 2241236650

10 Merchant Acquiring
11 Company Profiles of Card Issuers
11.1 Banesco Banco Universal, CA (Banesco)
11.1.1 Key financials
11.1.2 Card portfolio
11.1.3 Strategies
11.2 Banco de Venezuela
11.2.2 Strategies
11.3 Banco Mercantil Universal (Mercantil)
11.3.3 Strategies
11.4 BBVA Provincial
11.4.3 Strategies
11.5 Bancaribe

Tel No- 91 2241236650

11.5.3 Strategies
12 Appendix
12.1 Methodology
12.2 Contact Timetric
12.3 About Timetric
12.4 Timetrics Services
12.5 Definitions
12.6 Disclaimer

List of Tables
Table 1: Venezuela Payment Channels (VEF Million), 20092013
Table 2: Venezuela Market-Entry Strategies of Foreign Banks
Table 3: Venezuela Card Fraud Value (VEF Million), 20092013
Table 4: Venezuela Cards for High-Income Customers
Table 5: Venezuela Cards for Students and Young Population
Table 6: Venezuela Cards for Shoppers
Table 7: Venezuela Cards Offered for Corporate Customers
Table 8: Venezuela Card Payments Channel by Card Category (Million), 2009
2018

Tel No- 91 2241236650

Table 9: Venezuela Card Payments Channel Size by Volume of Cards (Million),
20092018
Table 10: Venezuela Card Payments Channel Size by Transaction Value (VEF
Billion), 20092018
Table 11: Venezuela Card Payments Channel Size by Transaction Value (US$
Billion), 20092018
Table 12: Venezuela Credit Cards Category Size by Volume of Cards (Million),
20092018
Table 13: Venezuela Credit Cards Category Size by Transaction Value (VEF
Billion), 20092018
Table 14: Venezuela Credit Cards Category Size by Transaction Value (US$
Billion), 20092018
Table 15: Venezuela Credit Cards Category Size by Transaction Volume
(Million), 20092018
Table 16: Venezuela Personal Credit Cards Segment Size by Volume of Cards
(Million), 20092018
Table 17: Venezuela Personal Credit Cards Segment Size by Transaction Value
(VEF Billion), 20092018
Table 18: Venezuela Personal Credit Cards Segment Size by Transaction Value
(US$ Billion), 20092018
Table 19: Venezuela Personal Credit Cards Segment Size by Transaction
Volume (Million), 20092018
Table 20: Venezuela Commercial Credit Cards Segment Size by Volume of Cards
(Thousand), 20092018
Table 21: Venezuela Commercial Credit Cards Segment Size by Transaction
Value (VEF Billion), 20092018

Tel No- 91 2241236650

Value (US$ Million), 20092018
Table 24: Venezuela Debit Cards Category Size by Volume of Cards (Million),
20092018
Table 25: Venezuela Debit Cards Category Size by Transaction Value (VEF
Billion), 20092018
Table 26: Venezuela Debit Cards Category Size by Transaction Value (US$
Billion), 20092018
Table 27: Venezuela Debit Cards Category Size by Transaction Volume
(Million), 20092018
Table 28: Venezuela Prepaid Cards Category Size by Volume of Cards (Million),
20092018
Table 29: Venezuela Prepaid Cards Category Size by Transaction Value (VEF
Billion), 20092018
Table 30: Venezuela Prepaid Cards Category Size by Transaction Value (US$
Billion), 20092018
Table 31: Banesco Key Financial Indicators (VEF Million), Year Ended
December, 20122013
Table 32: Banesco Card Portfolio and Key Features
Table 33: BDV Card Portfolio and Key Features
Table 34: Mercantil Key Financial Indicators (VEF Million), Year Ended
December, 20122013
Table 35: Mercantil Card Portfolio and Key Features

Tel No- 91 2241236650

Table 36: BBVA Group Key Financial Indicators (EUR Million), Year Ended
December, 20122013
Table 37: BBVA Provincial Card Portfolio and Key Features
Table 38: Bancaribe Key Financial Indicators (VEF Million), Year Ended
December, 20122013
Table 39: Bancaribe Card Portfolio and Key Features
Table 40: Key Definitions

List of Figures
Figure 1: Benchmarking the Venezuelan Card Payment Channel Against Other
Regional Markets
Figure 2: Venezuela Growth of Various Card Categories (%), 20092018
Figure 3: Venezuela ATM Volume and Penetration, 20092018
Figure 4: Venezuela POS Volume and Penetration, 20092018
Figure 5: Venezuela EMV Cards Volume (Thousand), 20102013
Figure 6: Venezuela Internet Penetration (Internet Users per 100 Inhabitants),
20092018
Figure 7: Venezuela Retail Sales Value (VEF Billion), 20092018
Figure 8: Venezuela E-Commerce Value (VEF Billion), 20092013
Figure 9: Venezuela Real GDP Growth (%), 20092018
Figure 10: Venezuela Nominal GDP Per Capita (US$), 20092018

