The Cards and Payments Industry in Mexico: Emerging trends and opportunities to 2020
Latest
industry research report on: Cards and Payments Industry in Mexico
Market : Industry Size, Share, Research, Reviews, Analysis,
Strategies, Demand, Growth, Segmentation, Parameters, Forecasts
GlobalDatas "The Cards
and Payments
Industry in Mexico: Emerging trends and opportunities to 2020"
report provides detailed analysis of market trends in the Mexican
cards and payments industry. It provides values and volumes for a
number of key performance indicators in the industry, including
credit transfers, cheques, direct debits, payment cards and cash
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 Mexican cards and payments industry, including -
-
Current and forecast values for each market in the Mexican cards and
payments industry, including debit, credit and charge cards.
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Detailed insights into payment instruments including credit
transfers, cheques, cash, direct debits, and payment cards. It also,
includes an overview of the country's key alternative payment
instruments.
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E-commerce market analysis and payment methods.
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Analysis of various market drivers and regulations governing the
Mexican cards and payments industry.
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Detailed analysis of strategies adopted by banks and other
institutions to market debit, credit and charge cards.
Scope
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To combat fraudulent payment activities in Mexico, banks and scheme
providers are taking a number of measures, with one example being
Mastercards introduction of the Identity Check Mobile solution in
November 2016. The solution allows card holders to verify online
payment by scanning their fingerprint or taking a selfie. Unlike
existing identity verification methods - which take shoppers away
from a merchants website or mobile app and often require them to
remember and enter a password - Mastercard Identity Check Mobile
verifies the user via technologies such as biometrics and one-time
passwords. Earlier in January 2015, Oberthur Technologies (OT)
partnered with PROSA, a provider of payment processing services, to
launch OT Motion Code technology. With Motion Code, the cards CVV
code is replaced with a mini-screen on which the CVV code changes
automatically at regular intervals, making it impossible for
fraudsters to misuse.
-
The uptake of alternative payments is gradually increasing in Mexico,
with banks and payment solutions providers launching products and
services in the market. In partnership with Mastercard, Banamex
launched its digital wallet, Banamex Wallet, in February 2016. The
Android-compatible mobile app can be used to make contactless
m-payments, which are authorized by a four-digit PIN. Users can add
all Mastercard-branded credit cards to the wallet. Earlier in June
2014, BBVA Bancomer launched its mobile wallet BBVA Wallet in Mexico.
The wallet allows secure NFC payments at merchant locations that
accept contactless payments. Available on phones with Android 4.4 and
above, other phones can use it through NFC stickers.
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To further enhance financial inclusion, Mexico joined the UN-based
Better Than Cash Alliance in June 2016. The move comes after the
government introduced a national policy on financial inclusion to
promote the use of electronic payments across the country and reduce
the dependence on cash. With 86% of the 124.6 million population
owning mobile phones, Better Than Cash Alliance aims to harness the
popularity of mobile phones for digital payments. Earlier in February
2016, PROSA partnered with digital solutions provider Gemalto to
offer m-payment services to its partner banks, which include 95% of
credit, debit, and prepaid card issuers in the country. Gemaltos
Trusted Service Hub enables banks to offer their own mobile wallets
using host card emulation technology, while PROSA is responsible for
mobile wallet development, card holder identification and
verification, card digitization, and security.
Reasons
to buy
-
Make strategic business decisions, using top-level historic and
forecast market data, related to the Mexican cards and payments
industry and each market within it.
-
Understand the key market trends and growth opportunities in the
Mexican cards and payments industry.
-
Assess the competitive dynamics in the Mexican cards and payments
industry.
-
Gain insights into marketing strategies used for various card types
in Mexico.
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Gain insights into key regulations governing the Mexican cards and
payments industry.
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