Payments Landscape in Venezuela- Market Report Opportunity, Analysis, Growth, Trends & Forecast to 2023

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ReportsnReports added a new report on The Payments Landscape in Venezuela report that delivers the clean elaborated structure of the Report comprising each and every business-related information of the market at a global level. The in-depth study on the current state which focuses on the major drivers and restraints for the key players. Payments Landscape in Venezuela Industry research report provides granular analysis of the market share, segmentation, revenue forecasts, geographic regions of the market and analytical tools such as SWOT analysis to generate a whole set of trade based studies regarding the Payments Landscape in Venezuela.

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‘Payments Landscape in Venezuela: Opportunities and Risks to 2022’ report provide a 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 cards, credit transfers, direct debit, and cheques during the review-period (2014-18e).

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 (2018e-22f). It also offers information on the country’s competitive landscape, including 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 detailed regulatory policies and recent changes in regulatory structure.

Payments Landscape in Venezuela: Opportunities and Risks to 2022′ 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 cards, credit transfers, direct debit, and cheques. 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 of the Report-
– 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 Móvil. 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. To start making purchases via the app, users are required to deposit up to VEF300,000 to their ID card at any bank branch. As of February 2019 over 3.4 million consumers had registered for the service.
– To promote credit cards, in March 2019 the Superintendencia de las Instituciones del Sector Bancario de Venezuela (SUDEBAN) increased the maximum credit card consumption limit, enabling card issuers to approve a maximum credit limit of up to VEF775,000. In December 2018, Banco Central de Venezuela (the country’s central bank) capped the annual interest rate on credit cards at a minimum of 17% and a maximum of 29%.
– In January 2019 the central bank introduced new charges for different banking transactions, such as VEF128 for cash advances at POS terminals; 3% of amount withdrawn at own banks’ ATMs, and 5% at other banks’ ATMs; and VEF3,186 for the issuance of chequebooks associated with unpaid current accounts of natural persons. The charges on cash transactions are expected to encourage electronic payments.

Reasons to buy this Report-
– 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.

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Table of Contents
Market Overview
Card-based Payments
Alternative Payments
Payment Innovations
Payments Infrastructure & Regulation