Tel No- 91 2241236650

Figure 11: Venezuela Inflation (Consumer Price Inflation) Rate (%), 20092018
Figure 12: Venezuela Shares of Different Payment Channels (%), 2009 and
2013
Figure 13: Venezuela Shares of Card Fraud Types In Terms of Transaction
Value (%), 2009 and 2013
Figure 14: Venezuela Card-Not-Present Fraud Value (VEF Million), 20092013
Figure 15: Venezuela Counterfeit Card Fraud Value (VEF Million), 20092013
Figure 16: Venezuela Lost or Stolen Card Fraud Value (VEF Million), 2009
2013
Figure 17: Venezuela Card ID Theft Value (VEF Million), 20092013
Figure 18: Venezuela Cards and Payments Industry Segmentation by Card Type
Figure 19: Venezuela Volume of Outbound Tourist Trips (Thousand), 2009
2018
Figure 20: Venezuela Outbound Tourist Spending (VEF Billion), 20092018
Figure 21: Venezuela Card Payments Channel by Card Category (%), 2009
2018
Figure 22: Venezuela Card Payments Channel Size by Volume of Cards
(Million), 20092018
Figure 23: Venezuela Card Payments Channel Size by Transaction Value (VEF
Billion), 20092018
Figure 24: Venezuela Credit Cards Category Volume and Penetration, 2009
2018
Figure 25: Venezuela Credit Cards Category Size by Volume of Cards (Million),
20092018

Tel No- 91 2241236650

Figure 26: Venezuela Credit Cards Category Size by Transaction Value (VEF
Billion), 20092018
Figure 27: Venezuela Credit Cards Category Size by Transaction Volume
(Million), 20092018
Figure 28: Venezuela Credit Cards Category Transaction Value Share Analysis
by Channel (VEF Billion), 20092018
Figure 29: Venezuela Credit Cards Category Transaction Volume Share Analysis
by Channel (Million), 20092018
Figure 30: Venezuela Personal Credit Cards Segment Size by Volume of Cards
(Million), 20092018
Figure 31: Venezuela Personal Credit Cards Segment Size by Transaction Value
(VEF Billion), 20092018
Figure 32: Venezuela Personal Credit Cards Segment Size by Transaction
Figure 33: Venezuela Commercial Credit Cards Segment Size by Volume of
Cards (Thousand), 20092018
Figure 34: Venezuela Commercial Credit Cards Segment Size by Transaction
Value (VEF Billion), 20092018
Figure 35: Venezuela Commercial Credit Cards Segment Size by Transaction
Figure 36: Venezuela Credit Cards Category Share by Scheme in Terms of
Transaction Value (%), 2013
Figure 37: Venezuela Credit Cards Category Share by Issuer in Terms of
Figure 38: Venezuela Debit Cards Category Volume and Penetration, 2009
2018

Tel No- 91 2241236650

Figure 39: Venezuela Debit Cards Category Size by Volume of Cards (Million),
20092018
Figure 40: Venezuela Debit Cards Category Size by Transaction Value (VEF
Billion), 20092018
Figure 41: Venezuela Debit Cards Category Size by Transaction Volume
(Million), 20092018
Figure 42: Venezuela Debit Cards Category Transaction Value Share Analysis by
Channel (VEF Billion), 20092018
Figure 43: Venezuela Debit Cards Category Transaction Volume Share Analysis
by Channel (Million), 20092018
Figure 44: Venezuela Debit Cards Category Share by Scheme in Terms of
Figure 45: Venezuela Debit Cards Category Share by Issuer in Terms of
Figure 46: Venezuela Prepaid Cards Category Volume and Penetration, 2009
2018
Figure 47: Venezuela Prepaid Cards Category Size by Volume of Cards (Million),
20092018
Figure 48: Venezuela Prepaid Cards Category Size by Transaction Value (VEF
Billion), 20092018
Figure 49: Venezuela Share of Merchant Acquirers in Terms of Transaction
Volume at POS Terminals, 2013

Tel No- 91 2241236650

Related reports:
Employee Benefits in Finland

Unsecured Loans to Business in the UK - Key Trends and Opportunities up to 2018
Finance and Banking Market Research

About JSB Market Research:-
JSB market research is a leading player in the market of research report
distribution. It is one-stop-shop for all information related to market research for
any sector of the industry. Along with providing in-depth analysis though
reports, JSB market research also provides regular updates of the market though
newsletters. Our reports are a well-researched work of market researchers with
an extensive knowledge and a good level of market experience.
To know more on Venezuela's Cards and Payments Industry: Emerging
Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive
Landscape
http://www.jsbmarketresearch.com/finance-banking/r-
Venezuelas-Cards-and-Payments-Industry-Emerging-
Opportunities-124382

Untitled

Uploaded by

Document Information

Original Description:

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Untitled

Uploaded by

Copyright:

Available Formats

Email ID- contact@jsbmarketresearch.

You might also like