Just Published: "The Cards and Payments Industry in Peru: Emerging Trends and Opportunities to 2020"
Fast Market Research recommends "The Cards and Payments Industry in Peru: Emerging Trends and Opportunities to 2020" from Timetric, now available
[ClickPress, Thu Jun 30 2016] Timetric's 'The Cards and Payments Industry in Peru: Emerging Trends and Opportunities to 2020' report provides top-level market analysis, information and insights into the Peruvian cards and payments industry, including:
* Current and forecast values for each market in the Peruvian cards and payments industry, including debit and credit cards.
* Detailed insights into payment instruments including credit transfers, direct debits, checks and payment cards. It also, includes an overview of the country's key alternative payment instruments.
* E-commerce market analysis.
* Analysis of various market drivers and regulations governing the Peruvian 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 Peruvian cards and payments industry.
Full Report Details at
* The government of Peru developed the National Financial Inclusion Strategy (NFIS) in July 2015. It aims to provide access to financial accounts for at least 50% of the adult population by 2018, and 75% of the adult population by 2021. The strategy promotes access to savings, insurance and financing, consumer protection, financial education programs and the use of electronic payment instruments. A rise in bank penetration is expected to drive demand for products such as bank accounts and debit cards.
* In line with government's financial inclusion program, the national mobile payments system Modelo Peru launched Bim mobile money, a fully interoperable payments platform, in February 2016. Through this, Modelo Peru aims to provide much of the unbanked population with access to digital financial services. It enables Peruvians with a mobile phone to open a bank account, transfer funds and make utility payments, and can be accessed with any basic mobile phone. Modelo Peru plans to have more than 2 million active Bim mobile money users by 2020. Modelo Peru is formed by the partnership of 40 Peruvian financial institutions, including private-sector and state-owned banks, credit unions, microfinance institutions, non-bank electronic money issuers and telecommunication companies.
* With high mobile penetration, companies in Peru are increasingly using mobile technology with a focus on financial inclusion. Movistar, a mobile operator in Peru, in collaboration with MasterCard, introduced the country's first electronic mobile money service, Tu Dinero Movil (Your Mobile Money), in January 2015. The service is now available to Movistar's more than 16 million customers, allowing them to conduct a number of transactions such as money transfers, purchases at MasterCard-affiliated establishments, and paying for mobile recharges. Similar to Bim, it can be accessed on smartphones as well as basic mobile phones.
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