Chile Cards and Payments - Opportunities and Risks to 2024

New York, July 03, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Chile Cards and Payments - Opportunities and Risks to 2024" - https://www.reportlinker.com/p05918048/?utm_source=GNW


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 (2020e-24f). It also offers information on the country’s competitive landscape, including market shares of issuers and schemes.

The report brings together 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 Chile’s cards and payments industry, including -
- Current and forecast values for each market in the Chile’s cards and payments industry, including debit and credit cards.
- Detailed insights into payment instruments including cash, cards, credit transfers, cheques, and direct debits. 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 Chile’s cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit and credit.

Scope
- Following the announcement of new regulation in April 2019, the Chilean government opened up its merchant acquiring and processing space for new entrants. Since 1989, Transbank had been the single acquiring and issuing processor in the Chilean payments market. The new regulation intends to end Transbank’s monopoly in this space and increase competition. As a result, multiple acquirers have started entering the Chilean market. In May 2019, acquiring solutions provider EVO Payments entered the Chilean market in a 10-year joint venture with Banco de Credito e Inversiones (BCI). Similarly, electronic payment and banking solutions provider ACI Worldwide entered the merchant acquiring space by partnering with its existing partner Transbank.
- Contactless transport payments are gaining popularity in Chile. In May 2019, Moverick - an app that enables users to purchase travel tickets - launched a contactless payment system for transport in Temuco, Chile. The payment system was implemented on the city’s 4A and 4B bus lines, enabling commuters to make payments using their contactless transport card and the Moverick app. Moverick also offers a discount of CLP50 ($0.07) on the total fare when it is paid via a contactless transport card or the app. Previously, Mastercard launched a contactless payment system for transport in Valparaiso, Chile in January 2018. The payment system was implemented in the metro system of the city, enabling commuters to make payments using their contactless cards or smartphones.
- To offer convenience and promote digital payment channels, local and international retailers are launching self-service stores. In January 2019, Walmart launched its first 100% self-service Lider Express supermarket in Santiago, Chile. Lider Express Santiago was the first Walmart store in Latin America to operate a fully self-service system. The supermarket consists of five checkout points enabling customers to scan products and make payments.

Reasons to Buy
- Make strategic business decisions, using top-level historic and forecast market data, related to the Chile’s cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in the Chile’s cards and payments industry.
- Assess the competitive dynamics in the Chile’s cards and payments industry.
- Gain insights into marketing strategies used for various card types in Chile.
- Gain insights into key regulations governing the Chile’s cards and payments industry.
Read the full report: https://www.reportlinker.com/p05918048/?utm_source=GNW

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