The Cards and Payments Industry in Argentina: Emerging trends and opportunities to 2020
Latest
industry research report on: Cards and Payments Industry in Argentina
Market | Industry Size, Share, Research, Reviews, Analysis,
Strategies, Demand, Growth, Segmentation, Parameters, Forecasts
GlobalDatas "The Cards
and Payments Industry
in Argentina: Emerging trends and opportunities to 2020", report
provides detailed analysis of market trends in the Argentine cards
and payments industry. It provides values and volumes for a number of
key performance indicators in the industry, including credit
transfers, cheques, cash, payment cards and direct debit 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 GlobalDatas 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 provides top-level market analysis, information and insights
into the Argentine cards and payments industry, including -
-
Current and forecast values for each market in the Argentine cards
and payments industry, including debit, credit and charge cards.
-
Detailed insights into payment instruments including credit
transfers, cheques, cash, direct debit 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
Argentine cards and payments industry.
-
Detailed analysis of strategies adopted by banks and other
institutions to market debit, credit and charge cards.
Scope
-
To improve financial inclusion and increase competition between
banks, in 2016 the central bank introduced guidelines for convenient
account opening and switching between providers. As per the new
guideline, wage accounts can be opened directly by individuals rather
than upon request by their employer. Individuals can open and close
their accounts and cancel their credit cards through online banking,
without the need to visit a bank branch. To increase financial access
for citizens, the central bank relaxed the regulatory requirements
for opening new bank branches in 2016. In H1 2016, 97 new branches
were provided with authorization, an increase of 44 over H2 2015.
-
The government move to abolish the tax on credit card payments made
in foreign currency in December 2015 is anticipated to drive credit
card transactions. In December 2013 the government had increased the
tax on all credit card purchases made abroad from 20% to 35%.
Consumers were also charged with a 50% tax on online purchases of
more than $25 (ARS201.90) from foreign websites. The restrictions on
online shopping and use of payment cards abroad was an attempt to
control the drop in foreign currency reserves, which fell by 29% in
2013 to $30.9bn (ARS168.7bn), a seven-year low.
-
To promote inbound tourism in the country, in September 2016 the
Argentine government abolished value added tax (VAT) on hotel charges
for foreign travelers if they paid using a debit or credit card
issued overseas. Hotels must now refund foreign tourists the VAT
charged on hotel stays. This move is anticipated to push up tourist
numbers by 120,000 and increase spending by $90m (ARS1.3bn), thereby
driving the payment card transaction value and volume.
Reasons
to buy
-
Make strategic business decisions, using top-level historic and
forecast market data, related to the Argentine cards and payments
industry and each market within it.
-
Understand the key market trends and growth opportunities in the
Argentine cards and payments industry.
-
Assess the competitive dynamics in the Argentine cards and payments
industry.
-
Gain insights into marketing strategies used for various card types
in Argentina.
-
Gain insights into key regulations governing the Argentine cards and
payments industry.
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