Payments Landscape in Venezuela: Opportunities and Risks to 2021

Payments Landscape in Venezuela: Opportunities and Risks to 2021


  Request for Sample Report
  Request A Quote

Executive Summary

Payments Landscape in Venezuela: Opportunities and Risks to 2021

 

Summary

 

GlobalData's "Payments Landscape in Venezuela: Opportunities and Risks to 2021", report provides detailed analysis of market trends in the Venezuelan cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including credit transfers, cards, cheques, and direct debit during the review-period (2013-17e).

 

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 (2017-21f). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.

 

The report brings together GlobalData's 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.

 

This report provides top-level market analysis, information and insights into the Venezuelan cards and payments industry, including-

- Current and forecast values for each market in the Venezuelan cards and payments industry, including debit and credit cards.

- Detailed insights into payment instruments including credit transfers, cards, cheques and direct debit. It also, includes an overview of the country's key alternative payment instruments.

- Analysis of various market drivers and regulations governing the Venezuelan cards and payments industry.

- Detailed analysis of strategies adopted by banks and other institutions to market debit, and credit cards.

 

Scope

 

- To increase electronic payments in Venezuela, in September 2017 the government introduced VAT rate reductions of 3% and 5% on products and services purchased using electronic modes of payment such as payment cards. According to Decree No. 3,085, between September 27, 2017 and December 31, 2017 9% VAT was charged for transactions up to VEF2m (a reduction of 3%), while for transactions above VEF2m, VAT of 7% was levied (a reduction of 5%).

- To reduce dependence on cash in the country, banks and payment companies are promoting electronic payments. All major banks in Venezuela have introduced their own mobile apps enabling individuals to conduct fund transfers electronically. For instance, in October 2017 BBVA Provincial launched its Dinero Rapido mobile payment app which enables individuals to make fund transfers instantly to consumers and merchants. A similar app was launched by Mercantil Banco Universal in the same month.

- To tackle the cash shortage in the country and prevent consumers from having to handle large volumes of cash to conduct purchases, in January 2018 the government introduced a mobile app called Billetera Movil. The app enables individuals to pay for subsidized food products purchased from local supply and production committees using their Carnet de la Patria (identification card). Venezuelan citizens can download the app and register using their ID number or by scanning the QR code on their identification card.

 

Reasons to buy

 

- Make strategic business decisions, using top-level historic and forecast market data, related to the Venezuelan cards and payments industry and each market within it.

- Understand the key market trends and growth opportunities in the Venezuelan cards and payments industry.

- Assess the competitive dynamics in the Venezuelan cards and payments industry.

- Gain insights into marketing strategies used for various card types in Venezuela.

- Gain insights into key regulations governing the Venezuelan cards and payments industry.



Read More



Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications

+91-9015378249

Table of Contents

Market Overview

Executive Summary

Card-based Payments

Alternative Payments

Payments Infrastructure & Regulation

Appendix

Single User License:
Report can be used by individual purchaser only

Site License:
Report can be shared by unlimited users within one corporate location, e.g. a regional office

Corporate User License:
Report can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company

To know more information on Purchase by Section, please send a mail to sales [@] kenresearch.com
 

Banesco Banco Universal

Banco de Venezuela

BBVA Provincial

Mercantil Banco Universal

Banco Fondo Comun

Banco Occidental de Descuento

Mastercard

Visa

The cards and payments industry in Venezuela, Financial cards, Debit cards, Credit cards, Alternative payments

select a license
Single User License
USD 2750 INR 195910
Site License
USD 5500 INR 391820
Corporate User License
USD 8250 INR 587730

NEWSLETTER BY CATEGORY




Testimonials

The report was very informative and gives me an interesting view on the Indian market....

We would like to thank the entire team of Ken Research in showcasing professionalism in research and quick turnaround time. We have had multiple research reports from Ken Research. The deadline communicated for research was duly met. The research reports were covering many aspects in detail. This showcases their endeavor and care for client satisfaction and a strong understanding of the clients’ requirements. Thank you again for your help...

I appreciate their diligence and determination in customizing the research project. The data proves to be valuable and accurate. I would, in future, definitely use their services again...

I would like to thank Ken research team for meeting our report deliverables. The report is very good and we appreciate your well cooperation. ...

The research you conducted was very helpful for us and the integrity of your research approach gave us great confidence in the data. Look forward to collaborating again in future...



Ken Research Private Limited, Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49
     Gurgaon, Haryana - 122001, India

download

Company Brochure

Engage with Us

sales [@] kenresearch.com